Anglo American appoints takeovers expert as new chairman

Anglo American (LON:AAL), the world’s fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group. Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November. Stuart Chambers is known for his active participation in the sale of several[…]

Adani to go ahead with polemic Carmichael coal mine after all

Indian conglomerate Adani Group has decided to go ahead with its $12 billion (A$16bn) Carmichael coal mine and rail project in Queensland, Australia, one of the world’s largest thermal coal mines approved in recent years. The decision comes only days after the conglomerate agreed to pay the state hefty royalties on the coal produced there[…]

CHART: Commodity prices slump to 50-year low against US stocks

The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world’s largest economy remains stuck around the 1% level.“Following the notion of mean reversion, we should be seeing attractive investment opportunities” In contrast the S&P GSCI All Commodities index is[…]

Here's why the iron ore price is tanking

The destruction of iron ore and coking coal prices in the past week has been brutal. Northern China 62% Fe import prices are down more than 12% since last Friday after losing another $4 on Friday to below $60 a tonne. Measured from its February peak, the steelmaking raw material is down a stomach-churning 37%.[…]

Another BHP investor pressing for oil spinoff, board shake-up

Australia’s Tribeca Investment Partners became Friday the second shareholder in world’s largest miner BHP Billiton (ASX: BHP) (LON:BLT) to publicly press for strategic changes at the company. Tribeca, a Sydney-based boutique hedge fund, has sent the miner an eight-page letter titled “Making BHP Great Again,” in which it says the company could raise nearly $10 billion from the[…]

INFOGRAPHIC: The numbers behind the world's closest trade relationship

Courtesy of: Visual Capitalist Whether we’re discussing the ancient merchants that traversed the legendary Silk Road, or the transfer of goods across modern border lines, trade has always been about building close relationships. There are many examples of strong and mutually-beneficial trade relationships all throughout history, but one doesn’t have to look far back to[…]

Dozens trapped, two killed in Iranian coal mine explosion

Two coal miners have died and more than 50 remain trapped after an explosion in a mine located in Iran’s northern Golestan province. Speaking to Press TV, the English-language arm of Iranian state television, the head of the provincial Red Crescent, Hossein Ahmadi, said there were 26 people trapped. Sadegh Ali Moghadam, the provincial director general[…]