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Reuters

Striking union at BHP's Escondida says it is open to further conversations

21st March 2017 The union for striking workers at BHP Billiton's Escondida in Chile, the world's largest copper mine, said after meeting with the company on Monday that it was open to further conversations that could lead to reopening negotiations. "At this time, both parties are doing their own evaluation.... 

$60m 'Pink Star' diamond goes back on sale next month

21st March 2017 A 59.60-ct diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60-million, three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong Kong on... 

Peru mine output stranded after rains disrupt rail shipments

21st March 2017 Heavy rains in Peru have disrupted train transport of minerals from the country's central region to the Pacific Coast, and the train line could take at least 15 days to fix, VP and Transport Minister Martin Vizcarra said on Monday. The government is coordinating with mining companies to find... 

Striking union, BHP Billiton's Escondida mine to meet Monday

21st March 2017 Striking workers at BHP Billiton's Escondida copper mine in Chile, the world's largest, said they will hold negotiations with the company on Monday, but the union imposed a condition that it will only discuss workers' three main demands. Union members have also given union leaders authority to... 

Elliott demands review of Arconic's voting deal with Oak Hill

21st March 2017 Hedge fund Elliott Management, which is in the throes of a proxy battle with Arconic Inc, demanded on Monday an independent review of the company's voting agreement with private equity firm Oak Hill Capital Partners. Last week, Arconic disclosed that in August 2016 the company had reached a... 

World Bank to lend Tanzania $2.4bn over three years for infrastructure projects

20th March 2017 The World Bank will lend Tanzania $2.4-billion over the next three years to finance infrastructure projects, the bank's president Jim Yong Kim said on Monday. Tanzania is seeking financing for infrastructure projects as part of its plans to transforming the country into a regional transport and... 

Gold hits 2-wk high as Fed rate outlook weighs on dollar

20th March 2017 Gold prices hit a two-week high on Monday as the dollar slumped to near 6-week lows after the US Federal Reserve's dovish outlook on the pace of rate increases this year continued to disappoint dollar bulls. Spot gold rose 0.5% to $1 234.60/oz by 0735 GMT, after earlier touching $1 235.50/oz, its... 

ArcelorMittal consortium submits top bid for Italian steel plant

20th March 2017 ArcelorMittal, the world's top steelmaker, and Italian processor Marcegaglia have offered €1.6-billion ($1.72-billion) to buy Italy's troubled Ilva steel plant, outbidding a rival consortium, three sources said on Friday. The rival group that includes India's JSW Steel bid €1.2-billion for the... 

$60m 'Pink Star' diamond goes back on sale next month

20th March 2017 A 59.60 ct, mixed cut diamond known as "The Pink Star" is returning to auction next month and could fetch a record $60 million, three years since it was sold for even more - only for the buyer to pull out of the deal. The diamond was presented by Sotheby's in London ahead of the auction in Hong... 

Algerian State energy firm Sonatrach replaces CEO

20th March 2017 Algerian state energy firm Sonatrach has replaced CE Amine Mazouzi after less than two years in the job, naming Abdelmoumen Ould Kadour to replace him, the energy ministry said on Monday. A statement from the ministry gave no reason for the change. Ould Kadour is an engineer who graduated from... 

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