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London Metal Exchange slaps alcohol ban on open outcry traders

By: Reuters     14th June 2019 The London Metal Exchange has banned open outcry traders from consuming alcohol during the day, it said on Friday, joining other London firms in halting a culture of boozy lunches. In the past, LME traders, along with many other financial service workers, had a culture of heading to the pub at... 

Congo State miner's high-flying chief has his wings clipped

By: Bloomberg     14th June 2019 The head of the Democratic Republic of Congo’s State mining company will no longer exercise control over the business, despite being reappointed to the post, the president’s spokesperson has said. Albert Yuma, who was named president of Gecamines’s board in 2010, retained the position in a May 29... 

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Acacia investor Odey against any 'best and final' offer from Barrick

By: Reuters     14th June 2019 British hedge fund Odey Asset Management said on Thursday it would reject any offer from Barrick Gold for its stake in Acacia Mining that is framed as "best and final", becoming the second Acacia investor to publicly oppose the Canadian mining giant's buyout proposal. "Odey is not rejecting any... 

Lake Charles Chemicals Project, US

By: Sheila Barradas     14th June 2019 Sasol subsidiary, Sasol Financing USA, has entered into new US dollar-denominated senior unsecured credit facilities comprising a $1.6-billion term loan facility and a $150-million revolving credit facility. 

Oil demand signals are flashing red as price dives toward $50

By: Bloomberg     12th June 2019 Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from... 

Galantas chair Jack Gunter dies

By: Creamer Media Reporter      12th June 2019 Jack Gunter, the nonexecutive chairperson of Toronto- and London-listed Galantas Gold has died. The company said on Wednesday that Gunter had led the discovery of the Omagh gold deposits in Northern Ireland, which were currently in development. 

Erratic weather boosts energy demand, denting climate goals – BP 

By: Reuters     11th June 2019 Extreme temperatures around the globe drove a sharp acceleration in energy demand and carbon emissions last year, oil giant BP said on Tuesday, issuing a stark warning that the world risks losing the battle against climate change. And while 2018 saw another sharp pick up in renewable power such... 

Zambian government has no plans to seize First Quantum assets – sources 

By: Reuters     11th June 2019 Zambia has no plans to seize the assets of First Quantum Minerals and the copper producer intends to stay in the country despite the government's move to wrest control of a rival miner, government and industry sources told Reuters. Canadian-listed First Quantum has looked on nervously as the... 

Numsa to picket at major airports on Tuesday over 'myriad' issues

By: African News Agency      11th June 2019 The National Union of Metalworkers of South Africa (NUMSA) said on Monday that it would be picketing with the South African Cabin Crew Association (SACCA) at all the country’s major airports on Tuesday.  The protests involved "myriad" issues at South African Airways (SAA) and SAA Technical, said... 

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