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Reuters

Norsk Hydro says Alunorte problems, higher raw material costs led to earnings fall

18th March 2019 Aluminium producer Norsk Hydro said its 2018 underlying earnings before interest and tax fell by 2.15-billion crowns, due to higher raw material costs and reduced operations at Brazil's Alunorte plant, it said on Friday. The world's largest alumina refinery has been running at half its capacity... 

Russian diamond firm Alrosa 2018 net profit up 15%

15th March 2019 Russian State-controlled diamond producer Alrosa said on Friday its 2018 net profit rose 15% to 90.4 billion roubles, as a fall in sales volume was offset by stronger global prices. Though sales volume fell by 8% year-on-year, stronger pricing, particularly in the first half of 2018, meant sales... 

BRD arranges €46m loan to replace coal-fired plant in Bosnia

15th March 2019 The European Bank for Reconstruction and Development (EBRD) has arranged a €46-million financing package to replace a highly polluting coal-fired plant in the central Bosnian town of Zenica, the bank said on Friday. The new combined gas-fired cogeneration plant, Toplana Zenica, will supply power... 

KGHM does not plan to sell Sierra Gorda mine - CEO

15th March 2019 Polish mining company KGHM does not plan to sell its Sierra Gorda copper mining project in Chile, its CEO said on Friday. Marcin Chludzinski also said State-controlled KGHM, one of the world's biggest copper miners, does not currently see any further writedowns on foreign assets, after... 

Botswana's Debswana targets diamond output of 24m carats in 2019

15th March 2019 Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, aims to keep production at around 24-million carats this year, its managing director said on Friday. Debswana lifted diamond output by 6 percent to a four-year high of 24.1-million... 

South African court blocks AMCU's plans for industry-wide strike

15th March 2019 The labour court has rejected a request by platinum and gold sector union, the Association of Mineworkers and Construction (AMCU), to hold an industry-wide strike, Anglogold Ashanti, Anglo American Platinum (Amplats) and Lonmin said on Friday. AMCU has been on strike at Sibanye-Stillwater's gold... 

SQM receives Chile's approval for lithium plant expansion

15th March 2019 Chilean lithium miner SQM on Thursday received environmental approval to expand its lithium carbonate production plant, the local environmental regulator told Reuters, marking a milestone as the company seeks to boost output of the coveted ultralight battery metal. The $400-million plant... 

Advantage Lithium replaces CEO in wake of college admissions scandal

14th March 2019 Advantage Lithium said on Thursday it has temporarily replaced CEO David Sidoo after he was arrested last week by US. authorities as part of a sweeping college admissions scheme. The company, which is developing a lithium project in Argentina, has named board member Callum Grant as its interim... 

Manufacturing output up 0.3% y/y in January

14th March 2019 South Africa's manufacturing output barely grew in January, rising by 0.3% year-on-year after a flat reading of 0% in December, the statistics agency said on Thursday. Economist polled by Reuters had forecast a rise of 1.2% year-on-year in January. 

Vedanta to shut Namibian zinc refinery for five weeks

14th March 2019 Vedanta Zinc International, a unit of diversified miner Vedanta Resources, said on Thursday it would close its Skorpion Zinc Refinery in Namibia for five weeks after a strike by its mining contractor depleted stocks. "During the strike period, the Skorpion Refinery continued to run which led to... 

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