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ArcelorMittal halts output at Bosnia mine after railway deal fails

4th March 2019 ArcelorMittal will halt production at its Bosnian mines, with "far-reaching consequences" for employees and earnings at its ArcelorMittal Prijedor unit, after a transportation deal with a regional railway company collapsed, it said on Friday. The world's largest steelmaker operates a steel plant... 

Global miners flock to Toronto as buyout buzz spreads

4th March 2019 Consolidation among smaller gold miners is expected to be top of mind as much of the industry meets in Toronto this week, with dealmakers cautiously optimistic a fresh wave of buyouts is imminent once major pending transactions are settled. Barrick Gold's $18-billion hostile bid for rival... 

Distell eyes expansion in China, Latin America

1st March 2019 Growth-hungry South African drinks maker Distell is looking at both China and Latin America for further expansion, although the African continent - which bolstered its results for the first half of the year - remains its main focus. The company, which makes wines, spirits and ciders, is in the... 

Cash-strapped African airline Fastjet extends loan agreement terms

1st March 2019 Cash-strapped low-cost African airline Fastjet Plc said on Friday it had managed to extend the terms of a loan to March 31. Fastjet in June had entered agreements with Annunaki Investments and SSCG Africa Holdings, following which the airline lent $5 million from its Zimbabwe unit to Annunaki in... 

Dutch prosecutors target Shell over Nigeria oil deal

1st March 2019 Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3-billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor's Office (DPP) that it had nearly concluded... 

Glencore cites trade as its 'foremost risk', others rising

1st March 2019 Miner and trader Glencore said trade barriers are its "foremost risk", but climate, political, legal and other risks had become more prominent. Glencore, said in its annual report published on Friday that it was seeking to mitigate these challenges through conservative spending and strict... 

MTN expects up to 90% jump in 2018 profit

1st March 2019 Africa's biggest mobile phone operator MTN Group expects to increase profits by as much as 90% in 2018, as the company continues to recover from a regulatory fine in Nigeria. Founded with the South African government’s help after the end of apartheid in 1994, MTN is touted as one of South... 

Indonesian rescuers amputate miner's leg to save him from collapsed mine

1st March 2019 Indonesian authorities had to amputate the leg of a victim trapped under rubble to pull him out of a collapsed gold mine on Sulawesi island, as the slow and harrowing rescue operation entered its third day on Friday. But the miner, trapped with dozens of others at the illegal mining site on a... 

Peru plans to give Southern Copper key permit for long-delayed project – Minister

1st March 2019 The Peruvian government will likely grant Southern Copper Corp a construction license for its $1.4-billion Tia Maria project before its environmental permit expires in August, the Energy and Mines Minister told Reuters on Thursday. Southern Copper has spent years waiting for the construction... 

Chilean miner SQM sees uncertain short-term demand for lithium

1st March 2019 Chilean miner SQM said on Thursday it foresees strong long-term demand for lithium but offered a short-term prognosis clouded by the entry of new projects into the market and slowing growth of demand for the product this year. The company's new chief executive, Ricardo Ramos Rodriguez, said in... 

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