Thursday, March 22, 2018

Glencore International and Credit Suisse are said to be in advanced discussions about creating the world's first physically backed aluminium exchange traded fund.

Glencore's Mopani Copper Mines has reversed a plan to suspend output at its copper mines because of a pick up in prices.

Zincor plans to meet customers' short-term requirements and it will decide early next week when to restart halted operations.

South Africa's only zinc refinery, Zincor owned by Exxaro, temporarily stopped operations after three people were killed and a dozen more hurt in an explosion.

AngloGold Ashanti and RUSAL are among three firms into which the Guinea government will conduct an audit investigation.

Zambia has projected a slight rise in 2009 copper output to 664,000 tonnes, compared with previous estimates of 600,000 tonnes due to rising production at the mines.

Metorex, which has sold off a number of assets, is continuing to look for ways to cut debt sharply by December. It posted disappointing full-year results.

A unit of Swiss company Glencore International will develop an open pit copper mine in Zambia after authorities approved its proposal for the project.

Metorex says it might bring a strategic investor into the holding company or into its assets as part of a plan to address more than R2bn of debt in the group by December 2009.

Global miner Rio Tinto has ceased iron ore price talks with Chinese customers, but it denied a media report the talks had ended because of the detention of its negotiators.