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Bloomberg

China marks cobalt, copper ascendancy in Congo with new group

19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Cobalt stocks in China set for new surge as EV boom rolls on

19th June 2018 A slump in cobalt prices and the shares of Chinese refiners may provide an ideal bargain-hunting opportunity for investors seeking a piece of the action as Asia’s top economy leads a global boom in electric vehicles. Cobalt sulfate, a chemical used in batteries, has dropped more than 20% since... 

India is said to plan to sell a stake in State-run coal miner

18th June 2018 Prime Minister Narendra Modi’s administration is planning to offload a stake in State-run Coal India to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset... 

The Israeli billionaire forcing Glencore to buck US sanctions

16th June 2018 Not many billion-dollar companies would be willing to circumvent US sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade US sanctions to keep paying... 

China's taxing America's coal just as it was looking to buy more

16th June 2018 Forgive US coal miners for feeling a bit of whiplash over China’s trade policies. Just two weeks ago, the Chinese government was said to be considering buying more American coal as part of an effort to narrow its trade deficit with the US. Now, in retaliation for President Donald Trump’s duties... 

Hedge funds pick the wrong time to go big on gold as prices drop

16th June 2018 Hedge funds just mistimed their gold bets. Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as... 

Big metal is conspicuously tight-lipped on US-China rift

16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

Samarco is said to be nearing settlement with Brazil prosecutors

15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

Gecamines says Glencore deal to yield billions for Congo State

15th June 2018 A settlement between a Glencore unit and Democratic Republic of Congo’s State-owned Gecamines will contribute-billions of dollars of revenue to the government over the next decade, an official said. Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper, which... 

World's largest gold ETF is getting a cheaper little brother

14th June 2018 The price of gold is falling, at least for investors in exchange-traded funds. The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the US, including... 

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