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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.

Brazil prosecutors target final Samarco dam settlement this year

23rd July 2021 A final settlement between Brazilian authorities and the Samarco iron-ore venture can be reached this year, bringing legal certainty to owners Vale and BHP six years after a devastating tailings dam collapse. That’s according to federal prosecutor Carlos Bruno Ferreira da Silva, who said in an... 

Platinum giants eye solar power as green answer to blackouts

23rd July 2021 The world’s biggest platinum miners are ramping up plans to build renewable energy plants to free them from power outages that have plagued South Africa for more than a decade and to reduce their carbon footprint. Sibanye-Stillwater, the No. 1 platinum miner, Impala Platinum Holdings and Anglo... 

South America politics are bullish for copper, Freeport says

23rd July 2021 Policy uncertainty in Peru and Chile, which account for about 40% of global copper production, is supportive of future prices of the metal as producers balk on pulling the trigger on investments, according to Freeport-McMoRan. Speaking to analysts Thursday, CEO Richard Adkerson said the shifting... 

Record US coal shipments to China highlights Australia's pain

22nd July 2021 China’s import ban on Australian coal is proving a boon to U.S. producers. On June 28, the Frontier Unity bulk vessel left the port of Newport News, Virginia with a 136 400-t cargo bound for steelmakers in China. It was the biggest shipment of its kind from a US east coast port, according to... 

Mining boss sees fervor calming with Peru leftist to take office

21st July 2021 Peru’s mining industry is hopeful of avoiding the kind of drastic measures that would stifle investment and future production when Pedro Castillo takes office in the world’s No. 2 copper producer. While the president-elect may have spoken of taking some extreme measures during the campaign, he... 

BHP is said to mull oil exit as miner retreats from fossil fuels

20th July 2021 BHP Group is considering getting out of oil and gas in a multibillion-dollar exit that would accelerate its retreat from fossil fuels, according to people familiar with the matter. The world’s biggest miner is reviewing its petroleum business and considering options including a trade sale, said... 

Zimbabwe says it was given Kuvimba stake to compensate farmers

20th July 2021 Zimbabwe’s government said it was given a stake in Kuvimba Mining House worth $250-million to help compensate white farmers for the seizure of their land two decades ago. The announcement of the donation will deepen controversy around Kuvimba, the ownership of which is disputed. The government... 

Assmang calls force majeure on manganese alloys in South Africa

19th July 2021 Assmang issued a notice of force majeure on manganese alloys production from its facilities in KwaZulu-Natal province, South Africa, according to an email from Rorie Wilson, an alternate director at the company. The mining company declared force majeure to customers last week due to civil unrest... 

Vedanta calls off consent plea after investor feedback

16th July 2021 Vedanta Resources has halted an attempt to change the terms on $2.2-billion of existing dollar-denominated notes that would have allowed the group to add more debt, following feedback from investors. The India-focused commodities giant announced Friday that it was calling off its solicitation to... 

Greenland scraps all future oil exploration on climate concerns

16th July 2021 Greenland dropped all plans for future oil exploration on environmental grounds, saying the price of extraction was “too high". The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. While the decision to scrap planned... 

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