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Bloomberg

Anglo said to have bids in for New Largo from Seriti

22nd May 2017 Anglo American has received bids for its New Largo project, in South Africa, as the company continues efforts to exit operations in the country that supply coal to local power plants, according to two people familiar with the process. Seriti Resources, which agreed last month to buy thermal coal... 

Iron stockpiles hit record in China as quality gets scrutiny

22nd May 2017 he record heap of iron-ore on China’s doorstep just got even bigger, with the increase in holdings so far this year eclipsing the build up seen over all of 2016 as mills produce unprecedented amounts of steel. Stockpiles at ports rose 1.3% to 136-million metric tons, expanding for a fourth week,... 

Trump woe seen double-edged sword for gold if inflation ebbs

22nd May 2017 For gold, the biggest crisis of Donald Trump’s Presidency could cut both ways. While prices may continue to rise as investors seek a “safety trade", they could also drop if the turmoil ends up damping inflation risks as growth expectations are disappointed, according to Michael Cuggino,... 

Move over Tesla, Europe's building its own battery gigafactories

22nd May 2017 Battery-making gigafactories are about to arrive in Europe, challenging a lead Tesla is building at a plant in Nevada and opening the way for a quicker shift toward green power for both cars and utilities. German Chancellor Angela Merkel on Monday is scheduled to break ground at a €500 million... 

From Yukon to Patagonia, gold explorers stir after sleep

19th May 2017 From Canada’s Yukon to southern Patagonia, outbreaks of gold-rush fever are popping up as bullion markets stage a tentative recovery. The number of holes drilled at gold deposits has been rising steadily for more than a year, according to S&P Global Market Intelligence. 

Miners ask Congo to adjust tax repayments for franc slump

19th May 2017 Mining companies in the Democratic Republic of Congo asked the government to adjust pending value-added tax repayments for a slump in the franc that could cost them as much as $210-million collectively. Federation des Entreprises du Congo, the country’s largest business lobby group, sent the... 

Steinmetz said to skip $1.2bn Vale hearing, risking loss

19th May 2017 Billionaire Beny Steinmetz’s mining company may be asked to pay as much as $1.2-billion to former partner Vale after choosing not to attend an arbitration hearing in London in a dispute over one of the world’s richest mineral assets, two people with knowledge of the case said. The decision by... 

Zimbabwe plans 'use it or lose it' mine-permit programme for gold

19th May 2017 Zimbabwe may confiscate unused mining licenses from companies and liberalize gold trading as ways to boost output. Large mines are “sitting on lots of unused claims,” the southern African country’s Chamber of Mines said in a document outlining initiatives of the proposed Command Mining program.... 

Mining Maverick lured out of hiatus by billion-dollar gold dream

18th May 2017 Frank Giustra likes to see big where others think small. The Canadian mining magnate’s latest target is a subterranean patch of red earth in southwestern Mexico. In January his new undertaking, Leagold Mining, bought the Los Filos mine from Goldcorp for $350-million. It wasn’t the openpits... 

UN sends troops to CAR diamond-mining town

17th May 2017 The United Nations (UN) said it plans to deploy more peacekeeping forces in the Central African Republic (CAR) diamond-mining town of  Bangassou to stem a recent wave of violence. Almost three quarters of the 35 000 inhabitants of the southeastern town need humanitarian assistance following the... 

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