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Reuters

Argentina court orders suspension of Glencore's Alumbrera mine

12th July 2017 A federal court in Argentina has ordered the suspension of activities at Glencore's Alumbrera gold and copper mine as part of a pollution complaint, according to court documents seen by Reuters on Tuesday. The mine, in the northwestern province of Catamarca, had been scheduled to shut down next... 

Manufacturing output down 0.8% y/y in May

11th July 2017 South Africa's manufacturing output fell 0.8% year-on-year in May, contracting less than expected, after falling by 4.2% in April, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would contract by 4.5% year-on-year in May. 

India's June gold imports spike as buyers tried to beat higher sales tax

11th July 2017 India's gold imports in June more than tripled from a year ago as retail demand jumped ahead of the start of a new sales tax that prompted jewellers and bullion dealers to replenish stocks, provisional data from consultancy GFMS showed. June gold imports climbed to an estimated 75 t from 22.7 t... 

South Africa's Eskom results delayed; auditors flag 'irregularities'

11th July 2017 State-run power utility Eskom said on Tuesday external auditors had raised "two reportable irregularities" with their regulatory body related to an obscure company and the reinstatement of former CEO Brian Molefe, who has since left. Eskom, which earlier postponed its annual results presentation... 

Indonesia seeks meeting with Freeport CEO to end copper mine dispute

11th July 2017 Indonesia says it will invite the head of mining giant Freeport McMoRan Inc to Jakarta this month to try to settle a festering dispute over a new deal to operate the world's second-largest copper mine. The Arizona-based company resumed copper concentrate exports from the mammoth Grasberg mine in... 

Chile receives 12 bids for value-added lithium projects

11th July 2017 Twelve companies from seven countries have applied to manufacture lithium-linked products in Chile, officials told journalists on Monday, in what they called a victory for the mining country's push to add value to its exports. Chile is part of South America's "lithium triangle," home to more than... 

Tanzania's President Magufuli says signed new mining Bills into law

10th July 2017 Tanzania's President John Magufuli said on Monday he had signed into law three Bills passed by Parliament last week, that pave the way for a rise in royalties for gold and other minerals and an overhauling of contracts in the sector. "I would like to thank Parliament for making the legislative... 

Eurofer ups EU steel demand forecast, warns on 'disastrous' US tariff plan

10th July 2017 European steel association Eurofer raised its 2017 EU steel demand forecast on Monday but said isolationist measures such as a US plan to levy steel tariffs on national security grounds could be disastrous for global trade flows. Eurofer said apparent EU steel demand, which includes inventory... 

Gold drops to lowest in nearly 4 months as higher US yields fuel risk appetite

10th July 2017 Gold slid to its lowest in nearly four months on Monday after the latest US jobs data boosted stock markets and Treasury yields, crimping demand for safe-haven bullion. Spot gold had fallen 0.5% to $1 207.03/oz by 07:38 GMT. It earlier touched its lowest since March 15 at $1 204.45. 

India in talks with Canada's Teck Resources to buy coking coal – sources

10th July 2017 India is in talks with Canada's Teck Resources, the largest North American producer of coking coal used to make steel, for long-term purchase agreements after a cyclonic disruption in Australia cut supplies earlier this year. India has joined top buyers China and Japan to scour new markets after... 

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