Bank and Insurance

Mining News Pro - Mining companies in Zimbabwe said a central-bank requirement compelling them to surrender more foreign exchange earned from mineral exports will push their operations to the brink.

Mining News Pro - Zimbabwe`s central bank will unbundle its gold refining and printing unit into two separate companies and sell a majority stake in the new gold refinery business to miners, governor John Mangudya said on Wednesday.

Mining News Pro - CEO of Bank Mellat said that Nicico is one of their important, major and effective customers.

Mining News Pro - Financing options open to Australia’s coal operators dwindled further after another of the country’s largest banks said it would end almost all investment in thermal mines and power stations by 2030.

Mining News Pro - Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.

Mining News Pro - The research director of Parsian Bank said that their company will supply facilities for activists.

Mining News Pro - Bank of Nova Scotia’s compliance officers failed to stop its precious metals traders from manipulating markets despite having information about the activity, according to the US government.

Mining News Pro - Horizonte Minerals announced on Wednesday that it has executed a mandate to arrange a senior secured project finance facility of up to $325 million to fund the construction and development of its flagship Araguaia nickel project in Para state in Brazil.

Mining News Pro - Horizonte Minerals has executed a mandate to arrange a senior project finance facility of up to $325-million to fund the construction and development of its Araguaia ferronickel project, in Brazil.

Mining News Pro - A Tanzanian hand-miner became an instant millionaire after selling the two of the largest tanzanite gems ever discovered to the government.

Mining News Pro - The State-owned Land and Agricultural Development Bank of South Africa announced in an update on liquidity that it would be raising R3-billion and restructuring its debt.

Mining News Pro - Fully-digital retail finance house TymeBank is poised to achieve its two-million-customer milestone three months ahead of schedule, African Rainbow Capital (ARC), its majority shareholder, stated on Friday.

Mining News Pro - The bank`s provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019.

Mining News Pro - Bank of Nova Scotia has set aside C$232 million ($168 million) to cover the cost of winding down its historic precious-metals unit as well as a potential settlement of U.S. investigations into the unit’s trading activities.

Mining News Pro - The World Gold Council (WGC) in its latest `Central Bank Gold Reserves (CBGR)` survey highlights several notable shifts in central bank attitudes towards gold this year.

Mining News Pro - Three dozen lawmakers are pushing the Trump administration to get tough on banks and asset managers that restrict financing for oil drilling and coal mining, arguing they are “discriminating against America’s energy sector” and it “must be confronted.”

Mining News Pro - HSBC Holdings Plc, one of the largest players in the gold market, was caught out in March as lockdowns disrupted physical shipments of bullion and caused prices to diverge dramatically in key trading hubs.

Mining News Pro - Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce — more than 50% above the existing price record — in a report titled “The Fed can’t print gold.”

Mining News Pro - Gold has rarely been a hotter trade, but the world’s two most important markets remain out of sync. In New York, the price of gold topped $1,750 for the first time in seven years on April 9. In London, it still hasn’t caught up.

Mining News Pro - Russia’s central bank is considering how to help the country’s commercial banks with gold storage after complications with bullion exports because of the coronavirus crisis.

In Picture