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Aurelia Metals scraps talks to buy Glencore's CSA mine

9th May 2019 Aurelia Metals on Thursday said it was no longer in talks about a possible acquisition of the CSA mine in New South Wales, the second Australian miner since April to back off from plans to buy the Glencore-owned copper mine. Last month, Aeris Resources said it was unable to reach an agreement... 

China to promote capacity restructuring in steel, coal, coal-fired power

9th May 2019 China will encourage mergers and restructuring in the steel, coal and coal-fired power sectors this year as part of its campaign to mainstream heavy industry, the country's economic planner said in a statement on Thursday. China will eliminate all "zombie firms" by forcing them to write off or... 

Zimbabwe warns of power cuts as dam levels fall, ageing plants stutter

9th May 2019 Zimbabwe's state-owned power utility on Thursday warned it may ration electricity supplies as low water levels reduce output from its biggest hydro plant, while ageing coal-fired generators are shuttered or running at reduced capacity. Power cuts would hit the mining sector – which contributes... 

Early results suggest ANC to retain power

9th May 2019 Early vote tallies suggest South Africa's ruling African National Congress party will retain power after an election on Wednesday, but analysts said its share of the vote could fall below 60% for the first time since the end of white minority rule. 

Rio Tinto shipping more aluminium to Europe as US demand slows

9th May 2019 Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the US partly caused by the trade dispute between China and the US, CEO Jean-Sébastien Jacques said on Thursday. Jacques said that demand for Rio Tinto's products had not been impacted by the... 

MTN Nigeria gets listing approval, securities regulator says

9th May 2019 Nigeria's securities regulator has approved South African telecoms firm MTN's listing application for its $5-billion Nigerian unit. MTN Nigeria registered more than 20-billion shares before the planned listing in the West African country, MTN's biggest market with 58-million users in 2018 and... 

ANC seen winning election but support falters

8th May 2019 South Africans voting in a national election on Wednesday expressed frustration at rampant corruption, high unemployment and racial inequalities that persist 25 years after the first all-races poll marked the end of white minority rule. The vote for a new Parliament and nine provincial... 

Vale iron-ore output, sales slump after deadly Brazil dam burst

8th May 2019 Brazil's Vale said on Wednesday that its iron ore production and sales slumped in the first quarter from a year earlier, reflecting the impact of the deadly collapse of a tailings dam at Brumadinho in late January. Iron ore output fell 11% to 72.87-million tonnes while sales of the commodity... 

Barrick quarterly profit misses analysts' expectations

8th May 2019 Barrick Gold, the world's second-largest gold producer, reported first-quarter profit on Wednesday that missed analysts' expectations. In Barrick's first quarter of operations since its acquisition of Randgold Resources, the company posted net income of $111-million, or 6c a share, compared with... 

Big Four miners languish amid demand, ESG, capex concerns

8th May 2019 The world's biggest diversified miners have yet to see their share prices reflect their role as providers of the minerals needed for a shift to a low-carbon economy. Mining companies provide minerals such as cobalt used in electric vehicle batteries and copper for increased electrification, and... 


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