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Chile's Supreme Court signals death knell for Kinross gold mine

11th October 2018 Chile's Supreme Court upheld an environmental order for a gold mine owned by Canada's Kinross Gold Corp to close its water pumping wells, the environmental regulator said on Wednesday, bringing the curtain down on a long-running dispute that sparked the Toronto-based miner's retreat from Chile.... 

South Africa gets $35bn in investment pledges towards $100bn goal

11th October 2018 South Africa has investment commitments of $35-billion as part of plans by President Cyril Ramaphosa to attract $100-billion over the next five years to revive the country's flagging economy, his economic adviser told Reuters on Wednesday. Ramaphosa has appointed a team of investment envoys -... 

Rio Tinto to restart sale of Icelandic aluminium plant – sources

10th October 2018 Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350-million, two sources familiar with the matter said. The assets include a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish... 

Hydro CEO says focus on full output at Alunorte, no layoffs

10th October 2018 Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there, CEO Svein Richard Brandtzaeg told Reuters on Wednesday. Hydro had said last week it would close down the world's largest alumina refinery and lay off 4... 

Dollar shortage 'short-term problem' for miners in Zimbabwe – Minister

10th October 2018 A dollar shortage that has sparked outrage from mining companies operating in Zimbabwe is a "short-term problem" that will be remedied by a stronger economy, the mines minister told Reuters. Zimbabwe is suffering acute shortages of US dollars, deterring foreign capital from helping the ailing... 

Vinci lays first kilometre of fully-recycled motorway

10th October 2018 Road building company Eurovia and its parent Vinci have laid a kilometre of motorway using only recycled asphalt from a mobile plant, a world first that they said could help reduce the cost of motorway maintenance and cut pollution. The mobile recycling plant can be disassembled and moved along... 

Trade rules need to address Chinese excess capacity – EU's Moscovici

10th October 2018 Any rewrite of global trading rules must deal with the issue of excess industrial capacity in China, European Commission Economic Commissioner Pierre Moscovici said on Wednesday. "We absolutely need to address the issue of overcapacities in China. Nobody can say that this is not a problem. This... 

BHP aims to restart Olympic Dam copper facility this month

10th October 2018 BHP expects a plant at its Olympic Dam mine to restart this month following repairs and the company has found a way to deliver returns from the asset as part of a focus on maxmising productivity, its head of Australian operations said on Tuesday. "The expectation remains that we'll have that... 

Poland's KGHM focused on balance sheet, not dividends

10th October 2018 Polish miner KGHM, one of the world's leading copper producers, is focusing on shoring up its balance sheet rather than any early return to dividends, its new CEO said. Marcin Chludzinski, who was named CEO in June, said he will deliver an updated strategy for the company by the end of the year. 

Codelco plans to raise $1bn in 2019

10th October 2018 Chile's State-owned miner Codelco, the world's largest copper producer, plans to raise up to $1-billion next year to help finance the overhaul of its existing mines, chairperson Juan Benavides said on Tuesday. Benavides also said the company was looking at exploration projects in Brazil, Ecuador... 

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