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PGM PRODUCERS: Ivanhoe Mines Completes Strategic Equity Investment of C$612 Million (US$459 million) from China-Based CITIC Metal

Additional C$67 million (US$50 million) received from Zijin Mining through the exercise of its anti-dilution rights. Ivanhoe positioned to fully fund its share of capital costs to bring the Kakula Copper Mine to commercial production. CITIC Metal's Vice President Manfu Ma joins Ivanhoe Board

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SOUTH AFRICA: Mathunjwa wants traditional authority to take mines

Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa has urged the Bapo Ba Mogale Traditional Authority to expropriate the land on which Sibanye’s Marikana mines are on.

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PLATINUM: High platinum imports mystify industry

  • Date: 16-08-19
  • Category: PLATINUM
  • Source: The Asian Age

The domestic platinum jewellery market has been growing by around 25-30 per cent year-on-year. A sudden spurt in the imports of platinum has left the industry intrigued. In the past two months, platinum imports have gone up by almost four times compared to the same period last year.

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ELECTRIC VEHICLES: Indian OIl Refiner Plans Rapid Vehicle-Battery Swap Program

Bracing for a future with less-polluting fuels, Indian oil refiner Hindustan Petroleum Corp is planning a pilot program for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter.

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COBALT: China's Huayou pulls out of Congo cobalt mine investment after price slump

  • Date: 16-08-19
  • Category: COBALT
  • Source: Mining Weekly

BEIJING – China's biggest cobalt refiner Zhejiang Huayou Cobalt said on Thursday its overseas unit is pulling out of a deal to invest $66.3-million in a cobalt mine in the Democratic Republic of Congo (DRC) after prices of the metal slid.

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ENERGY STORAGE: CATL Connects World’s First and China’s Largest BESS Multi-Mixed Energy Power Station (100MWh) to the Grid

Contemporary Amperex Technology Co., Limited (CATL), a China-based manufacturer of lithium-ion batteries, has delivered world’s first and China’s largest battery energy storage system (BESS) multi-mixed energy power station (“the Station”) as part of the Luneng Haixi Multi-mixed Energy Demonstration Project (“the Project”), which is the first of its kind in China to integrate wind (400MW), photovoltaic (200MW), concentrated solar power (50MW), and an energy storage system (ESS) (100MWh) into one...

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WAGE NEGOTIATIONS: Platinum miners take a ‘provocative gamble’ with low wage offers

It is almost as if employers like Lonmin are trying to provoke the unions, mining expert Dick Forslund says.

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RAND: South African rand bounces back after steep sell-off

  • Date: 15-08-19
  • Category: RAND
  • Source: Nasdaq

JOHANNESBURG, Aug 15 (Reuters) - The South African rand gained more than 1 percent against the dollar on Thursday, pulling back from a steep sell-off as worries about the global economy eased slightly.

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