China’s staggering demand for commodities

Story by Jeff Desjardins Courtesy of: Visual Capitalist China’s staggering demand for commodities >50% of all steel, cement, nickel, and copper goes there The Chart of the Week is a weekly Visual Capitalist feature on Fridays. It’s said that in China, a new skyscraper is built every five days. China is building often, and they are building[…]

Coal India output, sales rise as power plants rebuild stockpiles

(Bloomberg) — Coal India Ltd.’s shipments rose 4.8 percent from a year ago and output increased for a seventh straight month as power plants bought up fuel to replenish stockpiles and meet increasing demand for electricity. Sales totaled 49.97 million metric tons in February, according to a stock exchange filing Thursday. Production rose 0.3 percent from[…]

Mongolia's Oyu Tolgoi mine to lift force majeure

The Oyu Tolgoi copper and gold mine in Mongolia’s southern Gobi Desert will lift force majeure effective March 1 and majority owner Turquoise Hill Resources Ltd said on Wednesday that it expected to make up any sales-related effect over the next few quarters. Force majeure was declared Jan. 17 after protests by Chinese coal haulers[…]

Shipping gauge shows iron ore, copper prices heading for fall

Drifting into the doldrums? The Baltic Dry Shipping Index came to prominence at the start of the Chinese-led commodity supercycle around a decade ago. The London-based Baltic Exchange tracks the cost of moving commodities along more than 50 routes around the world and the BDI is considered one of the go-to barometers of the global[…]

Canada the world's overall top mining destination, despite Saskatchewan fall

Canada is the world’s most attractive region for mining investment, based on the combined rankings of all its provinces and territories, the latest annual global survey of mining executives released Thursday by the Fraser Institute shows. While the Maple Leaf country overtook Australia as regional destination number one, many of its provinces and territories did not fair well[…]

Cash-rich global miners eye India as coal sector opens up for private firms

India’s decision to allow private and foreign companies to bid for coal mines without any end-use or price restrictions is likely to lure foreign giants such as BHP, Rio Tinto, Anglo American and Glencore, currently swimming in cash. According to online trading firm Angel Broking, the new guidelines — aimed at boosting investment, output and[…]

Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are doing what shareholders have demanded of them. Glencore Plc, which traditionally favored stuffing its war[…]

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

Miner and commodities trader Glencore (LON:GLEN) said Wednesday it would pay shareholders $2.9bn in dividends after achieving what it called its “strongest results on record”, which attributed mainly to a sharp recovery on commodity markets and a strong performance from its marketing unit. The 2017 results leave Ivan Glasenberg, the head of the Swiss company, well positioned to[…]