Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
The world’s largest mining companies are planning to spend over $244 billion on expansions to 2015, reports Bloomberg Television’s “The Pulse.”
Despite Glencore Xstrata’s (LON:GLEN) CEO Ivan Glasenberg’s recent call for austerity in the industry to end an oversupply in mineral markets, top miners are reportedly set to spend just 2.4% less than in the previous three years.
Only in Australia, home of giant mining companies BHP Billiton (ASX, LON, NYSE: BHP) and Rio Tinto (ASX, LON: RIO), business investment rose last quarter driven by strong mining spending, according to the Bureau of Statistics.
“The capital spending numbers confirm mining investment isn’t headed for a sharp decline in coming quarters,” Katrina Ell, an economist at Moody’s Analytics in Sydney, was quoted as saying last month.
After shelving projects worth about $68 billion last year, BHP —the world’s No.1 mining company— decided in August to go ahead with a $2.6 billion investment in its Jansen potash project in Canada.
And Rio Tinto, the world’s second biggest producer of sea-traded iron ore after Brazil’s Vale (NYSE: VALE), is injecting a further $5 billion into its Australian operations to take annual capacity to 360 million tonnes.
Image from Wikimedia Commons.
2 Comments
Ding Dong Fong
I am sure that Cat will reap the biggest share of the expansion. They have so much to offer and most all of it is made in the USA> That is why it is on the top of the $$.
freddy mande mukumbi
Mande Mukumbi Freddy
12, Avenue Salvias/Bel-Air, C/Kampemba
Téléphone: +243 816975999/+243 971567123
E-mail: [email protected]
Monsieur/Madame le Directeur des
Ressources Humaines.
Date: 21/09/2013
Object candidature au poste d’Opérateur de l’excavatrice
annonce Excavator Operator
Monsieur le Directeur,
Votre annonce pour le poste d’operateur de l’excavatrice, à retenu toute mon attention.
Titulaire d’un diplôme de graduat en théologie,
département des droits canon et interprétation, diplôme d’Etat des humanités pédagogiques et 3 mois au centre de formation FRT de la Gécamines, siège de Kambove/Kakanda 1999.
En 2011 jusqu’à présent, comme formateur polyvalent des
engins lourds de mine tels que : Pelle Hitachi 1900, Dump Truck Hitachi
EH1700, ADT cat.740&Bell B40D, Loader cat.966H, Dozer cat.D9R, Backhoe, Compactor et petits véhicules à la société Mining Company Katanga (MCK/Trucks)
De 1999 à 2011, comme Operateur polyvalent des engins
lourds de mine, à la société de transport minier et puis chez MCK/Trucks.
Maitrisant les procédures d’opérations, rigoureuse,
organisée et ayant un gout de prononcé pour la communication, je saurai
efficacement assister l’équipe des Operateurs (petites annonces) de votre société.
Vous trouverez ci-joint mon CV détaillant chacune de mes expériences.
Dans l’attente de vous rencontrer, je vous prie d’agréer,
Monsieur le Directeur, l’expression de mes salutations distinguées.
Mande Mukumbi Freddy