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Bloomberg

Alcoa cuts more aluminum output in Quebec as labour dispute bites

19th December 2018 Alcoa will further curtail production at a Canadian smelter as the biggest US aluminum producer faces a shortage of workers amid a dispute with unionised workers and the impact of US tariffs on shipments of the metal. The Pittsburgh-based company said it will curtail half of the one operating... 

AngloGold is said to weigh London listing, South Africa exit

19th December 2018 AngloGold Ashanti is considering listing its shares in either London or Toronto in a move that could see the company hive off its remaining South African operations, according to people familiar with the situation. While no final decision has been made, the world’s third-largest gold producer... 

After Europe mining stocks' humbling year, five themes for 2019

19th December 2018 It all started so well in 2018 for investors in European metal and mining stocks, but as the year closes out, the sector index is languishing about 25% below its June peak. Fractious trade-war rhetoric between Washington and Beijing, plus growing worries about the state of China’s economy undid... 

This odd couple plots to save $100bn gold mining business

18th December 2018 John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67%... 

Canada offers C$1.5bn in loans for oil-sector liquidity

18th December 2018 The Canadian government announced C$1.5-billion in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46 a barrel last month. The country’s Energy and Trade Ministers announced the aid... 

The world's most controversial coal mine is set to break ground

18th December 2018 The world’s most contentious coal project is edging closer toward development, potentially unlocking one of the biggest untapped resources even as a debate rages around the fuel’s future. Indian billionaire Gautam Adani’s Carmichael is located in Australia’s huge Galilee Basin, which covers... 

Glencore billionaire among directors banned, fined by Canada

18th December 2018 Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined. Mistakidis, who is retiring from Glencore at the end of this... 

Metal bulls cheer end to 'horrid' year; Goldman touts copper

18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

Zambia threatens to expel foreign workers over mine job cuts

17th December 2018 Zambia threatened to cancel work permits for some foreign workers at mines that it accuses of announcing job cuts to "arm-twist" the government over proposed tax changes. “They downsize the local workers, we also send back some of the foreign workers. And we decide who to send back,” Home... 

Bulls lining up for gold means now may be a good time for silver

14th December 2018 The recent bounce in gold has so far happened without a similar move in silver. That might be about to change, according to Saxo Bank A/S. Ole Hansen, head of commodity strategy at Saxo Bank, tracks the ratio of gold to silver and said the recent moves point in favor of higher silver prices. 

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