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Jul 03, 2015
Updated 10 minutes ago Rare earths miner Molycorp said it received US bankruptcy court approval for interim financing of $22-million to support its operations. At the company's first bankruptcy hearing on June 26, the court denied the company's loan request of $44-million.
Jul 03, 2015
Updated 13 minutes ago Global mining and commodity trading firm Glencore met with Iranian officials in Tehran to discuss possible business deals should economic sanctions be lifted, industry sources said on Thursday. Iran is negotiating with the US and five other big powers - Britain,...
Jul 02, 2015
Kenya expects 20 companies to start investing about 8-billion shillings ($80-million) immediately in the African nation's textiles industry after the renewal of a deal offering access to the US market, its industrialisation minister said. President Barack Obama...
Jul 02, 2015
South Africa is set to import more white maize from Zambia to prop up dwindling stocks from a harvest devastated by bad weather, trading and industry sources told Reuters on Thursday. Africa's biggest producer of the crop imported 163 t of white maize from its...
Jul 02, 2015
Anglo American is planning to cut between 5% and 20% of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. The mining company, which employs...
Jul 02, 2015
South Africa will import about 50 000 t of white maize from Mexico, an industry source said on Wednesday, in a bid to bulk up waning stocks as a scorching drought curbed domestic output. The first shipment of the maize will arrive in the country in August with five...
Jul 02, 2015
Morocco's Platinum Power, a subsidiary of US private equity firm Brookstone Partners, plans to invest 500-billion CFA francs ($845.87-million) to build a hydroelectric project in Cameroon, the company said. Platinum Power signed a framework public–private partnership...
Jul 02, 2015
Chile's government said it will inject $225-million in capital into state-owned copper miner Corporacion Nacional del Cobre , known locally as Codelco, to help fund its ambitious investment plans. The funds will come from Codelco's 2014 profits, as the company gives...
Jul 02, 2015
ArcelorMittal, the world's largest producer of steel, will cut 2 800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below...
Jul 01, 2015
South Africa's new vehicle sales fell by 4.8% year-on-year to 50 251 units in June, data from the trade department showed on Wednesday. Exports however grew 33.8% year-on-year to 31 422 units, the department said.
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