R/€ = 14.39 Change: 0.11
R/$ = 12.87 Change: 0.06
Au 1266.92 $/oz Change: -0.32
Pt 962.00 $/oz Change: 2.00


South Africa farm minister sees no land expropriation without payment

17th May 2017 South Africa's ruling African National Congress (ANC) is not likely to approve any expropriation of land from white farmers without paying compensation, the agriculture minister said on Tuesday after President Jacob Zuma mooted such an idea. Faced with opposition mainly from ANC's urban base,... 

More South African mining jobs at stake on policy uncertainty – Amplats CEO

17th May 2017 Policy uncertainty in South Africa and low commodity prices are hurting investment in the mining sector and will lead to further job cuts, the chief executive of the world's biggest platinum miner, Anglo American Platinum (Amplats), said on Tuesday. The embattled industry is waiting for the... 

Hong Kong-listed IRC says could reopen Russia iron-ore mine

17th May 2017 Commodity company IRC on Wednesday said it was considering restarting its 1.1-million tonnes per year iron-ore mine in the far east of Russia, the latest sign of revival in a sector shaking a years-long downturn. "Following the positive price movements in 2017 and the recent stabilisation in the... 

Vale to shutter nickel mine in Canada; up to 200 jobs at stake

16th May 2017 Vale Canada said on Tuesday it would suspend operations at its Birchtree nickel mine, in the province of Manitoba, on October 1, because of weak nickel prices and declining ore grades as the small, 51-year-old mine nears the end of its life. The suspension will result in up to 200 job losses and... 

Colombia's mining sector could receive $1.5bn/y over 5 years

16th May 2017 Mining could become Colombia's economic growth engine with investments of at least $1.5-billion a year over the next five years if the government guarantees legal certainty to businesses, the industry's top representative said on Tuesday. Major mining companies are urging the government to... 

Colombia coal output up 3% in first quarter

16th May 2017 Colombia's coal output rose 3% to 22.2-million tonnes in the first quarter of this year, compared with the same period in 2016, the national mining agency said in a statement on Tuesday. 

Miners increase green energy use to power their pits

16th May 2017 Major mining companies, including some of the world's biggest suppliers of fossil fuel, are seeking to use more renewable energy themselves as they strive to drive down costs and curb emissions. Glencore, the world's biggest shipper of seaborne coal, said in Tuesday's 2017 sustainability report... 

Glencore, Carlyle team up to rescue bankrupt Moroccan refinery

16th May 2017 Swiss trading giant Glencore and US private equity investor Carlyle Group have teamed up in an attempt to buy Morocco's only oil refinery, hoping to recoup about $600-million in loans they issued to the plant before it went bankrupt, industry sources said. Two sources close to the process said... 

G20 must tackle distortions on global steel markets – German minister

16th May 2017 The world's 20 biggest economies must jointly tackle the causes of imbalances on global steel markets, German Economy Minister Brigitte Zypries told Reuters on Tuesday, adding she had addressed the issue also in talks with Chinese counterparts. "We must work together on the causes of market... 

South Africa grain group sees 3.5Mt maize surplus this year

16th May 2017 South Africa producer group Grain SA expects a surplus of 3.5-million tonnes of maize when this season’s harvest is complete and aims to export all of it with orders in from Japan, South Korea and Taiwan, its chief executive said on Tuesday. South Africa will likely harvest 14.54-million tonnes... 


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