Basic Materials

Mining Chiefs At Indaba Mining Conference

World's Largest Metal Producer Reports Profit Fell to 86%

Amplats revealed a shocking 86% loss in its 2015 earnings report. The world's largest metal producer is facing a grim situation of reduced capital expenditure, mine closure, employment cutbacks, and shelving of projects.

Read Full Article
Nigerian Economy And Oil In Niger Delta And Port Harcourt

Nigeria's National Oil Company Announced an Annual Loss of $1.34 Billion

The loss is combined from its corporate service unit and its three refineries. The total annual loss was consistent with the company's continuing monthly loss over the past year. Nigeria, as Africa's biggest economy and largest oil producer, has been greatly suffered the oil prices fall.

Read Full Article
The Prime Minister Visits The Olympic Park

World's largest steelmaker ArcelorMittal to raise $3 billion to reduce debts, sells Gestamp shares at $1 billion

The leading steel company, ArcelorMittal, has no option but to raise money to pay off its huge debts. The company has resorted to issuing shares and selling off its minority stake in Gestamp, the Spanish auto-parts manufacturing company. The decision should fetch Lakshmi Mittal almost $4 billion - $3 billion from share issue and $1 billion from Gestamp - and reduce the debt burden to some extent.

Read Full Article
Chinese consumers are taking pictures of the gold..

China's gold demand rises as investors seek safe haven

The gold buying demand from China is surging from last December onwards owing investors' priority to safe haven assets. The sluggish stock markets, weaker currency and lower global prices are prime reasons for the rising demand for the yellow metal. The consumption rose 3.7 percent to 985.9 metric tons in 2015.

Read Full Article
The Daily Lives Of OAO Alrosa Diamond Mine Workers In The Sakha Republic

Diamond market rebound propels Alrosa's Q4 sales 45% up

Alrosa PJSC has recorded 45 percent growth in sales for the fourth quarter of 2015. The rebound in the global diamonds market helped Alrosa post encouraging performance. The diamonds prices in the global market fell over 18 percent in 2015.

Read Full Article
Stacks of copper await shipment at the Anglo American PLC Lo

Anglo American's copper output up 23% in Q4

Anglo American's copper production and from retained operations rose 23 percent for the fourth quarter of 2015. The overall copper equivalent basis production for 2015 rose five percent when compared with 2014. Majority of metals including copper, coal, nickel and iron ore tumbled during the second half of 2015. The copper inventory of Anglo American was at 197,631 tons as on 2015.

Read Full Article
Special Muhurat Trading Session On Diwali At Bombay Stock Exchange

Indian stock market at bear zone; Asian stocks gain

Despite economy growth rate of over seven percent, the Indian stock markets are suffering from the selloff by foreign investors. The domestic stock markets may enter bear territory soon after the fall in Shanghai and Tokyo markets. The cash-strapped foreign investors are offloading in Indian stocks since November 2015. On the other hand, Asian stocks gaining momentum following the marginal rebound in oil price.

Read Full Article
A vendor sits at a copper rod retail shop in Shanghai, China

Copper prices dancing to the tunes of China

The stockpiles levels in China, the biggest commodity consumer, are impacting copper prices in the global markets. Copper price is hovering at $4,400 per metric ton and is moving in consolidation phase. Chinese smelters may cut down output and stop increasing capacities this year.

Read Full Article
Aluminum Maker Alcoa Plans To Cut 15,000 Jobs

Alcoa will shut down its plant in Indiana

Alcoa Inc. announced that it will shut down one of the U.S.’s biggest aluminum smelters, Warrick Operations in Evansville, IN. The closure is expected to result in the loss of 1,270 jobs.

Read Full Article
Mining in Africa

Petra and Ekapa Acquire De Beers Oldest Diamond Mine

Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley.

Read Full Article
Copper

As long as China economy is under pressure, bearishness for copper likely

Copper price slipped below $2.40/lb (1lb=453.59265gm), a key support level, and was trading at $2.3260. With the $2.4 level becoming the key resistance level, the copper price needs to break this level to gain upward movement.

Read Full Article
Lowe's Cos.

Lowe's Companies reports Q2 $1.13B fiscal earnings but failed to meet Wall Street's expectation

Lowe's Companies Inc reports this year's second quarter net earnings at $1.13 billion, an eight percent increase from last year's $1.04 billion.

Read Full Article
Glencore

Andersons shares up after Bloomberg report hints Glencore interest

Shares of U.S.-based agribusiness Andersons Inc (ANDE.O) jumped more than 6 percent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore PLC (GLEN.L) could be interested in acquiring the company.

Read Full Article
BHP Billiton

BHP $13 billion spin-off South32 plans cautious approach to growth

BHP Billiton has put far less debt than expected into its $13 billion South32 spin-off, positioning the company formed from its unloved assets to weather tough markets and still pay a dividend.

Read Full Article
Holcim

Holcim faces pressure to get better terms for Lafarge deal

Swiss company Holcim (HOLN.VX) came under pressure on Monday to secure improved terms for its shareholders in a planned merger with France's Lafarge (LAFP.PA) that would create the world's largest cement maker.

Read Full Article
1 2 3 4 5 6 7 8 9 10  

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics