Month: September 2018
Metallurgical coal prices starting to slip: Fitch
A report by Fitch Research predicts that metallurgical coal prices will decline from their current high levels over the next 18 months. Thus, the report suggests miners’ focus would probably be on cost controls. According to the market researcher, global...
Tiberius tests its metals in crypto backed by copper, gold
Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1. Aiming to distinguish its Tiberius Coin...
SolGold loss almost doubles as its goes all in at Ecuador projects
Shares in Ecuador-focused explorer SolGold (LON, TSX:SOLG) dropped Friday in Toronto after the company reported an annual loss that almost doubled the one registered in 2017. For the 12 months to June, SolGold’s pre-tax loss was A$15.3 million, compared to $8.3...
Chinese interested in buying Rio Tinto’s Namibian uranium mine
Rio Tinto (ASX, LON:RIO), the world’s second largest miner, has been talking to China National Nuclear Corporation (CNNC) about selling the state-owned company its stake in Namibia’s Rössing uranium mine. While the mining giant has not officially acknowledged the negotiations...
China battery firms set up $700m nickel joint venture in Indonesia
BEIJING, Sept 28 (Reuters) – Chinese battery firm GEM Co Ltd on Friday said it was teaming up with four companies to invest a total of $700 million in a project to produce battery-grade nickel chemicals in Indonesia. The investment comes as...
Union says reached wage deal with Alcoa Australia, will end strike
SYDNEY, Sept 28 (Reuters) – Unionised workers at aluminium producer Alcoa’s Western Australian operations on Friday agreed to end a strike that lasted more than six weeks after securing better job security provisions in a new wage agreement. Workers at...
Asia Gold-Buying picks up in China on lower prices; India discounts narrow
MUMBAI/BENGALURU, Sept 28 (Reuters) – Physical demand saw an uptick in the world’s biggest gold consumer, China, after prices fell to six-week lows this week, while discounts narrowed in India as buyers postponed purchases, awaiting a bigger fall. Premiums in...
Zambia hikes mining taxes in 2019 budget to rein in debt
LUSAKA, Sept 28 (Reuters) – Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said in a budget speech on Friday, as crowds outside protested about alleged government corruption. Delivering a...
Congo-owned Sokimo may hinder transfer of Kibali mine to Barrick
Congo’s Société Minière de Kilo-Moto SA, better known as Sokimo, warned Friday that if Randgold Resources transfers to Barrick its stake in Kibali gold mine, in which the state miner has a 10% interest, it would be forced to “assert...
Chile greenlights Latin America’s largest desalination plant
After more than a year of evaluation, Chile’s environmental authority has approved the development of what it would be Latin America’s largest desalination plant, to be built in the country’s dry Atacama region. The Energy and Waters of the Pacific...
Greece expects one-month extension in coal-fired plants tender
ATHENS, Sept 27 (Reuters) – Greece expects that the European Commission will give it one more month until November to name a winner in the sale of coal-fired plants, its energy minister said on Thursday. Greek utility Public Power Corp. (PPC),...
The Californian rare earths mine caught between Trump and China
(Bloomberg) — The only operating rare earths mine in the U.S. – 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...