BHP exiting oil and gas

World number one mining company BHP posted a fourfold rise in underlying profits on Tuesday in Australia of $6.7 billion. Free cash flow also surged, coming in at $12.6 billion. ADRs of the Melbourne-based giant was unchanged in after hours following a 1.3% gain during regular trading. The stock (NYSE:BHP) is up 14.3% in value this[…]

Luxembourg shoots for the stars with fresh space mining deal

Luxembourg seems to be in a rush to achieve its goal of becoming Europe’s hub for space mining, as it announced Monday a deal with a newly created company specializing in geolocation services and developing space infrastructure. Kleos Space, 100% owned by UK-based Magna Parva, is one of dozens of firms to have either settled[…]

Human activity creates 208 new mineral species

Nealite [Pb4Fe(AsO3)2Cl4·2H2O] From an ancient slag site in Greece, formed by slag meeting seawater. Credit RRUFF. For the first time more than 200 mineral species has been identified that originated either principally or exclusively due to human activities – primarily as a result of mining. The study led by Robert Hazen of the Carnegie Institution[…]

Frank Holmes: Time to grab the commodity bull market by the horns

Frank discusses the gold and bond markets and how they have been driven by global uncertainty. Bond rates have begun to decline again which is bullish for the gold market. He talks about forward looking industrial indicators which are currently positive and how they are predictive of future global economic demand. Holmes says this is[…]

Private capital rotating into mining and metals

After four-plus years of declines, 2016 was a comeback year for natural resources and the oil and mining industries – with only a couple of exceptions, energy, metal and mineral prices rallied last year. According to a new report by private capital tracker Preqin, the improving conditions of last year did not filter through to all[…]

INTERACTIVE: Mining emerges from slump

var divElement = document.getElementById(‘viz1483650170889’); var vizElement = divElement.getElementsByTagName(‘object’)[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width=’100%’;vizElement.style.height=(divElement.offsetWidth*0.75)+’px’;} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width=’100%’;vizElement.style.height=(divElement.offsetWidth*0.75)+’px’;} else { vizElement.style.width=’100%’;vizElement.style.height=(divElement.offsetWidth*1.77)+’px’;} var scriptElement = document.createElement(‘script’); scriptElement.src = ‘https://public.tableau.com/javascripts/api/viz_v1.js’; vizElement.parentNode.insertBefore(scriptElement, vizElement); The post INTERACTIVE: Mining emerges from slump appeared first on MINING.com. Source: Mining.com Coal Feed

Trump infrastructure bump forecast for global economy

During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year. The president elect also has aspirations of $1 trillion in infrastructure build-out in the US over the next decade. “Well targeted public spending initiatives could catalyse private economic activity and[…]

CHART: Mining capex decline set to continue

While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum. The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead[…]

Luxembourg shoots for the stars, invests $28 million in Planetary Resources

Artist’s rendition courtesy of NASA. Luxembourg is stepping up efforts to become Europe’s centre for space mining by buying a major stake in US-based asteroid miner Planetary Resources in a deal worth $28 million (€25 million) in investments. The funding, which includes a direct investment of €12 million and grants for €13 million from the country’s government and[…]

Mining robots key to colonizing Mars — Elon Musk

SpaceX chief executive Elon Musk, who last month revealed details of his ambitious plans to get at least a million people to Mars, said mining robots will be a key part of the planned colonization of the red planet. In reply to several inquiries during a question-and-answer “AMA” session on Reddit on Sunday, the tech billionaire — who also[…]