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Pt 953.50 $/oz Change: 5.50


US signs $524.7m investment compact with Côte d'Ivoire

8th November 2017 The Millennium Challenge Corporation, the US government's main development fund, said on Tuesday it had signed a $524.7-million investment compact with Côte d'Ivoire to build schools and improve roads around the busy port in the commercial capital Abidjan. The five-year compact was signed at the... 

Tullow Oil raises FY production guidance on Ghana fields

8th November 2017 Tullow Oil Plc raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85 000 bbl/d to 89 000 bbl/d compared... 

Glencore extends lockout at Australia coal mine as talks stall again

8th November 2017 Glencore has extended a lockout of 190 workers at a coal mine in eastern Australia for a further two weeks after the latest attempt to end a long-running labour dispute failed, the company and a trade union said on Wednesday. The Oaky North mine is largely being operated by non-union staff and... 

McEwen Mining targeting acquisition spree to get S&P listing

8th November 2017 McEwen Mining is on a buying spree as the Canadian gold company aims to grow its market capitalisation by more than five times to achieve its ambition of a listing on the S&P 500, chief owner Rob McEwen said on Tuesday. The Toronto company is seeking to buy several assets, ideally distressed... 

China iron-ore hits six-week high, but steel output curbs to weigh

7th November 2017 Iron ore futures in China rallied to their highest in nearly six weeks on Tuesday, extending recent gains along with steel prices, although steel production curbs over winter suggest further price increases in the raw material may be limited. Chinese cities have ordered their steel mills to cut... 

Finland's Nokia joins Vodacom to trial 5G technology in South Africa

7th November 2017 Finnish network equipment maker Nokia will trial its 5G technology in South Africa in collaboration with Vodacom Group, the firms said on Tuesday, as they seek to provide faster data delivery. Under a Memorandum of Understanding with Vodacom, Nokia will share its latest 5G innovations including... 

Uber bullish on Africa despite opposition from local taxi firms

7th November 2017 Ride-hailing service Uber Technologies is growing rapidly in sub-Saharan Africa and considering moves into more markets, despite sometimes violent opposition from metered taxi drivers, a senior executive said on Tuesday. Uber's service has triggered protests by rivals from London to New Delhi as... 

Egypt to award 12-cargo LNG tender to Gas Natural Fenosa, Swiss traders – trade sources

7th November 2017 Egypt is expected to award its 12-cargo liquefied natural gas (LNG) tender to Spain's Gas Natural Fenosa and three Swiss-based trading houses for supplies in the first quarter of 2018, trade sources said. The final allocation may change but traders currently expect Egyptian Natural Gas Holding... 

China urged to ease reliance on DRC for cobalt

7th November 2017 China is depending too much on the Democratic Republic of Congo (DRC) for cobalt, a crucial component in electric vehicle (EV) batteries, and should take steps to ensure security of supply, delegates said at an industry conference on Tuesday. China, the world's top cobalt consumer, is... 

Brazil regulator rejects Vale bid to change output target for railroad

7th November 2017 Brazil's transportation regulator ANTT has rejected a request from Vale, the world's top iron-ore producer, to change its production goals for the Carajas Railroad this year, according to a notice by the Official Gazette on Monday. Production goals for Vale's Carajas project, the world's largest... 


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