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Brick and mortar retail not dying a slow death – US property developer  

By: Marleny Arnoldi     1st November 2018 Private commercial real estate investor and operator Rainier Companies principal Danny Lovell says brick and mortal retail is here to stay, despite rapid growth in sales on e-commerce platforms. “It is easy to get caught up in the ‘retail Armageddon’ story and it clearly has created . . .... 

Encana to acquire shale oil producer Newfield for $5.5bn

By: Bloomberg     1st November 2018 After years of slimming down its oil and gas holdings, Canada’s Encana is reversing course with a $5.5-billion acquisition of a US shale producer in what will be the company’s biggest-ever deal. Encana agreed to purchase Newfield Exploration, which will give it positions in the Stack and Scoop... 

Growth stock tag possible from Far West surface project –­ DRDGold 

By: Martin Creamer     31st October 2018 When it comes to the gold sector, recovering the precious metal from dumps on surface beats pursuing it in deep, dark and dangerous underground mines. The local gold industry has put many feelers out to access gold on surface and one of the most exciting projects under way is Far West Gold... 

GM cautious on switch to platinum even as palladium price soars  

By: Bloomberg     30th October 2018 Palladium’s surge to a record has intensified talk among analysts that carmakers will look to replace it with cheaper platinum for use in pollution-control devices. The auto industry’s answer: Not so fast. Palladium, mainly used to control smog from gasoline engines, is trading near the highest... 

'Blood gold' controversy forces industry transparency push

By: Bloomberg     26th October 2018 It’s been labeled “blood gold,” a jarring phrase that ties one of the world’s most valuable metals with brutal mining practices and illicit profits that legitimate miners and refiners are rushing to end. With miners facing increasing pressure to guarantee the provenance of gold, the group that... 

Palladium nears record after hedge funds piled in amid shortages

By: Bloomberg     22nd October 2018 Palladium climbed near a record as the US plans to pull out of the nuclear weapons pact with Russia, fueling tensions with one of the largest producers at a time when consumers are already scrambling for supplies. Production will trail consumption by 481 000 ounces this year and deficits will... 

'You can run but you can't hide,' Cleveland-Cliffs CEO tells analyst

By: Bloomberg     19th October 2018 Cleveland-Cliffs CEO Lourenco Goncalves isn’t a fan of the Goldman Sachs Group analyst who covers his company. As shares of the largest US iron-ore producer fell as much as 10% Friday, Goncalves closed his analyst call by specifically calling out Goldman’s Matthew Korn. The CEO questioned Korn... 

Gold merger will create industry 'superpower'

By: Rebecca Campbell     19th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto stock exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq stock exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Alcoa jumps on profit surprise, first share buyback since split

By: Bloomberg     18th October 2018 Alcoa reported third-quarter earnings that were double estimates and announced its first share buyback in more than a decade in a sign that the top US aluminum producer is weathering the trade war. Shares jumped 4.8% at 5:05 p.m. in New York as the company said it would buy $200-million of its... 

Hudbay investor is said to seek changes to miner's board

By: Bloomberg     17th October 2018 An investor in Hudbay Minerals wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won’t pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter. Waterton Global Resource... 

Freeport CEO may be ready to sell, but does anyone want to buy?

By: Bloomberg     17th October 2018 Freeport-McMoRan’s annual LME Week party is usually an opportunity for CEO Richard Adkerson to hobnob with the traders and consumers who buy copper from his mining company. At this year’s event, he was surrounded by investment bankers. With its biggest stock overhang – a deal around its... 

Gold comes alive in biggest jump since 2016 after equities roiled

By: Bloomberg     12th October 2018 Gold may have finally snapped out of its inertia. On Thursday, prices posted the biggest gain since June 2016, when the UK voted to exit the European Union, after a slump in global equity markets stoked demand for the metal as a store of value. Bullion received another shot in the arm after data... 

Lithium leaders tout bright EV future after tough trading debut

By: Bloomberg     12th October 2018 The market for lithium will remain tight through 2025 as producers struggle to lift output fast enough to meet demand for the material that’s essential in making batteries for electric vehicles (EVs), according to the sector’s newest public company, Livent. “We think demand is going to grow... 

Blockchain tech coming to commodities, Masters tells LME

By: Bloomberg     10th October 2018 The blockchain is coming to commodity markets, Blythe Masters told guests at the London Metal Exchange annual dinner during LME Week. The virtual ledger technology underlying cryptocurrencies such as Bitcoin promises greater confidentiality, fewer paper exchanges, better provenance and a boost in... 

Rio is hunting deals, discoveries for 'beautiful' diamonds unit

By: Bloomberg     4th October 2018 Two of the world’s top diamonds producers are both shopping for deals, with Rio Tinto following De Beers in hunting for projects to replace aging operations and position for an improving global market outlook. Rio is actively looking for more acquisitions after making a small investment in a... 

Randgold's hook-up with Barrick to leave large void in London market

By: Reuters     2nd October 2018 A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5-billion to create the world's largest gold... 

Half of South Africa's stimulus plan to come from spending shift – Nene

By: Reuters     27th September 2018 South Africa's shifting budget priorities will provide roughly half of the R50-billion ($3.5-billion) in stimulus spending it plans to make by the end of its fiscal year in March, Finance Minister Nhlanhla Nene told Reuters. The rest of the fund would come from internal development finance... 

The Californian rare earths mine caught between Trump and China

By: Bloomberg     27th September 2018 The only operating rare earths mine in the US - and once the world’s biggest -- is caught up in the crossfire of the Trump administration’s trade war with China. Rare earths, an esoteric group of materials used in everything from Tesla Inc. automobiles to high-tech military equipment, were... 

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     26th September 2018 Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

US fund manager invests A$23m in Blackham Resources

By: Creamer Media Reporter      25th September 2018 ASX-listed Blackham Resources has signed executive agreement with New York-based institutional fund manager, The Lind Partners, for an investment of up to A$23-million, the company announced on Tuesday. An initial A$7.5-million would be provided as a secured convertible note with a 24-month term... 

Bank of America sees gold topping $1 300 on fiscal deficit

By: Bloomberg     24th September 2018 Gold is set to surge over the next year as concerns deepen about the widening US. budget deficit and a tariff-driven trade war starts to damage the country’s economy, according to Bank of America Merrill Lynch. Bullion could average $1 350/oz in 2019 as corporate tax reforms worsen the US... 

Ramaphosa to lead SA delegation to UN assembly

By: African News Agency      21st September 2018 President Cyril Ramaphosa will on Saturday travel to New York where he will lead a South African delegation at the 73rd session of the United Nations (UN) General Assembly, his office said on Friday. In his first participation at the assembly as head of state, Ramaphosa will take part in an... 

Gold bulls say bears should be nervous as metal's rout ebbs

By: Bloomberg     21st September 2018 Beleaguered gold bulls are finally getting a rest from this year’s sell-off, and some see encouraging signs for a turnaround in the metal. After falling for five straight months, the longest slump since 2013, gold is showing resilience, holding near $1 200 an ounce since late August and... 

BHP seeks approval for $50m US pact over fatal Brazil dam burst

By: Reuters     20th September 2018 BHP Billiton has asked a US judge to approve a $50-million settlement of claims that it fraudulently inflated its share price by overstating its ability to manage safety risks before a fatal 2015 dam burst at a Brazilian mine. The Anglo-Australian mining company's preliminary settlement of... 

With copper options, China steps up challenge to London, New York rivals

By: Reuters     20th September 2018 The Shanghai Futures Exchange (ShFE) will launch copper options trading on Friday, aiming to take a slice of a $270 billion global market in one of its biggest challenges yet to London and New York rivals. The product, which follows the launch of sugar and soymeal options last year, comes as... 

Growing demand for synthetics not a threat to natural diamonds

By: Nadine James     14th September 2018 Although the global diamond market is currently worth about $87-billion, laboratory-grown diamonds only constitute 2% of that market, or $1.9-billion, says New York-based independent diamond analyst Paul Zimnisky. While the laboratory-grown diamond jewellery market is forecast to grow to about... 

US iron miner helps launch ad campaign to sing tariff praises

By: Bloomberg     14th September 2018 Some US companies have reacted to the divisive issue of metal tariffs by saying as little as possible. Cleveland-Cliffs, on the other hand, has not only publicly backed the levies, now it’s putting up money to sing their praises. The US iron-ore producer says it’s deploying a promotional... 

De Beers sales cycles delivering consistent value

By: Martin Creamer     11th September 2018 The global sightholder sales and auction sales of diamond company De Beers have this year continued to deliver consistent value, with the latest seventh sales cycle coming in at $505-million, a virtual carbon copy of the $507-million realised in the seventh sales cycle of last year. The steady... 

Viceroy says it's shorting Canadian miner Pretium Resources

By: Bloomberg     6th September 2018 Viceroy Research said it’s shorting Pretium Resources, arguing the company has artificially inflated the value of its Canadian gold mine, which risks being taken over by creditors in coming months. The New York-based short seller – which rose to prominence last year with research into financial... 

DRDGold expecting rapid gold output from West Rand tailings project 

By: Martin Creamer     5th September 2018 The high quality of the gold tailing retreatment infrastructure that surface gold mining company DRDGold has acquired on the Far West Rand in partnership with Sibanye-Stillwater is enabling the company to get into production very quickly, DRDGold CEO Niél Pretorius said on Wednesday. Speaking in... 

DRDGold shares leap on higher-grade fillip 

By: Martin Creamer     5th September 2018 A 10% increase in gold production provided an important fillip for surface gold mining company DRDGold, which benefitted from high-grade sand material in the 12 months to June 30. The Johannesburg- and New York-listed company, which saw its share price rise by 6.09% in early morning trade,... 

DRDGold operating profit up

By: Martin Creamer     5th September 2018 Surface gold producer DRDGold on Wednesday reported a sharp rise in operating profit, higher gold production and a spurt of cash flow. The Johannesburg and New York-listed company chalked up 38% more operating profit to R355.2-million, a 10% increase in gold production to 4 679 kg and a free cash... 

Magnis raises A$11m from new investor

By: Esmarie Iannucci     4th September 2018 ASX-listed Magins Resources has secured an A$11.1-million investment from AL Capital Holding, giving the firm a 4.98% shareholding in the graphite miner. The placement was made under Magnis’ existing capacity, and the 30-million shares were issued at a price of 37c each, representing a 4%... 

Ghana NPO forms part of global Cummins Powers Women initiative

31st August 2018 Global power leader Cummins used the occasion of Women’s Day on 8 March to launch its ‘Cummins Powers Women’ initiative. It will partner with a network of best-in-class non-profit organisations (NPOs) in regions with existing, outcomes-based programmes to accelerate gender equality. These include... 

Inside Albemarle's quest to reinvent the lithium market

By: Reuters     30th August 2018 As global demand for lithium hits overdrive, Albemarle Corp is investing millions of dollars to engineer specialised types of the light metal for electric car batteries, part of a strategy to remain the niche market's top producer. The pivot comes as battery makers such as Panasonic Corp, the... 

Phoenix Global Mining seeks New York funds after London disappoints

By: Reuters     29th August 2018 Phoenix Global Mining, which is reopening a US copper mine abandoned during World War II when its workforce left to fight, plans to list in New York in September after a disappointing launch on London's AIM market. The London market is dominated by institutional investors and junior miners... 

Platinum-using fuel cells making more headway

By: Martin Creamer     29th August 2018 Last month’s initial public offering (IPO) on the New York Stock Exchange of Bloom Energy suggests a second, much larger market may be emerging for fuel cells, Greentech Media reported this week in an article recording the deployment of Bloom’s technology at 25 Fortune 100 companies. The... 

Eskom gives up debt to equity conversion plan – Mabuza 

By: African News Agency      28th August 2018 Eskom has shelved plans to ask the Public Investment Corporation (PIC) to convert some of its debt to equity, Eskom chairperson Jabu Mabuza told MPs on Tuesday. "We are not asking anybody to convert debt," he told a joint meeting of the portfolio committees on energy and public enterprises 

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