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EU countries clear steel import curb until July 2021

16th January 2019 The European Union (EU) will limit imports of steel into the bloc following US President Donald Trump's imposition of metals tariffs after EU governments backed the plan in a vote on Wednesday. It means that all steel imports will be subject to an effective cap until July 2021 to counter concerns... 

KGHM expects 2019 average copper price at $6 100/t to $6 300/t

16th January 2019 Poland's copper producer KGHM expects an average copper price this year at $6 100/t to $6 300/t, the company's CEO, Marcin Chludzinski, said on Wednesday. "We refer to lower end of copper price range forecast by analysts and we assume an average copper price at $6,100-$6,300 per tonne. I think... 

Tullow Oil hit by payment delay, but sees higher output

16th January 2019 A delay in receiving payment from the sale of a stake in Ugandan oilfields caused Tullow Oil to miss cash flow and debt forecasts on Wednesday, although the firm said it expected to receive the money soon and also forecast higher production. The Africa-focused company said it expected production... 

South Africa aims to finalise long-term energy plan next month – Radebe

16th January 2019 South Africa is aiming to finalise a long-term plan for the country's energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. "We are aiming for February," Radebe told Reuters, when asked when the... 

ANC will not tamper with central bank's independence – Ramaphosa

16th January 2019 South Africa's ruling African National Congress has no intention to tinker with the independence of the Reserve Bank, President Cyril Ramaphosa said on Wednesday, after the party said the central bank should broaden its focus to boost employment and economic growth. "There is no intention... 

Ford, IBM among quartet in Congo cobalt blockchain project

16th January 2019 Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... 

Vale gets approval to buy 3 wind farms in northeast

16th January 2019 Iron-ore miner Vale SA has won approval from Brazil's antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday. In announcing its decision, the Administrative Council for Economic... 

Norsk Hydro says Alunorte production embargo lifted

16th January 2019 Norwegian aluminium-maker Norsk Hydro said on Tuesday that Brazil's northern state of Para has lifted a production embargo on its Alunorte alumina refinery, but noted that full production will not resume until a federal court follows suit. The plant is operating at half capacity after admitting... 

Vedanta tells top English court pollution case should be heard in Zambia

16th January 2019 Lawyers for Vedanta Resources told England's Supreme Court on Tuesday that a case raised against the mining company by nearly 2 000 Zambian villagers should be heard in Zambia not London. India-listed Vedanta, which delisted from London last year but maintains a legal base in Britain, is... 

Anglo American begins quest to unearth next CEO

15th January 2019 Anglo American has promoted a section head it considers to have CEO potential, focusing its attention on internal talent as it begins searching for a successor to the man who steered the mining company through the 2015/16 commodities price slump. CEO Mark Cutifani has won plaudits for his... 

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