As soon as the sale was completed, Rio received $150 million in cash and is set to get an unconditional cash payment of $50 million due in 12 months.
Glencore Mining News
Top supplier of battery raw material ups output 34% year on year.
The decision is a setback for the Swiss commodity trader, which is facing multiple disputes in the central African nation.
The mining companies insist the government reinsert a stability clause, present in the former code.
It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo.
WHO: Risk of international spread of deadly disease from Congo, responsible for 66% of global supply of critical battery raw material, is "very high".
Chengdu-based Tianqi is seeking to almost triple production capacity through 2020.
The glacier inventory is now the most authoritative document indicating where the no-go zones are for mining.
Britain’s Serious Fraud Office plans to open a formal bribery investigation into Glencore and its deals with Israeli billionaire and former partner Dan Gertler.
Tanzania is seeking a bigger slice of the pie from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.
A scheduled hearing in a London court Friday was postponed as both sides worked to come to an amicable solution.
Congo accounts for around 60 percent of global supply - estimated at around 110,000 tonnes this year.
Congo's state miner Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming Glencore for high debts that have weighed on the mine for more than 10 years.
The Qatar Investment Authority (QIA) is taking a stake in Rosneft of nearly 19 percent, after a deal with China's CEFC fell through.
Utilisation rate at mills climb back to November level.
Qatar Investment Authority stepped in after the sellers -- a consortium of QIA itself and mining giant Glencore Plc -- told CEFC it wouldn’t proceed with the original deal announced in October.
China to allow foreign investors in iron ore futures from Friday.
The miner and commodities trader is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms.
Anglo American Plc, Glencore Plc and BHP Billiton Ltd. are generating the highest profits in years from their coal mines.
The Swiss miner was granted a temporary injunction against the Israeli billionaire after petitioning the London court to rule against a Congolese judge’s decision last week to freeze assets at its Kamoto Copper project.
Gertler, who is the subject of U.S. sanctions, is owed some royalties by Glencore, but the London-listed company disputes the amounts claimed.
Lack of new projects, investment deficit and increasing political risk will hit supply of cobalt, lithium, copper and nickel, key metals for making the batteries that power electric cars.
Shares fell as much as 3.9% after the company said late Friday that a Congolese court authorized bailiffs to freeze certain Glencore assets after Israeli billionaire Dan Gertler served orders on local units for almost $3 billion in damages.
Gecamines said on Tuesday that debts owed by Kamoto to Glencore and its subsidiaries at the end of 2017 topped $9 billion.
Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.