Michael Defensor is racing to mine and ship nickel from projects across the Philippines to plug the gap in global supplies left by Indonesia’s ore-export curbs.
Russia’s surprise interest-rate increase failed to stop the plummeting ruble. Another tool available to repair economic havoc caused by sanctions and falling oil prices: selling gold.
Australia estimates iron ore will trade at about $60 a metric ton as the biggest slump in the nation’s terms of trade since records began more than 50 years ago deepens the budget deficit.
South Africa’s gold mining companies have started a fightback against money lenders who they say are preying on employees and damaging labor relations.
Speculators boosted bullish gold bets to a three-month high on signs central banks will act to counter low inflation, reviving the allure of bullion as a hedge.
China’s central bank circulated a draft plan to ease restrictions on gold imports, said people with knowledge of the matter, in a move that may lead to lower prices in the world’s biggest market for bullion.
Gold futures climbed the most in five months as a rally for oil prices revived demand for the metal as a store of value. Silver was poised for the biggest gain in more than a year.
Deutsche Bank is winding down its physical precious metals trading business, it said on Thursday, moving to further scale back its exposure to commodities.
Canadian oil sands producers set a target to lower the amount of fresh water used in bitumen processing by 50% by 2022 in a bid to reduce harm to the environment, an industry group said.
China’s gold imports from Hong Kong rose for a third month as increasing jewelry sales countered weakening demand for the metal as an investment amid falling prices.
BHP Billiton Ltd. (BHP), the world’s biggest mining company, plans to take a scalpel to capital spending and costs to bolster cashflows as iron ore and crude oil prices plunge.
Copper futures fell for the third time in four sessions as demand concerns mounted after Japan unexpectedly sank into a recession and U.S. industrial production declined.
