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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

AngloGold CEO asked to leave after fund pressure, Bloomberg reports

31st July 2020 AngloGold Ashanti's CEO was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer that he didn’t initially disclose, according to people familiar with the matter. The mining company announced on Thursday that Kelvin Dushnisky would step... 

Gold set for best month in four years after record-breaking gain

31st July 2020 Gold is set for the biggest monthly gain in more than four years after a weaker dollar and low rates fueled its surge to a record. Silver headed for its best month since 1979. Spot bullion is up 10% in July as a gauge of the dollar slumped, prompting concerns its status as the world’s reserve... 

TC sees path for Keystone XL work despite Supreme Court ruling

30th July 2020 TC Energy is looking for a way to start construction on its long-delayed Keystone XL oil pipeline despite a recent US Supreme Court ruling that quashed its regulatory authorization to lay pipe across streams and rivers. The Canadian company plans to “pursue other permitting means to gain... 

Gold mining trio gets $3bn richer riding bullion's surge

30th July 2020 Tech and pharma may be getting the attention these days, but three mining billionaires are quietly padding their fortunes with an investment that’s decidedly more old school. Saudi Arabia’s Mohammed Al Amoudi and Russia’s Alexander Nesis and Suleiman Kerimov have the largest exposure to gold... 

ArcelorMittal sees steel market improving

30th July 2020 ArcelorMittal offered a cautiously upbeat outlook for the global steel industry, saying its core markets are showing signs of recovery from exceptionally low levels amid the coronavirus pandemic. “The first six months of the year, and particularly the second quarter, have been one of the most... 

Occidental discusses $4.5bn asset sale to Pertamina

30th July 2020 Occidental Petroleum Corp is in talks about a potential sale of energy assets in Africa and the Middle East to Indonesia’s state-owned PT Pertamina, people with knowledge of the matter said. Pertamina is negotiating the acquisition of oil and gas stakes in countries including Ghana and the United... 

The other reason silver is soaring: Disruptions in Latin America

29th July 2020 Silver’s biggest monthly rally since 1979 has mainly been a story of strong demand. Investors are seeking shelter from pandemic turmoil and negative rates while industrial demand for the metal recovers in some parts of the world. But here’s another reason to be bullish on silver: Supplies are... 

China’s iron-ore appetite pushes Indian imports to 8-year high

29th July 2020 China’s purchases of iron-ore from India rocketed to an eight-year high in the first half of 2020, fueled by supply shocks at major producers and record steel output at the world’s largest steelmaker. Shipments of the raw material from India more than doubled to 20-million tons in the six months... 

Fuel-cell firm stages comeback 20 years later with help of China

29th July 2020 Two decades ago, a burst in the dot-com bubble meant that shares of Ballard Power Systems may have been dead in the water. Now, it’s rebounding with a vengeance. After a meteoric rise that saw the hydrogen fuel-cell company’s stock surge more than 400% between late 1999 and March 2000, it... 

Rio Tinto accelerates Africa plans as iron-ore shores up profits

29th July 2020 Rio Tinto Group, the world’s second-biggest miner, is accelerating its work on potential development of the giant Simandou iron-ore project in Guinea as half-year earnings showed the steel-making ingredient dominated the producer’s profits. New studies with partners are aimed at cutting the... 

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