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Metals & Mining Commodity News | Commodities News – Gold, Silver, Platinum

London Mining in Glencore pay dispute

Source: Financial Times, 22nd September 2014

Clash compounds problems facing the emerging producer at a time when the price of the commodity is lurching sharply lower

Read the full article on FT.com

LME Clear announces successful launch

London, 22 September 2014

LME Clear, the new clearing house of the London Metal Exchange (LME), announces its successful launch today, migrating 100% of the positions of LME members from previous clearer LCH.Clearnet Ltd to its own risk and clearing system, LMEmercury.

Read more: LME Clear announces successful launch

Iron ore sinks to fresh 5-year low

Source: Financial Times, 19th September 2014

Steel mills and traders in China are holding around half the normal inventory and have no plans to significantly restock, analysts say

Read the full article on FT.com

Chinese demand for gold slumps

Source: Financial Times, 18th September 2014

Chinese jewellery fabrication demand dropped 22 per cent to 351 tonnes in the first half of 2014 as consumers worked through the “extra gold purchases during the frenzy of 2013”

Read the full article on FT.com

Petra sells blue diamond for $27.6m

Source: Financial Times, 16th September 2014

Price achieved for the 122.52 carat stone, recovered at the Cullinan mine in June, was lower than top-end estimates before the sale

Read the full article on FT.com

HKEx, LME and LME Clear sign MOU with CCB

London, 15 September 2014

Hong Kong Exchanges and Clearing Limited (HKEx), HKEx Group companies the London Metal Exchange (LME) and LME Clear Limited, and China Construction Bank Corporation (CCB) signed a memorandum of understanding (MoU) on 11 September 2014 for strategic cooperation in the development of new products, joint publicity and marketing and other areas.  

Read more: HKEx, LME and LME Clear sign MOU with CCB

AngloGold abandons plans to break up

Source: Financial Times, 15th September 2014

South African gold miner had wanted to spin its international assets into a UK-listed company but investors were unhappy with the associated $2bn rights issue

Read the full article on FT.com

Australia iron ore sector steels itself

Source: Financial Times, 14th September 2014

Industry braces for further collapses following the demise of two junior miners due to a slump in prices that is piling pressure on high-cost producers

Read the full article on FT.com

Fresnillo targets gold with Penmont deal

Source: Financial Times, 12th September 2014

Silver producer to buy joint venture partner’s stake in Mexico project for $450m with goal of lifting its output to 750,000oz in 2018

Read the full article on FT.com

Paulson attacks AngloGold spin-off plan

Source: Financial Times, 11th September 2014

Hedge fund billionaire warns any benefits from restructuring of international assets would be outweighed by dilution from equity issue

Read the full article on FT.com

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