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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.

Biden to bar Keystone pipeline in reversal of early Trump move

20th January 2021 Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump. In one of his first major environmental actions, Biden will revoke TC... 

South African mining dealmaker plots M&A push before retirement

19th January 2021 South African mining dealmaker Neal Froneman is considering retiring in two to three years time, but would first like to double the size of Sibanye-Stillwater. Froneman built Johannesburg-based Sibanye into a company with a market value of more than R182-billion ($11.9-billion) by buying gold,... 

De Beers raises diamond prices most in years

19th January 2021 De Beers implemented its biggest price increase for diamonds in years as the industry starts bouncing back from the pandemic-induced shutdown. The world’s biggest diamond producer raised prices by about 5% at its first sale of the year, according to people familiar with the situation who asked... 

Keystone XL may be sold for scrap if Biden moves to kill project

19th January 2021 The Canadian province that invested $1.1-billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds. “If the project ends, there would be assets that could be sold, such as enormous quantities of pipe,”... 

World’s biggest platinum miner makes another bold call on prices

15th January 2021 The world’s No. 1 platinum miner said the price of the metal could climb more than 80% over the next four to five years as the global economy recovers and supply dwindles. That forecast comes as demand for platinum-group metals has already rebounded to pre-pandemic levels, Sibanye Stillwater CEO... 

China may allow imports of some stranded Australian coal cargoes

15th January 2021 China is considering accepting some stranded Australian coal cargoes, an effort that would help ease a logjam of vessels that have stacked up off its coast for months. The shipments that could be cleared are those that arrived before a ban on Australian coal went into effect, said a person... 

Metals behind EV revolution to resume volatile rally - again

15th January 2021 Battery metals are set to rebound this year as an electric-vehicle boom is bolstered by post-pandemic push for a green economic recovery. US President-elect Joe Biden has indicated the sector could get a boost, while China wants new energy vehicles to account for about 20% of total new car sales... 

Elite diamond-buying club shrinks as De Beers culls old clients

14th January 2021 De Beers has cut off some of its long-term diamond buyers, marking one of the biggest shakeups in the way the miner sells gems since the end of its monopoly 20 years ago. De Beers staff spent Wednesday calling its 80-odd handpicked customers, with some told they will be losing their seat at the... 

KAZ investor pushes board to scrap $2.4bn buyout

14th January 2021 One of KAZ Minerals’ top investors is pushing its board to scrap a proposed £1.8-billion buyout from the Kazakh copper miner’s chairman. The deal process should be terminated, as it’s “inconceivable” that minority investors will accept the offer of 640p per share, RWC Partners wrote in a letter... 

The UAE warns US shale companies against pumping more oil

13th January 2021 Any attempt by US shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged in the past two months with the development of coronavirus vaccines. They jumped again last week... 

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