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...One of Greensill Capital’s major clients was GFG Alliance, a group of metals and commodities companies led by Sanjeev Gupta, which borrowed $5bn from Greensill Capital....
...One of Greensill’s major clients was GFG Alliance, the metals group of Sanjeev Gupta, which had borrowed $5bn from Greensill Capital....
...Iron ore bulls are thin on the ground these days — as are those willing to dig into large iron ore miners such as Rio Tinto....
...Moira O’Neill is a freelance money and investment writer. She holds none of the funds mentioned. X: @MoiraONeill, Instagram @MoiraOnMoney, email: moira.o’neill@ft.com...
...China’s love affair with property may be ending but no one seems to have told iron ore traders. Imports of the transitional metal used for construction steel rose in 2023 compared to the previous year....
...Moira O’Neill is a freelance money and investment writer. X: @MoiraONeill, Instagram @MoiraOnMoney, email: moira.o’neill@ft.com....
...Demand is falling from all the sectors that have been the largest buyers of steel: property developers, carmakers and home appliance companies....
...As prices fall, the companies can only awkwardly point out that these metals now matter less and less to the group’s profits....
...Besides diamonds, the London-based company managed to maintain its guidance across its other commodities such as copper, iron ore and steelmaking coal....
...Ensuring Tata and British Steel can source the high-quality scrap they need will certainly require a major effort to collect and separate scrap metal more effectively....
...Australia’s Wyloo Metals is shutting down nickel mines in Western Australia, while BHP has said it is considering the closure of some nickel operations....
...Moira O’Neill Definitely. Yeah. So these are usually on the active side because they invest in not only the physical metals, but also things like the miners that mined the metals as well....
...Rio Tinto’s board has approved the world’s biggest mining project in west Africa, chief executive Jakob Stausholm said as he outlined the company’s ambition to produce iron ore from the $20bn development...
...manager at the company....
...The International Energy Agency said there would need to be a big increase in the production of metals such as copper, lithium and iron ore in the coming years for the world to achieve net zero emissions...
...Australia’s nickel industry is confronting a crisis with a number of companies suspending operations due to a collapse in the metal’s price driven by a supply glut from Indonesia....
...rather than iron ore....
...Meanwhile, demand has been hit by the slowdown in the growth of electric vehicles, as well as the rising penetration of lithium-iron-phosphate (LFP) batteries, which do not use cobalt and have taken off...
...The weaker outlook has also hit iron ore prices, said Harry Murphy Cruise, assistant director and economist at Moody’s Analytics....
...Vale’s shares in Brazil have fallen almost a fifth since the start of the year following a sharp slide in iron ore prices....
...He had acquired the assets via his Wyloo company last year....
...“I want to supply green hydrogen, green metals, green iron, green technology, green everything....
...Shareholders backed a change in the company’s name from Fortescue Metals Group to Fortescue Ltd on Tuesday to reflect the company’s increasing focus on green energy as Forrest called on shareholders to once...
...Other than supplying raw materials such as nickel — Indonesia has the world’s largest reserves of the metal used in batteries — the country could also be a centre for EV production and carbon monetisation...
...But prices of iron ore, of which China is by far the biggest buyer, have jumped at the same time....
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