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Investors call for climate disclosures in company accounts

18th September 2020 Climate change will have a major affect on companies’ profits and the value of their assets, so its impact should be reflected in their accounts. That’s the conclusion of investors managing more than $100-trillion. The money managers and pension funds want companies to publish their 2020 annual... 

Giant Glencore coal mine faces threat as fund refuses backing

18th September 2020 Glencore’s plans for a giant new coal mine in Australia’s Bowen Basin may suffer a setback after key stakeholder UniSuper Management said it won’t support the project. The A$80-billion pension fund told its investment partners that it won’t support the A$1.5-billion Valeria project as the... 

Cameroon seeking to build $3bn dam to export electricity

18th September 2020 Cameroon will build a $3-billion hydropower plant as part of an ambitious plan to make the central African nation an exporter of electricity by 2035. The 810 MW Grand Eweng project on the Sanaga river, a joint venture between the government and the US-based energy company Hydromine, is the fifth... 

Iron-ore confronts ‘turning point’ as futures battered yet again

17th September 2020 Iron-ore is taking a beating amid mounting signals the tightness in the seaborne market that hoisted prices to multiyear highs is easing as leading miners boost shipments and stockpiles in China swell. “It’s now a turning point,” said Ban Peng, an analyst at Maike Futures Co. “Recent exports... 

Newmont CEO sees gold 'elevated', but will keep plans grounded

17th September 2020 The world’s biggest gold producer sees the price of the precious metal remaining “elevated” as governments continue pandemic stimulus spending, but don’t expect that to change Newmont’s focus on fiscal “discipline” any time soon. Gold skyrocketed to record heights above $2 000 an ounce in... 

Top miner BHP sees profit in a world speeding up climate action

16th September 2020 BHP Group, a major industrial polluter, says it will benefit most from a global shift toward faster and more dramatic measures to address climate change, and aims to profit from doing so itself.The top miner, which plans to reduce emissions attached to its own operations, will drive the... 

Canadian gold miner shrugs off coup to boost output in Mali

15th September 2020 Canada’s B2Gold is expanding its gold-mining operations in Mali, undeterred by a military coup and a growing Islamist insurgency in the West African nation. Mali’s military ousted President Ibrahim Boubacar Keita last month in the country’s second coup in less than 10 years. So far, the... 

Australia aluminum sector in fight for survival, industry warns

15th September 2020 Australia’s aluminum smelters are being priced out of the global market due to high energy costs, with closures looming unless they can find a pathway to cheaper power, according to the head of an international producer body. The warning comes as smelters across the globe are under pressure from... 

BP says the era of oil-demand growth is over

15th September 2020 BP said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most... 

Rio backed CEO after blasts, then watchdog investors revolted

14th September 2020 By the time Rio Tinto Group’s chairman, Simon Thompson, and non-executive directors talked on a late-night conference call Thursday, they’d spent a chastening two weeks in the bull’s-eye of hardening investor attitudes toward social and governance issues. Dozens of meetings with shareholders and... 

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