R/€ = 15.71 Change: -0.09
R/$ = 13.82 Change: -0.09
Au 1283.99 $/oz Change: -9.87
Pt 798.83 $/oz Change: -5.03


Congolese mining company leaves ITSCI certification scheme over cost

7th January 2019 Congo's biggest miner of coltan, an ore that is the source of metals used in mobile phones, says it is leaving the ITSCI certification scheme, relied on by major companies as a guarantee that minerals are free from human rights abuses. Societe Miniere de Bisunzu (SMB), has given 30 days notice to... 

Denmark plans business hub on 9 new islands near Copenhagen

7th January 2019 Denmark has proposed constructing nine islands in the sea just south of Copenhagen to create more space for businesses, a spokesman for the business ministry said on Monday. The islands could be fully functional by 2040 and the government expects them to attract up to 380 new businesses and... 

Zambia Vedanta unit halts operations at underground mine on tax concerns

6th January 2019 Zambia's Konkola Copper Mines (KCM), majority owned by Vedanta Resources, suspended operations at its Nchanga mine following the introduction of an import duty on copper concentrates, the company said. Zambia, Africa's No.2 copper producer, introduced new mining duties, increased royalties and... 

At least 30 gold miners killed in tunnel collapse in northern Afghanistan

6th January 2019 At least 30 Afghans were killed on Sunday when the tunnel they were digging in to mine gold in northern Afghanistan collapsed, officials said. Officials said the victims were villagers who were mining for gold illegally, rather than in a government project. 

Decline in South Africa's private sector eases, fanning recovery hopes – PMI

4th January 2019 South Africa's private sector activity contracted for the sixth month in a row in December as both output and new orders fell further while purchases also dropped, though the overall rate of decline eased, a survey showed on Friday. The Purchasing Managers' Index (PMI), compiled by IHS Markit,... 

Total starts production at Nigeria's deepwater Egina oilfield

4th January 2019 Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria's coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cashflow. Output from Egina, which is located in waters about 1 600 m deep, is expected to plateau at... 

Zambia says mines have failed to show impact of higher taxes

4th January 2019 Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday. The country, Africa's second-largest copper producer, increased its sliding scale... 

India's top court says "every second counts" for miners trapped for 3 weeks

4th January 2019 ndia's Supreme Court on Thursday ordered the government to list the steps it plans for the rescue of at least 15 miners trapped in a so-called "rat-hole" coal mine for three weeks in a remote hilly state, warning that "every second counts". The workers were ensnared on December 13 when the... 

Detour Gold names Paulson-backed Bill Williams as interim CEO

4th January 2019 Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim CEO, replacing Michael Kenyon. The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson's hedge fund, which pushed for a complete overhaul of... 

Petrobras to focus on core business, spat with govt to be resolved soon -officials

4th January 2019 Brazilian officials on Thursday predicted a quick resolution to a dispute with Petroleo Brasileiro SA over offshore oil blocks and doubled down on pledges to steer the state-run firm toward its core businesses like oil exploration. At the swearing-in ceremony for new CEO Roberto Castello Branco,... 


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