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Reuters

India's March gold imports halve as price rally dents demand – GFMS

9th April 2018 India's gold imports in March halved from a year ago to 52.5 t as a rally in local prices to 16-month high slashed demand in the world's second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS and bank dealers showed. The drop in purchases by India, though,... 

Rio Tinto stands to win from Rusal sanctions, US consumers to lose

9th April 2018 Rio Tinto will be among the biggest winners from the US sanctions imposed on Russian aluminium giant United Company Rusal as the penalties further shake up the global metals trade and boost costs for US consumers, industry sources said on Monday. The United States on Friday imposed the sanctions... 

Impairments push Lafarge Africa to 2017 loss, shares fall

9th April 2018 Lafarge Africa has taken a one-off impairment in Nigeria and South Africa totalling around 33-billion naira ($105-million), widening its loss before tax for 2017 from a year earlier and sending its shares tumbling. Bruno Bayet, CFO, told Reuters the impairments accounted for bulk of the loss,... 

South Africa may ask pharma firms for fee to clear drug review backlog

9th April 2018 Drugmakers in Africa's largest pharmaceutical market may be asked to pay a "backlog fee" to help clear a pipeline of medicines waiting years for approval, according to a proposal being considered by South Africa's new industry regulator. Delays for hundreds of medicines have kept the latest... 

Newmont suspends operations at Ghana mine after six workers killed

9th April 2018 Six construction workers have been killed in an accident at Newmont's Ahafo gold mine in Ghana, forcing the surface mine to suspend its operations, a local Newmont manager said on Sunday. The workers died after a tunnel roof collapsed on them at the construction site of an expanded gold... 

Lithium glut fears tempered by optimism over surging demand

9th April 2018 Warnings of a lithium glut may be premature. For one thing, doomsayers assume all the lithium in brine or hard rock deposits will get processed, but that’s not the case, said Jay Roberge, partner and managing director at Tehama Capital Corporation, a Vancouver-based merchant bank. 

Norway unions, employers agree wage deal, averting strike

9th April 2018 Norway's private-sector trade unions reached a deal on Sunday with employers over wages, pensions and other compensation, averting the outbreak of major strikes, a state-appointed mediator said after five days of negotiations. Almost 35 000 employees had been scheduled to go on strike if no... 

Embattled EPA chief's calendar shows industry had his ear

9th April 2018 US Environmental Protection Agency administrator Scott Pruitt held 25-times more meetings with industry representatives than environmental advocates during his first seven months in office, according to a Reuters analysis of his schedule, reflecting the agency's pro-business approach under his... 

Fluor tenders work to Grana y Montero for Quellaveco Peru mine

9th April 2018 US-based construction firm Fluor Corp subcontracted earth moving work on the Quellaveco copper mine, in Peru, to local company Grana y Montero, in a sign the stalled $5-billion project could be reactivated. Grana said in a statement late on Friday it had won a tender from Fluor for $53.9-million... 

Farnese blue diamond goes on sale after 300 years of royal history

6th April 2018 The historically important Farnese Blue diamond, which was passed down through European royal families for some 300 years, is to go on sale for the first time next month, auctioneers Sotheby's said. Expected to fetch between $3.7-million and 5.3-million, the 6.1 ct, dark grey-blue stone from the... 

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