R/€ = 16.33 Change: -0.09
R/$ = 14.50 Change: -0.02
Au 1200.56 $/oz Change: -6.32
Pt 837.50 $/oz Change: -15.02


South Africa's top court ruling curtails power of chiefs to cut mining deals

25th October 2018 South Africa's top court ruled on Thursday that a platinum miner that has a deal with a tribal chief could not evict a group of black farmers, in a decision that could curtail the power of traditional leaders whose deals often disadvantage poor blacks. Land rights are a red-hot issue ahead of... 

Mboweni doubts SAA will find equity partner in current state

25th October 2018 Finance Minister Tito Mboweni said on Thursday that he doubted that the government would find an investor to take an equity stake in struggling State-run South African Airways (SAA) in its current financial state. "I doubt you are going to find an equity partner who will come into SAA in this... 

Hands off Brazil's niobium: Bolsonaro sees China as threat to utopian vision

25th October 2018 Jair Bolsonaro, the far-right candidate favored to win Brazil's Presidential election this Sunday, has a vision for his nation's economy: niobium. This mineral is used as an additive to steel to make the metal stronger and lighter. Niobium is in high demand by automakers, aerospace companies and... 

Mboweni calls for swift action on debt to avoid needing IMF assistance

25th October 2018 Finance Minister Tito Mboweni said on Thursday South Africa had to act swiftly on its debt levels to avoid having to turn to the International Monetary Fund for help, a day after his bleak medium-term budget speech rattled markets. Mboweni predicted wider budget deficits and cut growth forecasts... 

China cutting rare earth output, unnerving global manufacturers

25th October 2018 The Chinese government is limiting domestic production of rare earth minerals in the second half of the year, a move likely to crimp international exports and send prices for the critical materials higher, according to data from Adamas Intelligence. China is by far the world's largest producer... 

Vale reports Q3 miss on forex, base metals

25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Teck Resources adjusted earnings fall on low commodity prices

25th October 2018 Diversified miner Teck Resources reported a near 23% drop in third-quarter adjusted earnings on Thursday as prices for the Canadian company's main products fell in the quarter. Teck, the world's second-biggest exporter of steel-making coal, said adjusted profit fell to C$466-million, or C0.81 a... 

Mali's first independent power project to start up next week

25th October 2018 Mali's first independent power project – a €122-million ($139.06-million), 90 MW diesel plant – will go online next week in the country's gold-rich southwest, a board member of the operator said on Wednesday. The new plant could spur more of the foreign investment Mali has struggled to attract... 

Norsk Hydro Q3 beats forecast, Alunorte outlook still uncertain

24th October 2018 Norwegian aluminium producer Norsk Hydro's third-quarter earnings far exceeded forecasts on Wednesday amid rising metals prices, but the company is still in the dark over when its key Brazilian alumina plant can return to full production. The company won permits from Brazilian authorities... 

South32's Cerro Matoso said to owe more than $56m in royalties

24th October 2018 The Cerro Matoso nickel mine, owned by Australian miner South32, owes more than $56-million in unpaid royalties to Colombia, the country's comptroller said on Tuesday. The company, which produced 40 600 t of ferronickel in 2017, applied incorrect discounts to its royalty payments over several... 


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