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Reuters

Tongaat Hulett, lenders to consider standstill agreement

16th May 2019 Tongaat Hulett said on Thursday it was looking to negotiate a standstill agreement with its lenders, which had already agreed to waive some of their rights related to their loans to the troubled sugar producer. The news supported Tongaat shares, which have been under pressure since it issued a... 

Metallon demands $132m from Zimbabwe central bank – documents

16th May 2019 Africa-focused gold miner Metallon Corporation is demanding nearly $132-million it says it is owed by Zimbabwe's central bank, legal documents showed on Thursday, as the country's mining sector grapples with a severe dollar crunch. The central bank denied it was in arrears with the company. 

Northam Platinum plans to buy back preference shares

15th May 2019 Northam Platinum plans to buy back about 15-million preference shares out of 159-million currently in issue in the financial year ending June 2020, its chief executive said on Wednesday. The miner, one of the top platinum producers globally, wants to reward shareholders following a boost to... 

Lithium Americas names new CEO, quarterly loss shrinks

15th May 2019 Lithium Americas, which is developing lithium projects in Argentina and Nevada, said on Wednesday that its quarterly loss shrank as costs fell and sales rose, and that its CEO would retire. The company is one of a handful of junior miners around the world working to develop mines for lithium, a... 

Codelco strikes labour deal with supervisors at Salvador mine

15th May 2019 State miner Codelco, the world's top copper producer, said on Wednesday that it had agreed on a new labour contract with the union of supervisors at its small Salvador mine in northern Chile. The union and company had entered into a government mediated negotiation earlier this month after... 

Trump administration opens up Minnesota wilderness area to copper mining

15th May 2019 The US Interior Department on Wednesday renewed two mineral leases near the Boundary Waters Wilderness area in Minnesota, a key step in opening the popular wilderness and recreation area up to copper mining despite heavy opposition from local and national conservation groups. The department's... 

Zimbabwe platinum mines to ride out power cuts, gold output less secure

15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Egypt's Sisi opens huge suspension bridge over the Nile

15th May 2019 Egyptian President Abdel Fattah al-Sisi on Wednesday opened a suspension bridge over the Nile touted as the world's widest, one of a series of military-led, megaprojects designed to improve infrastructure and provide jobs. The bridge, which crosses the Nile just north of central Cairo, is a key... 

Lonmin likely to cut fewer jobs due to revenue boost – CEO

15th May 2019 Lonmin will delay or reduce the number of jobs it had planned to cut in South Africa as soaring palladium prices have boosted revenue, its chief executive said, ahead of a takeover by Sibanye-Stillwater. Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the... 

Ramaphosa says to speed up economic reforms, fix Eskom

15th May 2019 President Cyril Ramaphosa said on Wednesday that he would use a new five-year term to speed up economic reforms and fix ailing state power firm Eskom, a week after his African National Congress party was re-elected with a reduced majority. Analysts have said reforms like cutting red tape and... 

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