R/€ = 16.79 Change: -0.03
R/$ = 14.69 Change: 0.04
Au 1178.80 $/oz Change: 1.88
Pt 784.50 $/oz Change: 8.80


Russia's government sees windfall tax on metals firms as impractical – Ministry

17th August 2018 The Russian government thinks it would be impractical to raise more taxes from metals and mining companies that are earning windfall profits, the Russian finance ministry said on Friday. President Vladimir Putin called last week for further discussion of a proposal by Kremlin aide Andrei Belousov... 

Get your house in order, MPs tell Transnet

17th August 2018 Parliament's watchdog on public account on Friday said it had instructed the Transnet board and management to curb graft at the State-owned company. "The Standing Committee on Public Accounts (Scopa) has told the Transnet Board and management to stop the looting because the business is able to... 

Union for Chilean mine Caserones accepts revised contract, averting strike

17th August 2018 The main union for Chilean mine Caserones has accepted a revised contractual offer from the copper company, which averted the threat of a strike, according to an internal memo sent to workers early on Friday. An agreement between the union and the mining company, controlled by JX Holding and... 

Currency shocks knock platinum to ten-year lows

17th August 2018 Platinum prices tumbled to ten-year lows as the collapse of Turkey's lira rippled through markets and weakened the currency of top producer South Africa, underlining persistent oversupply of the autocatalyst metal. Platinum has been caught in a broad sell-off as investors rush to the safety of... 

Afraid of no-one and ready for a long strike, union leader tells Implats

17th August 2018 Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans to cut up to 13 400 jobs, the union's president said on Thursday. Joseph Mathunjwa, who led a five-month strike in 2014,... 

Poland's KGHM optimistic of meeting 2018 output plan

17th August 2018 Poland's KGHM, one of the world's biggest copper and silver producers, will achieve its 2018 copper production plan despite a fall in output in the first half of the year, the company's chief executive said on Friday. "Looking at the results planned for 2018 we are optimistic and we assume that... 

Rusal says board backs change of domicile to Russia

17th August 2018 Russia's sanctions-hit aluminium giant Rusal said on Friday its board had discussed and approved a change of domicile from Britain's Jersey to Russia in order to take advantage of new special tax regulations. Rusal, which was hit with US sanctions in April that seriously disrupted aluminium... 

Leftists rattle rand with plan to nationalise South Africa's SARB

17th August 2018 Opposition firebrand Julius Malema introduced a bill to nationalise South Africa's central bank, raising pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the institution's independence. The rand fell more than 1 percent overnight... 

Sweden's Granges halts plans for US aluminium joint venture

17th August 2018 Sweden's Granges put on ice on Friday plans to form an aluminium manufacturing joint venture in the United States with Japan's Mitsubishi Aluminum Co, saying that the project was less attractive in "current circumstances". It did not specify what circumstances it was referring to though a Granges... 

Kenya's ARM Cement CEO says to leave post, to stay as board member

16th August 2018 The chief executive officer of Arm Cement said on Thursday he planned to leave his post as part of a management shake-up, but would stay on as a board member. "As founder shareholder and entrepreneur, I will be an active Board member and support the incoming CEO and the management team in... 

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