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Bloomberg

‘Bubble’ warning sounds over 2019’s hottest commodity

26th February 2019 Palladium’s deficit-driven ascent has some analysts warning of the growing potential for a correction given the rapid sprint upward. The silvery-white metal used to control harmful emissions in gasoline-fueled cars surged 40% in four months, hitting repeated records, as a supply deficit deepens... 

Michael Klein strikes gold from Canada to Saudi Arabia

26th February 2019 From breaking into an elite cabal of Saudi Arabian advisers, to being called to work on what could be one of the largest-ever mining takeovers, Michael Klein is making his mark as one of the world’s top dealmakers. The former star Citigroup investment banker is advising Barrick Gold on its... 

Barrick CEO says he'll run Newmont's mines better than they can

25th February 2019 Barrick Gold’s new CEO wasted no time telling Newmont Mining shareholders that he can do a better job. The two companies are trading barbs after Barrick launched a hostile bid for Newmont, which would disrupt a previously announced deal for Goldcorp Inc. Barrick has long wanted to combine its... 

Steinmetz stages Guinea comeback in Sarkozy-brokered deal

25th February 2019 Israeli mining tycoon Beny Steinmetz is making a dramatic return to Guinea after the billionaire ended a bitter dispute with the West African country that brought his business empire to its knees. The settlement, brokered by former French President Nicolas Sarkozy, ends a seven-year-old dispute... 

Too much zinc has miners begging for smelters as new mines open

25th February 2019 A likely rebound in the amount of raw zinc produced this year could have miners "begging smelters” to refine the metal used to galvanize steel, potentially boosting their fees to the highest in two years. Supplies of the refined metal have been tight following smelter disruptions in China. This... 

Newmont CEO calls Barrick move 'desperate' as miner summit looms

25th February 2019 The CEO of Newmont Mining labeled a potential takeover attempt by rival gold miner Barrick Gold as a “desperate” and “bizarre” move aimed at complicating his company’s pending deal to acquire Goldcorp. In his first interview since Barrick confirmed Friday it has considered a bid for Newmont,... 

Barrick's Thornton puts Newmont in check in gold takeover game

22nd February 2019 John Thornton, an ex-investment banker at the center of a wave of consolidation in the gold space, has just put his largest rival on the defensive. Thornton is executive chairman at Barrick Gold Corp, the world’s second-largest gold producer. On Friday, Barrick confirmed it is considering... 

Barrick confirms it has studied offer for Newmont

22nd February 2019 Barrick Gold, the world’s second-largest gold producer, confirmed it has considered a bid for Newmont Mining Corp. as the Canadian mining giant looks for ways to boost production. Barrick has reviewed the opportunity to merge with Newmont in an “all-share nil premium transaction,” but no... 

Chile squeezing water rights for copper, lithium miners in north

21st February 2019 In a belated response to falling fresh-water levels in desert areas, Chile is moving to protect a natural resource that has been depleted after decades of mining activity. With complaints from local communities rising and the effects of climate change worsening, the world’s largest copper... 

Is Anglo finally getting ready to join mining's buyback club?

21st February 2019 Anglo American remains the only giant miner not buying back shares, but that doesn’t mean it’s not thinking about it. The world’s biggest producers, shunning growth and reluctant to launch a major new deal spree, have been handing record amounts of money back to shareholders in the recent years.... 

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