Lithium miners cash in as battery storage lifts demand
LITHIUM producers from China to Australia have reported sharply higher profits as rising battery-storage demand lifted prices for the metal, Bloomberg reported. Chinese producers…
AI minerals drive plans for Congo’s first stock exchange
THE Democratic Republic of Congo is developing plans for its first stock exchange, with the Kinshasa bourse potentially operational as early as next year, said Bloomberg News.…
Gold Fields “well positioned” to renew Tarkwa licence
GOLD Fields responded to speculation it was set to lose the Tarkwa mine in Ghana saying on Monday it was “well positioned” to continue operating it. Bloomberg News reported on…
Police officer killed during cable theft at Kenmare mine
A POLICE officer was killed at Kenmare Resources’ Moma mine in Mozambique in an event related to the theft of electrical cables, the UK-listed firm said today. On September 30,…
Kenmare to book $125m impairment amid oversupply
KENMARE Resources announced on Wednesday it would book an impairment of no more than $125m on its first half accounts as it expected long-term prices for its minerals to be…
Central banks plan record gold purchases amid dollar concerns
CENTRAL banks expect to maintain record-breaking gold purchasing patterns this year whilst anticipating a decline in US dollar holdings over the next five years, according to new…
Uganda is the latest African nation to target gold purchases
UGANDA is the latest African nation to turn to gold to back up its currency after it set out plans for domestic purchases of the precious metal, said Bloomberg News. By buying…
Zimbabwe “worried” over delays to platinum mine
ZIMBABWE’S government is due to meet with Bravura Holdings over delays to a proposed platinum group metals project, said Bloomberg News in an article republished by News24.…
Zimbabwe’s central bank to launch gold-backed digital currency on May 8
ZIMBABWE’S central bank is to sell a gold-backed digital currency from May 8 in an effort to stabilise its currency and offer and alternative to the US dollar. “The issuance of…
US judge orders Glencore to pay $700m as fallout from bribery scandal continues
GLENCORE has been ordered to pay $700m in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries, Reuters reported on…
Glencore agrees to pay $180m in penalties to DRC related to corrupt activities
GLENCORE is to pay $180m to the Democratic Republic of Congo (DRC) for corrupt practices in which it engaged between 2007 and 2018 in an agreement today that also extends to…
Glencore sets aside $1.5bn in penalty provision as anti-graft investigations near closure
GLENCORE has set aside $1.5bn in provisions related to penalties it believes may be imposed by anti-graft authorities which are currently running investigations into the group’s…
Nigeria not on Barrick Gold’s “target list” despite minister’s enthusiasm for talks
BARRICK Gold hadn’t put Nigeria on its “target list”, according to a company spokeswoman responding to comments by the West African country’s mines minister that the Canadian…
Zimbabwe asked to pay $70m after platinum, nickel assets cancelled 10 years ago
ZIMBABWE has been asked to pay $70m after losing international arbitration proceedings related to the cancellation of platinum and nickel holdings, said Bloomberg News. An…
Glencore condemns former employee who pleaded guilty to oil contract bribery
GLENCORE condemned the conduct of a former employee who pleaded guilty on Monday of having bribed officials in Nigeria in exchange for favourable contracts from the country’s…