Brazil's Vale (NYSE:VALE) is said to be looking for a buyer for its four fertilizer plants, located in the southeastern city of Cubat??o, which were not included in a $2.5 billion deal inked last year with US-based Mosaic Co, the No.1 producer of phosphate fertilizer.The assets include four plants producing phosphate-based, ammonia and nitrogen byproducts.The reworked plan follows a decision by No...Read More
A new report by SNL Metals and Mining on exploration spending by the largest mining companies, documents the shifting sands in the mining industry last year as the sector began to turn around.SNL, part of S&P Global, notes that larger players allocated a total of nearly $2.2 billion for non-ferrous exploration during the year. Companies with the 20 largest exploration budgets in 2016 accounted for...Read More
Canada's largest diversified miner Teck Resources (TSX: TCK.A, TCK.B) (NYSE:TCK) reported Wednesday a net profit of $697 million for the fourth quarter of 2016, a welcomed turnaround from the year-ago loss, when it recorded one-time charges of C$536 million.The miner benefitted from higher coking coal prices, which climbed 155.5% to $207 in the quarter.The Vancouver-based company, North Ameri...Read More
Shares in Canadian miner Northern Dynasty Minerals (TSX:NDM) fell Tuesday as much as 40% in Toronto after a short-seller's report said its Pebble copper-gold project in Alaska was "worthless."While the Vancouver-based miner said the report from Kerrisdale Capital of New York was full of inaccuracies, the stock barely recovered, closing 22% down at Cdn$3.25and it was still suffering Wednesday morn...Read More
* Yellen warns of waiting too long to raise rates* Record-setting Wall Street sets tone* Dollar on its best run since May 2012By Jamie McGeeverLONDON, Feb 15 (Reuters) - World stocks hit 21-month peaks on Wednesday and the dollar rose for the 11th straight day, after Federal Reserve Chair Janet Yellen flagged a possible interest rate rise next month during upbeat comments on the U.S. economy.The d...Read More
Investing.com - Gold prices were little changed in European morning trade on Wednesday, as investors looked ahead to a batch of U.S. economic data and more comments from Federal Reserve Chair Janet Yellen for further clues on the pace of the central bank's interest rate increases.Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up $1.65, or about 0.2%, to $1...Read More
(Adds companies items)Feb 15 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 26 points at 7294 on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.35 percent ahead of the cash market open.* The blue chip FTSE 100 .FTSE index ended slightly lower on Tuesday at 7,268.56, pausing after a five-day winning streak as Rolls-Royce RR.L tumbled after reporting a record lo...Read More
Feb 15 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 26 points at 7294 on Wednesday, according to financial bookmakers.* The blue chip FTSE 100 .FTSE index ended slightly lower on Tuesday at 7,268.56, pausing after a five-day winning streak as Rolls-Royce RR.L tumbled after reporting a record loss. IAG: British Airways ICAG.L cabin crew members working for the carrier's mixed fleet...Read More
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.FUNDAMENTALS* Malaysian palm oil futures came off near three-month lows to trade higher on Tuesday evening on concerns about a decline in February production, traders say. POI/* U.S. soybean futures fell to a six-day low on Tuesday, pressured by the rapidly advancing harvest of a record crop in...Read More
Description This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved. For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making. Our analysts are based in the markets they analyse and work with...Read More
About 2,500 striking workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper operation, have agreed to let the government mediate in the conflict between them and the company.There are not guarantees the dialogue will resume, however, as a BHP spokeswoman said Tuesday the while the company had received the government's invitation to attend a three-part meeting, it was still...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were down 1% in pre-market trading Tuesday on the company's decision to halt operations at its Grasberg mine in Indonesia.The firm's local unit, which has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12, also said Tuesday it has begun send...Read More
* European stock market mostly flat, US futures dip* Some caution before Fed's Yellen testimony on policy* China inflation picks up* Dollar pressured after Trump's national security aide quits* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVh (Updates prices, adds UK data)By Dhara RanasingheLONDON, Feb 14 (Reuters) - Stocks flatlined and the dollar dipped on Tuesday as caution set in befor...Read More
* European stock markets open flat* Some caution ahead of Fed's Yellen testimony on policy* China inflation picks up* Dollar pressured after Trump's national security aide quits* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Dhara RanasingheLONDON, Feb 14 (Reuters) - Stocks flatlined and the dollar dipped on Tuesday as caution set in before testimony from Federal Reserve chief Janet Y...Read More
Feb 14 (Reuters) - Vedanta Ltd VDAN.NS* Dec quarter consol net profit 18.66 billion rupees* Consensus forecast for Dec quarter consol net profit was 19.38 billion rupees* Dec quarter consol total income from operations 203.93 billion rupees* Consol net profit in dec quarter last year was 4.12 billion rupees as per ind-as; consol total income from operations was 157.31 billion rupees* Says in Dec q...Read More
Investing.com - Gold prices were slightly higher in European morning trade on Tuesday, as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen for clues to the pace of the central bank's interest rate increases.Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up $2.55, or about 0.2%, to $1,228.35 a troy ounce by 3:15AM ET (08:15GMT...Read More
(Adds futures, companies items)Feb 14 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 3.9 points on Tuesday according to financial spreadbetters, with futures FFIc1 down 0.2 percent ahead of the cash market open.* The blue-chip FTSE 100 index .FTSE ended 0.3 percent higher on Monday, at 7,278.92 points after hitting an intra-day high of 7,298.47, the highest level since mid-January...Read More
Feb 14 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 3.9 points on Tuesday according to financial spreadbetters.* The blue-chip FTSE 100 index .FTSE ended 0.3 percent higher on Monday, at 7,278.92 points after hitting an intra-day high of 7,298.47, the highest level since mid-January, as a sharp rally in basic resources stocks on the back of stronger metals prices supported the b...Read More
By Emily ChowKUALA LUMPUR, Feb 14 (Reuters) - Already under fire for widespread environmental damage, Malaysia's once lucrative bauxite mining industry is facing a likely death knell from neighbouring Indonesia's move to allow a resumption of exports.This time last year, Malaysia was the world's biggest supplier of the aluminium-making raw material to top buyer China, but its exports tumbled after...Read More
(Adds TUI, Glencore , Grupo Seb do Brasil, Allergan, Delta Air, Stada, Onexim, Heineken ; Updates PPC, Dalian Wanda, Lundin)Feb 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:** Travel group TUI TUIT.L said it had agreed to sell its specialist holiday arm Travelopia to KKR KKR.N at an enterprise value of 325 million pounds ($407 million...Read More