R/€ = 15.66 Change: -0.01
R/$ = 13.90 Change: 0.00
Au 1415.70 $/oz Change: 0.29
Pt 840.81 $/oz Change: 1.92


Diamonds are Putin’s best bet to entice wary investors to Russia

15th June 2016 President Vladimir Putin is trying to woo foreign investors into the battered Russian economy by offering a chunk of the world’s biggest miner of diamonds. Russia needs cash to help fill a hole in its budget, the result of a collapse in revenue from plunging oil prices 

Rio Tinto to buy back $1.7bn of 2018 bonds to reduce debt

15th June 2016 Rio Tinto Group will repurchase about $1.7-billion of bonds, its second buyback in about two months, as it seeks to cut debt. The world’s second-largest mining company is buying back $943-million of 6.5% notes due in July 2018 and $804-million of 2.25 percent securities maturing in December the... 

Coal firm to pay Obama mentor $435 000 to fight climate plan

14th June 2016 Peabody Energy Corp. is set to pay President Barack Obama’s Harvard Law School mentor $435 000 this year to help the bankrupt coal producer challenge the administration’s signature environmental law. The payments to Laurence Tribe, a constitutional law expert and legal icon – spanning May to... 

Turquoise Hill climbs on speculation Rio may take it private

14th June 2016 Turquoise Hill Resources Ltd. soared amid speculation that its controlling shareholder  Rio Tinto Group is preparing for a commodity-price recovery by increasing its stake in the company. Rio Tinto has hired Goldman Sachs Group Inc. to advise it as the world’s second-largest miner looks into the... 

Miners cut distressed debt pool by $60bn as rebound firms

13th June 2016 Mining companies are getting back into financial shape and have cut the sector’s pool of distressed bonds by at least $60-billion, providing another boost to the industry’s outlook as commodities enter a bull market. Anglo American and Glencore are among companies whose notes no longer feature... 

Oil Search bets on overcoming price rout in Papua New Guinea

10th June 2016 Oil Search, the energy producer that agreed to acquire fellow Papua New Guinea explorer InterOil for $2.2-billion, is betting it can overcome a languishing liquefied natural gas market to deliver another export project by beating rivals on costs. The company expects its deal last month to buy up... 

Glencore’s Kazakh mine sale said to attract Shandong, Zhongjin

9th June 2016 Chinese gold producers Shandong Gold Mining Co. and Zhongjin Gold Corp. are among potential bidders for Glencore’s gold mine in Kazakhstan, according to people familiar with the matter. Glencore may be seeking about $2-billion for the asset, the people said, asking not to be named because the... 

Death, strikes, rising costs show mining’s hard sell for new CEO

9th June 2016 Wanted: Mining executive who can make money when prices and output fall, will halt skyrocketing costs, and is willing to accept a salary paid in one of the world’s weakest currencies. That’s the potential job description for whoever replaces Terence Goodlace as chief executive officer at... 

Miners starved of M&A set to see deals revive following cutbacks

9th June 2016 The metals and mining world might be about to see a resurgence in deal-making. Mergers and acquisitions in the sector reached a decade-low last year, accounting for 3% of transactions across all industries, Macquarie Group said. As long as commodities don’t plunge, weaker prices in the second... 

Fortescue sees next wave of growth forming to support ore demand

8th June 2016 Fortescue Metals Group, the world’s fourth-largest iron-ore exporter, is starting to see signs of the next wave of global economic growth that may help support demand for the steelmaking ingredient. “I have just come back from a major trip through Europe and North America and Asia and I’m not... 


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