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Reuters

Mineral Deposits investor says won't take Eramet bid as market eyes better offer

8th June 2018 The second-largest investor in Australia's Mineral Deposits said it would not accept a takeover bid by Eramet SA, as Mineral Deposits' shares surged, signalling investors expect the French miner to make a higher offer. Eramet made an all-cash takeover bid for its joint venture partner in a mine... 

April manufacturing output up 1.1% Y/Y

7th June 2018 South Africa's manufacturing output expanded by 1.1% year-on-year in April following a revised 1.6% contraction in March, the statistics agency said on Thursday. Statistics South Africa said factory production on a month-on-month basis shrunk 0.6% in April, decreased by 3% in the three months to... 

Sibanye CEO says seismic events a fact of life for South Africa mines

7th June 2018 Earthquakes such as the one in which seven miners died last month in South Africa are impossible to predict and a fact of life for deep level operations there, the chief executive of the mine's owner Sibanye-Stillwater said on Thursday. Precious metals producer Sibanye has been the object of... 

Congo mining regulations to be signed into law on Friday – mines minister

7th June 2018 Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the... 

Rio Tinto inks exploration agreement with China's Minmetals

7th June 2018 Global miner Rio Tinto inked a joint venture agreement with China Minmetals Corp on Thursday, as the companies look to explore mineral deposits in China. The 50:50 joint venture with State-owned Minmetals follows a technical agreement signed in November when both parties committed to a... 

Botswana Diamonds to buy BCL's stake in exploration project

7th June 2018 Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday. BCL mine group, which has been under liquidation since 2016, is selling its 51% stake in Maibwe Diamonds for an undisclosed amount. 

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21

7th June 2018 Russian gold miner Polyus said on Thursday it planned to make a final investment decision on Sukhoi Log, one of the world's largest untapped gold deposits, by 2020/21, when it would also begin capital spending on construction. Should a positive investment decision be made, production would start... 

Tanzania charges telecoms executives with fraud in tax evasion crackdown

7th June 2018 Tanzanian prosecutors on Wednesday charged two chief executives of mobile phone companies and four other suspects with fraud as part of a crackdown against tax evasion in the East African nation. The executives charged were Le Van Dai, 35, managing director of Halotel Tanzania, owned by... 

LME says plans to launch about 15 new contracts in January 2019

7th June 2018 The London Metal Exchange (LME) plans to launch around 15 new contracts from next January, including cash-settled cobalt and hot-rolled coil steel contracts, an executive said on Wednesday. "We will put in place the technical capabilities by November and then we'll launch them from January,"... 

Brazil presidential decree next week to overhaul mining rules – sources

7th June 2018 Brazil's President Michel Temer plans to issue a decree next week to overhaul the rules for mining permits, bypassing Congress after it failed to approve similar changes last year, two people with direct knowledge of the matter told Reuters. The sources, who asked not to be named because the... 

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