Congo’s Gecamines offers $1 million to block Chinese deal with Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
South Africa’s power problems are beginning to take a huge bite out of the country’s precious metals production and the situation is likely to get worse, according to industry insiders.
This week Cynthia Carroll, the head of Anglo American, warned that platinum production for Angloplats was likely to fall by 150,000 oz this year due to power problems; Lonmin also admitted this week that it had dropped its full-year sales target from 860,000 oz to 775,000 oz…more at platts.com
