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Cerro Verde strike may end next week if Peru rules against it

15th March 2017 An ongoing strike at Peru's top copper mine, Cerro Verde, may end next week if the labour ministry declares it illegal, the head of the union said on Tuesday after negotiations with owner Freeport-McMoRan ended without an agreement on labour demands. Workers began the strike on Friday to demand... 

Antofagasta 2016 profits surge, expects copper prices to rise

14th March 2017 Chilean copper miner Antofagasta on Tuesday reported a 79% jump in full-year earnings and raised its dividend four-fold, saying it expected commodity prices to rise further this year. The London-listed company, majority-owned by Chile's Luksic family, like other miners has recovered from a 2015... 

Union on strike at Escondida mine in Chile rejects BHP overture

14th March 2017 The union on strike at BHP Billiton's Escondida copper mine, in Chile, again rejected an invitation by the company to return to negotiations as worker demands were not adequately addressed, leaving the parties without an obvious path forward. In a statement late Monday, the 2 500-member... 

Somali pirates hijack first commercial ship since 2012

14th March 2017 Pirates have hijacked an oil tanker with eight Sri Lankan crew onboard, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012. The Aris 13 sent a distress call on Monday, turned off its tracking system and altered course for the Somali port... 

Manufacturing output up 0.8% y/y in January

14th March 2017 South Africa's manufacturing output rose 0.8% year-on-year in January, lagging market expectations, after contracting 2% in December, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would rise by 1.05% year-on-year in January. 

Bereaved families jostle rescue workers at Ethiopian landslide site

14th March 2017 Bereaved families tussled with rescue workers on Tuesday at the site of an Ethiopian rubbish dump where a landslide killed 65 people this weekend. Relatives pushed and shoved the handful of emergency workers, angrily accusing them of delays and saying dozens of people were still missing after... 

Zimbabwe mines output threatened by foreign payment delays

14th March 2017 Zimbabwe's mining output is under threat because banks are delaying processing foreign payments by up to three months due to a shortage of dollars, the southern African country's mining chamber warned on Monday. Mining generates more than half of Zimbabwe's foreign exchange and should be given... 

Growth, policy and politics remain concern to South Africa rating – S&P's

14th March 2017 S&P's Global Ratings reiterated its concerns on Tuesday about weak economic growth, political tensions and policy reform in South Africa, which faces the prospect of downgrades to its sovereign credit ratings which would raise the cost of borrowing. "If we see a lot increasing political tensions,... 

Strike at Peru's top copper mine in 4th day, output at 50% – union

13th March 2017 A strike at Peru's biggest copper mine, Freeport-McMoRan's Cerro Verde, stretched into its fourth day after a meeting between the union and management failed to resolve a dispute over labour demands, a union official said on Monday. The mine is now producing about half as much copper as it... 

Zimbabwe seeks new South African electricity supply deal

13th March 2017 Zimbabwe is negotiationg a new deal to continue importing power from South African utility Eskom to make up for shortfalls in generating capacity at its Kariba hydropower station, the country's energy minister said on Monday. In January last year Eskom agreed a one-year deal to sell up to 300 MW... 


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