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Bloomberg

Goldman takes hatchet to near-term metals outlook as China sours

7th January 2019 Goldman Sachs Group chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum. The bank – which had... 

Barrick's new CEO says gold industry shake-up is just starting

4th January 2019 Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4-billion deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow,... 

Apollo Global is said to aim for Arconic deal by mid-January

3rd January 2019 Apollo Global Management LLC is in talks to buy Arconic Inc. for about $22 a share in a deal that could be reached by mid-January, according to people familiar with the matter. The private equity firm and aerospace manufacturer are negotiating a transaction that would protect Apollo from... 

Gold opens 2019 with fanfare amid growth concerns as copper sags

3rd January 2019 Gold futures rose, extending their best quarterly rally in more than a year as concern over China’s economic outlook weighed on global equities and industrial metals. Bullion hit a six-month high, nearing $1 300 an ounce, after a report showing a contraction in China manufacturing renewed wild... 

Blast kills 13 people in deadliest Czech mine tragedy since '90

21st December 2018 A blast at a Czech coal shaft killed 13 people, making it the country’s deadliest mining disaster in almost three decades. The workers at the CSM mine in the east of the country, 12 of them from neighboring Poland, died after methane exploded about 880 m underground on Thursday night, said Ivo... 

Copper clashes at world's largest pit signal trouble ahead

21st December 2018 The world’s biggest copper maker is pushing to modernise one of its oldest mines. With the plans spurring a quickening series of worker protests and disruptions, it’s becoming clear that technical challenges won’t be the only hurdle. Codelco is in the last stages of a $5.5-billion project to... 

Indian billionaire's Australian mine plans face further delay

21st December 2018 Gautam Adani’s long quest to build a coal mine in the Australian outback faces another setback, with the Queensland state government refusing to sign off on the company’s plans before further studies into the project’s environmental impact are complete. “Two plans are yet to be approved before... 

Australia flags A$122bn rebound for commodities projects

21st December 2018 Stronger prices, a brighter longer-term demand outlook and the rise of battery metals are laying the ground for a potential revival in mining and energy projects in Australia, according to the world’s top exporter of iron ore, alumina and coking coal. The value of so-called committed projects –... 

Australia warns of 'double whammy' risks to commodities outlook

21st December 2018 Commodities are at risk from a “double whammy” of rising trade tensions and a substantial slowdown in global growth, the Australian government warned, as increasing uncertainty threatens to hinder record exports from the raw materials powerhouse. While Australia’s resources and energy shipments... 

Trump poised to lift Rusal sanctions as Deripaska cuts stake

20th December 2018 The Trump administration is ready to remove sanctions on Russian billionaire Oleg Deripaska’s aluminum company, United Co. Rusal, after reaching an agreement to significantly reduce his ownership stake. Deripaska will remain under US sanctions and his property will remain blocked, but Treasury... 

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