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Reuters

Glass Lewis, Livermore back Paulson's Detour Gold proxy fight

6th December 2018 Independent proxy adviser Glass Lewis and hedge fund Livermore Partners on Wednesday joined activist investor Paulson & Co's call to make changes to the board of Canadian miner Detour Gold. Glass Lewis recommended replacing Detour chairman Alex Morrison and two other board members with Paulson... 

Brazil prosecutors say Petrobras received bribes from Glencore, Trafigura and Vitol

5th December 2018 Brazil prosecutors alleged on Wednesday that employees at State-owned oil company Petroleo Brasileiro received bribes from trading giants Vitol, Trafigura and Glencore in return for business. Prosecutors said the companies bribed employees at Petrobras, as the Brazilian State oil company is... 

Congo mining revenues jump 147% in first 9 months

5th December 2018 Democratic Republic of Congo (DRC) collected $1.21-billion in revenues from its mining sector over the first nine months of 2018, an increase of 147.4% over the same period last year, finance ministry data showed. Revenues from the hydrocarbons sector rose 1.4% over that same period to... 

South Africa's average port tariffs to fall 6 pct next year – regulator

5th December 2018 South Africa's Ports Regulator said its average tariffs for the 2019/20 financial year will decrease by 6.27%, although coal export charges will rise, a statement seen by Reuters on Wednesday said. The coal dry bulk export cargo dues will increase by 10% from April 1 next year to March 31 in... 

Brazil launches new mining regulator in twilight of Temer govt

5th December 2018 Brazil launched on Wednesday a new mining regulator aimed at cleaning up its slow permitting process, in an 11th-hour victory for outgoing President Michel Temer's reform agenda. The National Mining Agency (ANM) will replace the previous National Department of Mineral Production (DNPM). The... 

Miners bear brunt of risk aversion as investors take fright

5th December 2018 A two-year recovery in the mining industry has faltered, as trade tensions between China and the United States and concerns about economic growth weaken commodity prices and deter investment. Institutional investors and fund managers say tighter regulations, namely MiFID, a major reform of... 

Zimbabwe to allow two new companies to mine diamonds

5th December 2018 Zimbabwe will now allow two more private companies to explore and mine diamonds in the country, bringing to four the number of firms that will operate in the sector, mines minister Winston Chitando has said. Last week Chitando said the country did not plan to change its ownership rules for... 

Private sector contracts at slower pace in Nov – Standard Bank PMI

5th December 2018 South African private sector activity shrank again in November, albeit at a slower pace than the previous month, as firms cut inventories to their lowest level in more than four years, a survey showed on Wednesday. The Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 48.2 in... 

Vale to pump $500m into nickel mine, ends partner quest

4th December 2018 Brazilian miner Vale SA, the world's top nickel producer, wants to shore up its nickel business before the electric vehicle revolution, but lowered 2019 output forecasts for the metal, a key ingredient in lithium batteries. In presentation to investors in New York, Vale executives projected the... 

Serbia's mining sector could contribute 5% of national output by 2023

4th December 2018 Serbia's mining industry could expand to 5% of national output by 2023 if foreign investors keep commitments to plough millions of dollars into copper and lithium production, its Mining Minister said. The sector currently accounts for 1% of Serbia's gross domestic product. But since 2000, when a... 

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