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Russia's Prokhorov sells 6% stake in Rusal to Vekselberg

By: Reuters     20th February 2018 Russian businessman Mikhail Prokhorov has agreed to sell a 6% stake in Russian aluminium giant Rusal to a consortium of investors led by billionaire Viktor Vekselberg and his partners, the consortium said on Monday. The sale will close a chapter at the world's second largest aluminium producer.... 

Russian magnate Deripaska to quit roles at his two biggest firms

By: Reuters     19th February 2018 Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires... 

Nornickel tycoons said to avoid shoot-out sale in share dispute

By: Bloomberg     19th February 2018 Billionaires Oleg Deripaska and Vladimir Potanin’s working arrangement at MMC Norilsk Nickel is starting to fray, but the tycoons aren’t planning to trigger a so-called shoot out - a forced auction where the losing bidder must sell his stake to the winner, three people familiar with situation... 

Russia's mining billionaires are back to fighting over Nornickel

By: Bloomberg     16th February 2018 The billionaire owners of Russia’s biggest mining company have revived a years-old feud. Oleg Deripaska, one of the top shareholders of MMC Norilsk Nickel, wants to stop Roman Abramovich from selling a stake in the company that may worth $1.5-billion, according to three people familiar with... 

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

BMW close to ten-year supply deal for battery minerals – FAZ

By: Reuters     12th February 2018 BMW is close to signing a ten-year supply contract for lithium and cobalt, the company's procurement chief told Germany's Frankfurter Allgemeine Zeitung, amid an industry-wide scramble for raw materials needed for electric car batteries. "The aim is to secure the supply all the way down to the... 

New Nornickel JV targets up to 100 t/y of PGMs

By: Mariaan Webb     7th February 2018 Palladium and nickel miner Norilsk Nickel (Nornickel) has entered into a strategic partnership agreement with Russian Platinum, in terms of which the companies will establish a joint venture (JV) to develop disseminated ore deposits in the Norilsk industrial district. The 50:50 JV aims to be one... 

Putin to discuss environment with Russian metals tycoons

By: Reuters     7th February 2018 Russian President Vladimir Putin will meet metals tycoons whose businesses are located in the region of Krasnoyarsk, which the President is visiting today, to discuss local residents' ecological concerns, the Kremlin said on Wednesday. Putin will meet with billionaire Vladimir Potanin, co-owner... 

Nornickel says palladium output may fall in 2018

By: Reuters     31st January 2018 Norilsk Nickel, the world's largest palladium producer, said on Wednesday its production of palladium could decline in 2018, while the output of nickel from Russian raw material would remain flat. Nornickel, part-owned by Russian tycoon Vladimir Potanin and aluminium giant Rusal, previously said... 

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

By: Nadine James     26th January 2018 With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first-hand, says Mining Indaba MD Alex Grose. This renewed investor interest... 

Regulatory red tape to stifle Russia’s palladium growth

By: Megan van Wyngaardt     29th November 2017 Despite rising palladium prices, the Russian government will continue to exert tight control over the quantities of palladium supply exiting the country, research firm BMI said on Wednesday. The firm warned that this would not only restrict the palladium’s growth prospects, but with the country's... 

Norilsk Nickel to increase 2017 palladium purchases

By: Reuters     20th November 2017 Russia's Norilsk Nickel, the world's top palladium producer, said it plans to boost purchases of palladium for its fund from Russian central bank reserves to help ease shortages in the market. Head of Global Sales and Marketing Markus Meurer told Reuters ahead of a presentation to investors that... 

Highland Gold appoints COO

By: Creamer Media Reporter      9th November 2017 Russian gold miner Highland Gold has appointed Anton Kim as first deputy CEO of its Moscow-based management company, Russdragmet. He will serve as Highland Gold’s COO and will be responsible for overseeing day-to-day operations at the company's production and development assets. 

Norilsk Nickel lifts Q3 nickel output by 10% q/q

By: Mariaan Webb     30th October 2017 The world’s largest producer of refined nickel and palladium, Norilsk Nickel, on Monday reported a 10% quarter-on-quarter increase in its nickel output, but said third-quarter copper and platinum group metals production had declined. Nickel production increased to 54 175 t in the September... 

BMI says outlook for Russian nickel sector bleak

By: Creamer Media Reporter      3rd August 2017 Fitch group company BMI has lowered its forecast for Russian nickel production in 2017, and says the outlook for the country’s domestic production over the next five years looks bleak. BMI stated this week that Russia’s nickel production would remain on a negative trend this year, following a... 

Norilsk Nickel ups Q2 palladium output, nickel volumes fall

By: Mariaan Webb     31st July 2017 Russian miner Norilsk Nickel has substantially increased its second-quarter platinum group metals (PMGs) production, while nickel volumes decreased in the three months under review. Group palladium production increased by 41% quarter-on-quarter to 781 000 oz and platinum production rose by 46%... 

Muted growth forecast for Europe’s mining industry

By: Creamer Media Reporter      13th July 2017 Mining and metals companies operating in Europe are set to remain in recovery mode, as a sluggish recovery in mineral prices keep investment activity subdued, while environmental regulations will pose headwinds for coal-producing countries. BMI Research said on Thursday that mineral prices were... 

Bluejay Mining to further explore Disko project

By: Megan van Wyngaardt     20th June 2017 Nordic-focused metals miner Bluejay Mining has finalised a field programme to refine the geological model of the Disko Nuussuaq project, in Greenland. Disko is a large-scale magmatic massive sulphide (MMS) target, which demonstrates many characteristics analogous to a flood basalt MMS... 

Nornickel completes upgrade of Arctic-based concentrator

By: Mariaan Webb     7th June 2017 Nickel and palladium miner Norilsk Nickel (Nornickel) has completed the Talnakh concentrator modernisation project, in Russia’s Arctic region, the company reported on Wednesday. The upgrade, which cost 47-billion roubles, expanded the concentrator’s capacity by 34% from 7.6-million tonnes a year... 

Norilsk Nickel lawsuit against Botswana undeterred by potential deal

By: Reuters     10th May 2017 Norilsk Nickel Africa will press ahead with a lawsuit against Botswana over a failed $271-million deal to sell a 50% stake in its Nkomati nickel mine even though the government is still trying to raise the funds, its CEO has told Reuters. "From our point of view the government failed to meet... 

Norilsk seeks damages from Botswana govt over stalled sale of Nkomati, Tati mines

By: Anine Kilian     28th April 2017 Norilsk Nickel will start legal proceedings against the Botswana government in relation to a stalled 2014 deal that would have resulted in Botswana copper and nickel producer BCL Mine acquiring Norilsk’s African assets. In October 2014, BCL agreed to buy Norilsk’s 50% interest in the Nkomati... 

Orinoco gets new COO

By: Esmarie Swanepoel     27th March 2017 Brazil-focused gold miner Orinoco Gold has appointed Craig Dawson as COO, effective immediately. He has more than 30 years experience in the Australian and international mining industry and has held senior operational positions at a number of midtier and global mining companies, including GM at... 

Barloworld enters new financial year on strong footing

By: Megan van Wyngaardt     8th February 2017 JSE-listed Barloworld has experienced a strong start to its 2017 financial year, with its Southern African equipment division’s order book already standing at R1.7-billion at end-January, up from the previous quarter’s R1.3-billion. This, the company noted, reflected increased activity in the... 

Asanko strengthens board with South African alumni

By: Henry Lazenby     18th November 2015 Canadian project developer Asanko Gold has appointed William (Bill) Keith Smart as nonexecutive director, strengthening the operational and technical expertise of the board as the company prepares to transition to a gold producer. Holding a BCom (Hons) degree from Rhodes University, in South... 

Sierra Rutile appoints new COO

By: Megan van Wyngaardt     11th May 2015 Aim-listed mineral sands producer Sierra Rutile has appointed Wayne Venter as COO, effective August 1. Venter would be responsible for all aspects of operations, including overseeing current operations, strategic business planning and the execution of growth projects.  With over 25 years of... 

Norilsk appoints former De Beers CEO as chairperson

By: Creamer Media Reporter      11th March 2013 Shareholders of Russian nickel and palladium producer Norilsk Nickel on Monday approved the appointment of former De Beers CEO Gareth Penny as chairperson. Norilsk Nickel shareholders on Monday voted in favour of the early termination of powers of the company’s board of directors and the election... 

Mandalay Resources poised for significant production upside

By: Henry Lazenby     27th August 2012 Through handpicking its projects, with the focus firmly on acquiring underperforming assets, TSX-listed Mandalay Resources had transformed itself from holding a number of poor-performing assets three years ago, to having become a formidable mining force on the Toronto bourse. During the time... 

Honeymoon Well to produce by 2017 - Norilsk

By: Esmarie Swanepoel     28th June 2012 Global nickel miner Norilsk Nickel could start production from its Honeymoon Well operation, in Western Australia, by as early as 2016/17, after the company’s board approved capital expenditure on the project between 2012 and 2017. The Honeymoon Well deposits hosts some 1.26-million tons of... 

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