R/€ = 14.53 Change: 0.05
R/$ = 12.44 Change: 0.07
Au 1298.98 $/oz Change: -4.76
Pt 906.00 $/oz Change: -4.86


Paulson keeps stake in gold investments during Q1 – filing

16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

Private firm takes on Codelco for control of Chile lithium deposit

15th May 2018 A foreign-backed miner has sued Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Poland's KGHM Q1 net profit falls 38%, comes tad below forecasts

15th May 2018 Poland's KGHM, one of the world's biggest copper and silver producers, reported on Tuesday a 38% annual fall in its first quarter net profit due to lower production and sales. The State-run KGHM said its net profit for the three months of the year stood at 439-million zlotys compared with... 

Norway postpones decision on carbon capture plant, drops Yara

15th May 2018 Norway postponed a final decision on whether to go ahead with a project to develop Europe's first industrial carbon capture and offshore storage (CCS) project, after dropping one of its participants, Yara International . The government said on Tuesday that fertiliser maker Yara's site, one of... 

LBMA suspends Russian precious metals refinery from 'good delivery' lists

15th May 2018 The London Bullion Market Association said on Tuesday it had suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to "ownership related issues". The refinery in Russia is controlled by Moscow-based conglomerate Renova Group, which along... 

Anglo American to spin off unit to encourage platinum demand

15th May 2018 Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply. A push, particularly in Europe and China, for lower-emission transport... 

Unemployment rate steady at 26.7% in Q1

15th May 2018 South Africa's unemployment rate was unchanged at 26.7% of the labour force in the first quarter of 2018 compared with the last quarter of 2017, the statistics office said on Tuesday. In its quarterly labour force survey which polls households, Statistics South Africa said there were six-million... 

UAE trader looking to expand into gold refining in Africa

15th May 2018 Privately held gold trader Sakthi Trading Group is planning to build two gold refineries in Africa and is looking for investors for the projects, company executives said on Tuesday. The group, headquartered in the United Arab Emirates, is seeking a total investment of $246-million for the... 

Sinosteel to invest $1bn in Zimbabwe, lift ferrochrome output

15th May 2018 China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the Southern African country's President Emmerson Mnangagwa said on Monday. Sinosteel president Andong Liu said the Chinese firm planned to build three additional... 

Britain's competition watchdog to look into Sibanye-Lonmin deal

15th May 2018 Britain's Competition and Markets Authority (CMA) said on Tuesday it would examine whether a takeover of miner Lonmin by South Africa's Sibanye-Stillwater would reduce competition. The £285-million ($386-million) deal, which would create the world's No.2 platinum producer, faces several hurdles... 


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