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...On Wednesday it said that a planned restructuring of four shafts at platinum group mines in South Africa could result in more than 4,000 job losses, showing that it was not averse to making tough decisions...
...The business has also been hit by price collapses for diamonds and platinum as well as problems at its Quellaveco copper project in Peru that only started production in 2022....
...On this basis, its $21bn of copper assets are larger than its iron ore business....
...Morgan Stanley now expects mined copper output to fall 0.7 per cent this year. Macquarie, meanwhile, predicted this week that refined production growth for zinc would drop 0.4 per cent....
...The drive to increase its exposure to copper triggered last year’s $6.4bn acquisition of South Australia’s OZ Minerals....
...If we include our estimate of synergies on an after-tax present value basis ($4.1bn), we estimate Anglo fair value to be 2824p/sh, which equates to a US$42.6bn equity value....
...BHP has proposed an all-share takeover of Anglo American in a deal that would reshape the mining industry and bolster the presence of the world’s largest mining company in copper, iron ore and fertilisers...
...Russia is a key producer of all three metals, generating 6 per cent of the world’s aluminium, 4 per cent of copper and 11 per cent of high purity nickel metal, according to Citigroup....
...Polska Miedz: shares in the copper miner and producer of precious and other non-ferrous metals rose 4.6 per cent in early trading, joining other miners in a sector-wide rally driven by rising metals prices...
...policy to prop up the currency. 4....
...Russia supplies about 6 per cent of the world’s aluminium, 5 per cent of nickel and 4 per cent of copper, according to CRU Group, a consultancy....
...The S&P 500 fell 0.2 per cent on Wednesday, with just over half of its stocks finishing higher....
...That’s because more than $4.5bn of ebitda disappeared from its platinum and nickel operations alone....
...In the summer of 2023, Rothschild bankers working for Zambia’s government were close to finalising a shortlist of buyers for a prized copper mine....
...Copper prices have dropped 4 per cent this year to about $8,000 a tonne, down from more than $10,000 at their peak last year, as the growth in the world economy has cooled off and production at new mines...
...It trimmed its dividend for 2023 to $4.35 per share, down 12 per cent from the previous year. The total payout of $7.1bn represents 60 per cent of Rio Tinto’s underlying profit of $11.8bn....
...Read more on what is a big test for President Joe Biden. 4. A mining start-up backed by Bill Gates and Jeff Bezos said it had discovered a vast copper deposit in Zambia....
...The European Central Bank decided to raise interest rates by a quarter point yesterday, to an all-time high of 4 per cent....
...Pascall said the mine covers less than 4 per cent of the rainforest cleared in the country over the previous 25 years yet generated enough copper last year for 6mn electric vehicles....
...The bank forecasts that commodity prices will fall as little as 3 per cent in 2024 and 4 per cent in 2025....
...Necklaces, from top: Dior Joaillerie gold, diamond and onyx Rose des Vents medallion, £6,800, and gold, diamond, platinum, mother-of-pearl and onyx Rose des Vents and Rose Céleste long necklace, £25,100....
...Rio Tinto’s difficult years-long expansion of the Oyu Tolgoi copper mine in Mongolia is now delivering tonnes into a constrained copper market, where stronger prices helped the major miner prop up earnings...
...World’s top copper producer bemoans spectre of speculators Trade Chile’s current account deficit in September 2023 was $4.5bn, though it was in surplus in the previous quarter by $1.7bn....
...hipster haven in the style of a craft brewery Website; Directions Pallet was founded in 2014 by two coffee-obsessed friends who started by acquiring a 4,000-square-foot seafood-packing plant in a largely...
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