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[…]

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[…]

South Africa's mining charter to be finalized in three months

JOHANNESBURG, Feb 28 (Reuters) – South Africa’s new mining minister Gwede Mantashe said on Wednesday he will finalise the latest version of an industry charter which lays out requirements for black ownership levels and other targets in the next three months. Uncertainty around the charter has deterred investment into a sector that accounts for 8[…]

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[…]

Anglo American 'shows off' — doubles profits, halves debt, pays highest divvy in a decade

Global miner Anglo American (LON:AAL) was full of good news Thursday as it announced it had doubled its net profit in 2017, slashed debt and said it would pay its highest dividend in a decade, thanks mainly to rising commodity prices and lower costs. The company, the last of the world’s largest miners to report annual[…]

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[…]

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[…]

BHP CEO will meet with activist Elliott to discuss demands

(Bloomberg) — BHP Billiton Ltd.’s top executive will meet with major critic Elliott Management Corp. this week to discuss demands for a business overhaul that the activist group argues could deliver more than $22 billion in value. BHP’s first-half results missed analysts’ expectations and the shares fell 4.6 percent, on pace for the biggest daily drop[…]