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Vale workers in Mozambique down tools at Moatize mine over bonus pay

15th December 2017 Workers at Brazilian mining giant Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, a local television station reported. The workers embarked on a strike early on Friday, paralysing work at the plant, Mozambican Miramar television reported. 

Australia cobalt rush accelerates on electric vehicle demand, DRC troubles

15th December 2017 Australia, home to the world's second-biggest cobalt reserves, is seeing a rush of interest in projects still years from production as makers of batteries used in electric vehicles (EVs) seek supplies of the metal from a more costly but less risky source than top miner, the Democratic Republic of... 

Wiese resigns as Steinhoff chairperson in wake of accounting scandal

15th December 2017 South African tycoon Christo Wiese resigned on Thursday as chairperson of Steinhoff, the latest setback for the retail group in the throes of an accounting scandal. Once a must-have for investors who backed its reinvention from small furniture outfit into a retail empire, Steinhoff has seen its... 

Retention of jobs critical following Sibanye-Lonmin deal – Zwane

15th December 2017 Retaining jobs has to be a priority following Sibanye-Stillwater's takeover of platinum producer Lonmin , the South African mining minister said on Thursday. "The stability and sustainability of the industry is key for the economy, and the creation and retention of jobs in this sector is a... 

LafargeHolcim revamps management, trims executive board

15th December 2017 LafargeHolcim is revamping its management structure to make countries more accountable for results, the world's largest cement maker said on Friday, in a bid to boost growth and performance. "The strengthening of the profit and loss responsibility of the countries and the simplification of global... 

Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

ArcelorMittal says Kazakh coal miners end strike

15th December 2017 Coal miners at steelmaker ArcelorMittal's Kazakh unit have ended their sit-in and emerged from the mines, the company said on Friday, after offers of a pay rise and the threat of legal action. ArcelorMittal Temirtau, the Central Asian nation's biggest steel mill, said it would continue... 

UK billionaire Gupta to form listed company with Atlantis Resources

14th December 2017 Sanjeev Gupta's GFG Alliance has struck a deal with tidal power firm Atlantis Resources that marks the British billionaire's first step into the stock market. GFG Alliance, the $10-billion turnover consortium that runs metals group Liberty House and energy and commodities group SIMEC, said in a... 

Zambia sees 2017 copper output rising up to 850 000 t

14th December 2017 Zambia's 2017 copper output is expected to increase to between 800 000 t and 850 000 t from 774 290 t in last year, Mines Minister Christopher Yaluma on Thursday. Zambia's copper production is next year likely to increase further to reach 1-million tonnes, Yaluma said, citing improved power... 

South Africa's current account deficit narrows, FDI and trade surplus climb

14th December 2017 South Africa's current account deficit narrowed slightly to 2.3% of GDP in the third quarter and foreign direct investment in Africa's most industrialised economy grew, as did the trade surplus, the central bank said on Thursday, After contracting in the last quarter of 2016 and the first of this... 

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