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Feb 13, 2016
Far rarer than diamonds or emeralds, some minerals on Earth are known only from thimbleful samples, according to a first list of 2 550 obscure minerals on Friday that could have future uses, ranging from industry to exotic Valentine's Day gifts. Ichnusaite,...
Feb 12, 2016
Global miner Anglo American said on Friday that it will lay off 10% of staff, equivalent to 150 workers, at its El Soldado copper mine, in central Chile, as a steep slide in metals prices forces it to cut costs. "Current market conditions have put (El Soldado's)...
Feb 12, 2016
Argentina's new president has revoked the 5% tax that the previous administration collected on mining exports, state news agency Telam reported on Friday, as part of the country's two-month old push toward open markets. "Today end the taxes on mining exports,"...
Feb 12, 2016
ArcelorMittal South Africa is looking for an independent power producer to build an 800 megawatt gas-fired power station on land at its Saldanha steel works to help ensure its survival, CE Paul O'Flaherty said. ArcelorMittal, which is reviewing its Saldanha operation...
Feb 12, 2016
South Africa's rand weakened on Friday after President Jacob Zuma's state-of-the-nation address that analysts and economists said did not deal with concerns raised by rating agencies. By 0645 GMT the rand had slipped 0.7% to 15.9100 per dollar, pushed lower by the...
Feb 12, 2016
Australia's gold producers are set to report a round of higher half-year profits next week, but the results could pale against future gains as global economic woes light up bullion prices and miners dig more metal. Gold output in the world's second-biggest producer...
Feb 12, 2016
ArcelorMittal South Africa (AMSA) on Friday posted a full-year loss that was 23 times wider than its loss of a year earlier, as the steelmaker grappled with cheap imports from China and rising labour and electricity costs. The ArcelorMittal SA unit, which is...
Feb 12, 2016
Rio Tinto will seek financing for its massive Simandou iron ore project in Guinea, despite writing down its value due to low commodity prices and funding uncertainties. The world's No. 2 miner on Thursday reported a net loss of $866-million last year, hammered in...
Feb 12, 2016
Gold's prospects for a sustained price rally are better than they have been for years as a weaker dollar, crashing oil prices and concerns about the global economy have revived its safe-haven status after years as the dog of global financial markets. The last time...
Feb 12, 2016
The World Bank on Thursday approved $2.5-billion in new three-year credit lines for Peru to bolster the country's finances as it struggles with slowing growth and fiscal pressures brought on by the collapse of commodities prices. The World Bank said the two...
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