R/€ = 13.44 Change: -0.01
R/$ = 12.48 Change: -0.02
Au 1244.70 $/oz Change: 0.19
Pt 959.00 $/oz Change: -1.50


Glencore hires Morgan Stanley banker as it targets investments

13th March 2017 Glencore has hired a senior banker from Morgan Stanley, two sources familiar with the matter told Reuters, as the mining giant looks at investments and acquisitions again after two years of belt tightening due to low commodities prices. The Zug, Switzerland-based company has hired Cyrus... 

Anglo American plans pay cap after shareholder revolt

13th March 2017 Major miner Anglo American is set to cap executive bonuses, it said on Monday, following a shareholder revolt last year over high payouts even when the company's share price had crashed. In its annual report, Anglo American said on Monday it would reduce maximum annual bonuses for CE Mark... 

Philippines' Duterte wants mining ban, links miners to destabilisation plot

13th March 2017 Philippine President Rodrigo Duterte on Monday accused some miners of funding efforts to destabilise his government as he talked about a possible plan to impose a ban on mining given the environmental damage producers have caused. Duterte, who has said the Southeast Asian nation can survive... 

Tanzania gives coal mining licence to Dangote after President's order

13th March 2017 Tanzania has awarded a coal mining licence to the local unit of Nigeria's Dangote Cement as part of plans to lower the company's production costs and ease disruptions caused by energy shortages. The cement maker suspended output in December, citing technical problems and high production costs,... 

At least 48 people killed in garbage dump landslide in Ethiopia

13th March 2017 At least 48 people, 15 of them children, were killed in a landslide at a huge garbage dump on the outskirts of the Ethiopian capital Addis Ababa, the city's spokesperson said on Monday. Hundreds of people live on the 50-year-old Reppi dump, the city's only landfill site, scavenging for food and... 

India's Adani applies to Aus govt fund for coal mine railway financing

13th March 2017 India's Adani Enterprises has applied for financing from an Australian infrastructure fund to build a rail line that is part of a $16-billion coal project in the state of Queensland, Australia's resources minister said on Monday. Financing from the A$5 billion Northern Australian Infrastructure... 

BHP's Escondida approaches striking union, eyes new offer

11th March 2017 Chile's Escondida copper mine, the largest in the world, has invited its union to resume talks as a first step towards ending a month-long strike, it said Friday. The strike, which began February 9 and has lasted for 30 days, is the longest in Escondida's history. With stoppages also in place at... 

Strike halts output at top Peru copper mine Cerro Verde – union

10th March 2017 Workers at Freeport-McMoRan's Cerro Verde started an indefinite strike on Friday that halted output of about 40 000 t/m at Peru's top copper mine, a union official said on Friday. Copper prices rose following the latest disruption to global supplies, amid a monthlong strike at BHP Billiton's... 

Spirit AeroSystems says ex-CEO breached retirement deal – Elliott filing

10th March 2017 Elliott Management reported in a regulatory filing that Spirit AeroSystems Holdings has said its former chief executive officer, Larry Lawson, has breached his retirement contract by consulting for the hedge fund during its proxy fight with Arconic. Elliott hired Lawson as a consultant on... 

Auction for Peru metals smelter draws zero bids in first auction

10th March 2017 No company placed a bid on Peru's nearly 100-year-old  


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