R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1297.29 $/oz Change: 2.55
Pt 933.00 $/oz Change: 0.00


Rally in zinc price raises spectre of substitution

19th September 2017 A sharp rally in zinc prices is posing the threat that industrial users will find ways to substitute the metal with cheaper alternatives or use less, curbing overall consumption. High prices may also dampen a nascent move by Chinese automakers to use more zinc for galvanising, while the Western... 

Thyssenkrupp works council softens opposition to Tata Steel deal

19th September 2017 Thyssenkrupp's works council is prepared to consider a merger of the group's European steel operations with those of Tata Steel, even though it remains opposed to such a move as a way to restructure the business. "Negotiations will be difficult," Wilhelm Segerath, head of Thyssenkrupp's works... 

Miner Goldplat seeks to tame Africa risk

19th September 2017 Upheaval in Tanzania, where the government has made huge tax demands and seized minerals, has triggered changes in neighbouring Kenya, which should reassure the industry, said the CEO of Goldplat, which operates a gold mine there. Chief Executive Gerard Kisbey-Green said he was nevertheless... 

Zambia to tender for fourth voice mobile service provider

19th September 2017 Zambia plans to invite bidders for a fourth mobile phone voice service provider following approval of a new licensing regime, the Minister of Transport and Communication said on Tuesday. Zambia approved a law in June allowing more mobile phone voice service providers to boost competition. 

PSG Group invests $50m in local property business Amdec

19th September 2017 South Africa's PSG Group spent R675-million ($50.77-million) for a 50% stake in Evergreen Lifestyle, part of local property business Amdec, as it eyes expansion into the lucrative retirement property sector, the companies said on Tuesday. "Our investment mandate is to invest in and work with... 

Congo's Gecamines to set new rules on mining proceeds

19th September 2017 Congo's Gecamines will implement new controls to "hold its partners accountable" in copper and cobalt projects, the state miner said on Tuesday. Gecamines' partners on mining projects include Glencore, China Molybdenum and Ivanhoe. The company said it will initiate discussions with its partners... 

Brazil mining reform is raising costs for industry – Vale exec

19th September 2017 Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron-ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new... 

Brazil's Vale to meet debt target before implementing new growth plans – exec

19th September 2017 The new growth strategy being evaluated by Brazil's Vale would only be implemented once the company meets its debt reduction targets, an executive director for the world's largest iron ore producer said on Monday. The company is also interested in investing in the electricity sector itself or... 

Ukraine's DTEK says power output, import contracts at risk if tariff not raised

18th September 2017 The head of Ukraine's largest private power and coal producer, DTEK, said the company may have to halt production at one of its power plants or suspend import contracts if the government does not raise tariffs to account for expensive anthracite imports. Pro-Russian separatists seized control of... 

Botswana seeks option to buy unusually big diamonds from its mines

18th September 2017 Botswana is amending its law to give the government the first option to buy diamonds that are unusually large or have other unusual features found in its mines, such as the world's second-biggest 1 109 ct diamond discovered two years ago. The cornerstone of Botswana's success has been one... 


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