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Zimbabwe gives foreign firms empowerment ultimatum

Zimbabwe's government has given foreign firms, including mines and banks, a 14-day ultimatum to submit "acceptable" plans on how they propose to transfer majority shares to locals or risk losing permits

Russia’s Mechel H1 coking coal output up 28 pct

MOSCOW, Aug 10 (Reuters) - Russian mining conglomerate Mechel said on Wednesday that first half coking coal concentrate output reached 4.5 million tonnes, up 28 percent from last year thanks to strong demand. Overall coal output declined by 5 percent

Mechanic killed in Ohio coal mine accident

A coal mine mechanic has died from an accident at an underground mine in eastern Ohio. American Energy Corporation says the worker was fatally injured while working alone early Monday at the Century Mine in Beallsville.

BRIEF-Vedanta buys stake in Liberia iron ore project for $90 mln

LONDON, Aug 8 (Reuters) - Vedanta Resources PLC: * Sesa goa to acquire 51% stake in western cluster * Sesa goa to acquire a 51% stake in western cluster limited, liberia * For a cash consideration of US$ 90 million * Sesa goa will become a significant

Suriname leader creates panel to seek mining deal

Suriname President Desi Bouterse has named a commission that will try to negotiate a deal for one of the world's largest gold mining companies to begin a mine project in the undeveloped South American nation. The seven-member panel announced Saturday will be negotiating with U.S.-based Newmont Mining Corp.

‘Gold Cartel’ losing, price to top $3,000: Association

The price of gold could almost double as central banks' reserves are depleted, according to the chairman of a gold industry association. "You could see $3,000 to 5,000 to clear the market as the central banks and bullion banks run out of gold to meet the growing demand," Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), which is hosting a conference in London this week, told CNBC Thursday.

Bank of Korea buys gold, first time in over 10 years

South Korea's central bank said it bought 25 tonnes of gold between June and July to diversify its foreign reserves, its first purchase in more than a decade, boosting its total gold holding to 39.4 tonnes.
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Dennis Gartman: irrational selling driving commodities lower

Looking at the sell-off in gold, oil, copper and other commodities, strategic investor Dennis Gartman says, it feels like the market is growing irrational.