R/€ = 15.06 Change: 0.09
R/$ = 12.92 Change: 0.12
Au 1255.03 $/oz Change: 1.19
Pt 936.50 $/oz Change: 2.50


Chile's Collahuasi copper mine cuts 115 jobs

13th July 2017 Chilean copper mine Collahuasi, a joint venture of Anglo American and Glencore, said on Wednesday it will cut 115 jobs, including executives, as part of a plan to boost efficiency amid low prices for the metal. Collahuasi, one of the world's largest copper mines, said in a statement that its... 

Saudi Ma'aden to develop Mansourah, Massarah gold mine – sources

12th July 2017 State-controlled mining firm Saudi Ma'aden plans to develop the Mansourah, Massarah gold mine, industry sources told Reuters. Ma'aden operates six gold mines in the Central Arabian Gold Region, western Saudi Arabia which contains much of the Kingdom's gold-rich ore deposits. It has recently... 

Pipelines secured as wildfires rage in western Canada

12th July 2017 Major pipeline companies in western Canada have created fire breaks, installed sprinklers and taken other measures to protect operations as raging wildfires spread to more than 38 000 ha, in British Columbia. Enbridge has taken a natural gas compressor station offline but it said on Wednesday... 

Congo to double capacity of Inga 3 hydro project in bid to cut costs

12th July 2017 Democratic Republic of Congo has decided to more than double the size of its planned Inga 3 hydroelectric plant to make it more economical, after the $14-billion project was hit by financing problems. Inga 3 is part of a $50-billion to $80-billion project to expand hydroelectric dams along the... 

Opec sees lower demand for its oil in 2018, points to surplus

12th July 2017 World demand for Opec's crude will decline next year as US shale producers and other rivals pump more, Opec said on Wednesday, suggesting the oil market will see a surplus in 2018 despite an Opec-led output cut. In a monthly report, the Organization of the Petroleum Exporting Countries forecast... 

Loss-making Air Zimbabwe cuts half its workforce

12th July 2017 Loss-making Air Zimbabwe is cutting half of its 400 jobs as part of a restructuring plan meant to revive the ailing national carrier, chairperson Chipo Dyanda said on Wednesday. Like most state-owned companies in the southern African country, Air Zimbabwe has been making losses for years due to... 

Kenya's Bamburi Cement says to increase grinding capacity by 40% by mid-2018

12th July 2017 Kenya's Bamburi said it plans to increase its cement grinding capacity by 900 000 t at one of its two plants by mid-2018 and lift total annual production capacity to 3.2-million tonnes. The company, the East African country's biggest cement maker and controlled by Lafarge Holcim, began work on a... 

Australia to pay China's Shenhua $200m to buy back mining licence

12th July 2017 Australia's New South Wales state said on Wednesday it would buy back half of a coal exploration licence from China Shenhua Energy Co Ltd, bowing to pressure from farmers and environmentalists opposed to mining on prime agricultural land. The government of Australia's most populous state said it... 

Dangote Cement aims to double size of Africa plants in three years

12th July 2017 Nigeria's Dangote Cement plans to invest about $4-billion in the next two to three years to nearly double its production capacity in Africa, a senior executive told Reuters on Tuesday. Edwin Devakumar said the company was seeking to expand across the continent to hit annual production of about... 

Alcoa to partially restart Warrick smelter in Indiana

12th July 2017 Aluminium producer Alcoa Corp said on Tuesday it would partially restart its Warrick smelter in Indiana, more than a year after closing the then largest operating smelter in the US. Alcoa expects the aluminium smelting capacity from the restart to supply its rolling mill at Warrick ahead of an... 


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