R/€ = 14.39 Change: 0.11
R/$ = 12.87 Change: 0.06
Au 1266.92 $/oz Change: -0.32
Pt 962.00 $/oz Change: 2.00


Freeport Indonesia workers to strike for second month - union

21st May 2017 An estimated 9 000 workers at the giant Grasberg copper mine operated by the Indonesian unit of Freeport McMoRan Inc will extend a strike for a second month, a union official said on Saturday, in an ongoing dispute over employment terms and layoffs. Freeport is at loggerheads with Indonesia over... 

Zambia, First Quantum seen resolving $1.4bn dispute in June

21st May 2017 A row that saw a State-owned Zambian company sue Canadian miner First Quantum Minerals for $1.4-billion is likely to be resolved by June, the southern African nation's Presidency said on Saturday. First Quantum asked a Zambian court in February to dismiss the suit from Zambia Consolidated Copper... 

Congo plans to reintroduce mining code revision next week

19th May 2017 Democratic Republic of Congo's government plans to reintroduce legislation in Parliament next week to revise the mining code a year after withdrawing it amid fierce opposition from mining companies, the mines minister told Reuters on Friday. The government of Africa's largest copper producer... 

Northam Platinum hunting for quality South African mines to buy

19th May 2017 South African miner Northam Platinum is searching for mines to buy but is struggling to find high-quality, mechanised operations for sale in South Africa, its chief executive said. The midtier producer, which has been bolstered by a strong balance sheet that is rare in the embattled industry, is... 

South Africa to decide on new oil refinery this year – Energy Minister

19th May 2017 South Africa, a net importer of refined oil products, needs a new refinery and the cabinet is expected to make a firm decision later this year on whether to build a new facility, the new energy minister said on Friday. Mmamoloko Kubayi told Parliament that a public-private partnership to develop... 

SQM governance changes no signal of Potash Corp interest in bigger stake – CEO

19th May 2017 Governance changes at Chile lithium producer SQM, which give shareholder Potash Corp of Saskatchewan greater influence, do not reflect any intent by Potash to raise its stake, Potash Corp's CEO said on Thursday. Three top shareholders in SQM have agreed to change the way board decisions are made... 

Mali gold exports slip in 2016 on artisanal production

18th May 2017 Mali exported 67 t of gold in 2016, down from 70.2 t in 2015, due to a slight drop in production from small-scale artisanal miners, the country's national statistics institute said on Thursday. Mali is the third biggest gold producer in Africa behind South Africa and Ghana. Record production in... 

Bank of America Merrill Lynch combines energy, mining teams – memo

18th May 2017 Bank of America Merrill Lynch has reorganised its energy, power and mining investment banking teams, combining them under the leadership of Julian Mylchreest, according to a memo seen by Reuters on Thursday. Mylchreest, head of global energy and power investment banking since 2010, will oversee... 

Nigeria's NNPC finalising $6bn worth of oil-for-product swaps

18th May 2017 Nigeria's state oil company is in the final stage of signing $6-billion worth of deals to exchange more than 300 000 bbl/d of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. The contracts, which come three months later than expected, include... 

World Bank loans Botswana $145.5m for emergency water projects

18th May 2017 The World Bank has given Botswana a $145.5-million loan to build water projects after it suffered a severe El Nino-induced drought in the past two years, Finance Minister Kenneth Matambo said on Thursday. In 2015, overall dam levels in the semi-arid southern African nation fell below 20% of their... 


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