Endeavour bid for Centamin will boost mining interest in Egypt – minister

The UK High Court ruling is the latest setback BSG Resources, which is fighting on multiple legal fronts over the alleged corruption case.

According to the team of explorers, the silver treasure found belonged to the infamous 17th-century Scottish pirate William Kidd.

The company's shares have lost over 40% of their value since it first listed in 2011 on the London Stock Exchange.

The company now expects earnings before interest, tax, depreciation and amortization, which is a more closely watched metric than net income in the steel industry, to be between $6bn and $7bn.

Prices of commodities are expected to remain high and to be a key driver of African growth over the next few years

The Africa-focused gold producer saw its first-quarter profit fall16% due mainly to lower bullion prices and reduced production.

Steelmaking raw material now up 28.7% from decade lows hit last month.

BHP Billiton shareholders have overwhelmingly voted in favour of the South32 demerger, a spin off that creates Australia’s third-largest mining company.

The mines ministry has missed an April deadline to ask courts solve the issue of whether companies may claim they meet black-ownership quotas if shareholders have sold their stakes.