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

Debt sale may tell if investors can stomach South African glut

7th July 2020 It could prove to be the bond auction that swamped the South African market. Demand at weekly sales of fixed-rate bonds has been well below average since the National Treasury raised issuance by 34% in May. Now it’s increasing the amount again, and the question is whether investors have the... 

Bill Gates-backed company to hunt for cobalt near Glencore mine

7th July 2020 A startup backed by a group of tycoons including Bill Gates plans to use data-crunching algorithms to search for cobalt near a Canadian nickel mine owned by Glencore. Kobold Metals has acquired rights to an area of about 1 000 km2 -- roughly the size of New York City -- in northern Quebec,... 

Arctic diesel spill caused $2bn damage, Russia says

7th July 2020 Russia’s ecological watchdog said the diesel spill from a tank owned by MMC Norilsk Nickel in May caused 148-billion rubles ($2-billion) of damage in the Arctic. The vast majority of the damage was to waterways that are linked to the Kara Sea, according to the report from the Federal Service for... 

EVs are starting to buoy the global metals market

7th July 2020 The market gloom over the metals that will power the cars of the future is starting to lift. Supply overhangs and then the coronavirus pandemic had crushed short-term prospects for the minerals used to make rechargeable batteries. But new government commitments to green transport in China and... 

Hundreds of coal companies got $170m in US virus aid

7th July 2020 Coal companies received at least $170-million in small business loans under the US government’s coronavirus relief programme, according to data released Monday. Ramaco Resources of Kentucky, JRL Coal of Georgia and Knight Hawk Coal of Illinois were among the 449 coal companies that received... 

Africa’s biggest investment takes shape under Islamist threat

7th July 2020 Dozens of soldiers clutching AK-47s and grenade launchers watch over roaring bulldozers on the white sand beach that meets a tropical turquoise sea. They’re guarding Africa’s biggest investment: a $23 billion project to export Mozambique’s natural gas from an area increasingly besieged by an... 

Pandemic helps Russia tighten its grip on a key strategic metal

2nd July 2020 As the coronavirus pandemic pummeled demand from key customers in the auto industry, Russia’s biggest mining company quietly tightened its grip on the palladium market. MMC Norilsk Nickel was already the No. 1 miner of the metal used in autocatalysts, but the crisis has allowed it to gain market... 

Commodity freighters are shrugging off Covid-19. For now

1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

Hydrogen to fuel giant mining trucks in green shift by Anglo

1st July 2020 Anglo American is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year at Anglo American... 

After taking out $1 800, gold investors focus on Fed’s next step

1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... 

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