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Deutsche Bank to pay $60m to settle US gold price-fixing case

5th December 2016 Deutsche Bank AG has agreed to pay $60-million to settle private US antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense. The preliminary settlement was filed on Friday with the US District Court in Manhattan, and... 

South Africa's Zuma reassures investors after dodging credit downgrade

5th December 2016 President Jacob Zuma moved to reassure foreign investors on Saturday after all three major rating agencies kept South Africa's investment-grade status, granting the scandal-prone leader a reprieve after prolonged political turmoil. S&P Global Ratings downgraded the local debt of Africa's most... 

Nigeria and Morocco sign gas pipeline deal to link Africa to Europe

5th December 2016 Nigeria and Morocco have signed a joint venture to construct a gas pipeline that will connect the two nations as well as some other African countries to Europe, Nigeria's Foreign Affairs Minister said on Saturday. The agreement was reached during a visit by the Morocco's King Mohammed to the... 

Chile's Codelco plans investments of $3.8bn in 2017 – CEO

5th December 2016 Chile's State-owned Codelco, the world's largest copper producer, plans investments of about $3.8-billion in 2017 and more cost cutting, CEO Nelson Pizarro said in an interview published on Sunday. "Of that, $3.143-billion is in projects, and $651-million is in mine development, which compares to... 

Turquoise Hill stops shipments from Mongolian mine to China

2nd December 2016 Canadian copper miner Turquoise Hill Resources Ltd said on Friday it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. The fee was imposed following a diplomatic row... 

India's Coal Minister says no value in splitting Coal India

2nd December 2016 India's Power and Coal Minister Piyush Goyal said there was no value in splitting up India's biggest coal producer Coal India. Reuters reported on Wednesday that according to a presentation by senior government officials, a proposal has been mooted to break up of the country's Coal India... 

Gordhan orders inquiry into tax agency

2nd December 2016 South African Finance Minister Pravin Gordhan has ordered an investigation into the tax collection authority, officials told parliament on Thursday, underlining rising tensions between the Treasury and the revenue agency. Gordhan has expressed concerns at the leadership of the South African... 

China orders coal mines to conduct safety overhaul

2nd December 2016 China has ordered all of the country's coal mines to conduct a safety overhaul in the past month, the official Xinhua news agency reported on Friday, citing the deputy director of the country's work safety watchdog. Mines should not be operating over capacity and miners should not be asked to... 

Chile to capitalise copper producer Codelco with $975m

1st December 2016 Chile's government will give state-owned copper miner Codelco $975-million in capitalisation so the cash-strapped firm can finance its ambitious investment plans, Finance Minister Rodrigo Valdes said on Thursday. World No1 copper producer Codelco returns all its profits to the state and is... 

Vale says expects judge to approve Samarco settlement soon

1st December 2016 Vale, the world's top iron-ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron-ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long"... 

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