Recent Articles

South Africa's last bullion bluechip battles relegation

Posted on October 5, 2015

The Johannesburg stock market, the capitalist heart of South Africa's 'City of Gold', is close to relegating the last bullion producer in its bluechip index, the latest sign of the precious metal losing its place in an economy it once dominated.

European shares lifted by rise in auto and mining stocks

Posted on October 1, 2015

European stocks were also supported by gains overnight on Asian and U.S. equity markets, with some traders viewing more weak Chinese data as a sign that Beijing may undertake further measures to bolster the country's economy.

Australia mining stocks have never mattered less after 21% slump

Posted on September 30, 2015

Australia's stock market was once synonymous with raw materials. Not anymore.

Glencore's Zambian unit plans to cut more than 3,800 jobs: government sources

Posted on September 23, 2015

Glencore's (GLEN.L) Zambian unit Mopani Copper Mines (MCM) has notified the government that it plans to lay off more than 3,800 workers due to lower metal prices and high production costs, government sources said.

LME says in talks on launch of precious metals derivatives

Posted on September 10, 2015

The London Metal Exchange is in talks with the gold industry with a view to launching precious metals derivatives, LME Chief Executive Garry Jones said on Thursday.

Potash Corp might be prepared to make hostile K+S bid

Posted on September 9, 2015

According to German newspaper Handelsblatt.

Major banks' commodities revenue down 25% in first half

Posted on September 8, 2015

Revenue earned by leading banks from commodity trading, selling derivatives to investors and other activities in the sector fell to $2.6 billion from $3.5 billion in the same period of 2014.

Freeport lays off 650, slows operations at Chile's El Abra mine

Posted on September 3, 2015

The Arizona-based mining company also said it is partially suspending operations at the complex until mid-September, as it cuts mining rates in half.

South Africa seals mining jobs deal, proposes platinum plan

Posted on August 31, 2015

South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs.

South Africa's mining industry to sign jobs pact – govt

Posted on August 25, 2015

The country's mining ministry hopes to clinch a deal with mining companies and trade unions next week aimed at saving jobs.

Most Canada oil sands crude being produced at a loss — report

Posted on August 20, 2015

More than three-quarters of Canada's daily output of 2.2 million barrels of crude from oil sands is being produced at a loss at current prices, research from analysts at TD Securities shows, although producers are unlikely to halt operations.

Brazil's Vale plans debt sale to expand Carajas railway

Posted on August 5, 2015

The board of Vale SA , the world's largest iron ore producer, on Wednesday approved plans to raise 1 billion reais ($287 million) from the sale of debt notes to expand the railway system at its Carajas ore mine

Potash Corp-K+S deal may limit further consolidation-Mosaic

Posted on August 4, 2015

A possible takeover of German potash miner K+S by Potash Corp of Saskatchewan would make further consolidation less likely, the incoming chief executive of fertilizer maker Mosaic Co said on Tuesday. via Potash Corp-K+S deal may limit further consolidation-Mosaic | …

Canpotex taps Cameco's Seitz as next CEO

Posted on August 4, 2015

Canpotex Ltd, the potash export sales arm for Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc, said on Tuesday that Ken Seitz would succeed Steve Dechka as chief executive officer on Nov. 1

Bucking the global trend, South Koreans pile into gold

Posted on August 4, 2015

South Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China's stock markets will destabilise South Korean equities and keen to replenish a traditional store of value in an era of low interest rates.

For Indians, paper gold can't beat the real thing

Posted on July 13, 2015

India is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared 'black money'.

The fate of global rare earth miners rests on a China smuggling crackdown

Posted on July 10, 2015

The fate of debt-ridden U.S. rare earth miner Molycorp rests on China's efforts to crack down on networks that smuggled as much as 40,000 tonnes of the vital technology metals out of the country last year, driving down global prices.

Cupric to spend $200 mln to build Botswana copper mine

Posted on July 7, 2015

Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production.

Botswana seeks bids to build solar plants for mines

Posted on July 7, 2015

Botswana's government launched a bidding process on Tuesday to construct solar power plants near its huge Jwaneng diamond mine.

Gold above 3-1/2 month low after positive U.S. jobs data

Posted on July 2, 2015

The metal cut some losses on Thursday, rebounding slightly from a 3-1/2 month low after data showed the U.S. labour market to be weaker than expected in June.

Gold steadies as Greece fears offset by weaker euro

Posted on June 29, 2015

It gave up early gains as the prospect of a Greek debt default, which hit European shares, was offset by a strengthening dollar and wariness among investors over the metal's longer-term outlook.

Burkina Faso parliament adopts new mining code

Posted on June 26, 2015

Burkina Faso's transitional parliament passed a new mining code on Friday that abolishes a previous 10 percent tax break on mining company profits and obliges firms to pay into a local development fund.

Gold slips to 2-week low as buyers await news on Greece

Posted on June 24, 2015

Gold edged lower on Wednesday as the dollar pared earlier losses versus the euro, while traders took to the sidelines to await news on Greece's negotiations with its international lenders to avoid default.

Vale expects to raise $1.5 bln from asset sale in Brazil

Posted on June 24, 2015

The world's largest producer of iron ore could raise about $1.5 billion through the sale of a stake in one of its Brazil-based assets.

Asian coal prices close to floor, unlikely to fall further than $10 -industry

Posted on June 10, 2015

Coal prices in Asia are already at levels that have forced some producers to curb supply and are unlikely to fall more than another $10, industry officials said.

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