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Bloomberg

Gupta firms sue Bank of Baroda to try stop account closures

17th August 2017 Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with... 

Zinc breaks through $3 000 barrier as metals rally gathers pace

16th August 2017 Zinc surged above $3 000 a metric ton amid persistent global deficits, and aluminium climbed as China reined in illegal capacity, adding fresh impetus to the rally even as some investors expressed concerns. Zinc jumped as much as 2.6% to $3 037/t on the London Metal Exchange, the highest level... 

Paulson and other hedge funds rewarded as angst fuels gold

15th August 2017 Hedge-fund managers including billionaire John Paulson are being rewarded as investor worries over everything from uneven economic data to US-North Korean tensions fuel a rally in bullion. At the end of June, Paulson & Co. owned 4.36-million shares of SPDR Gold Shares, a US government filing... 

Africa's biggest copper mine hit by Zambian power restrictions

15th August 2017 Zambia is cutting power to mines including Africa’s biggest copper site, the Kansanshi pit owned by First Quantum Minerals, escalating a fight over tariffs. "They have still got some significant amount of power for them to operate, but obviously their operations will not be at 100% because of the... 

South Africa must prosecute 2012 Marikana deaths, Amnesty says

15th August 2017 Amnesty International urged South African authorities to move forward with prosecutions over the killing by police of 34 people in a single day at Lonmin Plc’s Marikana platinum operations five years ago. “The tragedy of the Marikana killings is compounded by the shocking fact that no one... 

African body urges Congo to prosecute Anvil over mine deaths

15th August 2017 The African Union’s human rights body urged the Democratic Republic of Congo’s government to prosecute officials of an Australian mining company over their alleged role in a military crackdown in 2004 that left more than 70 people dead. The African Commission on Human and People’s Rights also... 

UN experts accuse Congo army General of mining gold illegally

14th August 2017 A group of United Nations experts said it’s gathered evidence that a sanctioned Congolese military officer owns gold mining operations in the northeast of the country, contravening the country’s mining code. Tax officials, mine workers and dredge owners told the Group of Experts on the Democratic... 

Russian bank sees gold jumping to $1 400 on world tension

14th August 2017 Gold prices are set to jump to a four-year high of $1 400/oz by the end of the year over mounting tensions between North Korea and the US, and surging demand in the world’s biggest consumers, according to the head of precious metals at a Russian investment bank. Bullion could rise to $1 360/oz... 

This Canadian copper giant is missing best of metal's surge

12th August 2017 As copper producers from Freeport-McMoRan to BHP Billiton ponder what to do with the windfall from surging prices, First Quantum Minerals has no such dilemma. Unlike most of its peers, First Quantum’s copper sales are fully hedged – at an expected average price of $2.37/lb for the second half of... 

There's a key to lithium's future inside a shipping container

11th August 2017 The world’s biggest miners’ determination to muscle into the burgeoning  battery market stepped up a notch with  Rio Tinto Group reporting breakthroughs in cracking the technology needed to unlock its giant lithium project in Serbia that could meet 10% of global demand. Tests at a research... 

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