Month: October 2017
K+S shares sink as salt firm's shake-up turns sour
German minerals company K+S plans to combine its salt and potash businesses to make savings and target customers more effectively, it said on Monday, disappointing investors hoping for a more far-reaching overhaul. Shares in the world’s biggest salt producer and...
Rio Tinto declares force majeure at Kennecott following fatal accident
Rio Tinto (ASX, LON:RIO), the second largest mining company, declared force majeure last Friday on shipments of refined copper from its Kennecott unit in the U.S. following the death of a worker earlier in the week. Albert Lozano died on...
BHP's copper production up sharply, iron ore down
The world’s number one mining company BHP (NYSE:BHP) reported solid September quarter production across its business units on Tuesday and made no changes to its production and cost guidance for its current financial year to end-June 2018. The Melbourne-based giant said improved...
Gold price bull Marc Faber under fire for racist comments
Marc Faber in 2014. Image from archives Well-known market commentator, contrarian investor and gold bull, Marc Faber, is coming under fire for comments made in his latest missive for the Gloom, Boom & Doom Report. In the October edition of his closely-followed newsletter...
China’s plan to upgrade its industry by 2025 could increase copper demand by 232,000 tonnes
The Chinese government’s Made in China 2025 initiative will have a significant impact on copper demand in China, according to new research commissioned by the International Copper Association (ICA). As China endeavors to upgrade its industry through increased efficiency and...
Proceeds from massive diamond found by pastor to go to Sierra Leone’s poorest
Proceeds from the auction of a 709.41-carat diamond found by a local pastor early this year in Sierra Leone will go to fund development projects in the community where it was found, the group managing the sale said on Tuesday. International diamond...
Seven workers killed and one still trapped after Turkey coal mine collapse
Seven miners have died and one was seriously injured after part of a coal mine in Turkey’s southeastern province of Sirnak — bordering Iraq and Syria — collapsed on Tuesday. According to private Dogan news agency (in Turkish), eight miners were...
MCX launches India's first gold options contract
India’s Multi Commodity Exchange (MCX) on Tuesday launched the country’s first gold options contract in New Delhi to coincide with the gold-buying festival of Dhanteras. “Gold Option contract, with Gold (1 Kg) futures as underlying, expiring on Nov. 28, 2017,...
Nexans to power the world’s largest potash mine
As the global population continues to grow, potash, one of the key ingredients in agricultural fertilizer, will play an increasingly important role in the world’s future. To meet the growing demand, Mosaic, the world’s leading producer of potash and phosphate...
De Beers latest diamond sale the worst in almost two years
De Beers latest diamond sale the worst in almost two years Company offered less precious stones to match supply to demand, which has been sluggish. Cecilia Jamasmie | Oct. 17, 2017, 3:45 AM | | De Beers, the world’s largest...
An aggressive gold exploration play
U.S. Gold Corp. (USAU:NASDAQ) is drilling a massive gold project. With Gold Standard Ventures Corp.’s (GSV:TSX.V; GSV:NYSE) Dave Mathewson at the helm for exploration, this is a must-have for any gold portfolio looking for some potential luster with elephant-sized discovery potential. Here are...
Car manufacturers are electrifying copper, “The metal of the future”
As many of you know, copper is often seen as an indicator of economic health, historically falling when overall manufacturing and construction is in contraction mode, rising in times of expansion. That appears to be the case today. Currently trading...