jueves, 26 de octubre de 2017

Savannah Resources enters the lithium race in Europe

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Europe News Digest
Friday 27 October 2017
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The miner wants to address the needs of European automakers.

The London-listed company sealed a 7-year commercial deal with Wilmar Group.

A Mi-8 helicopter operated by Russian coal company Arktikugol crashed on Thursday with eight people on board.

Kumba Iron Ore increased its full-year production target by 1-million tonnes.

Orders jump 10% at Swedish mining equipment maker during third quarter.

Petra Diamonds Ltd's first quarter revenue fell by 17 percent after Tanzanian government last month seized consignment of diamonds from its Williamson mine.

Red Kite, the largest metals hedge fund in the world run by UK Conservative Party donor Michael Farmer, is alleging that Barclays Bank attempted to rig the copper market through insider dealings with the London Metal Exchange.

Permit lets Bacanora go-ahead with its 35,000tpa (tons per annum) lithium carbonate operation in Mexico.

With the newly unearthed 34.17-carat diamond, Alrosa has hit an annual record in the number of large fancy-coloured stones found at its operations.

Russian miner posts another quarter of record production on the way to 2.8m ounces in 2019 as its $2.2 billion Natalka mine ramps up.

Chinese buyers are rumoured to be the key targets of the sale.

The Swedish firm is fine-tuning details for a group split that will see its mining, infrastructure and natural resources business trade as a new company in 2018.

Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.

Part of a coal mine in Turkey's southeastern province of Sirnak has collapsed, leaving eight workers trapped inside.

Deal allows the Stellar to focus on its bigger Tongo-Tonguma project in Sierra Leone, which would be the country's second largest diamond mine ever.

In one of the clearest signs of a tight cobalt market, Volkswagen has failed to secure a long-term supply of cobalt used in electrical vehicle batteries.

The metal has doubled in prices since late 2015 and investor demands are rising for this "hot commodity."

Researchers estimate that roughly 43 kg of gold — worth about $1.8 million at current prices — and 3,000 kg of silver (worth nearly $1.7 million) were flushed away last year.

Open Mineral Exchange has managed to attract mining companies and smelters wanting to cut out the middlemen and save cash on deals for concentrates.

The company says that labour disruptions in South Africa and the confiscation of a parcel of diamonds by the Tanzanian government are to blame.

Gold recovery from the leach pad at the operation has lagged internal expectations.

Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital.

South Africa's Solidarity union cites low commodity prices and rising costs as two main factors behind the job cuts.

Ken MacKenzie defended CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie's tenure was imminent.

"I think that the third-quarter results will confirm that the full-year EBITDA will be higher than last year," says KGHM CEO Radoslaw Domagalski-Labedzki

The combination of spread stress and large flows of metal in the LME system suggests we've just witnessed a big bear-bull battle among physical players.

As a result of the permits, Glencore can acquire shares in companies Aluminium of Ukraine and Guardon Ukraine.

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