Glencore shares surge after FTSE 100 miner merger talks revealed Commodities The global mining landscape is bracing for a seismic shift after Rio Tinto and Glencore confirmed they are in talks regarding a potential merger. A tie-up between the two FTSE 100 titans would create the world’s largest mining entity, boasting a combined enterprise value of approximately £190bn. Glencore shares rallied nine per cent in early [...]
BHP profit hits five-year low amid weaker iron ore prices Business Profit at BHP has slumped to a five-year low as lower iron ore prices and economic turbulence have hit the mining giant. The firm posted underlying attributable profit of $10.2bn (£7.6bn) in the year to June, a decline of 26 per cent compared to last year and the lowest since the start of the pandemic [...]
Antofagasta: Output at FTSE 100 mining giant to disappoint Mining Output at the Chilean mining conglomerate Antofagasta is likely to come in at the lower end of the firm's guidance in its full year results, the firm has said, despite copper production rising by 20 per cent between April and the end of June.
Copper prices have been hitting record highs – why? May 26, 2024 The price of copper has surged to an all time high this week, and in doing so broke the $11,000-per-ton mark for the first time ever. Why?
Trafigura: AI and data centre construction could lead to copper shortages April 9, 2024 Trafigura's chief economist said that an additional 1m tons of copper have not been factored into a lot of supply and demand balances.
Why are investors flocking to copper? April 5, 2024 If Chinese smelters agree collective production cuts, global supply will likely tighten significantly