R/€ = 14.53 Change: 0.05
R/$ = 12.44 Change: 0.07
Au 1298.98 $/oz Change: -4.76
Pt 906.00 $/oz Change: -4.86


Solidarity seeks at least 10% wage hikes in gold sector

11th May 2018 South Africa trade union Solidarity has submitted wage hike demands in the gold sector of at least 10% annually over the next three years, according to a document submitted to the Chamber of Mines seen by Reuters. Solidarity only represents about 2% of the workforce in South Africa's gold mines... 

Implats seeks bidders for Marula tailings facility

11th May 2018 South Africa's Impala Platinum (Implats) is seeking tenders to build a tailings or waste storage facility at its Marula mine in a positive sign for a site recovering from community protests that sent its shares higher. The company posted an advertisement on Friday in the local Mail & Guardian... 

India's thermal coal imports rise over 15% in Q1 – trader

11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... 

SAA to get R5bn capital injection after plea for cash – CEO

11th May 2018 South Africa has promised another R5-billion ($400-million) capital injection to help its struggling state airline meet urgent financial obligations, the CEO of South African Airways (SAA) said on Thursday. SAA has not generated a profit since 2011 and has already received State guarantees... 

Rusal's first quarter earnings jump, but warns on sanctions impact

11th May 2018 Russian aluminium giant Rusal boosted first-quarter recurring net profit on Friday amid stronger aluminium prices, but warned that sanctions imposed by the United States in April could harm its business. Washington last month announced sanctions on Russian billionaire Oleg Deripaska and several... 

No casualties in fire at Russia's Raspadskaya coal mine, Evraz says

11th May 2018 No miners were hurt in a fire that broke out on Thursday at Russia's Raspadskaya coal mine, steelmaker Evraz said. Evraz, which controls Raspadskaya, said all miners had been evacuated and that the blaze is thought to have started in the mine's technical equipment. 

Ethiopia suspends gold mining firm's licence after weeks of protests

10th May 2018 Ethiopia has suspended a gold mining firm's licence after weeks of protests in a town near the mine by local people who accuse the company of polluting their source of water and the atmosphere, a government official said. "The ministry suspended the licence in response to the demands of the... 

Egypt signs MoU with China's GCL for $2bn solar panel factory

10th May 2018 China's GCL Group has signed a memorandum of understanding (MoU) with Egypt's ministry of military production to build a solar panel facility at a cost of up to $2-billion, State-run newspaper Al-Ahram reported on Thursday. Under the MoU, which was signed on Wednesday, the facility will... 

Weak mining, manufacturing data put pressure on South Africa recovery

10th May 2018 South Africa's mining and manufacturing industries contracted in March as policy uncertainty and lukewarm demand weighed on output, threatening to reverse a fragile economic rebound. Mining production in March suffered its sharpest fall in two years and industrial output dropped, Statistics South... 

How Trump's steel tariffs kick the can business

10th May 2018 Dan Vincent is in a bind. The president of Pacific Coast Producers (PCP) plans to use around 700-million tin-coated steel cans this year for tomatoes, peaches and pears from 168 growers here in California. 


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