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[…]

BHP rebuffs Elliott as first-half profit hits three-year high

BHP Billiton Ltd. rejected a new activist call for a corporate overhaul and joined rivals in boosting investor returns as first-half profit rose to a three-year high. The world’s biggest miner raised interim dividend payments 38 percent to beat estimates as underlying earnings rose by 25 percent to $4.1 billion, according to a Tuesday statement.[…]

Mining M&A jumps to 4-year high – expect more in 2018

The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, boosted by a jump in money raised on stock exchanges to a six-year high. Mining and metals deals totalled $51 billion last year, up 15% from 2016. Activity was dominated by coal and steel transactions. However,[…]

Moody's bullish on base metals, US steel

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. These are the key conclusions of Moody’s Investor Service, which released a recent report summarizing commentary from analysts at a Jan. 18 teleconference. Probably the most positive aspects of[…]

Mining sector unloved as investors find it hard to trust

Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took off, but when the global economy slowed, so did the market[…]