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Indonesia issues new tax rules as Freeport seeks fiscal guarantee

8th August 2018 Indonesia's president has issued new tax regulations aimed at providing clarity for mining companies shifting their current contracts to special mining permits, in a move that could help cement a $3.9 billion deal with Freeport McMoran Inc. Freeport last month signed a heads of agreement to sell... 

Alcoa's W.Australia workers walk out over labour agreement - union

8th August 2018 Alcoa workers in Western Australia have walked out indefinitely over an enterprise agreement dispute with the aluminium maker, the Australian Workers' Union (AWU) said on Wednesday. The strike comes after Alcoa applied to Australia's workplace regulator to terminate its current agreement,... 

Mozambique finalises block 5 oil deals with multinational firms

8th August 2018 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the projects. Cabinet spokesperson Ana Comoana said the companies... 

AB InBev to build new brewery in fast-growing Mozambique

8th August 2018 Anheuser-Busch InBev, the world's biggest brewer, will start building a more than two-million hectolitre a year brewery in Mozambique in the second half of next year, the company's Africa head said on Tuesday. The Mozambique investment will look to fend off competition from rival Heineken, which... 

Rosneft more than triples Q2 net profit, shares hit record

7th August 2018 Russia's largest oil producer Rosneft said on Tuesday its second-quarter net profit more than tripled to 228-billion roubles on higher production and prices, pushing its shares to an all-time peak. Rosneft, in which Qatar is set to become the third-largest shareholder after the Russian state and... 

Chile lithium exports more than double in July from previous year

7th August 2018 Chile's exports of lithium carbonate reached $85-million in July, more than double that of the same month the previous year, as demand and prices for the key component in electric vehicle batteries continues to rise, the central bank said on Tuesday. The value of exports of the metal from Chile,... 

June manufacturing output up 0.7%

7th August 2018 South Africa's manufacturing output rose by 0.7% year-on-year in June, following a revised 2% expansion in May, the statistics agency said on Tuesday. Statistics South Africa said factory production on a month-on-month basis rose 0.3% in June, and in the three months to June it fell by 0.1%... 

Tasmanian nickel mine to restart, Transamine secures offtake

7th August 2018 Privately held Dundas Mining is restarting its Avebury nickel mine in Tasmania early next year and Swiss trading house Transamine has secured the offtake, a source familiar with the matter said on Tuesday. Avebury, which had most recently been owned by China-backed MMG, was sold to Dundas last... 

Ghanaian President sacks Energy Minister, gives no reason

7th August 2018 Ghanaian President Nana Akufo-Addo sacked Energy Minister Boakye Agyarko on Monday, a statement from the presidency said, giving no official reason. Press reports said Agyarko was removed because Akufo-Addo was unhappy with his handling of an agreement to extend an existing five-year deal with... 

Australia's Yancoal says Austar mine to restart production

7th August 2018 Coal miner Yancoal Ltd said on Tuesday that it will restart its Austar coking coal mine in New South Wales state after receiving regulatory approval to resume production. Work at the mine was halted in early July following a safety dispute with the New South Wales Resources Regulator. 


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