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AngloGold says no production impact from Guinea power protests

28th June 2018 AngloGold Ashanti said on Thursday that there has been no production impact at its Siguiri gold mine in Guinea despite two days of violent protests over prolonged electricity outages by communities around the mine. Youths barricaded roads, clashed with security forces and tried to force through... 

Gold hits over six-month low as dollar strengthens

28th June 2018 Gold prices hit their lowest in more than six months on Thursday as the greenback held near one-year highs amid mounting US-China trade friction. Spot gold was down 0.2% at $1 249.71/oz, as of 0752 GMT. Earlier in the session, the bullion touched $1 248.25, its lowest since mid-December. 

Canada rejects proposed Ajax gold mine in British Columbia

28th June 2018 The Canadian government said on Wednesday it had rejected the proposed Ajax openpit gold and copper mine in the Pacific province of British Columbia, citing what it said were significant adverse environmental effects. The plan to develop the site had been put forward by KGHM International, a... 

London court backs Deripaska in battle of Russian tycoons

28th June 2018 Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman. Deripaska, who controls aluminium giant Rusal,... 

UK court: Abramovich did not have right to sell stake in Nornickel to Potanin

27th June 2018 Russian billionaire Roman Abramovich, best known in Britain as the owner of Premier League soccer club Chelsea, did not have the right to sell a stake in a Norilsk Nickel to another businessman, Vladimir Potanin, a London High Court judgment said on Wednesday. The ruling follows a long battle... 

Implats appoints new CFO

27th June 2018 South Africa's Impala Platinum (Implats) said on Wednesday it had appointed Meroonisha Kerber as CFO effective the beginning of August. The appointment of Kerber, who will also serve as an executive director of the Implats Board, comes after the resignation of the former CFO Brenda Berlin in... 

Kenya's ARM Cement counts on shareholder loans for revival

27th June 2018 Kenya's ARM Cement will rely on short-term loans from shareholders to lift production back to capacity and seek a deep-pocketed strategic investor, its chief executive said on Wednesday, as the firm struggles to stem its financial woes. The company, which was once Kenya's second-largest cement... 

Philippine miners call for end of ban on big new projects

27th June 2018 Philippine miners are urging the government to lift a six-year ban on new large-scale mining projects in the world's No. 2 nickel ore supplier after the state removed restrictions on fresh smaller ventures. The Department of Environment and Natural Resources said in a memorandum dated June 18,... 

Danone's Morocco dairy firm loses 50% of milk market – CEO

27th June 2018 France's Danone will never quit Morocco despite its local dairy firm Centrale Danone having lost more than 50% of its market share in fresh milk due to a consumer boycott, Danone's chief executive said on Tuesday. Unknown activists launched a consumer boycott campaign on April 20 against major... 

Zambian Parliament recommends private investment in State firms

27th June 2018 Zambia must consider seeking equity partners to recapitalise its State-owned firms, a Parliamentary committee recommended on Tuesday. Zambia transferred the shares of 29 of its 33 State-owned companies in 2015 from the ministry of finance to the government's investment arm, the Industrial... 

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