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Reuters

Anglo American expects to obtain permit for Minas-Rio mine by June 2019

16th August 2018 Miner Anglo American Plc expects to obtain licences to expand its Minas-Rio multibillion-dollar iron-ore mine in Brazil by June next year, the company's CEO for Brazil Ruben Fernandes told Reuters on Wednesday. Minas-Rio is Anglo American's biggest development project, but it is still in ramp-up... 

Russian miners explore payment schemes eschewing dollar

15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

Two workers die at Dubai aluminium furnace, EGA says

15th August 2018 Two workers died at an industrial furnace in Dubai, reportedly by burning to death, the operator of the plant said on Tuesday. Emirates Global Aluminium said the accident took place on Monday as the men "were working at an industrial furnace, which was shut down for routine maintenance and was... 

ANC chairperson wants state to seize land from those with over 12 000 ha

15th August 2018 National Chairperson of the African National Congress (ANC) Gwede Mantashe gestures at the end of the 54th National Conference of the ruling ANC at the Nasrec Expo Centre in Johannesburg, South Africa, December 21, 2017. REUTERS/Siphiwe Sibeko JOHANNESBURG (Reuters) - The chairman of South... 

Rand slumps as Moody's says fiscal consolidation slows

15th August 2018 The rand slumped on Wednesday as ratings agency Moody's warned that the pace of fiscal consolidation in Africa's most industrialised economy had slowed. Moody's is the only one of the "big three" ratings agencies which still has South Africa's sovereign rating in investment grade, so any hint... 

What is driving a rally in EU carbon permit prices?

15th August 2018 The Benchmark European carbon price hit a 10-year high on Wednesday, marking a near 130% rise this year, with prices set to continue climbing over the next few years. The European Union's Emissions Trading System (ETS) charges power plants and factories for every tonne of carbon dioxide (CO2)... 

First-half diamond sales down 16% at Botswana's Okavango

15th August 2018 Sales at Botswana's State-owned Okavango Diamond Company (ODC) fell 16% in the first half of 2018 to $260-million, its managing director said, citing a high comparison base against last year's record growth. Marcus ter Haar said the company sold 1.778-million carats in the first half of 2018... 

Hochschild H1 pre-tax profit jumps 90% on higher grade ores

15th August 2018 Britain's Hochschild Mining reported on Wednesday a 90% jump in pre-tax profit for the first half, helped in part by higher grade ores from its Peruvian mines Inmaculada and Pallancata. The century-old miner, which has been spending heavily on land around existing mines, or brownfield... 

South Africa's 2018 growth to be 'much lower' than initial forecasts – SARB

15th August 2018 South Africa's economic growth this year will be "much lower" than initial expectations, the South African Reserve Bank (SARB) said in a presentation to Parliament on Wednesday, calling any recovery "weak and choppy". The SARB added that fixed investment was not expected to pick up meaningfully... 

Cable theft disrupts Metrorail's Joburg-Pretoria train service

15th August 2018 Metrorail has said its technical teams are busy replacing stolen cables after its train service between Pretoria and Johannesburg was disrupted on Wednesday morning due to missing overhead wires on both lines at Olifantsfontein. As a result, trains from Johannesburg are turning around at... 

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