Mining bosses to discuss safety after accident which killed hundreds February 24, 2019 A group of leaders from some of the world’s biggest mining companies will meet this week to discuss safety after a tragedy in Brazil which is thought to have killed over 300 people. Chief executives from Anglo American, BHP, Antofagasta, Glencore and Barrick Gold, among others, are expected to meet on the fringes of the [...]
Acid spill near Glencore mine kills 20 February 22, 2019 A truck transporting acid to a mine owned by Glencore in the Congo has killed around 20 people after colliding with two minivans. The truck carrying sulphuric acid crashed with the vehicles around 31 miles from the Mutanda copper and cobalt mine in the Democratic Republic of Congo at 6pm on Wednesday evening, a spokesperson for [...]
Congo cobalt mine takes chunk out of mining giant Glencore’s full-year earnings February 20, 2019 Mining giant Glencore’s shares were on the up this morning as it announced rising adjusted profits, despite missing analyst estimates and taking a huge 41 per cent hit net income hit from costs relating to its copper and cobalt mine in the Democratic Republic of Congo (DRC). The firm also announced a $2bn (£1.53bn) share [...]
Revealed: Final cost of ‘botched’ Garden Bridge project comes to £53.5m February 13, 2019 Backers of the failed Garden Bridge project are under fire after the "galling" costs of the scheme were revealed to have spiralled north of £50m. The Garden Bridge Trust, which managed the project since November 2015, was accused of “squandering public money” on the ill-fated venture, after Transport for London admitted that the project racked [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
FTSE risers and fallers: Exporters rise after pound weakens January 30, 2019 A weaker pound boosted Britain’s biggest listed companies today after MPs voted against an extension to Article 50 , and supported the Prime Minister’s plan B for Brexit. The FTSE 100 rose 1.58 per cent to 6,941.63 as its many exporters saw an increase in investor confidence. Read more: Vale takes £1bn hit as it sacrifices output [...]
FTSE risers and fallers: FTSE 100 falls one per cent as global growth concerns hit stock markets January 22, 2019 Stock markets across the world have fallen today on heightened fears of a global growth slowdown. Warnings by the International Monetary Fund and the United Nations that the US-China trade war could accelerate the slowdown yesterday weighed heavily on equities as the FTSE 100 fell more than one per cent. The mining sector, reliant on [...]
UK dividends hit record-breaking high in 2018 January 21, 2019 UK dividend payments rose to a record £99.8bn last year driven by rising profits and better than expected special dividends. British American Tobacco accounted for almost one fifth of the increase in UK dividends as it paid out an additional £900m over the course of 2018, entering the UK top five for the first time, according [...]
China could turn to Indonesian imports as coal mines shut after accident which left 21 dead January 18, 2019 A collapsed coal mine which left 21 dead in China’s Shaanxi province could force the country to ramp up coal imports as production is shut down in two counties. Coal mining has been halted for at least a month in all private mines in Shenmu county where the roof collapsed at the 0.9m tonnes per [...]