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...He said part of the reason behind December’s production downgrade was unwinding optimistic projections made under previous boss Mark Cutifani on delivering output and sustainability improvements through...
...The scandal at Endeavour marks a blot on one of the London market’s few recent success stories after it grew from a market capitalisation of about $1.5bn to almost $7bn at its peak through aggressive dealmaking...
...Vale faces a £3bn lawsuit in the Netherlands from 77,000 claimants over the 2015 Mariana dam collapse in Brazil, opening a new front in legal action against the mining group and its project partner BHP over...
...giant’s public offering in 2011, according to a letter seen by the Financial Times....
...The project’s issues mark a further setback for mining’s reputation in London as a safe place to secure returns on investor capital, at a time when Glencore is coming under pressure to move its primary listing...
...Kasia BroussalianHarry Dempsey is a commodities correspondent for the FT. Thanks, Harry. Harry DempseyThanks....
...The US and the UK have launched a crackdown on trades in Russian metals, in a move designed to limit Moscow’s export revenue and restrict its ability to fund the war in Ukraine....
...The action, announced by the two countries on Friday, marks an aggressive effort by the allies to damage Russia’s income — but could disrupt trading at exchanges including the London Metal Exchange and Chicago...
...Copper, the third metal covered by the new measures, added 1.6 per cent to $9,604 a tonne, its highest level in 22 months, on expectations of a tighter market as a result of the sanctions....
...The London-listed group is now exploring a sale or liquidation, among other options, after potential investors were unwilling to stomach the 87 per cent increase in estimated costs to more than $1bn to build...
...London-listed Endeavour Mining has unearthed two further “deliberately disguised” payments totalling $15mn made to the same third party that received a $5.9mn payment that resulted in chief executive Sébastien...
...That catapulted gold beyond what the market dubbed its previous “triple tops” around the $2,070 mark, when the coronavirus pandemic battered the US in 2020, Russia invaded Ukraine in 2022 and the US banking...
...That marks a stark reversal from two years ago when the industry was reporting bumper earnings off the back of surging prices for palladium and rhodium, as automotive demand ran hot....
...trader at Heraeus, a refinery of precious metals....
...The payments, made in August and November 2020, were disguised as being to a contractor, Endeavour said, leaving the FTSE 100 company or the contractor with a potential loss....
...“Previously when we have had a rally of $70 to $80, it is usually accompanied by a new catalyst or risk event,” said Suki Cooper, analyst at Standard Chartered....
...On Wednesday, it also published a new 2030 target to cut CO₂ emissions by 25 per cent from 2019 levels, and intends to provide shareholders more information about how it will reach its goal of a 50 per cent...
...Joining Rio after a career as an investment banker at JPMorgan in New York and London, Baatar has developed a reputation as one of the mining industry’s most dynamic executives, with a capacity to fix complicated...
...rock shelters in a mine expansion....
...Gold prices have surged close to record levels, continuing a 16-month rally for the asset, which is typically perceived as a haven asset during times of economic uncertainty....
...The Mopani deal finalised at the end of March marks a new force sweeping through the global mining sector....
...Tuesday’s move continued a rally that started on Friday led by rising market expectations of a Federal Reserve rate cut in June following weaker economic data....
...“Elevated mine supply disruptions point to a deficit of 700,000 tonnes, and should start to feed through to refined production too,” said Morgan Stanley in a note, predicting a $10,200 per tonne copper price...
...Trafigura’s plea marks the first time that it has admitted to wrongdoing in the Car Wash scandal, following rivals Glencore and Vitol admitting to having made bribes in the country in order to settle broader...
...The price of gold was trading around a record high, keeping it on course for a seven-session winning streak....
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