R/€ = 14.39 Change: 0.11
R/$ = 12.87 Change: 0.06
Au 1266.92 $/oz Change: -0.32
Pt 962.00 $/oz Change: 2.00


Teck Resources says does not expect snow melt to materially affect copper mine

24th May 2017 Canadian miner Teck Resources does not expect a material impact on production at its Highland Valley copper unit because of unusual spring weather earlier in May, a spokesperson said on Wednesday. The Vancouver-based company said on May 7 that rapidly melting snow had caused water to flow into... 

Glencore looking to expand agriculture business – CEO

24th May 2017 Miner and trader Glencore is looking to expand its agriculture business via its partnership with two Canadian funds, the company's CEO said on Wednesday, but has no plans to move into any commodities it does not already trade. CEO Ivan Glasenberg was speaking a day after US grains trader Bunge... 

Lonmin says re-starts two S Africa shafts after protests halted

24th May 2017 Platinum producer Lonmin re-opened two of its shafts in South Africa on May 20 after community protests stopped, a spokesperson said on Wednesday. The E2 and E3 shafts, which were temporarily closed after the community demanded jobs at the mine, were fully opened on Saturday but had been paused... 

Tanzanian President fires mining minister and chief of State-run agency

24th May 2017 Tanzania's president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports. President John Magufuli's decision, announced in a speech, signals an escalation... 

Alrosa secures stake in Angola's largest diamond deposit

24th May 2017 Russian miner Alrosa has bought a stake in Angola's Luaxe diamond deposit, it said on Tuesday, providing the company with access to a production base outside Russia. Alrosa and Endiama, the National Diamond Company of Angola, have signed a contract to secure 50.5% of what is Angola's largest... 

Westinghouse reaches deal for $800m US bankruptcy loan

24th May 2017 Westinghouse Electric Co told a US court on Tuesday the nuclear power company had reached a deal to borrow $800-million after allaying creditors' concerns that the money would be flowing to non-bankrupt affiliates overseas. Westinghouse, a unit of Japan's Toshiba Corp, filed for bankruptcy in... 

Ethiopian wins vote to be first African head of WHO

24th May 2017 Tedros Adhanom Ghebreyesus, a former health minister and foreign minister of Ethiopia, won an election on Tuesday to head the World Health Organisation (WHO), the first African to do so, edging out a veteran insider from Britain. A jubiliant Ethiopian official emerged from the closed-door meeting... 

Brazil miner Samarco says resuming operations this year challenging

24th May 2017 Brazilian iron ore miner Samarco Mineração believes resuming operations this year will be challenging, though there remains a small possibility, Roberto de Carvalho, CEO, told Reuters on Tuesday. The company, which halted operations in November 2015 after a dam burst, said talks are continuing... 

ANC dismisses Zuma removal report as 'fabrication'

23rd May 2017 South Africa's ruling African National Congress (ANC) dismissed a media report on Tuesday that President Jacob Zuma's removal would be discussed at a key party meeting this weekend as untrue. Opposition to Zuma inside the ANC and from opposition parties and civil society groups has swelled since... 

Rand firms on rumours that ANC to discuss Zuma's removal

23rd May 2017 South Africa's rand firmed more than 1.5 percent against the US dollar on Tuesday on rumours that the African National Congress (ANC) will discuss the removal of President Jacob Zuma at a major party meeting. An ANC spokesperson said the rumours were a "complete fabrication". 


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