R/€ = 13.48 Change: 0.11
R/$ = 12.50 Change: 0.07
Au 1245.31 $/oz Change: -3.99
Pt 959.50 $/oz Change: -0.50


BHP's Escondida mine says negotiations dissolved; will return to production

23rd March 2017 The negotiation process between BHP Billiton and striking workers at its Escondida mine in Chile has ended unsuccessfully, Escondida mine president Marcelo Castillo said on Thursday, and the company will try to restart operations. The company will also evaluate an option of the Chilean labor code... 

Diamond group De Beers buys out retail partner LVMH

23rd March 2017 Anglo American's diamond specialist De Beers has bought the 50% stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH's strategy, while Anglo American,... 

Minerals railway in Peru to take 2-3 wks to resume – govt

23rd March 2017 A railway used by copper, zinc and silver mines to transport their concentrates from Peru's central Andes to port will not likely be operative for at least two to three weeks following "important" damages from floods and mudslides, the transportation minister said on Wednesday. Martin Vizcarra... 

Colombia to produce 95Mt of coal in 2017 – vice-minister

23rd March 2017 Colombia could produce at least 95-million tonnes of coal in 2017, below an initial target of 102-million tonnes, the mining vice-minister said on Wednesday. The Andean country is the world's fifth-largest producer of the fuel and recorded an output of 90.9 -million tonnes last year, the highest... 

No talks planned to end 5-1/2-week Quebec zinc plant strike – union

22nd March 2017 No meetings are planned between management and striking workers at Noranda Income Fund's zinc refinery in Quebec, the second biggest in North America, a union official said on Wednesday, as the work stoppage dragged through a sixth week. The two sides last met, along with a mediator, on March 3... 

Russia's Alrosa expects 6% fall in first-quarter diamond sales

22nd March 2017 Russian diamond miner Alrosa expects its first-quarter sales to be down 6% at $1.25-billion compared with a year ago, the state-controlled company said in a presentation for its investor day on Wednesday. Alrosa, the world's largest producer of rough diamonds, plans to increase diamond output to... 

China's Sinopec buys first major refinery in Africa from Chevron

22nd March 2017 China's Sinopec will pay almost $1-billion for a 75% stake in Chevron Corp's South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced on Wednesday. China Petroleum and Chemical Corp, or Sinopec, Asia's largest oil refiner, said the... 

New British factory turns London's black cabs green

22nd March 2017 The Chinese-owned maker of London's black cabs opened a new factory in central England on Wednesday to produce electric taxis which it also hopes to sell overseas for the first time to cities keen on the famous brand and concerned about pollution. The London Taxi Company plant near the city of... 

US firm seeks $561m from Tanzania in power supply dispute

22nd March 2017 Symbion Power is seeking $561-million from Tanzania's state power supplier Tanesco via international mediation, accusing it of breach of contract, the US firm said on Tuesday. Symbion owns a 120 MW thermal power plant in Tanzania's commercial capital Dar es Salaam and is one the handful of... 

Current account deficit narrows to near 6-year low; inflation slows

22nd March 2017 South Africa's current account deficit narrowed more than expected in the fourth quarter of last year to its lowest in nearly six years, helped by a surge in mining exports after a rise in global commodity prices, the central bank said on Wednesday. The rand extended gains against the dollar in... 

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