Новости за 26.08.2019

Wieland, one of the world's largest copper product makers, said on Monday it would reduce working hours at a German plant from next month because of the slowing global economy. The plant in Villingen in southern Germany produces strips from copper and copper alloys for the automotive, electrical engineering, electronics and construction industries.

The promoters of a proposed stainless and alloy steels plant in the Eastern Cape believe that the greenfield development could support the creation of new jobs in the domestic mining and steel industries. Should it be developed in line with the current concept, Lamergyre Alloy’s vertically and horizontally integrated facility could eventually have the capacity to produce up to 6.5-million tonnes a year of new stainless and alloy steels.

Mining operations have resumed in the northern pits of the Rosebel gold mine, in Suriname, but active operations in the southern pits, along with mine development activities at Saramacca joint venture (JV) project, remain suspended. Canadian miner Iamgold earlier this month suspended operations at Rosebel, after an illegal miner gained access to the site and died following an incident with police.

The organiser of Nigeria Mining Week, Spintelligent, has welcomed the newly appointed Nigerian Mines and Steel Development Minister Olamilekan Adegbite. Spintelligent says he holds the key to driving the renewal of the country’s mining sector.

Russian President Vladimir Putin has asked the government to review a mineral extraction tax for the Russian coal industry by October 31, instructions published by the Kremlin showed on Saturday. Russia is the world's third largest coal exporter after Australia and Indonesia. Putin has been a proponent of further expansion of the country's export infrastructure and seeking new coal markets, with China seen as a particularly important customer.

Gold took a stride toward $1 600 an ounce as the US-China trade war worsened, hurting the outlook for global growth and boosting demand for the traditional haven as risk assets suffered. Bullion futures rallied as much as 1.8% to $1 565 an ounce on the Comex, the highest since 2013. Silver was also favored, with spot prices up as much as 2.1%. The advances in the week’s opening session followed gains on Friday.