Aim-listed miner Atalaya brings the original Rio Tinto copper plant to target production December 19, 2016 The Aim-listed group that took over the original Rio Tinto copper mine in southern Spain has brought it up to its target output in "record time", Atalaya Mining said today. Atalaya's Proyecto Riotinto reached its target capacity of 9.5m tonnes per annum (mtpa) during a single run of 10 consecutive days this month, treating on average 28,685 dry metric tonnes [...]
BP to pour almost $1bn into “world-class” West African gas hub in Mauritania and Senegal with Kosmos Energy December 19, 2016 Blue-chip oil major BP has said it will invest $916m (£733m) in gas exploration in West Africa through a partnership with American firm Kosmos Energy. BP will take a 62 per cent interest in Kosmos' exploration blocks in Mauritania and a 32.5 per cent working interest in its Senegal blocks. The 33,000 square km of acreage [...]
Royal Dutch Shell offloads Australian aviation fuel business in £200m deal with Viva Energy December 19, 2016 Royal Dutch Shell has signed an agreement to sell its Australian aviation business to Viva Energy for around $250m (£200m). Viva Energy, which is controlled by European energy trader Vitol Holdings, bought Shell's other downstream activities in Australia in 2014 and sells Shell-branded fuels and lubricants. The company will "continue to supply aviation customers with [...]
Brewin Dolphin snaps up asset manager Duncan Lawrie for £28m December 19, 2016 FTSE 250-listed investment manager Brewin Dolphin has snapped up a UK private client investment management business for £28m. Duncan Lawrie Asset Management (DLAM) has around 1,000 client relationships and manages funds of £735m, Brewin Dolphin said this morning. On a pro-forma basis Brewin Dolphin's total group funds under management will increase to £36.1bn. The acquisition was financed [...]
Oil prices: Brent crude and West Texas Intermediate crude lift on Libya production halt and expectation of tighter market December 19, 2016 Production halts at two of Libya's major oil fields and anticipation of tighter crude supply next year lifted oil prices this morning. Libya's National Oil Company yesterday stopped the relaunch of production at its two biggest oil fields after a militia threatened to block the crude from reaching the market. The fields, known as El Feel and [...]
Bank Junction: All vehicles except buses and bikes to be banned from notorious collision spot in trial scheme from April December 15, 2016 Cars, taxis and all other vehicles except buses and bikes will be banned during weekdays at Bank Junction in an experimental scheme from next April. From Monday to Friday between 7am and 7pm only cyclists, pedestrians and buses will be able to move through the junction, which has become one of central London's most notorious [...]
Petrofac’s share price suffers after warning of “challenging” trading year, despite profits being unaffected December 15, 2016 Petrofac's share price closed down two per cent today to 892.5p after the firm said a "challenging" year of deferrals and cancellations had hit order intake at its main engineering unit. The oil and gas services provider's stock traded down more than four per cent during the day, despite Petrofac's reassurance that full-year net profits [...]
BAE Systems to boost top UK cyber security talent as a third of graduates recruits to train in countering digital threats December 15, 2016 Almost a third of the 235 graduates joining BAE Systems next year will be hired to work in the firm's cyber security arm as digital threats to government and businesses soar. The blue-chip defence giant said the new emphasis in its graduate programme was prompted by an online survey it conducted with business heads, in [...]
Oil prices: Brent crude and West Texas Intermediate prices rise as markets adjust to US interest rate hike and dollar rally December 15, 2016 Oil markets stabilised today after sharp falls before and after yesterday's decision to raise US interest rates from 0.5 per cent to 0.75 per cent. Brent crude, the global benchmark, was up 0.7 per cent to $54.29 a barrel, while US sweet crude rose 0.3 per cent to $51.17. On Monday, Brent crude hit a temporary [...]
FTSE 100 miners Fresnillo, Randgold Resources and Polymetal fall as gold prices slump to 10-month low December 15, 2016 Shares in FTSE 100 gold miners were battered this morning as prices of the yellow stuff fell to a 10-month low. A dollar rally pushed spot gold prices down 1.23 per cent to $1,128.85 an ounce this morning, after the US Federal Reserve yesterday raised US interest rates from 0.5 to 0.75 per cent and [...]
