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WAGE NEGOTIATIONS: NUM backs down from 25% wage rise demand

JOHANNESBURG – The National Union of Mineworkers (NUM) has backed down on its 25 percent wage demand at Royal Bafokeng Platinum (RBPlat) three months into the wage talks, Geoffrey Moatshe, the NUM Rustenburg regional chairperson, said on Friday.

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PLATINUM: Platinum: The Best Precious Metals Play for a Recession

  • Date: 14-10-19
  • Category: PLATINUM
  • Source: The Motley Fool

Gold has performed solidly in recent months, as growing fears of a recession and the ongoing trade war between the world’s two largest economies, the U.S. and China, continues to weigh on the global economic outlook. This has seen many investors elect to boost their exposure to safe-haven assets — the most widely recognized being gold. That has given all precious metals, including platinum, a boost; platinum is up by almost 13% since the start of 2019, although that is well behind gold’s 16% and

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ZIMBABWE: Zimplats seeks clarity on the yet-to-be-amended Indigenisation Act

  • Date: 14-10-19
  • Category: ZIMBABWE
  • Source: Radio VOP

The country’s biggest platinum producer, Zimbabwe Platinum Holdings (Zimplats) says the Indigenisation and Economic Empowerment Act (Chapter 14:33) is yet to be amended to give weight to Government pronouncements to remove platinum miners from the reserve list.

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RAND: Rand sustains gains after breaching sub-R15/$ level

  • Date: 14-10-19
  • Category: RAND
  • Source: IOL

DURBAN – The rand traded within a tight R14.73-to-R14.86 range on Monday after posting sustained gains over the most recent sessions, the momentum seemed to be with the local unit as it breached the sub-R15/$ level on Friday.

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FUEL CELLS: Beijing set to end subsidies for fuel cell vehicles next year

  • Date: 14-10-19
  • Category: FUEL CELLS
  • Source: Auto News

The Chinese government plans to phase out subsidies for all electrified vehicles -- including fuel cell vehicles -- by the end of 2021, China’s ministry of finance said.

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AUTO NEWS: Faurecia to acquire remaining 50% of SAS Joint Venture to expand integration to cover all interior modules

  • Date: 14-10-19
  • Category: AUTO NEWS
  • Source: Faurecia

Faurecia today announced that it has signed a Memorandum of Understanding to acquire the remaining 50% of its SAS joint venture from Continental.

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ZIMBABWE: Zimbabwe embarks on ambitious mining plan to raise $12bn by 2023

  • Date: 14-10-19
  • Category: ZIMBABWE
  • Source: Business Live

With his country battling a severe foreign currency shortage and the worst economic meltdown in 10 years, President Emmerson Mnangagwa is looking to mining exports to salvage the economy.

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BATTERIES: Eramet, BASF and SUEZ partner to develop an innovative closed-loop process for the recycling of lithium-ion batteries, responding to the strong growth of the market in the coming years

  • Date: 14-10-19
  • Category: BATTERIES
  • Source: BASF

Ludwigshafen, Germany; Paris, France – The “Recycling Li-ion batteries for electric Vehicle” (ReLieVe) project, founded by Eramet, BASF and SUEZ, will receive a substantial funding of €4.7 million by EIT Raw Materials, a consortium initiated and funded by the European Union, and the three members. The objective is to develop an innovative closed-loop process to recycle lithium-ion batteries from electric vehicles and to enable the production of new lithium-ion batteries in Europe.

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