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Reuters

Tullow oil seeking partners in bid for additional Ghana block

7th December 2018 UK oil explorer Tullow Oil is seeking partners in a bid to acquire a new oil block in Ghana which launched its first oil bidding round in October, the company's MD Kweku Awotwi said on Thursday. Tullow is already lead operator of two oil fields in Ghana including its flagship offshore Jubilee... 

Malaysian uncertainties complicate Aussie miner Lynas' growth plans

7th December 2018 Uncertainties surrounding Australian rare earths miner Lynas Corporation's future in Malaysia have hampered efforts to plan expansion, its chief executive said. Amanda Lacaze said Lynas has been weighing options to grow its business, which would likely mean expanding beyond its current... 

Codelco agrees contract with Gabriela Mistral mine workers

7th December 2018 Chile's state copper miner Codelco said on Thursday it had reached agreement on a new collective labor contract in early negotiations with the union of workers at its Gabriela Mistral mine in northern Chile. The 36-month contract included a signing bonus of 4.2-million pesos and a 2-million peso... 

EU's largest coking coal producer seeks growth through acquisitions

7th December 2018 The European Union's largest coking coal producer JSW could increase output by between 2.5- and 3-million tonnes per year by acquiring assets, far exceeding its current plan to grow production to 18-million tonnes by 2030 from roughly 15-million now. Poland's ambitions to invest in coal have... 

Barrick Gold to sell assets, reduce head-office management - WSJ

6th December 2018 Barrick Gold Corp will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The gold miner expects to close its Randgold Resources purchase January 1, and incoming CEO Mark Bristow... 

Venezuela signs oil, gold investment deals with Russia -Maduro

6th December 2018 Venezuela has signed deals securing investment from Russia in the South American country's oil and gold sectors, President Nicolas Maduro said on Thursday at the end of a three-day trip to Moscow. "We have signed contracts to guarantee investments of more than $5-billion with our Russian... 

Vale says recent dip in global steel prices is temporary

6th December 2018 Brazil's Vale, the world's largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts. Vale CEO Fabio Schvartsman told investors in London that global capacity utilisation in the steel sector has risen to... 

Gold-backed ETFs up on stock volatility in November

6th December 2018 Gold-backed exchange-traded funds (ETFs) registered inflows in all the world's major regions in November, as volatile stock markets fueled flight-to-safety buying, the World Gold Council said on Thursday. North American funds had inflows of $352.7-million while European funds posted inflows of... 

The $3bn map – scientists pool oceans of data to plot Earth's final frontier

6th December 2018 For experts in the field of ocean mapping it is no small irony that we know more about the surfaces of the Moon and Mars than we do about our planet's sea floor. "Can you imagine operating on the land without a map, or doing anything without a map?" asked Larry Mayer, director of the US-based... 

Vale to buy mid-sized iron miner Ferrous Resources

6th December 2018 razilian miner Vale, the world's top nickel producer, is acquiring the control of Ferrous Resources, its controlling shareholder Icahn Enterprises said in a securities filing. Ferrous, which explores iron-ore, will merge into a company controlled by Vale, the filing said, and will be valued at... 

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