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Reuters

Nampak has made significant progress in talks for glass unit sale

11th July 2019 South African diversified packaging group Nampak has made significant progress in the negotiations to sell its Glass business, it said on Thursday. Nampak, which operates in 11 African countries as well as Ireland and the U.K, began exploratory discussions with a number of strategic players in 2018. 

Shrinking demand to eclipse supply issues in tin market

11th July 2019 The tin market is under greater pressure from an economic slowdown and falling demand than supply issues, where lower production from countries such as Myanmar is likely to be offset by a new project in central Africa. Tin prices on the London Metal Exchange at around $18 000 a tonne are down 15%... 

Kganyago re-appointed for another 5 years

10th July 2019 South African President Cyril Ramaphosa has re-appointed central bank governor Lesetja Kganyago for another five-year term when his current term expires in November, the finance ministry said on Wednesday. Ramaphosa also appointed Fundi Tshazibana and Rashad Cassim as deputy central bank... 

Czech PPF Group sells 4.5% stake in Russia's Polymetal

10th July 2019 PPF Group, owned by the Czech Republic's richest businessman Petr Kellner, has sold a 4.5% stake in Russian gold and silver producer Polymetal, a bookrunner for the deal said on Wednesday. PPF Group, which now owns 6.5% in the Russian company, sold about 21-million shares in Polymetal at a... 

Brazil court convicts Vale for damages caused by deadly dam rupture

10th July 2019 A Brazilian state judge on Tuesday convicted mining company Vale for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value... 

Platinum firms kick off wage talks

10th July 2019 The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to provoke higher wage demands. The majority union in the platinum sector, the Association of Mineworkers and Construction... 

Congo's Jan to May copper output slides 16%, cobalt down 21%

9th July 2019 Copper production in Democratic Republic of Congo, Africa's top producer, fell by 16.2% year-on-year in the January to May period, while cobalt output slid 21.5%, the central bank said on Tuesday. Copper output for the first five months of 2019 stood at 416 067 t compared with 496 468 t in the... 

SARB stresses importance of independence

9th July 2019 The South African central bank's independence is an important check on government-controlled fiscal policy, a central bank deputy governor said on Tuesday, following a high-profile row over the role of the bank. Some senior officials in the governing African National Congress party have this year... 

Nyrstar extends stoppage at Port Pirie smelter until late July

9th July 2019 Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July. The Belgium-based company now expects both the TSL and the blast furnace to restart by the end of July. 

Brazil to auction mining rights for about 1 000 areas this year – regulator

9th July 2019 Brazil plans to put about 1 000 mining areas up for auction this year including areas containing gold, copper and iron-ore, a director of the country's National Mining Agency (ANM) told Reuters on Monday. ANM had initially planned to start auctioning off the areas in the first half of 2019, but... 

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