Asset manager at JPMorgan, Neil Gregson, says mining companies should pursue more takeovers as escalating costs prompt them to slow spending on expansions.
Xstrata Plc (XTA), the world’s fourth- largest copper producer, said its Tintaya mine in Peru is running normally after community protests that led to four deaths and prompted authorities to declare a state of emergency.
BHP Billiton Ltd. (BHP), the world’s biggest mining company, will lose the right to proceed with the $33 billion Olympic Dam copper-uranium expansion in Australia if it doesn’t start work by the end of the year, pressuring the board to approve the project as commodity prices decline.
Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods. Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales.
Xstrata Plc (XTA), the world’s fourth- biggest copper producer, risks missing a 2016 target to begin extracting about $60 billion of minerals from its project in the Philippines because of opposition from the Catholic Church.
Yanzhou Coal Mining Co. (1171) is among companies in talks to buy Vale SA (VALE5)’s stake in an Australian coal mine for more than A$500 million ($503 million), said people with knowledge of the matter.
Harmony Gold Mining Co. (HAR), the third- largest African miner of the metal, may boost output by 150,000 ounces in the fiscal year ending June 2013 as the company starts new projects, Chief Executive Officer Graham Briggs said.
At a time when hedge funds are reducing bullish silver bets by the most in two years, analysts predict a rally as manufacturing expands from China to the U.S., boosting demand for the precious metal most used in industry.
Arch Coal Inc. (ACI), the fourth-largest U.S. producer of the fuel, is seeking buyers for several of its thermal-coal mines in the U.S., which together may fetch $600 million or more, said people with knowledge of the matter.
