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May 6, 2021

Metals & Mining (TRBC level 3)

China shares end higher as some IT firms pledge against anti-competition

Reuters
* SSEC 0.6%, CSI300 0.8% * HK->Shanghai Connect daily quota used 5.2%, Shanghai->HK daily quota used 0.7% * FTSE China A50 +0.5% BEIJING, April 14 (Reuters) – China shares rose on Wednesday, with IT firms leading the gains, as investors cheered internet platform companies pledging to avoid anti-competitive behaviours after......

Thousands protest in Belgrade, demand government action to stop pollution

Reuters
BELGRADE (Reuters) – Several thousand people blocked traffic in front of the Serbian parliament on Saturday in a protest against lack of government action to prevent water, land and air pollution by industries such as the mining sector. Protesters, who came to Belgrade from all over Serbia, held banners reading......

BHP, Vale Samarco JV files for Brazil bankruptcy protection

Reuters
FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado/File Photo RIO DE JANEIRO (Reuters) – Samarco Mineracao SA, a joint venture between Brazilian miner Vale SA and BHP Group Ltd, has filed for bankruptcy protection to prevent creditors’......

U.S. stops AstraZeneca vaccine production at Baltimore plant – NY Times

Reuters
FILE PHOTO: A vial with the AstraZeneca’s coronavirus disease (COVID-19) vaccine is pictured in Berlin, Germany, March 16, 2021. REUTERS/Hannibal Hanschke/File Photo (Reuters) – U.S. President Joe Biden’s administration on Saturday stopped a Baltimore manufacturing plant that ruined 15 million doses of Johnson & Johnson’s COVID-19 vaccine from making another......

PRECIOUS-Gold on back foot as firm U.S. dollar weighs

Reuters
(Adds analyst comments, details, updates prices) * Further bond sell-off could push gold below $1,700/oz -analyst * Markets eye Biden's infrastructure spending plans on Wednesday By Asha Sistla March 29 (Reuters) - Gold prices inched lower on Monday as the U.S. dollar and global share markets firmed on the back......

German steelworkers reach pay deal with union

Reuters
BERLIN (Reuters) – Germany’s largest trade union, IG Metall, agreed a wage deal on Saturday for the roughly 70,000 workers in the iron and steel industry in north-west Germany. Under the agreement, which runs for 15 months and was struck after seven hours of talks, workers will receive lump-sum payments......

Renault says will produce three new hybrid models in Spain

Reuters
FILE PHOTO: A logo of Renault carmaker is pictured at a dealership in Brest, France, February 19, 2021. REUTERS/Stephane Mahe MADRID (Reuters) – France’s Renault said on Tuesday it will produce three new higher-margin hybrid models in 2022-2024 in Spain following a new labour agreement struck recently with unions. The......

UPDATE 1-Flooding stops Australian coal rail deliveries to Newcastle port

Reuters
(Adds details of port, background) MELBOURNE, March 22 (Reuters) – Australia’s Hunter Valley coal rail lines have been shut due to flooding in the state of New South Wales, the Australian Rail Track Corp said on Monday, halting deliveries into the port of Newcastle, the world’s biggest coal export port.......

Apollo ends talks with Greensill Capital’s administrators – sources

Reuters
FILE PHOTO: Logo of Greensill Bank is pictured in downtown Bremen, Germany, March 10, 2021. REUTERS/Fabian Bimmer LONDON (Reuters) – U.S. private equity company Apollo Global Management has ended talks with the administrators of British financing company Greensill after a JPMorgan investment in Greensill’s technology partner, two sources familiar with......

China environment minister urges crackdown on steel mills’ illegal production

Reuters
SHANGHAI/BEIJING (Reuters) – China’s Ministry of Ecology and Environment (MEE) urged top steelmaking city Tangshan to severely crack down on violations of atmospheric environment rules after it found four steel mills failed to implement production curbs during heavy pollution. Tangshan government had issued a second-level pollution alert on March 8,......

Global mining trade group picks sustainability expert as new CEO

Reuters
JOHANNESBURG (Reuters) – The International Council on Mining and Metals (ICMM) said on Tuesday that it had appointed Rohitesh Dhawan, a managing director at Eurasia Group with expertise in climate change and sustainability, as the trade group’s new chief executive. The appointment of Dhawan, effective from April, reflects increased pressure......

UK new car sales slump in February amid COVID-19 hit

Reuters
FILE PHOTO: Parked cars are seen at the Vauxhall plant as the outbreak of the coronavirus disease (COVID-19) continues, in Ellesmere Port, Britain March 16, 2020. REUTERS/Phil Noble/File Photo LONDON (Reuters) – British new car registrations fell by roughly 36% year-on-year in February, according to preliminary data from an industry......

Mexican mining chamber warns uncertainty to bring investment cuts

Reuters
MEXICO CITY (Reuters) – Mexico’s large mining sector will likely see some recovery this year after 2020’s pandemic-induced slump, but a key industry leader said he fears rising political risk will drag down growth as companies focus new investments elsewhere. Fernando Alanis, president of Mexican mining chamber Camimex, said in......

Biden says he will push for funding for semiconductor legislation

Reuters
U.S. President Joe Biden delivers holds a semiconductor chip as he speaks prior to signing an executive order, aimed at addressing a global semiconductor chip shortage, in the State Dining Room at the White House in Washington, U.S., February 24, 2021. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. President Joe Biden......

Glencore reinstates dividend as 2020 net debt drops

Reuters
JOHANNESBURG, Feb 16 (Reuters) – Glencore on Tuesday reinstated its dividend after net debt fell by 10% in its full-year 2020, helped by surging commodity prices in the second half The commodities trader and miner which scrapped its dividend in August last year after a first-half loss amid the COVID-19......

Breakingviews – BHP boss gets extended Chinese honeymoon

Reuters
FILE PHOTO: A BHP Billiton sign is visible behind a pile of iron ore at the company’s loading facility in Port Hedland, Australia, May 30, 2008. REUTERS/Tim Wimborne/File Photo MELBOURNE (Reuters Breakingviews) – Mike Henry can celebrate an unexpectedly happy anniversary. He became chief executive of Australian mining giant BHP......

PRECIOUS-Gold gains as dollar stumbles, platinum near 6-year high

Reuters
* Platinum scales highest since Feb 2015 * China's auto sales surged 30% in Jan * Dollar index at two-week low * U.S. Fed Chair speech at 1900 GMT, CPI data at 1330 GMT (Adds comments, updates prices) By Nakul Iyer Feb 10 (Reuters) - Gold prices gained for a......

Elon Musk puts up $100 million for global carbon reduction competition

Reuters
FILE PHOTO: SpaceX founder and chief engineer Elon Musk attends a news conference at the Kennedy Space Center in Cape Canaveral, Florida, U.S. January 19, 2020. REUTERS/Steve Nesius/File Photo (Reuters) – Tesla Inc boss and billionaire entrepreneur Elon Musk is offering a $100 million prize in a four-year global competition......

Exclusive: Facing green pressure, Indonesia halts deep-sea mining disposal

Reuters
By Fransiska Nangoy, Fathin Ungku JAKARTA (Reuters) – Indonesia will no longer permit mining waste to be disposed in the ocean to allay concerns about the environmental impact of processing nickel used in electric vehicle (EV) batteries, a government official and a corporate mining source said. FILE PHOTO: A worker......

Brazil’s Vale agrees to $7 billion Brumadinho disaster settlement

Reuters
By Marta Nogueira, Tatiana Bautzer RIO DE JANEIRO/SAO PAULO (Reuters) – Brazilian miner Vale SA said on Thursday it has reached a 37.7 billion real ($7 billion) agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the collapse of a mining dam in 2019 which......

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