(Bloomberg) - Anil Agarwal hired AngloGold Ashanti Ltd.'s Srinivasan Venkatakrishnan to run his Vedanta Resources Plc in a move that may hint at the Indian billionaire's plans for his global commodity portfolio.Venkatakrishnan, 53, has been CEO of Johannesburg-based AngloGold for five years and spent much of his career working in Africa. That's a first for a Vedanta CEO and points to the growing...Read More
BAKU, April 16 (Reuters) - Azerbaijan's top gold producer, Anglo Asian Mining, said on Monday it had increased its gold production by 49 percent year-on-year in the first quarter of 2018 to 16,479 ounces from 11,078 ounces in the same period last year.The London-listed firm said its total production of gold-equvivalent ounces (GEO) rose by 26 percent to 18,307 GEO from 14,577 GEO.The company said...Read More
Investing.com - Concerns over geopolitical tensions and an ongoing trade spat between China and the U.S. may support safe haven demand for gold this week but the precious metal will remain vulnerable to any gains in the dollar in the face of expectations for higher U.S. interest rates.Gold futures for June delivery settled up 0.44% at $1,347.80 on the Comex division of the New York Mercantile Exch...Read More
He has spent 18 years at the company, first as CFO and then as CEO in the past five years, and will leave at the end of August.Prior to his stint at AngloGold, Venkat was CFO of Ashanti Goldfields. At Vedanta, he will succeed the interim CEO Kuldip Kaura, who took over when previous CEO Tom Albanese stepped down at the end of August last year.AngloGold noted under Venkat's lead...Read More
Last year the company said it was targeting 33-41Mt at 0.13-0.17% cobalt and 0.45-0.65% copper from an 11km zone.Read More
The same hole hit a further 145.5m at 1.11% CuEq from 288m that remained open at depth. Another drill hole intercepted 31.37m at 2.03% CuEq from 99m, where the hole entered Regulus ground. The company has an 18,000m drilling programme underway, in collaboration with neighbouring gold miner Compañía Minera Coimolache SA, and is aiming to provide a "robust updated resource" b...Read More
On production of just under 80,000 ounces of gold in 2017, Shanta brought in EBITDA of US$37.7 million (a 24.5% drop on 2016) and an after tax profit of $4.2 million (compared to an $8 million loss in 2016).Read More
SHANGHAI, Apr 16 (SMM) – Nonferrous metals futures rose across the board on Monday April 16, as SHFE nickel led the gains with a rise of nearly 1.7%. Aluminium and zinc rose close to 1%, tin gained over 0.7% while lead and copper inched up.Most ferrous metals closed lower except for coke. Iron ore dipped nearly 2.6%, coking coal dropped close to 2.5%, rebar fell almost 2%, and hot-rolle...Read More
SHANGHAI, Apr 16 (SMM) – China's imports of unwrought copper and copper products in March grew 22% month on month and stood at 439,000 mt, according to data from China Customs. Imports for March also inched up 2.1% year on year.In the first quarter of the year, China imported 1.23 million mt of unwrought copper and copper products, up 7.3% from the same period last year.SMM believed...Read More
The rebel group includes Francis Dubé, an optometrist and chairman of a cannabis producer, Eric Wallman and Brian Bosse.Read More
BlackRock entered the register via a A$6 million institutional placement completed this week, managed by London's Tamesis Partners.Read More
SHANGHAI, Apr 16 (SMM) – In an emergency response to the heavily-polluted weather in the Beijing, Tianjin and Hebei area this week, Tangshan city has initiated measures to cut emissions from 20:00 on Sunday April 16, SMM learned.On top of current non-heating season cutbacks, a further cut of 50%in output was imposed on sintering machines. Coke ovens were required to prolong co...Read More
SHANGHAI, Apr 16 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendDespite airstrikes in Syria by the US, UK and France, the US dollar index edged up slightly and closed at 89.78 on Friday April 13 as trade tension eased and the Federal Reserve Board’s March meeting took a aggressive stance.Most base metals rose but saw...Read More
SHANGHAI, Apr 16 (SMM) – Operating rates at Chinese copper rod producers jumped to 79.4% in March, up 10.05 percentage points year on year and 31.73 percentage points on the month, as orders improved from the electric wire and cable industry, according to an SMM survey.In April, operating rates are expected to further increase to 80.9% as producers reported brisk orders during the high seaso...Read More
SHANGHAI, Apr 16 (SMM) –Copper: LME copper rose and hit the five-day moving average but faced pressure at the 10-day moving average, as KDJ indicator extended downwards last Friday night. The SHFE 1806 contract mostly traded below all moving averages, and touched the joint of five- 10-, and 20- day moving averages with apparent pressure. The copper market was generally sluggish given un...Read More
In a statement sent late Friday in response to emailed questions, Rio said the force majeure declared on April 5 was ongoing, as it was still assessing the impact on RBM's production and sales delivery.Read More
There are few enough examples of more sustainable and lower-opex renewable installations for them to be news, like the new solar array part-powering IAMGold's Essakane mine in Burkina Faso, the 10 megawatt peak solar and lithium-battery system at Sandfire Resources' DeGrussa mine in Western Australia, or the wind and hydrogen fuel cell storage setup Glencore's at Raglan mine in Quebec.Read More
Federal judge Sebasti??n Casanello prosecuted Sergio Lorusso, Argentina's former Secretary of Environment, and Jorge Mayoral, former Secretary of Mines.The officials are accused of abuse of power in the case of the 2015 cyanide spill at Barrick Gold's (TSX, NYSE:ABX) Veladero mine, the first of three similar incidents registered at the operation between 2015 and 2017.According to Casanello's decis...Read More
* Global stocks gauge set for largest weekly gain in five* Aluminum hits 6-yr high; USD jumps to 6-week high vs. yen* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates prices, adds oil price settlements)By Rodrigo CamposNEW YORK, April 13 (Reuters) - A gauge of stocks across the world eased on Friday but was on track to end the week with its strongest performance in five, while oil...Read More