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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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PGM PRODUCERS: Implats full-year underlying headline earnings back to 2012 levels

Impala Platinum (Implats), the world’s third-largest platinum miner, will post its highest underlying headline earnings since 2012, fueled by higher metal prices and an operational turn around at its main Rustenburg mines.

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PGM PRODUCERS: PTM secures agreements towards paying off debt

TSX- and NYSE-listed Platinum Group Metals (PTM) has entered into an agreement with BMO Capital Markets whereby BMO agreed to buy 8.3-million common shares of PTM at a price of $1.25 apiece, amounting to about $10.4-million.

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WAGE NEGOTIATIONS: Amcu President: Lonmin Management Provoking Workers Into Another Maricana

Association of Mineworkers and Construction Union (Amcu) president Joseph Mathunjwa has accused management at Sibanye-Stillwater’s Lonmin mine of instigating another Marikana by offering workers paltry wage increases as salary negotiations continued in the platinum sector.

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MACROECONOMICS: WTO quarterly trade growth indicator drops from May

GENEVA (Reuters) - The World Trade Organization (WTO) said on Thursday that its latest economic barometer showed that the growth in merchandise trade was likely to weaken further in the third quarter.

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