U.S. tariffs “unjustified”, Britain’s May tells Trump on call
The leaders spoke for the first time since the announcement in a 30-minute call and agreed to discuss the issue further at the G7 summit in Canada later this week.
“The economics of some of these projects has changed,” he said. “I think for the next two years, 18 months perhaps, we will just wait and see how things develop.”
Consulting firm says the top 40 global mining firms earned a record profit of $133 billion last year driven mainly by iron ore, however their market capitalization fell by 25%.
At the moment the draft legislation requires mining companies to disclose on a project-by-project basis what they pay local officials in foreign countries.
There are "growing signs" that Outer Harbour will take precedence over BHP's massive Olympic Dam project and the greenfield Jansen potash venture in Canada.
The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will finally find its way to the inboxes of shareholders today.
Ruchir Sharma, head of emerging markets at Morgan Stanley, makes one of the most bearish statements yet on the end of the so-called commodity supercycle.