R/€ = 16.29 Change: 0.01
R/$ = 14.29 Change: 0.06
Au 1248.52 $/oz Change: 0.16
Pt 794.22 $/oz Change: 1.21


Canada's construction steel buyers face tariff 'roulette'

4th December 2018 Canadian steel buyers are racing to get construction steel into the country to claim first-come, first-serve exemptions from tariffs that were meant to stabilize the country's market in the wake of US President Donald Trump's metals tariffs. With steel prices already high, the companies that... 

Congo declares cobalt 'strategic', nearly tripling royalty rate

4th December 2018 Democratic Republic of Congo has declared cobalt a "strategic" substance, a government decree showed on Monday, nearly tripling the royalty rate miners will pay on the key component in electric batteries to 10%. Prime Minister Bruno Tshibala signed the decree, which is dated November 24, despite... 

Congo State miner in production-sharing deal with Chinese firm

3rd December 2018 Congo's Gecamines said on Monday it had signed a production-sharing deal for copper and cobalt deposits with HongKong Excellen Mining, which will pay a $40-million signing bonus. Democratic Republic of Congo is Africa's top copper producer and the leading miner of cobalt, which is used for... 

Glencore says cobalt contract 'nonperformance' hits outlook for marketing earnings

3rd December 2018 Mining and trading giant Glencore said on Monday some customers had reneged on contracts for cobalt, a key metal for electric car batteries, contributing to a cut in earnings guidance for its marketing arm. A presentation released ahead of an investor call said: "Cobalt – some customer... 

Nigerian court to hear MTN and attorney general case on Feb 7 – registrar

3rd December 2018 A Lagos court hearing concerning a dispute between South African telecoms firm MTN Group and Nigeria's attorney general over a $2-billion tax demand will take place on Feb. 7, a registrar said on Monday. MTN faces a $2-billion tax demand from the country's attorney general, a claim which the... 

South Africa faces more power cuts, raising Ramaphosa reform risk

3rd December 2018 South Africa faces more power cuts, electricity utility Eskom warned on Monday as it sought to prevent the collapse of its power grid in a test for President Cyril Ramaphosa's reforms. Eskom implemented a fifth day of controlled power cuts on Monday, putting more strain on an economy already... 

Germany seeks private funds for climate projects in Africa, elsewhere – newspaper

3rd December 2018 Germany will unveil an initiative at UN talks on climate change this week to attract more private investment in projects in Africa and elsewhere, Development Minister Gerd Mueller said. Mueller told the RND newspaper network that Germany would "send a strong signal" at the UN climate conference... 

Indigenous rights 'invisible' as Ecuador pushes mining, oil projects– UN

3rd December 2018 Excluding indigenous Ecuadoreans from the country's development plans has made their rights "invisible", a UN expert said, citing a government push to approve oil and mining projects to extract resources from their territories. Victoria Tauli-Corpuz, the UN Special Rapporteur on the Rights of... 

Mining industry leadership set for changing of the guard

3rd December 2018 Titans of the mining industry who have led the industry through myriad storms for decades are set to retire over the next few years, a once-in-a-generation turnover that has sparked a search for fresh talent with far different skills than current executives. Ivan Glasenberg, chief executive of... 

Codelco strikes contract deal with workers at Ministro Hales mine

3rd December 2018 Chile's State copper miner Codelco said on Saturday it had reached agreement on a new collective labor contract with the union of workers at its Ministro Hales mine in northern Chile. The 36-month contract, which includes a signing bonus of seven-million pesos and a boost to salaries of 1.2%,... 


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