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March 4, 2021

Mining

Energy, mining stocks drag down FTSE 100

Reuters
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * FTSE 100 down 0.1%, FTSE 250 adds 0.2% March 2 (Reuters) – London’s FTSE 100 inched lower on Tuesday, dragged by energy and mining stocks as oil and......

A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations

CNBC
CNBC – For more and to sign up click here A visual representation of the cryptocurrency bitcoin. S3studio | Getty Images GUANGZHOU, China — China’s Inner Mongolia region plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on energy-consumption. Bitcoin is......

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......

Mohamed Bazoum solidifies lead in Niger’s presidential election runoff

Reuters
Mohamed Bazoum sits at his pollitical party headquarters in Niamey, file. REUTERS/Joe Penney//File Photo DAKAR (Reuters) – Niger’s ruling party candidate Mohamed Bazoum has solidified his lead in a presidential election runoff meant to usher in the first democratic transition of power in the West African nation, election commission data......

Global dividend payouts forecast to revive in 2021

Reuters
LONDON (Reuters) – Global dividend payments could rebound by as much as 5% this year, a new report estimated on Monday, after the coronavirus caused the biggest slump in payouts since the financial crisis more than a decade ago. FILE PHOTO: Canary Wharf stands in London, Britain December 27, 2020.......

Breakingviews – Coal wobble flags Glencore’s green high-wire act

Reuters
Glencore Chief Executive Ivan Glasenberg attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. LONDON (Reuters Breakingviews) – Ivan Glasenberg is leaving Glencore shareholders and green activists with a parting climate conundrum. The South African’s final results-in-charge revealed a collapse in coal EBITDA to......

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......

White House working to address semiconductor shortage hitting auto production

Reuters
FILE PHOTO: U.S. President Joe Biden delivers remarks to Defense Department personnel during a visit to the Pentagon in Arlington, Virginia, U.S., February 10, 2021. REUTERS/Carlos Barria WASHINGTON (Reuters) – The White House said Thursday administration officials are working to address a growing shortage of semiconductor chips that has slowed......

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......

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......

Canada’s Suncor Energy reviews mining safety after three workers killed

Reuters
(Reuters) – Canada’s second-biggest oil company, Suncor Energy Inc, said on Thursday it had started a third-party safety review, after three contract workers died in two separate mining accidents. FILE PHOTO: Suncor Energy facility is seen in Sherwood Park, Alberta, Canada August 21, 2019. REUTERS/Candace Elliott/File Photo Chief Executive Mark......

Fortescue pays royalties to Aboriginal group, a year late

Reuters
MELBOURNE (Reuters) – Australia’s Fortescue Metals has pledged to pay nearly A$2 million ($1.4 million) in outstanding royalties to an Aboriginal partner, around a year after they were initially due, a spokesman for the group said on Thursday. The A$1.9 million figure represents full payments for 2019 and comes amid......

U.S. Mint unable to meet demand for gold, silver bullion coins

Reuters
FILE PHOTO: A quality control agent examines a 2013 enhanced silver eagle silver coin at the United States West Point Mint facility in West Point, New York June 5, 2013. REUTERS/Shannon Stapleton NEW YORK (Reuters) – The United States Mint said on Tuesday it was unable to meet surging demand......

At odds over many things, U.S. lawmakers AOC and Ted Cruz agree on Robinhood probe

Reuters
WASHINGTON (Reuters) – At odds over most issues, Democrat Alexandria Ocasio-Cortez and Republican Ted Cruz agreed on Thursday that Congress needed more information about online trading platform Robinhood Markets Inc’s decision to restrict retail trading in shares of GameStop and other stocks that have experienced dramatic gains this week attributed......

China rescues first person from Shandong gold mine: state media

Reuters
BEIJING (Reuters) – A miner was rescued from a gold mine in northern China on Sunday morning, state media said, after 14 days trapped below ground following an explosion. Authorities had said last week it could take another two weeks to get the miners out. Reporting by Dominique Patton; Editing......

China rescues first person from Shandong gold mine: CCTV

Reuters
BEIJING (Reuters) – A miner was rescued from a gold mine in northern China on Sunday morning and rushed to hospital for treatment, state broadcaster CCTV said, after being trapped 14 days below ground by an explosion. The miner was “extremely weak”, according to a post on CCTV’s Weibo microblog......

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