The Democratic Republic of Congo expects to issue a decree identifying strategic metals by the end of October, a government official said.Congo's government has said it's preparing to categorize cobalt and other metals as strategic, imposing a 10 percent royalty tax on producers including Glencore Plc and China Molybdenum Co. The measure, introduced as part of this year's overhaul of mining laws,...Read More
A company owned by Russian billionaire Alisher Usmanov is in talks to raise $1.25 billion from Russian banks by the start of 2019 to build a massive mining and metallurgical plant at Russia's biggest untapped copper deposit, its chairman said.Large greenfield projects in Russia's energy and mining sector slowed after Russia was hit by Western sanctions four years ago, limiting the economy's access...Read More
* NSE index down 1.2 pct, BSE index 1.3 pct lower* Financials top drag, Reliance Ind falls 2.2 pctSept 17 (Reuters) - Indian shares fell over 1 percent on Monday after two straight sessions of gains, as measures outlined by the government on Friday to stem the rupee's steep decline failed to boost investor sentiment, while weak Asian shares also weighed on the market.The rupee INR=D2 fell more tha...Read More
(Adds Hotstar's response)Sept 17 (Reuters) - Walmart (NYSE:WMT) Inc's WMT.N Flipkart unit is in talks to buy a stake in Star India's video streaming service Hotstar, the Mint daily reported on Monday, stepping up the e-commerce firm's battle with Amazon.com Inc AMZN.O by expanding into video content.Flipkart's reported https://www.livemint.com/Companies/aahtibpsOIu6Bp3HH6oCxL/Flipkart-Hotstar-stak...Read More
* Trump 'likely' to announce new China tariffs as early as Monday* Sino-U.S. trade war raises concerns over world oil demand* Losses limited by concern over U.S. sanctions on Iran* Iranian crude oil exports down 580,000 bpd in 3 months - BofAML (Updates with settlement prices, adds market activity, commentary)By Stephanie KellyNEW YORK, Sept 17 (Reuters) - Oil prices were little changed on Monday...Read More
(Bloomberg) -- Industrial metals including copper opened the week with steep losses on concern the U.S.-China trade war is set to get much worse, with President Donald Trump prepared to hit the mainland with another round of levies, damping prospects for demand in the world's largest consumer.Nickel lead the retreat, tumbling as much as 3.2 percent to $12,250 a metric ton on London Metal Exchange...Read More
(Bloomberg) -- Nothing sells like economic nationalism in Indonesia’s election season.Facing a challenge from a self-proclaimed nationalist, President Joko Widodo has used speeches after his nomination for April’s vote to tout his success in wresting control of the nation’s prized natural resources from foreign companies.Now the campaign in the lead up to the April 2019 poll is e...Read More
Gold, base metals downCapital marketsThe deals, which test a widespread view in the mining industry that growth by acquisition is off the agenda are the US$260 million purchase by Australia's Northern Star Resources of Sumitomo's...Read More
"We have had some really positive surprises out of this process"LeadershipOnly open global trade can answer critical elements questionsPoliticsChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftElementos builds diversified tin growth platformSPONSOREDelementos Imperial's finances have been hit by a recent two-month strike at the...Read More
It is hardly a surprise that existing and future shareholders in the mining industry are predominantly concerned about returns on their investments. Regardless of whether investors are seeking a capital appreciation of their stock portfolio or plan to grow their money through dividend payments, or a combination of both, they typically make money when a company does.Mining companies that provide a...Read More
(Bloomberg) - Industrial metals started the week with more losses on concern that the escalating U.S.-China trade war will hurt prospects for demand in the biggest users.Copper, nickel and zinc dropped at least 1.3 percent in London after President Donald Trump was said to have instructed aides to proceed with tariffs on about $200 billion more in Chinese products, despite his Treasury Secretary'...Read More
MOSCOW, Sept 17 (Reuters) - A company owned by Russian billionaire Alisher Usmanov is in talks to raise $1.25 billion from Russian banks by the start of 2019 to build a massive mining and metallurgical plant at Russia's biggest untapped copper deposit, its chairman said.Large greenfield projects in Russia's energy and mining sector slowed after Russia was hit by Western sanctions four years ago, l...Read More
Investing.com - Gold prices look likely to remain under pressure this week with the prospect of higher U.S. interest rates to the front of metal traders’ minds.The U.S. will see a relatively quiet week in terms of economic releases, with a report on the housing sector expected to draw the most attention.Economists reckon the data will do little to alter expectations that the Federal Reserve...Read More
Investing.com - Oil traders are likely to stay focused on potential disruptions to global crude supplies in the upcoming week, as looming U.S. sanctions on Iran are widely expected to lead to a tighter market.The sanctions, which from November will include Tehran's oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.Iran is the...Read More
Investing.com - The U.S.-China trade spat will likely remain a key driver of sentiment in the week ahead after reports said U.S. President Donald Trump wants to move forward with tariffs on $200 billion in Chinese goods.U.S.-Sino trade-war fears have been simmering for months. Neither side is showing any signs of backing down, fueling worries that world's two largest economies are spiraling toward...Read More
* Trump proceeding with tariffs on China -source* Emerging market stocks rise after Turkey rate hike* Oil rises, helping energy shares (Updates to close of U.S. stock market)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade war with Beijing....Read More
Anglo American Plc has quietly become a commodities trader.In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking a back seat to mines that produce everything from copper and platinum to diamonds.Anglo's move into t...Read More
Sept 15 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events ----------------------------------------------...Read More
* Fiscal year to end without spending cuts - finmin* Will have higher-than-projected growth rate - finmin* Prime Minister satisfied with broad econ parameters (Updates to add detail from meeting, context)By Neha Dasgupta and Nigam PrustyNEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gr...Read More
NEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gross domestic product in the ongoing fiscal year, a day after announcing a number of measures to bolster a falling rupee.The fiscal year that ends in March 2019, will be completed without any spending cuts and the government is sure of me...Read More