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Nickel price to benefit from short supply, strong steel demand through 2019

By: Reuters     12th September 2018 Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019. Nickel, which recently hit its lowest since December, could climb as high as $16 000... 

Gold slips amid US-China trade war concerns

By: Reuters     12th September 2018 Gold fell on Wednesday, but remained stuck in a narrow trading range as investors worry about a simmering trade war between the United States and China. Spot gold was down 0.3% to $1 193.61 an ounce at 1200 GMT, after hitting its lowest since Aug. 24 at $1 187.21 on Tuesday. US gold futures eased... 

Polyus on track to boost gold output in 2019

By: Reuters     12th September 2018 Polyus, Russia's largest gold producer, is on track to boost production to 2.8-million troy ounces and to reduce its capital expenditure in 2019, its CEO Pavel Grachev told Reuters. Its 2018 production is on track to reach the upper end of its forecast range of 2.375-million to 2.425-million... 

Rusal's August aluminium exports up 7% from July - Ifax

By: Reuters     6th September 2018 Russian aluminium producer Rusal, under US sanctions since April, increased its aluminium exports by 7% in August compared to the previous month, Interfax news agency said. Rusal, the world's second-largest aluminium producer, saw its exports and supply chain crippled after Washington put the... 

India-US dialogue to set outline for Indian crude oil imports from Iran

By: Ajoy K Das     5th September 2018 The Indian government will not totally halt crude oil imports from Iran, but will likely show flexibility on volumes of inward shipment as a nuanced stance at the US-India bilateral engagements starting Wednesday. The Indian government reckons that this willingness to reduce crude volume imports... 

At China-Africa summit, officials dismiss debt criticism

By: News24Wire      5th September 2018 Chinese and African officials have rejected criticism of Beijing's development projects on the continent as they ended a summit that included a $60-billion pledge for more aid to the continent. President Xi Jinping hosted leaders from across Africa  amid questions whether his country's Belt and... 

Iran says it plans to boost ballistic, cruise missile capacity

By: Reuters     3rd September 2018 Iran plans to boost its ballistic and cruise missile capacity and acquire modern fighter planes and submarines, the Iranian state news agency IRNA quoted a senior Defence Ministry official as saying on Saturday. News of the military development plans came a day after Iran dismissed a French call... 

China's Xi offers another $60bn to Africa, but says no to 'vanity' projects

By: Reuters     3rd September 2018 Chinese President Xi Jinping offered another $60-billion in financing for Africa on Monday and said Chinese companies will be encouraged to invest no less than $10-billion over the next three years, but he also warned against "vanity projects". Speaking at the opening of a major summit with... 

China's Xi says no strings attached to funds for Africa

By: Reuters     3rd September 2018 Chinese funds are not for "vanity projects" in Africa but are to build infrastructure that can remove development bottlenecks, Chinese President Xi Jinping said on Monday, telling Chinese firms they also had to respect local people and the environment. Xi said at a business forum before the start... 

US–China trade tensions to shackle copper prices

By: Reuters     29th August 2018 Copper prices have recovered from a recent rout, but the possibility of the trade dispute between the Washington and Beijing escalating and its potential to crimp demand in China, the world's top consumer, is expected to cap gains. Benchmark copper on the London Metal Exchange at $6 100 has... 

South African farmers play chicken with Trump tariffs

By: Reuters     29th August 2018 Herman Pretorius is just the kind of white South African farmer US President Donald Trump expressed concern for when he barged into the country's delicate land reform debate by ordering an investigation into the "large-scale killing of farmers". But for the greying, bespectacled 58-year-old,... 

Mexico's next leader says NAFTA deal preserves energy 'sovereignty'

By: Reuters     28th August 2018 Mexican president-elect Andres Manuel Lopez Obrador welcomed a deal between Mexico and the United States to overhaul the North American Free Trade Agreement (NAFTA) that he said preserved Mexican "sovereignty" in the energy sector. The U.S.-Mexico deal was announced by US President Donald Trump... 

Trump proposes unwinding Obama's coal-plant pollution curbs

By: Bloomberg     21st August 2018 President Donald Trump’s administration on Tuesday unveiled its plan to dramatically weaken carbon dioxide limits on coal-fired power plants by shifting most of the regulatory burden to states in a further assault on the Obama climate legacy. The Environmental Protection Agency’s "Affordable... 

Poultry group seeks to suspend US import quota

By: Reuters     21st August 2018 The South African Poultry Association (SAPA) has filed a legal action to force the government to suspend a quota that excluded imports of US poultry from South Africa's anti-dumping tariff, a senior official with the association said on Tuesday. The decision by SAPA was a response to the Trump... 

Kizeltepe benefiting from weaker lira, higher grades

By: Mariaan Webb     16th August 2018 The Kiziltepe mine, which Aim-listed Ariana Resources owns in a joint venture (JV) with Turkey's Proccea Construction, is benefitting from the recent movements in the value of the lira, with operational costs incurred in the local currency decreasing. Ariana MD Kerim Sener said on Thursday that... 

Russian miners explore payment schemes eschewing dollar

By: Reuters     15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

Threat of contagion in emerging markets deepens commodity risk

By: Bloomberg     13th August 2018 When Thailand devalued its currency two decades ago, few in global commodity markets took note. Within a year, the crisis morphed into an emerging-market rout that eviscerated the price of everything from crude oil to copper. Fast forward to today and Turkey is presenting a similar challenge. The... 

Russia's shield against sanctions draws praise from Moody's

By: Bloomberg     7th August 2018 Russia is ready to absorb the blow from any new sanctions the US throws its way, according to Moody’s Investors Service. Measures to cut down holdings of Treasuries and reduce exposure to the dollar have made the economy less vulnerable to the threat of deeper penalties, Moody’s analyst Kristin... 

Russia's Rusal shuts down Nadvoitsky plant due to US sanctions

By: Reuters     7th August 2018 ussia's Rusal, the world's largest aluminium producer outside China, has started shutting down production at one of its smaller plants as a result of US sanctions on the company, Rusal representatives said on Monday. Operations at the Nadvoitsky aluminium smelter in Russia's Karelia region... 

Alcoa asks US government for tariff exemption on Canadian aluminum

By: Reuters     7th August 2018 Alcoa Corp on Monday asked the US.Commerce Department to exempt from tariffs its purchases of 40 000 metric tons of Canadian aluminum used to make beverage cans, adding to thousands of requests for such relief. According to documents posted to its website, Alcoa said no US aluminum producer can... 

Canada to soften carbon tax as firms fret about US competition

By: Reuters     2nd August 2018 Canada will soften the impact of a planned carbon tax on major emitters of greenhouse gases after businesses complained it would make them less competitive with the United States, officials said on Wednesday. The move underlines the challenges facing Canada as it tries to deal with Washington... 

Gold pinned near one-year lows on dollar strength

By: Reuters     1st August 2018 Gold was stable near one-year lows on Wednesday on a stronger dollar, as the market waited for signals on the direction of US monetary policy from a Federal Reserve meeting later in the day. Spot gold edged down 0.1% to $1 223.08 per ounce by 1045 GMT, close to a one-year low of $1 211.08 reached... 

Rare blue diamonds may be Earth's deepest secret

By: Reuters     1st August 2018 The Hope Diamond, a rare blue diamond that is one of the world's most famous jewels, has had a complicated history, passing through the hands of monarchs and bankers and heiresses and thieves before landing for all to see at a Washington museum. The geological history of blue diamonds is even... 

G20 agriculture ministers slam protectionism, pledge WTO reforms

By: Reuters     30th July 2018 Agriculture ministers from the G20 countries criticized protectionism in a joint statement on Saturday, and vowed to reform World Trade Organization (WTO) rules, but did not detail what steps they would take to improve the food trade system. In the statement, they said they were "concerned about... 

Boundary dam powerhouse refurbishment, US

By: Sheila Barradas     27th July 2018 Seattle City Light is rebuilding three generators at Boundary dam to improve the nameplate capacity of the generators. 

WTO chief sees trade war ending in political talks

By: Reuters     26th July 2018 The nascent global trade war will have to be ended by a political agreement between world leaders, because continuing down the current path will only damage the global economy, the head of the World Trade Organization said on Wednesday. WTO Director General Roberto Azevedo said that world leaders... 

South Africa 'collateral damage' in US-led global trading war – Davies

By: African News Agency      25th July 2018 South Africa has become "collateral damage" in the trading war involving mainly the United States, China, Canada and the European Union, with tariffs imports on its steel exports, Trade and Industry Minister Dr Rob Davies said on Wednesday. Global tensions have flared up as other countries hit... 

Gold edges up as US dollar trades below 1-year highs

By: Reuters     20th July 2018 Gold prices edged up in volatile trade on Friday, after hitting a one-year low in the previous session, as the US dollar eased from its highest in a year. Spot gold was trading at $1 224.55 an ounce at 0811 GMT. In the previous session, it fell to its weakest since July last year at $1 211.08 an... 

Uranium tariffs threaten nuclear plants Trump is trying to save

By: Bloomberg     20th July 2018 The Trump administration’s decision to consider tariffs on uranium imports may raise the cost of fuel for nuclear reactors and undermine a separate initiative to shore up struggling electricity generators. The Commerce Department said Wednesday it will probe whether uranium imports “threaten to... 

EU mulls coal, pharma, chemicals tariffs if US hits cars – Wiwo

By: Reuters     19th July 2018 The European Union (EU) will consider introducing tariffs on coal, pharmaceuticals and chemical products from the United States if President Donald Trump imposes restrictions on European cars, Germany's Wirtschaftswoche magazine reported on Thursday. "Depending on progress made during the visit... 

US plans uranium import probe that may lead to tariffs

By: Bloomberg     18th July 2018 The Trump administration plans to open an investigation into whether uranium imports are harming national security, a move that could lead to tariffs on foreign shipments of the metal, said three people familiar with the matter. US uranium producers Energy Fuels and Ur-Energy filed a petition in... 

Google hit with record $5bn EU antitrust fine

By: Reuters     18th July 2018 EU regulators hit Google with a record €4.34-billion ($5-billion) antitrust fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record of €2.4-billion, which the US tech company was ordered to pay last year over its... 

China overloading poor nations with debt, top US official says

By: Reuters     17th July 2018 China is saddling poor nations with unsustainable debt through large-scale infrastructure projects that are not economically viable, the head of the US Overseas Private Investment Corporation (OPIC) said on Monday. The criticism of Beijing - targeted by President Donald Trump in a trade war that... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Mozambique moves closer to becoming LNG producer

By: Bloomberg     13th July 2018 Mozambique moved a few steps closer to becoming a player on the fast-growing global market for liquefied natural gas, eight years after the first major deep-water discovery there. The development of hydrocarbon resources is crucial for the southern African country, which has struggled this year... 

Macron says Nato debates were 'frank and respectful'

By: Reuters     12th July 2018 French President Emmanuel Macron said on Thursday that talks at a Nato summit were measured and respectful, despite critical tweets from US President Donald Trump in the run up to and during the gathering. Ahead of the summit, Trump criticised Germany on Twitter for what he called its dependence... 

Buzzkill for US coal may come from weak yuan, not tariffs

By: Bloomberg     11th July 2018 Washington’s trade war with Beijing doesn’t pose much of a direct threat to US coal miners, since just a tiny percent of their sales go to China. But Appalachia may feel some heat from the sinking value of the Chinese yuan. A weaker Chinese currency makes it more expensive for the Asian giant to... 

Russia raises duties on US goods in response to trade restrictions

By: Reuters     6th July 2018 Russian Prime Minister Dmitry Medvedev has signed a decision imposing extra duties of 25% to 40% on some imports from the US in response to Washington's tariff move, the Russian economy ministry said on Friday. The extra duties will apply to imports of fiber optics, equipment for road... 

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