Other Commodities
Orocobre and Galaxy merge into a new mining company
Australian lithium miners Galaxy Resources (ASX: GXY) and Orocobre (ASX: ORE) have agreed on a merger that would create a $ 3.1 billion (A $ 4 billion) company that is the world's fifth largest manufacturer of Lithium chemicals will be the refined form of raw …
The political fight around the US mining industry hits local industries
Early last year, Darrin Lewis paid $ 800,000 for a hardware store in a tiny Arizona town where mining giant Rio Tinto (NYSE: RIO) Plc hopes to build one of the largest underground copper mines in the world. Rio buys material for the mine construction site in …
Rio Tinto reaches deal for Oyu Tolgoi financing
Rio Tinto (ASX, LON, NYSE: RIO) and its majority-owned Turquoise Hill Resources (TSX, NYSE: TRQ) have reached a deal that results in a stalemate between the companies over funding for an expansion of the massive Oyu Tolgoi copper-gold mine ended in Mongolia. …
Chile´s mining minister plans to stop planned mining bill
Chile's Mining Minister Juan Carlos Jobet said Monday that a bill to increase taxes on copper and lithium miners, which is currently being debated by lawmakers, was "unconstitutional," adding that the government of center-right President Sebastian Piñera was …
Small miners make Congo one of the largest producers of Cobalt in the world
Congo's Entreprise Générale du Cobalt (EGC) could become the fourth largest cobalt producer in the world in 2021, according to a new Roskill report. According to the market analyst, if the state-owned company is able to capture all 8,000 tons of cobalt …
Suez canal blockage without impact on LNG markets
On the morning of March 23rd, the world was shaken by the unfortunate news that the Suez Canal was blocked. At 7:40 a.m. local time, the Ever Given ran aground when strong winds took her off course. The importance of the Suez Canal for worldwide shipping can …
Pioneer Natural stock loses after takeover spree
Stocks of Pioneer Natural Resources (NYSE: PXD) fell more than 6% as the US oil producer surprised investors by taking over rival DoublePoint Energy for $ 6.4 billion months after a big deal, with the sector getting on still recovering from last year's crash. …
Oil prices down almost 5%
For better or worse, the world's oil producers decided last week to defy Saudi Arabia and press for higher output in the next three months. After being patted on the back and even rewarded, the market is now saying it was definitely for the bad. Crude oil …
Companies call for ban on deep sea mining
BMW, Volvo, Google and Korean battery maker Samsung SDI have vowed not to buy metals from deep-sea mining until the environmental risks of this activity are "fully understood". The firms are the first global corporations to support a World Wildlife Fund (WWF) …
Oil struggles to regain positive momentum
Oil prices are struggling to regain their strong upward trajectory of the past four months as new Covid-19 lockdowns in Europe weigh on crude oil prices as they seek to rebound from the worst week since late October. The New York-traded West Texas …