Mining

The world’s third-largest platinum miner, Lonmin (LSE:LMI), announced its six-month results this morning.  The news was a far cry from the year-end results they published on 09 November 2012.  The thing that stood out the most last November was Chairman Roger Phillimore’s statement that “The publication of today’s results closes a painful chapter in Lonmin’s […]

How bold does a CEO have to be to say, “Our performance in the quarter reflects the results of the management action we have taken,” when the performance  was a net loss of $345 million? I’d say he’d have to be even bolder to make that statement especially when the company made a net profit […]

Today is 02 May 2013.  What a day it is for the mining industry in general and for Glencore (LSE:GLEN) and Xstrata (LSE:XTA). As we reported on 16 April, the lengthy process of the merger of Glencore International and Xstrata has been consummated as anticipated.  Finally. The new company, Glencore Xstrata plc, with an estimated […]

This new license will allow Vale (BOV:VALE5) to operate a rail terminal of Ponta da Madeira Valle (BOV:VALE5) reported on Monday that it had received an environmental license for operation (LO) of Ponta da Madeira rail terminal, in Maranhão, which was issued by the State Department of Environment. According to the statement, the terminal is […]

Shaft Sinkers (LSE:SHFT) is a support services supplier to the mining industry.  It is not currently highly capitalized at a mere £18.76 million, with its stock trading in the 40.0 pence range since October 2012.  Its share price on 27 April 2012 was 101.0 whilst on 27 April 2011 it had been at its high of […]

The mining sector has enough problems of its own without the publicity that BUMI (LSE:BUMI) and Eurasian Natural Resources Corporation (LSE:ENRC) have been providing lately. BUMI, conceived by Nathaniel Rothschild, has captured more in the way of headlines than in the way of investor confidence in the last 12 months.  A very public battle with […]

There has been perpetual massive sell-off on Petropavlovsk shares (LSE:POG) and this is a scenario that is expected to continue. It is unwise to look for bullish signals in this market right now (the bull’s supremacy is non-existent). One only grimaces at someone one sees (otherwise one is suffering from a mental condition). What would […]

Xstrata plc Chief Executive Officer Mick Davis has agreed with Glencore International plc to not take up the six month role of Chief Executive Officer and Executive Director of Glencore Xstrata plc (“Glencore Xstrata” or “the Combined Group”) following completion of the merger. Consequently Mr Davis will step down from Xstrata plc upon completion of […]

It’s been a 14-month distance that Glencore (LSE:GLEN) and Xstrata (LSE:XTA) have run, but the finish line is now within view as China’s Ministry of Commerce (MOFCOM) has approved the merger of the companies.  Thus the last and final obstacle to the merger’s completion has been removed.  The share price of Glencore was up 3.22% […]

Last week, on 09 April 2013, we published an article under the headline “Mining Stocks Make Major Gains.”  In that article we cautioned that “It’s going to take a steady stream of good news from the mining companies and commodity pricing in general for the F3MNG index to pass the 20,000 mark, which it has […]