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R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51
 

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ADM has made takeover approach to Bunge – WSJ

By: Reuters     20th January 2018 Agricultural processing and trading company Archer Daniels Midland has proposed a takeover of Bunge, the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore in an industry moving towards consolidation. Bunge and other top grains... 

Gold losses in years past keep producers from buying more mines

By: Bloomberg     17th January 2018 Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut way back on mining deals – even as metal prices posted their biggest rally since 2010. The value of the industry’s transactions, from acquisitions to... 

Only four diamonds are bigger than one just found at famed mine

By: Bloomberg     16th January 2018 A small, embattled diamond miner just hit the jackpot. The 910-carat stone found by Gem Diamonds Ltd. high in the mountains of Lesotho in southern Africa is the fifth-largest in history. Here are the bigger ones: THE CULLINAN DIAMOND 

Palladium bulls rule as prices hit record on tight supply

By: Bloomberg     15th January 2018 Palladium bulls are having a party. The metal used to curb pollution from gasoline-fueled engines climbed to a record in the spot market amid signs of robust demand. In China, Honda Motor Co.’s vehicle sales climbed 16% to a record last year. General Motors Co.’s sales in the Asian nation, the... 

A new era of batteries spells trouble for gas in America

By: Bloomberg     12th January 2018 California, the state that helped birth the global boom in battery-toting electric vehicles, is trying to spark a similar transformation for utilities. And that spells trouble for power plants all across the U.S. that run on natural gas. The California Public Utilities Commission approved an... 

Growth of European gold-backed ETFs outpaces US funds in 2017 – WGC

By: Reuters     9th January 2018 European gold-backed exchange-traded funds added more than double the amount of t that North American ones did in 2017, growing their assets by 13.9%, the World Gold Council (WGC) said on Tuesday. Though North America contained more than half the amount of global exchange-traded fund holdings,... 

Gold ETF starts 2018 with record winning streak as dollar falls

By: Bloomberg     3rd January 2018 Call it a new golden age. The SPDR Gold Shares ETF (ticker GLD) kicked off 2018 with an advance of 1.2% on January 2, extending its streak of gains to 11, a record. It retreated slightly at the start of regular trading on January 3, but is still up for the year. 

South Africa's rand resumes rally as bears buy short

By: Reuters     3rd January 2018 South Africa's rand gained more than one% on Wednesday, reversing losses from earlier in the session to trade at a three-day high as investors betting on a dollar recovery bought the local currency cheap. At 15:00 GMT the rand was 0.86% firmer at 12.36 per dollar. 

Shippers benefit as China laps up Brazilian iron-ore

By: Reuters     29th December 2017 US dry bulk shippers are set to post strong revenue growth in the next two years thanks to soaring Chinese demand for high-grade iron-ore from Brazil and Australia. To combat severe winter smog, China has slashed iron-ore output, pushing steel mills in the world's second biggest economy to... 

Copper climbs to near four-year high as China halts top producer

By: Reuters     28th December 2017 Copper in London surged to the highest in almost four years after China ordered its top producer to halt output to combat winter pollution, fuelling a rally this year driven by optimism about demand and supply disruptions at mines. Jiangxi Copper was told to cut production for at least a week... 

Even with Trump minerals order, US miners seen trailing China

By: Henry Lazenby     23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... 

Trump signs order to boost US production of critical minerals

By: Bloomberg     21st December 2017 President Donald Trump signed an executive order to reduce dependency of critical minerals used in everything from batteries to phones. “The comprehensive order aims to identify new sources of critical minerals, ensure miners and producers have access to the best data, and streamline the leasing... 

Zimnisky Diamond Price Index rises as demand improves

By: Henry Lazenby     20th December 2017 The Zimnisky Global Rough Diamond Price Index has gained 2.7% up to mid-December, with polished prices are down 3.5% in the same period, diamond analyst Paul Zimnisky said in a new blog post. The reason for this, according to the New York-based analyst, is that 2017 has been a year of excess... 

Fed spells relief for gold traders worried over rate-hike pace

By: Bloomberg     14th December 2017 Spot gold headed for the biggest gain in three weeks after Federal Reserve officials stuck with a projection for three interest-rate increases in the coming year, easing concerns that quickening economic growth would spur an even faster pace of monetary tightening. By a 7-2 vote, the Fed on... 

Bitcoin contracts still pipsqueaks in world of commodity futures

By: Bloomberg     12th December 2017 The first reliable lens into tick-by-tick liquidity for bitcoin shows a financial commodity that is still a baby relative to its peers. From 6 pm Sunday to 9:30 am Monday in New York, 2 923 contracts changed hands in a total of 2 494 trades, representing an overall value of $50.2-million, data... 

Top iron-ore miner threatens to flood market if prices jump

By: Bloomberg     7th December 2017 Vale SA has a somber message for anyone betting on iron-ore prices returning to the heady days of 2011. The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 -million metric tons of spare capacity to balance the market if prices get too high, CEO Fabio... 

Newmont poised to oust Barrick as world's top gold producer

By: Bloomberg     7th December 2017 Newmont Mining’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The CEO raised his 2018 production forecast to a range of 4.9-million to 5.4-million ounces. That exceeds Barrick Gold’s 2018 guidance of 4.8-million to 5.3-million given in February, which doesn’t... 

Don't expect fireworks for gold in 2018, just a gentle nudge up

By: Bloomberg     6th December 2017 Gold has its fans for next year, but sparks are probably not going to fly. Even as the Federal Reserve tightens monetary policy and the European Central Bank tapers bond purchases, gold is set to rise marginally as real interest rates stay low and the dollar weakens, according to Bart Melek,... 

Electric vehicle revolution a rare investment opportunity as metals demand spikes

By: Henry Lazenby     1st December 2017 The rate at which global automotive markets are adopting electric vehicles (EVs) is accelerating at a much faster pace than even some of the keenest market observers estimated at the start of 2017, and is opening up once- in-a-lifetime investment opportunities among the four key ‘energy metals’ –... 

Electric vehicle revolution a rare investment opportunity as metals demand spikes

By: Henry Lazenby     1st December 2017 The rate at which global auto markets are adopting electrically powered vehicles (EVs) is accelerating at a much faster pace than even some of the keenest market observers have estimated at the start of 2017, and is opening up once-in-a-lifetime investment opportunities among the four key ‘energy... 

Goldman sees iron-ore sinking to $50/t as supply expands again

By: Bloomberg     29th November 2017 Iron-ore will weaken next year as global supplies increase including from a new mine in Brazil at the same time that steel production risks topping out in China, according to Goldman Sachs Group, which expects prices to decline back toward $50 a metric ton. Futures fell. The raw material may... 

Gold flirts with $1 300 as low inflation dents rate-hike case

By: Bloomberg     27th November 2017 Gold futures climbed above $1 300/oz for the first time in six weeks as the dollar wavered and investors braced for an onslaught of economic data and political news. Bullion rose for the third time in four days as a gauge of the dollar traded close to the lowest since September. A report later... 

BHP, Goldman hunt for energy fix amid remote banana plantations

By: Bloomberg     27th November 2017 The world’s biggest miner and Wall Street’s top-ranked merger firm are among the high-profile backers of a remote solar project nestled among banana crops in Australia’s far tropical northeast. For BHP Billiton, it’s a chance to unlock renewable technology for the global mining sector. As... 

AngloGold’s capex project progressing as planned, within budget

By: Mia Breytenbach     17th November 2017 JSE- and New York-listed AngloGold Ashanti says its high-return and low-capital projects in its international portfolio to extend mine lives and improve margins remain on track and within budget. “We expect . . . continued delivery to tight timelines and budgets on our portfolio-improvement... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Offtake partners secured for US gigafactory - Magnis

By: Esmarie Swanepoel     15th November 2017 ASX-listed Magnis Resources has reported that a binding sales agreement has been inked for 40% of the planned production from a planned lithium-ion gigafactory, in New York. Magnis is part of a global consortium which is developing a 15 GWh lithium-ion battery plant in the US. 

New Alliance to ensure responsible cobalt supply from Africa

By: Robyn Wilkinson     10th November 2017 Joining other international businesses and organisations at the inaugural World Economic Forum Sustainable Development Impact Summit, held in New York from September 18 to 19, diversified miner Eurasian Resources Group (ERG) helped launch the Global Battery Alliance. 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

Morenci mine, US

By: Sheila Barradas     3rd November 2017 A copper mine in Arizona, in the US. 

Cooke underground closes but 1 640 Beatrix jobs saved – Sibanye

By: Martin Creamer     1st November 2017 The underground mining operations at the Cooke 1, 2 and 3 gold mining shafts on the West Rand have been placed on care and maintenance resulting in the retrenchment of 2 025 employees, in addition to the 1 350 who took voluntary separation packages, precious metals mining company... 

Palladium surge felt on Chicago streets as thieves plunder cars

By: Bloomberg     27th October 2017 Investors aren’t the only ones who have noticed palladium’s surge this year. To appreciate the impact of the recent jump in prices, one need look no further than the streets of Chicago. A police locale put out a bulletin on October 23 alerting residents to thefts of catalytic converters, vehicle... 

Third-quarter Sibanye-Stillwater operating profit up 41%

By: Martin Creamer     26th October 2017 The group operating profit of Sibanye-Stillwater in the three months to the end of September was 41% higher than last year’s third quarter and 5% up year-on-year. The Johannesburg- and New York-listed precious metals mining company, headed by CEO Neal Froneman, on Thursday reported group... 

One rare thing to watch for in US coal earnings: A profit

By: Bloomberg     24th October 2017 After years of bleeding cash and a painful string of bankruptcies, US coal miners are poised to do something rare – enjoy an earnings season. Boosted by higher global coal prices and a more conservative approach to mining, Peabody Energy kicks off the industry’s reporting cycle Wednesday and is... 

Arconic sinks on earnings miss; appoints former GE boss as CEO

By: Henry Lazenby     23rd October 2017 The New York-listed equity of alloy metals specialist Arconic dipped on Monday after the company reported disappointing third-quarter results. The New York-headquartered company revealed a headline profit of $132-million, or $0.25 a share, compared with $137-million in the comparable quarter of... 

Softening demand, unrelenting supply key causes of platinum price weakness

By: Ilan Solomons     20th October 2017 The weakness in platinum prices has been driven primarily by softening fabrication demand fundamentals and a lack of commensurate reductions in supply to offset those weaker demand fundamentals, states New York-based research and consulting firm CPM Group. The company notes that one of the... 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

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