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Reuters

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Investor TCI demands UK's LSE answer more questions in board tussle

16th November 2017 Activist investor TCI has demanded the London Stock Exchange answer a series of questions ahead of a shareholder meeting called by the fund to oust the chairperson over his handling of the planned replacement of its chief executive. Among the questions TCI wants answered by the LSE board before... 

Vale CEO Schvartsman cuts investments in low-return segments

16th November 2017 Vale will halt new investments in low-return segments like its nickel business, the company's CEO said on Wednesday. Fabio Schvarstman told investors in a conference in New York on Wednesday that he expects nickel prices to recover over the medium term, as demand for the metal rises thanks to... 

South Korea scores partial win in WTO ruling on US steel pipe duties

15th November 2017 South Korea won a partial victory on Tuesday when a World Trade Organization panel ruled on its legal challenge to US anti-dumping duties on steel pipe used in the oil industry, but Seoul lost most of the arguments it had made. The WTO dispute panel faulted the US Department of Commerce for the... 

Kenya Airways completes $2bn debt restructuring

15th November 2017 Kenya Airways has finished restructuring $2-billion of debt, the carrier said on Wednesday, completing a key part of its turnaround plan after heavy losses. The airline's top shareholder, the Kenyan government, and 11 local lenders converted the bulk of their debts into shares, helping to relieve... 

Isabel dos Santos dismissed as chair of Angola's Sonangol – Presidency

15th November 2017 Angolan President Joao Lourenco has dismissed Isabel dos Santos as chair of the country's State oil company Sonangol, the President's spokesperson said on Wednesday. Dos Santos will be replaced by Carlos Saturnino, a former Sonangol executive who was most recently secretary of state for oil. 

Polish copper producer KGHM cuts 2017 investment and output targets

15th November 2017 Polish copper producer KGHM cut its 2017 capital investment to around 510-million zlotys ($141.88-million) from an expected 1.02-billion due to the improving results of its foreign assets, the company said on Wednesday. The state-run firm also said that this year's output of electrolytic copper... 

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

China's copper smelters insist no concentrate deficit after surprise Shanghai meeting

15th November 2017 China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to... 

Indonesia amends contracts with 13 coal mining companies

15th November 2017 Indonesia has amended contracts with 13 coal mining companies, including some of the country's biggest producers of the fossil fuel, as part of a shift towards a new mining permit system it expects to boost government revenues. Indonesia's 2009 mining law requires companies to transfer from... 

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