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Reuters

Anadarko seeks to raise $14bn to $15bn for Mozambique LNG project

18th May 2018 Anadarko Petroleum is seeking to raise a record $14-billion to $15-billion from banks and export credit agencies for its huge liquefied natural gas (LNG) project in Mozambique, sources close to the matter said. Fast-growing gas demand from China and Southeast Asia is reassuring export project... 

Zimbabwe mines need $11bn investment to modernise

18th May 2018 Zimbabwe needs up to $11-billion to modernise its mines and boost production to maximum capacity over the next five years, the head of the country's Chamber of Mines said on Friday. Foreign investor interest in the southern African nation is growing after the fall of longtime leader Robert Mugabe... 

Eritrea 'poison pill' complicates miner Lundin's aspirations – sources

18th May 2018 The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources is designed to bag the Timok project in Serbia, but it had to... 

Zimbabwe lithium excites but projects face funding hurdle

18th May 2018 Zimbabwe has a small window of up to 24 months to start producing battery grade lithium and ride the wave of high prices, miners said on Thursday, but the country's high political risk made financing projects difficult. Since the fall of Robert Mugabe after a de facto military coup last November,... 

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

China's Jinchuan to double African copper, cobalt output – exec

17th May 2018 China's Jinchuan Group International Resources plans to double its African copper and cobalt production in the next two to three years, its CEO said on Thursday. The company currently produces around 50 000 tonnes of copper and 5 000 tonnes of cobalt a year, Gao Tianpeng said at the LME Asia Week... 

Aspen secures €3.4bn credit line

17th May 2018 Aspen Pharmacare, Africa's biggest generic drugmaker, said on Thursday it had secured a €3.4-billion ($4-billion) credit facility for refinancing debt at three of its subsidiaries. Aspen, which has operations in 50 countries, said the facilities were 70 percent oversubscribed and would be used... 

Anglo looks to sell Peru copper stake to Japanese firms – sources

17th May 2018 Anglo American is likely to sell up to 30% of its multi-billion dollar Peruvian copper project Quellaveco to Japanese entities, including Mitsubishi, which already own part of it, three sources familiar with the matter said. The London-listed miner said in its 2017 financial results it is... 

Tanzanite miner gets bill as Tanzania cracks down on lost mineral revenues

17th May 2018 Tanzanian gemstone miner Tanzanite One has agreed to pay compensation and overdue taxes to the government after unspecified violations led to losses in public revenues, the President's office said. President John Magufuli's government accuses mining firms of cheating Tanzania out of its fair... 

Canada March factory sales rise on metals, aerospace

16th May 2018 nadian manufacturing sales increased more than expected in March on strength in primary metals, aerospace products and parts, fabricated metals and other transportation equipment, Statistics Canada reported on Wednesday. Factory sales rose 1.4%, surpassing the 1.2% gain expected by economists,... 

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