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Reuters

Port Hedland iron ore exports to China up 11% in August -Pilbara Ports

8th September 2017 Iron-ore shipments to China from Australia's Port Hedland terminal rose 11% to 35.7-million tonnes from 32.03-million tonnes in July, port data released on Friday showed. Overall August iron-ore shipments from the world's biggest export terminal for the steelmaking raw material increased to... 

Cuba shuts down nickel industry as Hurricane Irma approaches

8th September 2017 Cuba has begun to shut down its nickel industry in preparation for Hurricane Irma, state-run television said on Thursday. One of two processing plants, the state-owned Ernesto Che Guevara, was closed, and the second, a joint venture with Canadian miner Sherritt International Corporation, was... 

South Africa's radical economic transformation policy could turn-off investors – Moody's

7th September 2017 Ratings firm Moody's on Thursday warned that proposed plans by South Africa's government to implement "radical economic transformation" could turn away investors and rising poverty may curb Treasury's efforts to rein in fiscal deficits. Moody's said in a research report that plans for land... 

India needs to find allies to tap cheap funds for clean coal – trade body

7th September 2017 India needs to partner with other countries to tap cheaper funds for cleaner coal technologies as the South Asian nation is expected to use the fuel to produce over half of its power in the next two decades, the World Coal Association chief said on Thursday. India, the world's second-largest coal... 

South African rand likely to weaken on expectations for rating cuts

7th September 2017 South Africa's rand is forecast to be 7% weaker in 12 months on expectations credit agencies will cut the local- currency debt rating to "junk" status, ejecting it from crucial bond indexes, a Reuters poll found. The rand touched its strongest level in two-and-a-half months at 12.73 per dollar on... 

Manufacturing output down 1.4% y/y in July

7th September 2017 South Africa's manufacturing output fell 1.4% year-on-year in July after contracting by a revised 2.2% in June, Statistics South Africa said on Thursday. Economists polled by Reuters had forecast manufacturing volumes would contract by 0.35% year-on-year in July. 

Tanzania President orders officials to resign over diamond probe

7th September 2017 Tanzania's President John Magufuli said on Thursday he had ordered a review of a contract belonging to Petra Diamonds in Tanzania and asked senior public officials to resign over the outcome of a probe into the sector. "I have endorsed all the recommendations of the parliamentary probe committees... 

Thyssenkrupp sees boost for steel from shift to electric cars

7th September 2017 Thyssenkrupp's European steel business, expected to be merged soon with its counterpart at Tata Steel, will get a boost from the auto industry's shift towards electric vehicles, a senior executive at the group said. Investors and analysts are closely watching any hints from Thyssenkrupp over the... 

China to loan Guinea $20bn to secure aluminium ore

7th September 2017 China agreed on Wednesday to loan Guinea $20-billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminium which the West African country has in abundance, the mines minister said. The projects guaranteed by the loan included China Power Investment Corp's (CPI) planned... 

Miner Teck raises Q3 coal sales volume forecast

7th September 2017 Canadian miner Teck Resources on Wednesday raised its forecast for sales volumes of its steelmaking coal in the third quarter, and also said it expects to realise an average price of around $158/t to $163/t. Vancouver-based Teck said it now expects to sell between 7.2-million and 7.5-million... 

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