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LME says plans to launch about 15 new contracts in January 2019

7th June 2018 The London Metal Exchange (LME) plans to launch around 15 new contracts from next January, including cash-settled cobalt and hot-rolled coil steel contracts, an executive said on Wednesday. "We will put in place the technical capabilities by November and then we'll launch them from January,"... 

Brazil presidential decree next week to overhaul mining rules – sources

7th June 2018 Brazil's President Michel Temer plans to issue a decree next week to overhaul the rules for mining permits, bypassing Congress after it failed to approve similar changes last year, two people with direct knowledge of the matter told Reuters. The sources, who asked not to be named because the... 

Key shareholder urges Canadian miner Nevsun to engage with suitors

7th June 2018 Nevsun Resources, a Canadian miner which has been approached regarding a takeover, should enter "good-faith negotiations with any suitor," Adrian Day Asset Management, one of Nevsun's top ten shareholders, said in an open letter to the company's board on Wednesday. "We would urge the company to... 

Seven mineworkers missing after accident in northern Mexico

7th June 2018 Rescuers were searching on Wednesday for seven workers who went missing in at a gold and silver mine in northern Mexico after a dam filled with liquid waste collapsed, authorities said. The accident occurred on Monday in the La Cieneguita mine operated by Minera Rio Tinto and Pan American... 

Seriti Resources interested in Optimum Coal as it looks to export

6th June 2018 South African miner Seriti Resources wants to move into exporting coal and would be interested in buying the assets and quotas of the Gupta family's Optimum Coal, its CEO said. Bidding for Optimum Coal would pit Seriti, which has ambitions to become a black-owned mining champion, with bigger... 

Africa's largest fishing firm Oceana could lose fishing rights in Namibia

6th June 2018 Africa's largest fishing company Oceana Group faces a battle to hold onto its fishing rights in Namibia after the southern African country said listed firms would no longer be awarded quotas. Bidvest Namibia, which is listed on Namibia's stock exchange, could also lose its local fishing rights... 

Congo mining revenues triple in Q1; oil revenues down 11%

6th June 2018 Democratic Republic of Congo's (DRC's) revenues from its mining sector tripled year-on-year in the first quarter of 2018 to $397.86-million, finance ministry data showed. Revenues from the oil and gas sector dropped 10.87 percent year-on-year in the first quarter to $29.45-million, according to... 

Angola to change diamond sector to attract investment – Lourenço

6th June 2018 Angola will make changes to how its secretive diamond industry works in order to attract more investment, increase production and secure higher government revenue, President João Lourenço said on a visit to Antwerp, Belgium. Africa's second-largest crude producer is trying to open up and... 

South Africa's business confidence index eases again in May

6th June 2018 South Africa's business confidence fell for a fourth month in a row in May, mainly due to a slide in trade activity and higher consumer inflation following a hike in Value Added Tax. The South African Chamber of Commerce and Industry's (Sacci) monthly business confidence index (BCI) fell to 94.0... 

Chile's SQM hires former chairperson Ponce as adviser, government says

6th June 2018 Chilean lithium miner SQM has retained former chairperson Julio Ponce as an adviser, according to Chilean state development agency Corfo, despite an agreement to distance himself from the firm to end a long-running royalties dispute. Ponce and his brother Eugenio, a former president of the... 

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