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Glencore’s demonstrating prompts investigator energy

The production report from diversified mining and marketing company Glencore, which is seen as offering particular leverage to copper and zinc’s currently attractive fundamentals, elicited favorable analyst comment. “Glencore remains our sector top pick,”Barclays Equity Research analysts Amos Fletcher  and Ian Rossouw commented. “We have a ‘buy’ on Glencore,” stated UBS analysts Miles …

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Diamond output leap helps Anglo

A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a  copper-equivalent basis. Rough diamond production increased by 36% to 8.7-million carats, with production in Canada reporting …

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Australian firm gets coal mining license in Botswana

Australian mining company African Energy Resources (AFR) has been granted a coal mining license in Botswana. The company said the 25 years mining license covers an area of 51.47km2 and contains 650Mt of raw coal in measured and indicated resources. “Granting of the mining license is an important step towards finalising the permits for …

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Brazil’s Vale agrees to new terms with Mitsui Mozambique coal assets

Vale has agreed to new terms for the sale of stakes in a coal mine and railway project in Mozambique to shareholder Mitsui & Co, in a deal that will raise $768-million and could help Vale free up to $2.7-billion in funding commitments for both projects. The sale of Vale’s …

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South African Treasury Department blocks Eskom from extending coal supply contract with Tegeta

South Africa’s National Treasury denied Eskom’s request to extend a short-term coal-supply contract for the Arnot power plant with Gupta family-controlled Tegeta Exploration and Resources, the electricity producer said. Four companies including Tegeta are providing the plant with coal until long-term suppliers are named at the end of September, Khulu …

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Anglo diamond, copper, coal, manganese alloy, niobium outputs fall

Diversified mining company Anglo American has produced less diamond, copper, coal, manganese alloy and niobium in the three months to March 31. Diamond production fell by 10%, copper production by 19%, export thermal coal by 13%, export metallurgical coal by 9%, Eskom coal by 8% and niobium by 13%. Refined …

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