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Bloomberg

Coal is being squeezed out of power by cheap renewables

21st June 2018 Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5-trillion of... 

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

Zimbabwe produced 3.4 tons of gold in May, Fidelity says

21st June 2018 Zimbabwean small-scale miners produced 2.2 t of gold in May, while bigger companies had 1.2 t in output of the precious metal, the central bank’s gold-buying unit said. Fidelity Printers and Refineries didn’t give comparative production figures for a year earlier. The nation expects to produce 30... 

Copperbelt Energy of Zambia eyes $250m power investment

20th June 2018 Copperbelt Energy Corp, the Zambian electricity supplier with customers including Glencore’s copper mines, may invest as much as $250-million in solar projects and transmission lines in the neighboUring Democratic Republic of Congo (DRC), CEO Owen Silavwe has said. The amount includes two solar... 

Gold street is where South Africa’s mining history goes to die

20th June 2018 The death rattle of the industry that once symbolised South Africa can be heard in the town of Carletonville – on Gold street. That’s where Paseka Selemela has been guarding cars since 2010, when the scaffolding business he worked for closed. Prior to that, he was an assistant at a now-shuttered... 

Caterpillar’s record profit can’t save it from trade-war carnage

20th June 2018 The world on the cusp of a trade war has spooked investors, and few companies are feeling the fright more than Caterpillar. Shares of the Deerfield, Illinois-based company, which is expected to post record profit this year and the best sales since 2014, have dropped for five straight days and... 

China marks cobalt, copper ascendancy in Congo with new group

19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Cobalt stocks in China set for new surge as EV boom rolls on

19th June 2018 A slump in cobalt prices and the shares of Chinese refiners may provide an ideal bargain-hunting opportunity for investors seeking a piece of the action as Asia’s top economy leads a global boom in electric vehicles. Cobalt sulfate, a chemical used in batteries, has dropped more than 20% since... 

India is said to plan to sell a stake in State-run coal miner

18th June 2018 Prime Minister Narendra Modi’s administration is planning to offload a stake in State-run Coal India to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset... 

The Israeli billionaire forcing Glencore to buck US sanctions

16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

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