R/€ = 16.52 Change: -0.36
R/$ = 14.60 Change: -0.36
Au 1185.12 $/oz Change: -9.80
Pt 778.00 $/oz Change: -27.07


Union at Chile's Escondida sets deadline for negotiations ahead of strike

6th August 2018 The union at BHP 's Escondida mine in Chile, the world's biggest copper mine, has told the company it should prove its willingness to negotiate by Monday morning if seeks to strike a deal with workers ahead of a pending strike, according to an internal union communication obtained by Reuters.... 

Steel mills in China's Hebei cut output due to power shortage

6th August 2018 Some steel mills in Hebei, China's top steelmaking province, have been ordered to curb operations due to power shortages in the region, industrial sources said. Power grid loading in late July in southern areas of Hebei reached 36.57 gigawatts (GW), the highest on record, as a heatwave spurred... 

EU asks WTO to certify it has removed Airbus subsidies

6th August 2018 The European Union has asked the World Trade Organization to certify that it has complied with WTO rulings on its subsidies for planemaker Airbus, attempting to forestall-billions of dollars of US sanctions, a document published by the WTO showed on Monday. The legal move is the latest step in a... 

Tanzania wants to build pipeline to pump gas to Uganda

6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

BHP boosts nickel mining, exploration investment amid electric vehicle boom

6th August 2018 Global miner BHP is ploughing more investment into nickel mine development and exploration in Western Australia, seeking to secure its own supply of a key material in batteries needed to meet booming demand for electric cars. BHP is building what is expected to be the world's largest... 

India's Goa state to push federal govt to restart mining

6th August 2018 India's Goa state on Friday passed a resolution asking the state's chief Minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits. The resolution seeks to amend laws in Goa so that... 

Rising oil prices threaten to erode mining sector's profitability

6th August 2018 Rising oil prices are the latest challenge to the mining sector's profitability, threatening to eclipse hard-fought efficiency gains during the past two years and increasing metals demand. Miners use heavy fuel oil to generate electricity at remote sites; they also use it for transport, with... 

Brazil mining exports to rise 2.5% in 2018 – Ibram

6th August 2018 Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday. By value, mineral exports are expected to increase to $30-billion from $28.37-billion last... 

Russian gold miner Polyus posts 10% rise in Q2 net profit

3rd August 2018 Polyus, Russia's largest gold producer, on Friday reported second-quarter net profit of $114-million, up 10% year on year, due to higher gold sales. Excluding non-cash items, such as a foreign exchange loss, its adjusted net profit, jumped 68% to $457-million and matched its adjusted earnings... 

Sumitomo says Ambatovy to miss FY18/19 nickel output target

3rd August 2018 Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy project in Madagascar will likely fall short of its earlier target of 48 000 t in the year to March 2019, its chief financial officer said on Friday. "The Ambatovy has run at about 64% to 65% of full capacity in the... 


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