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Bloomberg

Barrick Gold eyes assets, exploration as it plots new phase

17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold aims to boost dividend in future – incoming CFO

16th November 2018 Barrick Gold intends to grow future dividends via stronger operating cash flows, non-core asset sales and lower overhead and interest costs, the incoming CFO said in an investor presentation Friday. "The company has made it very clear that paying dividends will be a key deliverable and... 

Gold miner smuggles in workers by night to bypass strikers

16th November 2018 Gold Fields is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike since Nov. 2. Small teams of essential workers are using secret entrances to enter the mine and sometimes have to... 

Palladium soars to record on tight supply, bets on China demand

16th November 2018 Palladium surged to a record on bets that the Chinese auto industry will buoy global demand amid tight supplies of the metal used in vehicle pollution-control devices. Spot palladium rose as much as 4.6 percent to an all-time high of $1 180.26 an ounce, capping a third straight gain. The... 

DRC lifts export ban on Glencore's copper and cobalt unit

16th November 2018 A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone.... 

Ghana to raise $750m through London IPO of minerals fund

15th November 2018 Ghana will seek to raise as much as $750-million through a sale of shares in a fund that will hold the West African nation’s stakes in mining companies and receive mineral royalties, said Finance Minister Ken Ofori-Atta. In September, lawmakers passed legislation for the creation of the fund that... 

GE pulls out of Nigeria rail concession, hands over to Transnet

15th November 2018 General Electric (GE) said it’s giving up a Nigerian railway concession and handing it over to Transnet in line with its strategy to exit the transportation business. Agreements GE reached with the Nigerian government “are now being negotiated by Transnet and its consortium partners” including... 

Zimbabwe raises gold miners' forex allowances after output halt

15th November 2018 Zimbabwe’s central bank increased the amount of foreign exchange that gold companies can retain after a shortage forced some mines to close. Metal producers in Zimbabwe have been struggling to meet production costs because of the shortage of hard currency. That forced RioZim to temporarily... 

Vale holds talks to expand world's biggest openpit iron mine

15th November 2018 Vale is holding talks with Brazilian officials about expanding the world’s largest open pit iron-ore mine to meet growing Chinese demand for the high-grade ore. The Rio de Janeiro-based company recently sat down with regulators to discuss expanding its $14-billion mine located in the Amazon... 

Congo State miner wants meeting over Katanga cobalt export halt

14th November 2018 The Democratic Republic of Congo’s state-owned miner sought an urgent meeting to discuss a decision by Glencore unit Katanga Mining last week to halt cobalt exports. Katanga, controlled by Glencore, announced November 6 it suspended sales from its Kamoto mine in southeast Congo after detecting... 

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