Mining: Glencore shares jump on asset sales, strong trading

Mining and trading company Glencore said on Wednesday it was on track to reduce debt thanks to asset sales, while deepening cuts in copper output to support flagging prices, sending its shares 6 percent higher.

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Work to start in 2016 at Botswana $4.2 bn coal-to-liquids plant

File photo©ReutersFunders of a $4.2 billion coal-to-liquids plant in Botswana will start construction next year on the project, which aims to tap the southern African country's more than 200 billion tonnes of coal resources to reduce reliance on petroleum product imports.

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Tiger Resources' Congo copper mine gets $160 mn investment

The International Finance Corporation (IFC) and Australian-based fund manager Taurus Mining have agreed to invest $162.5 million in one of Democratic Republic of Congo's largest copper mines, its owner Tiger Resources said on Friday.

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Mining: South Africa's AMCU union to vote on gold strike

South Africa's Association of Mineworkers and Construction (AMCU) will decide on Sunday if its members in the ailing gold sector will go on strike, a move that will be contested by two of the three producers it has reached an impasse with over wages.

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Mining: Zambian firms demand reduced royalties

Mining companies in Zambia have asked the government to set mineral royalties for both underground and open pit operations at 6 percent to mitigate the negative impact of falling copper prices on the industry, sources said.

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South African mines to suffer job cuts in Glencore move

File photo©ReutersMiner and commodities trader Glencore, which is reviewing its operations in the face of a slump in commodities prices, announced more job cuts at its mines in South Africa on Thursday.

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We have absolutely no solvency issues - Glencore

Mining and trading company Glencore said on Tuesday its business remained "operationally and financially robust" and it was confident in the medium and long-term fundamentals of its commodities.

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Glencore raises $2.5 bn in share sale to cut debt

Mining and trading group Glencore has raised $2.5 billion through a share placement as investors including senior managers upped their bets on the company to help it cut debt and protect its credit rating.

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Environment: Zambia orders Vedanta's Konkola to dispose of Chilean copper

Zambia's environmental management authority on Monday ordered Konkola Copper Mines (KCM) owned by Vedanta Resources to dispose of copper concentrates it imported from Chile because they had high levels of arsenic, a toxic substance.

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Mining: China's CNMC challenges Zambia after placing 1,600 miners on forced leave

China's CNMC Luanshya Copper Mines claims it followed Zambian law when it closed the Baluba mine and sent more than 1,600 workers on forced leave after Zambia threatened to revoke Luanshya's mining licence if the company did not reinstate the workers.

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Glencore to suspend dividend, raise equity to cut debt

Mining and commodities trading firm Glencore announced on Monday it will suspend dividends, sell assets and raise $2.5 billion in a new share issue as it aims to cut its debt by a third to $20 billion by the end of next year.

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South African gold sector unions reject final wage hike offer

The South African Chamber of Mines said on Friday all unions representing workers in the gold sector have rejected the final wage increase offer from bullion producers, setting the stage for protracted negotiations.

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Mining: South Africa's Palabora halts copper mine operations after protests

Photo©ReutersPalabora Mining Company has halted operations at its South African copper mine after protests by members of a nearby community over job recruitment procedures, a company official said on Wednesday.

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Wage talks begin in ailing South African gold sector

Photo©ReutersWage talks between South African bullion producers and unions started on Monday, with both sides far apart, setting the stage for protracted wrangling in the ailing industry.

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Mining: dealing in the downturn

Everyone knew the gold price bonanza would not be a bottomless lake – and now it’s sink or swim. Photo©AlamyThe dramatic fall in the gold price has exposed just how many miners did not save enough during the boom years. They are now looking to sell off non-essential assets, while new tax regimes and community activism add to their pressures.

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Mining: Record breakers

The government is unable to keep up with the demands of the energy-hungry industry. Photo©Olivier PoletGold and copper production are soaring after significant investment by mining companies, which have taken the lead in tackling power deficiencies.

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Mining: Zambia's government irked over layoffs by Canada's First Quantum Minerals

File photo©ReutersThe Zambian unit of Canada's First Quantum Minerals said more than 300 workers were being laid off at its Kansanshi mine, drawing a government call for redundancies to be canceled on the grounds it had not been informed as required by law.

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Mining sector concerned at draft changes to Congo regulations

Photo©ReutersMining companies said on Monday the Congolese government's suspension of negotiations with them over new regulations could jeopardise investments, and urged it to resist making big changes to the mining code.

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Mining firms seek clarity on Zimbabwe platinum export tax

Photo©ReutersMiners Aquarius and Impala said on Friday they are seeking clarity from Zimbabwe's government over a proposed 15 percent export tax on unrefined platinum which, if enforced, would slash their margins.

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A new mining landscape

Coal prices are down, but companies like Vale take a longer term, cyclical view©Marcelo coelho/valeThe rise and rise of global commodity prices is over, but it's not all gloom and doom in the mining sector. What we can expect in the coming year is a geographical shift in both the African countries offering the best investment environment and the global players looking to profit.

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