Glencore rewards shareholders as first half earnings hit record level
Glencore will pay out $1.18bn through dividends and share repurchases after surging metal prices helped drive first-half earnings to a record.
Glencore will pay out $1.18bn through dividends and share repurchases after surging metal prices helped drive first-half earnings to a record.
Turnover in the London housing market has fallen to its lowest level since the Global Financial Crisis ten years ago.
BHP Billiton paid out a record dividend as profits hit a four-year high on stronger prices and confirmed it’ll return the bulk of almost $11 billion in asset sales to investors.
Inal Henry, Head of Export Financing at RMB, unpacks the development of the massive Nacala Logistics Corridor, a 912km railway which will transport coal from the Moatize coal mine.
A United Nations probe into a deadly mine spill in Brazil said waste from a burst dam was toxic and steps taken by BHP Billiton Ltd. and Vale SA to prevent harm weren’t sufficient.
The steel industry executive who correctly predicted weakening Chinese demand three years ago is perplexed by the inability of the world’s biggest miners of iron ore to accept the new reality.
GS on iron ore: “Market fundamentals will reassert themselves sooner rather than later. Investors may consider this as a window to take short positions.”
Iron ore shipments from Australia are set to pick up in the second half on mine expansions from the largest suppliers and prices may average $45 a metric ton between July and December.
The biggest iron ore producers including BHP Billiton Ltd. and Rio Tinto Group are pursuing a flawed strategy by flooding an oversupplied market and they should slow down expansion plans.
The selloff that made Kumba Iron Ore Ltd. the worst-performing South Africa stock is poised to persist as a rout that pushed prices for the steel-making ingredient to 10-year lows deepens.