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  • LONDON, July 31- Barrick Gold Corp's sale of half of its Zaldivar copper mine in Chile to Antofagasta for what analysts say is a pricey $1 billion hit Antofagasta's shares on Friday, but could help Anglo American in its own copper assets sale. Shares in Antofagasta fell by almost 5 percent on Friday to their lowest in six years, after the announcement late on...

  • LUSAKA, July 30- Zambia's Copperbelt Energy Corporation will cut power supply to mines it services by 30 percent from midnight, a senior industry official said on Thursday. Copperbelt Energy buys electricity from state power company Zesco Ltd and supplies it to companies including Vedanta Resources, Glencore and Vale. "Copperbelt Energy Corporation...

  • LUSAKA, July 30- Zambia's Copperbelt Energy Corporation will cut power supply to mines it services by 30 percent from midnight, a senior industry official said on Thursday. "Copperbelt Energy Corporation informed us this morning that it will cut power supply to the copper belt mines it supplies by 30 percent from midnight. Copperbelt Energy buys electricity...

  • Lonmin: victim of price falls and management wobbles Thursday, 30 Jul 2015 | 8:53 AM ET

    LONMIN: VICTIM OF PRICE FALLS AND MANAGEMENT WOBBLES@* Platinum producers hit by falling prices, rising costs* Lonmin seen bleeding more quickly than others* Shares hit lowest levels since 1979. LONDON/ JOHANNESBURG, July 30- Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and...

  • First Quantum said it was unable to provide estimates on how long the power supply reduction would last or its impact on production. The country's power provider ZESCO has contracted independent power producers to procure more electricity by the end of 2015, First Quantum said. First Quantum's Zambian smelter, which ramped up in February, is expected to...

  • LONDON, July 17- Whoever took all the lead out of the London Metal Exchange warehousing system in the second quarter has just been kind enough to return it. A total 50,475 tonnes of the heavy metal were placed on warrant in the South Korean port of Busan earlier this week. The International Lead and Zinc Study Group assesses lead as being in small 7,000- tonne...

  • LUSAKA, July 15- Zambia's mining industry said on Wednesday that an increase in corporate tax to 35 percent and other new tax rules will scare away investors and discourage processing to add value, and called for them to be scrapped. Last month Zambia, Africa's No.2 copper producer, approved a plan to increase the corporate income tax rate on mineral processing to...

  • *Analysts expect Anglo American and Glencore dividend cuts. It comes as little surprise, therefore, that miners have been among the worst performers on London's FTSE 100 index of blue-chip companies so far this year. With prices where they are, you wouldn't expect any of the majors to think about big buybacks, "said Nik Stanojevic at British wealth manager Brewin...

  • KOLWEZI, Democratic Republic of Congo, July 8- W hen it was signed in 2007, China's $6 billion' minerals for infrastructure' deal in Congo stirred fears among Western countries that Beijing's hunger for resources would erode their influence and saddle the vast central African country with unmanageable debt. Chinese firms Sinohydro Corp and China Railway...

  • *Nigerian government arrears total $20 bln- report. *Buhari advised to increase debt, cut govt costs. JOHANNESBURG, July 7- Advisors to Nigerian President Muhammadu Buhari have recommended a root and branch overhaul of Africa's biggest oil industry and increased borrowing to help pay off $20 billion of government arrears, a reform proposal document shows.

  • DUBAI, July 4- Iran's oil minister Bijan Zanganeh will soon present a long-awaited template for new international oil contracts to the government, as foreign companies watch for a nuclear deal that could allow them into a major untapped market. "The oil minister will soon lay out the new model for Iran's international oil contracts to the council of ministers,"...

  • *Glencore takeover risk rises as shares fall. LONDON, July 2- Anglo American is planning to cut between 5 and 20 percent of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. Anglo American declined to comment.

  • *Glencore takeover risk rises as shares fall. LONDON, July 2- Anglo American is planning to cut between 5 and 20 percent of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. Anglo American declined to comment.

  • LONDON, July 1- Global mining firm Glencore said on Wednesday it would go ahead with a plan to close some operations at its Optimum Coal subsidiary in South Africa due to weak coal prices, a move which will result in the loss of 600 to 700 jobs. South Africa's National Union of Mineworkers had bitterly criticized the company's plan to shut down these assets, accusing...

  • LONDON, July 1- Global mining and trading company Glencore said on Wednesday it would go ahead with its plan to close some operations at its Optimum coal assets in South Africa, which will result in the loss of 600-700 jobs.

  • *Glencore seen as main competitor for coal assets deals. Davis set up X2 Resources in 2013 only months after commodity group Glencore took over Xstrata. His fund has raised about $5.6 billion and has six main private investors, which include commodity trader Noble Group and private equity group TPG Capital, an Abu Dhabi investment fund and a Canadian pension...

  • LONDON, June 30- X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bi-lateral talks to buy some of Rio Tinto's Australian coal assets, a source close to the situation said on Tuesday. The mining industry veteran is also considering buying some coal mines Anglo American has put up for sale in Australia, sources close to X2...

  • SANTIAGO, June 23- Workers at Chile's massive Collahuasi copper mine on Tuesday said they would not back down in a conflict with employers and urged miners elsewhere to stage a national strike. The principal union at the Collahuasi mine, owned jointly by Glencore Plc and Anglo American Plc, described the firing of 31 striking workers eight days ago as "...

  • How badly did miners suffer last year? $156B bad Monday, 15 Jun 2015 | 11:45 PM ET
    Trucks at an iron ore mine

    The world's biggest miners lost $156 billion of their combined market value last year, according to new data, and the losses could keep flowing.

  • MOSCOW/ LONDON, June 14- Some of the world's most powerful oil executives will attend Russia's top investment show this week, once again helping the organisers shrug off a meagre turnout from other leading Western industrialists and bankers. Many CEOs and chairmen from major U.S. and European firms withdrew from last year's St Petersburg International...