R/€ = 14.64 Change: -0.07
R/$ = 12.51 Change: 0.01
Au 1297.96 $/oz Change: -5.78
Pt 901.00 $/oz Change: -9.86


Chile's Pinera taps businessman Benavides as Codelco chair

25th May 2018 Chilean President Sebastian Pinera named Juan Benavides, a former CEO of Chile retail leader Falabella, as chairperson of the board of directors at Codelco, the world's top copper producer, the government said on Friday. Benavides was currently serving as chairman at Chilean private pension fund... 

Chile's Codelco posts first quarter pre-tax profit of $537m

25th May 2018 Chilean state copper company Codelco reported on Friday first quarter pre-tax profits of $537-million, a slight increase over the previous year, even as ore grades continued to decline at the miner's aging deposits. The world´s top copper miner produced 446 300 t of copper in the first quarter,... 

Vedanta to stick to ops in Indian city despite deadly protests – co executive

25th May 2018 London-listed Vedanta Resources plans to stick to operations in a southern Indian city despite protests demanding the closure of its copper smelter that killed 13 people this week, a company executive told Reuters on Friday. The company's position comes a day after the state of Tamil Nadu, where... 

Sierra Leone president to push review of mining law, contracts

25th May 2018 Sierra Leone's new president will follow through with campaign promises to review mining contracts and consider changes to the law that would ensure the West African nation benefits from its natural resources, his spokesperson told Reuters. Sierra Leone, which is recovering from a devastating... 

Botswana court backs regulator's push for lower mobile call rates

25th May 2018 Botswana's telecoms regulator said on Friday its order that mobile phone companies cut fees they charge rivals to use their network by 41% has been endorsed by a local court. The ruling comes after Mascom, the country's biggest telecoms company, filed a court application last July seeking to have... 

LafargeHolcim to cut 200 jobs as Paris, Zurich offices axed

25th May 2018 LafargeHolcim will close its corporate offices in Paris and Zurich, eliminating 200 jobs as part of a cost-cutting drive, the world's largest cement maker said on Friday. The Franco-Swiss company confirmed the long-mooted closure of its Paris HQ, which was reported by Reuters on Thursday. 

Five killed, including 2 Congolese security forces, in attack on Banro mine

25th May 2018 Five people were killed, including two Congolese security forces, and several company workers wounded in an attack on Banro Corp's east Congo gold mine, a Banro official told Reuters. A Mai Mai militia attacked Banro Corp's east Congo Namoya gold mine on Thursday. 

Russian diamond producer Alrosa says H1 sales to exceed initial expectations

25th May 2018 Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

Electric vehicles seen driving cobalt crunch by mid-2020s

25th May 2018 The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in... 

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