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Reuters

Macro disquiet drowns out signs of base metals shortages

4th October 2018 Uncertainty about how metals demand will be hit by trade wars, rising US interest rates and a slowdown in China is weighing on industrial metals prices, submerging signals pointing to potential shortages. The index of copper and five other top industrial metals traded on the London Metal Exchange... 

BHP sees major copper demand boost from China's widening belt and road

4th October 2018 China's overseas expansion will spread over land that is home to more than half the world's population, potentially boosting copper use by 1.6-million tonnes, or roughly 7% of annual demand, major miner BHP said on Thursday. BHP has analysed the impact of China's Belt and Road Initiative (BRI),... 

BHP'S Kalgoorlie nickel smelter restarts after fire - BHP

4th October 2018 Production at BHP's Kalgoorlie nickel smelter restarted on Wednesday after a fire last month, a company spokeswoman said on Thursday. "There was a fire at the BHP Nickel West Kalgoorlie Smelter on September 23 in the furnace building. The smelter is operating and production restarted again... 

Chile weighs arbitration with top lithium producer Albemarle

4th October 2018 The Chilean state agency that oversees lithium mining in the country´s Atacama salt flat will decide within a week whether to take top producer Albemarle Corp to arbitration in a contract dispute, an attorney for the agency said on Wednesday. Maria Elina Cruz, an attorney for Chile state... 

Mining firms say Zambia's tax hike plan would ruin economy

4th October 2018 Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry, companies said on Thursday, a further warning to investors already concerned about the country's mounting debt. Several mines would become unprofitable if the tax plans were implemented with overall... 

Exxaro eyes South32's coal assets, export quota - CEO

3rd October 2018 South African miner Exxaro is eyeing South32's local coal assets, which include an export quota, as it looks to increase its exports, Exxaro's CEO told Reuters on Wednesday. "We have expressed interest at this very early round in the South32 assets," Mxolisi Mgojo said on the sidelines of the... 

Russia to maintain dialogue with oil producers – Putin

3rd October 2018 Russia will maintain its dialogue with global oil producers in order to keep oil markets balanced, Russian President Vladimir Putin said on Wednesday. He also said, at the Russian Energy Week forum in Moscow, that Russia will strengthen its position in Asian coal markets amid steadily rising... 

South Africa's service industry looks to cash-in on Brexit uncertainty

3rd October 2018 South Africa’s burgeoning call services sector, which gets more than half its work from Britain, could attract larger inflows as the impact of Brexit weighs and firms seek savings by moving operations offshore, industry officials said on Wednesday. Cultural affinity, good English language skills... 

Unions agree 3-year Harmony Gold wage deal

3rd October 2018 Harmony Gold signed a three-year wage agreement with South Africa's National Union of Mineworkers (NUM) and two other unions on Wednesday, the company and unions said on Wednesday. Harmony said in a statement that the deal would see a R700 a month pay hike in the first year for the lowest-paid... 

Goldman forecasts South African economic rebound in 2019

3rd October 2018 Goldman Sachs expects South Africa's economy to grow almost 3% next year, helped by President Cyril Ramaphosa's reforms and strong global growth, the bank's sub-Saharan Africa head told Reuters. Colin Coleman's prediction is more optimistic than the view held by economists polled by Reuters last... 

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