FTSE 100 risers: London miners climb blue-chip index as Vale shuts another mine March 21, 2019 London miners dominated the FTSE 100 this morning after Brazilian giant Vale said it was suspending production at another mine. Fresnillo led the charge of the metals producers, up 5.3 per cent, but Antofagasta, Glencore and Anglo American also made the top five risers on the index. Read more: Shares in miner Ferrexpo plunge after [...]
London miners dominate market rise after iron giant Vale cuts output March 18, 2019 London’s miners dragged the stock exchange upwards this morning after Brazilian iron giant Vale announced another output cut over the weekend. The company, which is in crisis after one of its dams burst leaving over 300 people dead or missing, said a court had ordered it to stop operating the Timbopeba mine in Minas Gerais [...]
Diamond sales fall at De Beers after unusually strong end to 2018, company reveals March 5, 2019 Rough diamond sales at De Beers fell marginally in the second cycle of the year, the company said today. The Anglo American-owned diamond miner and seller showed sales value down two per cent to $500m from the first cycle of the year. Read more: Diamonds aren’t forever: Sales drop off at De Beers Meanwhile, sales [...]
Anglo American chief executive doubles pay in successful year March 4, 2019 The chief executive of Anglo American sparkled last year, winning himself a hefty package which more than doubled his pay for the year, the company revealed today. Mark Cutifani took home £14.7m, £8m more than 2017, as the miner’s stock price jumped. Read more: Anglo American to resume operations in Brazil after fixing pipeline leak “Mark Cutifani’s [...]
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 [...]
Moody’s puts Vedanta on downgrade watch after deal which perplexed analysts February 4, 2019 Ratings agency Moody’s has lowered its outlook for Vedanta Resources, after a subsidiary paid $200m (£153m) for a stake in Anglo American. Shares plunged by nearly 18 per cent on Friday to 162.15 rupees after Vedanta announced the move, their lowest since 2016. Read more: Investors reduce Anglo American short stakes as company looks up The [...]
Anglo American to restart operations at Minas-Rio mine after fixing leaky pipeline December 21, 2018 Mining company Anglo American has announced that it will resume operations at its Minas-Rio iron ore mine in Brazil after fixing a leaky pipeline that has brought production to a halt. The FTSE 100 company said that it expects to report an underlying loss of $320m (£252.6m) as a result of the interruption, which lies at the lower [...]
Investors reduce Anglo American short stakes as company looks up December 13, 2018 Investors are offloading their short positions in the FTSE’s most bet-against mining stock as Anglo American starts looking up. Earlier this week the miner said it was expecting production to increase about two per cent more than previously forecast, as production of copper and diamonds increased. Costs will also be five per cent below what [...]
FTSE round up: Index drops on oil and mining share sell-off following fears of oversupply November 23, 2018 The FTSE 100 closed 0.14 per cent down this week after falling to 6,950.82, driven by a sell off in oil and mining shares. The biggest faller was silver and gold miner Fresnillo which saw a 6.98 per cent decrease to 746.4p as the company continued to feel the effects of being downgraded by Morgan Stanley [...]
Chinese shock leaves the FTSE 100 nursing losses after renminbi devaluation August 12, 2015 The FTSE 100 fell by 72 points yesterday as luxury goods and mining firms suffered from China’s unexpected devaluation of the renminbi. The Chinese devaluation, news of which broke after the FTSE closed on Monday night, saw Burberry shares open 12p down on the previous day at 1,595p, before falling throughout the day to [...]