Sydney, April 10, 2017 - (NYSE:GE) South32 and GE today announced the signing of a three-year strategic partnership to assist in the development of South32's technology roadmap and activation of the Company's digital transformation.The partnership, GE's first with an Australian mining company in the digital space, is a step towards playing a much bigger role in the global mining sector. For South3...Read More
Lead's rally from multi-year lows hit November 2015 were on the back of major zinc-lead mine shutdowns and strong demand from the automotive sector, responsible for the bulk of demand.A new report from BMI Research says positives for the market will largely stay in place leading to a widening albeit relatively small market deficit through 2021.BMI, a unit of rating agency Fitch, forecasts the lead...Read More
Water supply concerns and pollution in Latin America will drive increasingly strict environmental regulations in the region over the coming years, which in turn will also make miners' life more difficult, a report by BMI Research shows.According to the analysts, in addition to raising costs for mining companies and delaying certain projects, the focus on the amount of water used by the extraction...Read More
BHP Billiton (ASX: BHP) (LON:BLT) is working with Goldman Sachs Group Inc. on a detailed response to activist investor Elliott Management, which yesterday issued a 10-page letter calling for major changes at the world's largest mining company.The bank's involvement in the issue is nothing new, people with knowledge of the matter told Bloomberg. In fact, they said Goldman has been assisting BHP fr...Read More
Investing.com - Gold prices rose in European trade on Tuesday as rising political tension over North Korea and Syria supported demand for the safe-haven metal.On the Comex division of the New York Mercantile Exchange, gold for June delivery gained 0.39% to $1.258.85 a troy ounce.U.S. Secretary of State Rex Tillerson is currently at the G7 Foreign Affair Ministers meeting in Italy where political l...Read More
BHP Billiton (ASX: BHP) (LON:BLT), the world's largest mining company, has rejected a push by activist investor Elliott Management to unlock shareholder value by spinning off about $22 billion of its US oil assets and list them in New York.The hedge fund manager's demerger proposal, BHP said in a statement, included the suggestion of unifying the miner's dual structure into a single Australia-hea...Read More
Investing.com - Gold prices retreated from five-month highs on Friday as the stronger dollar weighed on the precious metal.Gold for June delivery settled up 0.21% at $1,255.95 on the Comex division of the New York Mercantile Exchange, having touched highs of $1,272.85 earlier.Prices surged early Friday after the U.S. launched cruise missile strikes on a Syrian air base in the aftermath of suspecte...Read More
Preliminary production by the top 10 copper mining companies compiled by IntelligenceMine totalled 9,448 kilotonnes of copper in 2016. That represents a 4% increase compared to 2015 and makes up ~49% of global copper production that reached 19,400 kt last year.Six out of 10 companies increased their copper output while four of them declined. All companies in the Top 10 that disclose production cos...Read More
Investing.com - Gold prices climbed to five-month highs on Friday, as news of U.S. airstrikes against Syria boosted demand for safe-haven assets.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.89% at a five-month high of $1,264.55.The June contract ended Thursday's session 0.38% higher at $1,253.30 an ounce.Futures were likely to find support at...Read More
As the debate rages on and on and on concerning the global economic expansion (U.S.)/recovery (Eurozone)/Ponzi (China/U.K.), I am beginning to feel like a tennis ball in the heated heart of the 1981 McEnroe/Borg Wimbledon final being batted back and forth over the proverbial "Net" of Indecision, Confusion and Fear.The greatest phrase ever concocted that is applicable to the world of trading and in...Read More
Rio Tinto (ASX, LON:RIO), the world's second-biggest miner by market value, will fight a A$447 million tax bill it received from the Australian government Wednesday, adding that the new assessment is not related to any tax avoidance scheme.The amount is linked to what is known as "transfer pricing" between Rio Tinto's Australian operations and its Singapore office.The amount, consisting of A$379 m...Read More
Corporate financing deals in mining, real estate and other major industries in B.C. were down last year compared with 2015.In 2016, the largest corporate financing deals involving debt, bond and stock raised $2 billion less than in 2015. Total financing from the largest deals fell 14%.Mining was less predominant in 2016 on Business in Vancouver's Top 100 Corporate Finance Deals list. Money raised...Read More
Canada's Erdene Resource Development (TSX:ERD), the company that literally struck gold earlier this year after finding its new Mongolia-based gold project was richer than previously thought, expects to move Bayan Khundii towards its maiden resource estimate by 2018.The firm, one of the very few miners to never have encountered issues in the landlocked Asian country, was granted this week the Ex...Read More
Canada's Barrick Gold's (TSX, NYSE:ABX), the world's No.1 producer of the precious metal by value, has confirmed it's selling a 50% stake in its Veladero mine in Argentina to Shandong Gold Group in a transaction worth $960 million.As part of the deal, which makes the two firm strategic partners, the Shandong province-based gold miner will help Barrick move forward with the long delayed Pascua-La...Read More
Occupational health and safety violations are a widespread issue in the informal mining sector, which sees artisanal miners and surrounding communities regularly exposed to hazards, including mine cave-ins and the spread of diseases such as malaria. (Image by Fairphone | Flickr Commons)The risk of human rights tainted tungsten, tin, tantalum and gold (3TG) entering the supply chains of tech firms...Read More
Investing.com - Gold prices edged higher in European trading on Thursday, bouncing back from the prior session's losses as investors shied away from riskier assets ahead of an upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping.Comex gold futures tacked on $6.85, or around 0.6%, to $1,255.35 a troy ounce by 3:13AM ET (07:13GMT). Meanwhile, spot gold was down $2.20...Read More
Description This Macroeconomics and Global Trends Insight report presents our research on this key topic, and draws out the implications for economies and commodity markets. This report delivers a clear understanding of our unique global economic outlook and identify risks and uncertainties to watch out for. Wood Mackenzie's global trends and macroeconomic analysis underpins all our commodity dem...Read More
A historically long 43-day strike at BHP Billiton's (ASX, NYSE:BHP) (LON:BLT) Escondida copper mine in Chile, the world's largest, will have less of an impact in the country's overall annual production that originally though, experts say.While the country's central bank said on Monday that the stoppage would knock an entire percentage point off GDP growth in the first quarter, analysts at BMI Rese...Read More
* Trump-Xi begin two-day summit on Thursday* Trade, North Korea top the agenda* Oil price rebounds, boosts inflation outlook* Fed minutes, U.S. ADP jobs data awaited* South African rand resumes weaknessBy Vikram SubhedarLONDON, April 5 (Reuters) - Caution prevailed across major markets on Wednesday before a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart X...Read More
Investing.com - Here are the top five things you need to know in financial markets on Wednesday, April 5:1. Global stocks trade tentatively ahead of Trump-Xi meetingU.S. stock futures pointed to a flat to lower open on Wednesday morning as investors remained cautious before the summit meeting between U.S. President Donald Trump and Chinese leader Xi Jinping on Thursday.The blue-chip Dow futures wa...Read More