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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

Freeport CEO sees banner years ahead after gains won in ‘battle’

17th December 2020 With a tumultuous decade almost behind him and the prospect of banner years ahead, the longtime boss of global miner Freeport-McMoRan has little interest in retiring just as cash looks set to roll in. “Our Freeport family, our Freeport team, has gone to battle together,” CEO Richard Adkerson,... 

SolGold faces rebellion from top shareholders

16th December 2020 SolGold faces a possible shareholder revolt as the mining heavyweights that backed the company and its huge Ecuadorian copper deposit grow increasingly frustrated by the management’s decisions. BHP Group is SolGold’s biggest shareholder and Australian gold major Newcrest Mining is No. 2, having... 

De Beers raises diamond prices for first time since pandemic

16th December 2020 De Beers raised diamond prices for the first time since the outbreak of global pandemic, signaling growing confidence in a rebound for the struggling industry. Prices increased by about 2% to 3% at the diamond giant’s final sale of the year last week, according to people familiar with the... 

Oil sands win favour on Wall Street after years in shale's shadow

14th December 2020 After years in the shadow of the US shale boom, the Canadian oil sands are emerging from 2020’s historic market crash with a slew of upbeat outlooks from Wall Street equity analysts. Morgan Stanley and Goldman Sachs Group Inc. are the latest firms to point out the industry’s ability to generate... 

Iron-ore rattled as crackdown plea from China mills spurs slump

14th December 2020 Iron-ore futures in Singapore tumbled from the highest since 2013 after a leading mills’ group in China stepped up its push for authorities in the top importer to investigate the raw material’s blistering rally. The China Iron & Steel Association called on the State Administration of Market... 

Gold steadies as investors track vaccine rollout, stimulus talks

14th December 2020 Gold steadied as investors tracked the deployment of the first Covid-19 vaccines in the US and the continuation of talks over a stimulus bill. The first deliveries of the vaccine are scheduled for Monday morning and the initial lot will be in all 50 states by Wednesday, according to Gustave... 

Trudeau hikes carbon tax, positions Canada to hit climate goal

13th December 2020 Prime Minister Justin Trudeau stepped up efforts to hit Canada’s emissions targets by 2030, pledging billions in new money to combat climate change and increasing in his marquee carbon tax. The measures, announced Friday in Ottawa by Trudeau and Environment Minister Jonathan Wilkinson, seek to... 

Copper-market cocktail means miners have rarely had it so good

11th December 2020 The world’s biggest copper miners are enjoying a rare bonanza, helped along by fallout from the coronavirus pandemic. That comes as copper reaches seven-year highs, currencies in major producing nations tumble, and low oil prices keep a lid on costs. The unusual combination of falling costs and... 

Coal mining accidents tests China’s control of its cheapest fuel

11th December 2020 At China’s biggest coal event in the mining hub of Shanxi, the industry’s top executives signed deals over three days for more coal than other nations typically use in a year. But the bustling deal-making signals deeper problems in a market vital to the smooth-running of the world’s... 

Commodities hit 6-year high with recovery boosting oil, copper

11th December 2020 The world’s commodities markets are staging a comeback as the global economy bounces back from the steepest downturn since the Great Depression. The Bloomberg Commodity Spot Index rose 1.3% on Thursday to its highest since 2014 with the world inching closer to a Covid-19 vaccine and the... 

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