Mining Industry News
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Deogratias Mutombo Mwana Nyembo, who became Democratic Republic of Congo’s central bank governor last week, may boost efforts to extend financial services to more of the country’s 70 million people, an industry group said.
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Sibanye Gold Ltd. led losses among South African gold producers as work stoppages at the country’s platinum mines stoked investor concern that renewed labor unrest will curb output.
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Australia’s benchmark bond yield is offering the smallest premium over U.S. notes in 11 months as the sharpest predicted growth slowdown in four years spurs bets on further interest rate cuts.
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Transnet SOC Ltd., South Africa’s state-owned ports and rail operator, is giving up a state guarantee for its debt as borrowing costs fall amid a seven-year infrastructure spending plan.
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Lonmin Plc, the world’s third-largest platinum producer, said operations at its Marikana mine in South Africa have been halted after workers refused to go underground following a union official’s death.
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South Africa’s anti-corruption police unit said it will be shutting shafts at an abandoned mine west of Johannesburg to try stop illegal mining.
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Dowa Holdings Co., Japan’s biggest silver producer, will raise output 40 percent this year to meet solar-cell demand after the 2011 Fukushima disaster crippled a nuclear power plant and sent fossil fuel costs higher.
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Peru’s central bank kept borrowing costs unchanged for a 24th straight month as policy makers expect inflation to converge to the mid-point of their target amid near-potential economic growth.
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The Reserve Bank of Australia cut its inflation outlook and reiterated its forecast for “below trend” growth this year, driven by an elevated currency, a crest in resource investment and fiscal tightening.
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Coal India Ltd., the nation’s biggest producer of the commodity, cut output across its operations after a federal order to keep explosives from terrorists halted shipments of the material that’s also central to mining.
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