Metals & Mining

Population Boom Will Drive Metals and Minerals Prices

Frank Holmes | |

Every new baby drives commodities demand.

Will Mining Stocks Fall Further?

Marin Katusa | |

Keep an eye on these metrics.

Arizona Sonoran Copper Raises C$35 Million, Including Strategic Investment by Rio Tinto

Edward Kim | |

Rio Tinto takes 7.2% stake.

Major Drilling Posts Strong Q3, Revenue Up 38%, EBITDA Up 110%

Equities Staff | |

Major Drilling is one of the world’s largest drilling services companies primarily serving the mining industry.

$1.2 Trillion Infrastructure Bill Means More Demand for Metals And Mining

Frank Holmes | |

After much anticipation, the U.S. House approved a bipartisan $1.2 trillion infrastructure spending package last week, sending it to President Joe Biden’s desk to sign. Although no single lawmaker got everything they wanted, I believe this bill is generally constructive news for the metals and mining industry, which will be tasked with supplying the critical minerals necessary to build and improve the nation’s roads, bridges, ports, power grid and so much more.

BHP Group Reports Best First Half Profit in Seven Years; Declares Record Interim Dividend

Reuters | |

BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China’s strong appetite for iron ore to support its infrastructure push kept prices elevated.

China’s reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to multi-year highs, while the COVID-19 vaccination push has brightened outlook for global trade this year.

Government Spending Package Includes $800 Million To Fund Rare Earths and Strategic Minerals Research

Reuters | |

The pandemic aid and spending package signed by U.S. President Donald Trump last Sunday includes more than $800 million to fund rare earths and strategic minerals research, spending that mining companies say will help counteract China’s dominance over the sector.

The $2.3 trillion, 5,593-page bill essentially codifies Trump’s executive orders on rare earths, a group of 17 minerals used to make magnets for electric vehicles, other green technologies and weapons.

Rio Tinto Narrows Field for CEO Search As It Tries To Repair Aboriginal and Community Relations

Reuters | |

Rio Tinto will look to a handful of external candidates in a narrowing field for its new chief executive, as the miner tries to win back investors dismayed by the blasting of an ancient Australian rock shelter, bankers and investors say.

The top priority for a new CEO will be strong stakeholder management skills, as the world’s biggest iron ore miner begins to repair its relationships with Aboriginal groups and navigates a host of government issues elsewhere, they said.

Some major mining executives have ruled themselves out, and there is not a long list of acceptable candidates with the skill set and appetite for the top job, according to interviews with a dozen investors and analysts.

ArcelorMittal Beats Third Quarter Profit Expectations on Improved Global Demand

Reuters | |

ArcelorMittal, the world’s largest steelmaker, reported third-quarter core profit above expectations on Thursday as the easing of COVID-19 lockdowns led to improved demand in all regions.

The company, which makes around 5% of the world’s steel, said core profit (EBITDA) fell 15% from a year earlier to $901 million, compared with an average expectation of $838 million in a company-compiled poll.

CEO Lakshmi Mittal said in a statement that steel markets had recovered from a very challenging second quarter, with particular improvement in profits in Brazil and its unit grouping South Africa, Kazakhstan and Ukraine.

Rio Tinto CEO To Step Down As Shareholders Demand Action Over Destruction of Aboriginal Rockshelters

Reuters | |

Miner Rio Tinto said on Friday its chief executive and two senior executives will step down amid mounting shareholder criticism of its destruction of historically significant Aboriginal rockshelters and the way it managed its response.

A process to identify a successor to CEO Jean-Sébastien Jacques was under way and he will continue in the role until a replacement is found or March 31 next year, whichever is earlier, the company said.

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