R/€ = 14.53 Change: 0.05
R/$ = 12.44 Change: 0.07
Au 1298.98 $/oz Change: -4.76
Pt 906.00 $/oz Change: -4.86


Angola cuts tax rates for development of marginal oilfields

22nd May 2018 Angola has halved headline tax rates for marginal oil fields as part of a series of laws to drive investment and reverse declining output in Africa's second largest crude producer. The series of presidential decrees, published in the Official Gazette on Friday and made available by the oil... 

Greece aims to resolve Eldorado standoff over metallurgy plant soon

22nd May 2018 Greece aims to resolve a long-standing standoff with Canada's Eldorado Gold over its development plans in the coming weeks, the Energy Ministry said on Tuesday. The differences between Eldorado and the government over the miner's plans to produce gold and other metals in the northern Greek... 

Land reform unlikely to mean constitutional change – analysts

22nd May 2018 South Africa looks likely to implement land redistribution under existing laws rather than by changing the constitution following a ruling party summit, in an approach more palatable to investors, analysts said on Tuesday. President Cyril Ramaphosa, who came to power in February when former... 

Nene says outlook for tax revenues unchanged

22nd May 2018 Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit. Nene made the comments in parliament. 

GE to merge transportation unit with Wabtec in $11.1bn deal

22nd May 2018 General Electric Co announced a $11.1-billion deal on Monday to merge its transportation business with US rail equipment manufacturer Wabtec Corp , with GE and its shareholders owning just over half of the combined business. The deal, first reported by Reuters on Sunday, is the biggest to be... 

US top court takes up challenge to Virginia uranium mining ban

21st May 2018 The US Supreme Court on Monday agreed to decide whether states have the right to ban uranium mining for public health reasons in a dispute over a moratorium Virginia put in place on the radioactive metal in 1982. The court will hear a bid by a Virginia Energy Resources Inc subsidiary and other... 

Mining gear maker Metso picks CEO from Finnair

21st May 2018 Finnish engineering company Metso said on Monday it had picked Finnair CEO Pekka Vauramo as its new chief executive officer. Vauramo is expected to bring stability to the business following the surprise departure of the previous CEO Nico Delvaux after less than a year in the job. 

US confirms list of 35 key minerals, targets domestic supply boost

21st May 2018 Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to its economic and national security and wants to produce more of domestically. The Department of Commerce will use the list, which was published by the Interior... 

Rusal says Deripaska has not formally resigned; reiterates sanctions may hit business

21st May 2018 Russia's largest aluminium producer Rusal said on Monday it has not received a formal resignation from director Oleg Deripaska, and reiterated that its business and prospects may be affected by US sanctions. Washington imposed sweeping sanctions last month on some of Russia's biggest companies... 

Sibanye CEO confident of Lonmin takeover despite cash burn

18th May 2018 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said. Sibanye's £285-million all-share bid to create the world's second largest platinum miner faces hurdles... 


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