R/€ = 14.62 Change: -0.04
R/$ = 11.85 Change: 0.00
Au 1338.19 $/oz Change: 6.20
Pt 955.00 $/oz Change: -2.57


New mine to help K+S post significant earnings gain in 2018

15th March 2018 German potash miner K+S vowed to increase earnings significantly this year, as it ramps up production at its new Bethune mine in Canada and after overcoming temporary restrictions on waste water at its main domestic mine. Revenues would be tangibly higher and earnings before interest, taxes,... 

Chile's Escondida invites union to early labor talks

15th March 2018 BHP's Escondida copper mine in Chile, the world's largest, said on Wednesday that it has invited its powerful workers' union to start early talks on a new collective labor contract. Last year, a more than month-long strike at Escondida ended with workers opting to extend their previous contract... 

Polish copper miner KGHM misses forecasts with Q4 net loss

15th March 2018 Poland's KGHM, one of the world's biggest copper producers, reported a fourth-quarter consolidated net loss of 87-million zlotys on Wednesday compared to an almost five-billion zlotys impairment-driven loss a year ago. The loss came despite a rise in copper prices and contrasted with an average... 

Glencore signs massive cobalt sale deal with China's GEM

15th March 2018 Glencore, the world's biggest producer of cobalt, has agreed to sell around a third of its cobalt production over the next three years to Chinese battery recycler GEM Co, according to a filing by GEM on Wednesday. Glencore will sell 52 800 t of cobalt hydroxide to GEM between 2018 and 2020 as... 

Ramaphosa says won't allow illegal land grabs

14th March 2018 South Africa will not allow illegal land grabs, new President Cyril Ramaphosa said on Wednesday, after lawmakers backed plans for land expropriation without compensation last month. "We cannot have a situation where we allow land grabs, because that is anarchy," Ramaphosa said in a speech in... 

South Africa's Q1 business confidence rises 11 points to 45

14th March 2018 South Africa's business confidence rose in the first quarter by 11 points in a sign that the country's economy is picking up pace, a survey showed on Wednesday. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic Research rose to 45 points in the first... 

Gem recovers 169 ct diamond at Letšeng

14th March 2018 LSE-listed Gem Diamonds has recovered a 169 ct to white colour Type IIa diamond at its Letšeng mine, in Lesotho. This is the seventh diamond larger than 100 ct recover at the mine so far this year. 

Steinhoff sells part of stake in South Africa's KAP to help cut debt

14th March 2018 Crisis-hit South African retailer Steinhoff raised R3.66-billion ($311-million) from the sale of a 16.7% stake in KAP Industrial, another step in its efforts to shore up its finances and pay down debt. Steinhoff, which has more than 40 retail brands that include Conforama, Poundland and Mattress... 

SAA suspends CFO over disciplinary process

14th March 2018 State-owned airline South African Airways (SAA) has suspended indefinitely two officials including its chief financial officer, its spokesperson said on Tuesday, over a disciplinary process at the loss-making airline. CFO Phumeza Nhantsi and the head of the airline's technical unit Musa Zwane... 

China's EximBank approves $1.3bn for Guinea hydro plant

14th March 2018 China's EximBank has approved $1.3-billion in financing for a 450 MW hydroelectric plant in Guinea that the West African country's government hopes will allow it to export electricity to neighbouring countries. State-owned EximBank first agreed to fund construction of the Souapiti dam, about 50... 


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