R/€ = 16.47 Change: 0.20
R/$ = 14.03 Change: 0.12
Au 1291.52 $/oz Change: 1.52
Pt 953.50 $/oz Change: 5.50


Alrosa Q3 net profit halves on losses from flooded mine

17th November 2017 Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir. 

Brazil's Samarco mine sees need to cut staff by 600

17th November 2017 Brazilian iron-ore miner Samarco has told unions it needs to cut 600 workers by December, the joint venture between Brazil's Vale and Anglo-Australian miner BHP Billiton said in a statement on Friday. Samarco said it would resume talks with unions Metabase Mariana and Sindimental on Friday... 

New $200 000 Tesla Roadster speeds in front of electric big-rig truck

17th November 2017 Tesla Inc upstaged its own debut of an electric heavy duty truck on Thursday when a red Roadster pulled out of the big rig’s trailer and Chief Executive Elon Musk said the new $200 000 sports car would be the fastest production car ever. The showmanship wowed the crowd although some analysts’... 

Polish coal miner JSW's Q3 profit falls short of estimates

17th November 2017 JSW, the European Union's biggest coking coal producer, reported a net profit of 360-million zlotys ($100.3-million) in the third quarter compared with a net loss of 139-million zlotys a year ago, thanks to higher coal prices and lower costs. The third-quarter bottom line in the state-run JSW... 

Fire hits Freeport Indonesia port facility in Papua

17th November 2017 A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for... 

Siemens to cut 6 900 jobs to tackle flailing turbines business

17th November 2017 Siemens will cut about 6 900 jobs, or close to 2% of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables. Most of the cuts, about 6 100, will be made before 2020 at Siemens's Power and Gas division, which once thrived on supplying large... 

Cobalt hedging not mining the route for VW in EV drive

17th November 2017 Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said. Demand for cobalt is expected to soar as carmakers rush to embrace electric vehicles (EVs) in response to governments... 

Air Senegal signs MoU for two Airbus A330neo jets

16th November 2017 Airbus secured a memorandum of understanding on Thursday from Air Senegal to buy two A330neo jets. The agreement was reached on the final day of the weeklong, biennial Dubai Airshow, Airbus said in statement. 

China's Chalco plans to launch Guinea bauxite mine by early 2018

16th November 2017 A unit of China's biggest state-run aluminium firm, Chinalco, plans to start producing bauxite at its project in the West African nation of Guinea later this year or early in 2018, a company executive said on Thursday. Guinea's mines ministry said in August that Chalco, Chinalco's listed arm,... 

BHP eyes two-year exit from shale; also selling nickel

16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

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