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Bloomberg

For first time ever, renewables surpass coal in US power mix

26th June 2019 For the clearest sign yet that renewable energy has gone mainstream, consider this: Clean energy resources supplied more of America’s electricity than coal for the first time ever in April. Hydropower dams, solar panels and wind turbines generated almost 68.5-million megawatt-hours of power in... 

Massive solar-storage project is planned for the Nevada desert

26th June 2019 NV Energy, the Nevada utility owned by Warren Buffett’s Berkshire Hathaway, agreed to buy power from three massive solar farms equipped with big batteries in the Nevada desert. The projects mark one of the the biggest expansions of solar and storage ever proposed in the US Combined, they’ll... 

South Africa working on new oil, gas policy to enable growth

26th June 2019 South Africa is working on a policy to govern the development of oil and gas resources after calls by potential investors to shield the industry from a long-running debate over laws that apply to mining exploration. The finalising of oil legislation has become more urgent since Total announced... 

Rio Tinto removed from Norway blacklist after selling polluting mine

25th June 2019 Norway’s $1-trillion wealth fund has removed Rio Tinto from its investing blacklist after the world’s second-biggest miner sold out of the controversial Grasberg mine in Indonesia. Norway has refused to buy Rio Tinto stock for more than a decade because of the environmental damage caused by one... 

Glencore cuts out agents and dealmakers as scrutiny grows

25th June 2019 Glencore is cutting out many of its intermediaries – the agents and dealmakers once essential to cracking the toughest markets – amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading... 

Oil steadies as Iran tensions mingle with economic concerns

25th June 2019 Oil steadied after rallying almost 8% in three days as investors weighed the risks of a supply disruption in the Middle East against concerns over the global economy and demand. Futures were little changed near $58/bl in New York. President Donald Trump imposed sanctions on Iran’s supreme leader,... 

Strike at top copper miner seen wiping 10 000 t from market

25th June 2019 A strike at a major copper mine in the world’s largest producer of the metal risks wiping out 10 000 metric tons from a market that’s already expected to end the year in deficit, according to an industry consultant. The stoppage at the Chuquicamata mine in northern Chile could cost No. 1 global... 

Gold’s rally gains more momentum

24th June 2019 The gold rally is gaining steam. As prices climbed above Friday’s high of $1 415.40, bulls came charging in. Futures contracts equal to more than one-million ounces of gold traded in the five minutes ended 11:20 a.m. on the Comex in New York, extending the metal’s rally to the highest in almost... 

Fosun mulls takeover of $1bn Russian miner GV Gold

24th June 2019 A consortium led by Fosun International is in talks to acquire a majority stake in GV Gold, a Russian gold miner backed by BlackRock, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry for a joint offer, the people said,... 

Bavaria seeks fast-track German coal exit in snub to Merkel plan

24th June 2019 Bavaria, Germany’s industrial powerhouse, wants the nation to stop burning coal by 2030, eight years before Chancellor Angela Merkel’s deadline. Germany’s plan to exit the fossil fuel is unrealistic and won’t work unless a more aggressive target is set, Bavaria’s Prime Minister Markus Soeder... 

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