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ADM has made takeover approach to Bunge – WSJ

By: Reuters     20th January 2018 Agricultural processing and trading company Archer Daniels Midland has proposed a takeover of Bunge, the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore in an industry moving towards consolidation. Bunge and other top grains... 

Condor appoints veteran mining executive to board

By: Henry Lazenby     18th January 2018 Nicaragua-focused project developer Condor Gold has appointed veteran mining executive Andrew Cheatle as a nonexecutive director. A mining industry executive, professional geoscientist and graduate of the Royal School of Mines at Imperial College, in London, Cheatle cut his teeth for ten years... 

Platinum miner Lonmin's lenders relax loan agreements again

By: Reuters     18th January 2018 Platinum miner Lonmin has received a further waiver on its debt agreements from its lenders, preventing a default, the South Africa-focused company said on Thursday. London-listed Lonmin, which is being bought by Sibanye-Stillwater, has been battling liquidity issues caused by combination of low... 

Top China nickel producer joins BHP in prepping for EV boom

By: Bloomberg     18th January 2018 China’s top nickel supplier aims to boost output of a material used in car batteries by 40% this year, joining the ranks of global producers ramping up operations to meet demand from electric vehicles. Jinchuan Group Co expects to raise production of nickel sulphate to 70 000 metric tons from 50... 

Galantas share price rises sharply in London

By: Mariaan Webb     18th January 2018 The share price of Aim- and TSX-V-quoted Galantas Gold surged more than 80% in London on Thursday, after the company reported solid progress at its Omagh gold mine development in Northern Ireland. The dual listed miner’s share price climbed to 9p a share, from the previous day’s closing price of... 

Centerra to earn into Erris Resources’ Sweden project

By: Mariaan Webb     17th January 2018 Canadian mid-tier mining company Centerra Gold has elected to earn into zinc and gold junior Erris Resources’ Brännberg gold project, in northern Sweden, with a $1-million investment. Erris, which was admitted to trading on the Aim at the end of last year, said on Wednesday that Centerra would... 

Anglo Asian's Azerbaijan gold output fell 1.2% in 2017

By: Reuters     17th January 2018 Azerbaijan's top gold producer, Anglo Asian Mining, said on Tuesday its yearly output had fallen 1.2% in 2017 to 71 461 oz, still within its target range of 64 000 to 72,000 ounces. The London-listed firm said copper production rose 2.6% to 1 991 t, and silver output rose 4.7% to 172 853 oz. 

Palladium risks tripping up as prices stampede higher

By: Reuters     17th January 2018 Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. The prospect of sharply higher prices could well prompt substitution of the metal for cheaper... 

As stockpiles fall, which metals are really in tight supply?

By: Reuters     16th January 2018 Stocks of industrial metals in London Metal Exchange (LME) warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. But rising inventories of metals at smaller rival exchanges... 

World Gold Council spots trends that'll be gold’s 2018 friends

By: Martin Creamer     16th January 2018 Synchronised global economic growth, shrinking central bank balance sheets, rising interest rates, insubstantial asset prices and market transparency are the trends that will be gold’s best friends in 2018, the World Gold Council said on Tuesday. These trends, the council said in delivering its... 

De Beers turns to blockchain to track diamond origins and purity

By: Reuters     16th January 2018 Anglo American's diamond unit De Beers aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday. De Beers, the world's biggest diamond producer by the value of... 

Copper falls most in 6 weeks as metal rally starts to give

By: Bloomberg     16th January 2018 After a non-stop rally, metals prices are starting to pull back. Copper, aluminium and nickel slid more than 2% on Tuesday as investors focused on the rebounding dollar and evidence of ample supply in the physical market. Precious metals also retreated, with silver falling as much as 3.2%. 

Only four diamonds are bigger than one just found at famed mine

By: Bloomberg     16th January 2018 A small, embattled diamond miner just hit the jackpot. The 910-carat stone found by Gem Diamonds Ltd. high in the mountains of Lesotho in southern Africa is the fifth-largest in history. Here are the bigger ones: THE CULLINAN DIAMOND 

Investors can't get enough of palladium as supply shortage looms

By: Bloomberg     16th January 2018 Last year’s best-performing commodity hasn’t lost its touch. Spot palladium prices have soared above a record that stood for 17 years. That followed its best year since 2010 on growing demand from carmakers for the metal used to reduce vehicle pollution. While palladium’s supported by a lack of... 

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore shrinks job of billionaire copper head amid Congo probe

By: Bloomberg     15th January 2018 Glencore reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management. Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of CEO Ivan... 

Greatland shares in free fall on Newmont's exit from Australia project

By: Mariaan Webb     15th January 2018 Shares in Aim-listed junior Greatland Gold fell sharply on Monday, as the precious and base metals firm announced that Newmont Mining had pulled out of the Ernest Giles project, in Western Australia. Greatland said in a market announcement that Newmont would not be proceeding with the Ernest... 

Public engagements on SA's national minimum wage set to resume

By: African News Agency      15th January 2018 The Department of Labour will this week resume its national series on worker engagement about the implementation of the national minimum wage and amendments to labour legislation. The national minimum wage of R3,500 a month, or R20 per hour for major sectors, is scheduled for implementation from... 

Metals power higher as sickly dollar spurs copper-to-gold rally

By: Bloomberg     15th January 2018 Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar and continued robust outlook for demand. Gold and palladium also climbed. Copper surged as much as 2.1%, the most since November 13, to $7 259 a metric ton... 

Mining profits are super-charged and BlackRock wants to get paid

By: Bloomberg     12th January 2018 The world’s mining sector is firing on all cylinders again, and one of it’s biggest investors can’t wait to get paid. After five years of under-performance, a combination of synchronous global growth and under-investment in new supply has driven up commodity prices, increasing cash flow and... 

World's top commodity engine roars to record with Xi at helm

By: Bloomberg     12th January 2018 China continues to gobble up the world’s commodities, setting new records for consumption of everything from crude oil to soybeans. In a year of flux marked by industrial capacity cuts, environmental curbs and financial deleveraging, demand for raw materials has continued to grow in the world’s... 

South Africa's economy may grow 2% this year – Gigaba

By: Reuters     11th January 2018 South Africa's economy may grow 2% or more this year if the government takes the right policy decisions, Finance Minister Malusi Gigaba said on Thursday. "The capacity of the South African economy's growth levels far exceeds the targets that we have set ourselves," Gigaba told a business... 

Regency eyes larger role in EV market

By: Natasha Odendaal     11th January 2018 London-listed Regency Mines plans to reposition itself to fully leverage the mineral resources to be used in the rising electric vehicle (EV) batteries and related energy technologies. The company on Thursday said in an update to shareholders that it aimed to rebrand its nickel/cobalt and related... 

Gigaba: Youth should not only chase tenders

By: News24Wire      11th January 2018 Finance Minister Malusi Gigaba has urged South African youth to make the most of the state's Black Industrialists Programme, and come up with innovative business ideas instead of chasing tenders and shareholdings at established companies. Gigaba was speaking to the SABC on the sidelines of the... 

Bank of China sees commodities in full bloom amid 2018 rotation

By: Bloomberg     11th January 2018 The stage may be set for commodities to extend their stellar gains, according to Bank of China International analysts. By the fourth quarter copper will average $7 500/t and gold $1 400/oz, they wrote in a note this week, as financial drivers potentially outweigh fundamentals in 2018. In other... 

Rio is said to drop chase for $5bn lithium miner stake

By: Bloomberg     11th January 2018 Rio Tinto Group has dropped out of the bidding for a stake in Soc. Quimica & Minera de Chile SA, one of the world’s top lithium producers, as it pursues other ways to capitalise on the electric-car boom, people familiar with the matter said. Rio decided not to proceed with an offer for Nutrien’s... 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Rio Tinto receives offer for aluminium smelter

By: Martin Creamer     10th January 2018 Diversified mining company Rio Tinto has received a binding offer from Liberty House to acquire Rio Tinto’s Aluminium Dunkerque smelter in northern France for $500-million. In accordance with French law, the London-listed company will launch a consultation process with employees, relevant... 

Liberty House makes binding offer for Rio Tinto's French aluminium smelter

By: Reuters     10th January 2018 Liberty House, the industrial arm of British steel tycoon Sanjeev Gupta's GFG Alliance, said on Wednesday it had made a binding offer for miner Rio Tinto's, aluminium smelter in Dunkerque, France, the largest in Europe. The group did not disclose an offer price but said the move was part of a... 

Bacanora expands Zinnwald potential with licence for previously mined deposit

By: Mariaan Webb     10th January 2018 Lithium developer Bacanora has been granted an exploration licence of the previously mined Falkenhaim lithium deposit, in Saxony, Germany. The licence is about 5 km from Bacanora’s 50%-owned Zinnwald lithium project and has the potential to increase the life of a mine at Zinnwald, the London-... 

BlackRock-backed gold miner prepares to join rush of Russia IPOs

By: Bloomberg     10th January 2018 GV Gold, a Russian miner backed by BlackRock, plans an initial public offering (IPO) in Moscow this year after first doubling its output in a possible acquisition, according to the miner’s chief. “Our shareholders want an IPO to get a market valuation of the business and have their holdings... 

Pelletiser maintenance impacts on Ferrexpo FY output

By: Creamer Media Reporter      9th January 2018 Swiss headquartered iron-ore company Ferrexpo said on Tuesday that its pellet production had fallen to 10.4-million tonnes in 2017, owing to planned pelletiser maintenance. The London-listed company, which is the largest exporter of pellets from the former Soviet Union, produced 11.2-million... 

Copper hits two-week low, zinc at highest in more than a decade

By: Reuters     9th January 2018 Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for... 

Coal dwarfs battery metals in mining deals despite war on pollution

By: Reuters     8th January 2018 Coal and iron-ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future. While the biggest deal was in Brazil, China was a top player despite planning to reduce domestic coal... 

Commodities forge record-setting rally as BP to miners surge

By: Reuters     4th January 2018 Commodities are forging a record-setting run of gains that straddles the end of 2017 and the start of the new year as crude oil notches multiyear highs and investors bet that booming global manufacturing output will help to sustain rising demand for raw materials. The Bloomberg Commodity Index,... 

South Africa's rand resumes rally as bears buy short

By: Reuters     3rd January 2018 South Africa's rand gained more than one% on Wednesday, reversing losses from earlier in the session to trade at a three-day high as investors betting on a dollar recovery bought the local currency cheap. At 15:00 GMT the rand was 0.86% firmer at 12.36 per dollar. 

Copper climbs to near four-year high as China halts top producer

By: Reuters     28th December 2017 Copper in London surged to the highest in almost four years after China ordered its top producer to halt output to combat winter pollution, fuelling a rally this year driven by optimism about demand and supply disruptions at mines. Jiangxi Copper was told to cut production for at least a week... 

Renova sells its stake in Russian gold miner Petropavlovsk

By: Reuters     27th December 2017 Russian billionaire Viktor Vekselberg's Renova Group has sold its stake in Russian gold producer Petropavlovsk, Renova spokesperson Andrey Shtorkh told Reuters on Wednesday. "The deal is closed, we are not disclosing the details," Shtorkh said. He declined to disclose the price of the deal and... 

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