PT BPMS - News & Events
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Rio Tinto finds one of Canada’s largest diamonds
TORONTO – Rio Tinto announced it has unearthed one of Canada’s largest-ever, gem-quality rough diamonds at its Diavik diamond mine in the remote Northwest Territories, a 187.7-carat stone called the Diavik Foxfire. The gem, now being showcased at Kensington Palace in London, will later be ... read more
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Vale to end Manitoba nickel refining in 2018
Brazil's Vale (NYSE:VALE) on Thursday announced it will shutter its nickel smelting and refining operations in Canada's Manitoba province in 2018. The operations were originally set to end this year, but the government stepped in to extend work for at least another three years reports Reuters. Mining ... read more
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‘Bleak’ copper seen needing 17% drop to force deeper cuts
Copper could slide a further 17% by next year, plumbing fresh lows and forcing “shell-shocked” producers to make much deeper output cuts as consumption growth stalls in China, according to Ed Meir, an analyst at INTL FCStone. Demand in the world’s biggest user won’t expand next ... read more
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Iron ore bludgeoned to record low in Asia
Iron ore contracts in Asia slumped to records amid speculation that mills in China are reining in steel production as they battle losses, slumping prices and tighter credit, hurting demand for the raw material that’s mainly shipped from Australia and Brazil. Futures sank as much as 3% to 327.5 ... read more
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Gold climbs from 5-year low as silver snaps 15-day losses
Gold rose from a five-year low amid speculation that investors have already factored in the likelihood that the Federal Reserve will raise interest rates next month, with minutes from the policymakers’ latest meeting underscoring that expectation. Silver climbed after a 15-day losing run. Bullion ... read more
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Chinese savers turn to gold as rest of the world exits holdings
Even as investors shed gold holdings almost everywhere else in the world, Chinese savers like Hu Jingjing are buying. Stung by a $5 trillion stock-market collapse, an overbuilt property market and a devaluation of the yuan, Chinese investors are adding to bullion holdings that have already made ... read more
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India signals higher aluminum import tax, stoking Vedanta rally
India is considering as much as doubling the levy on aluminum imports to counter supplies from China, according to a Mines Ministry official, stoking a rally in the shares of producers Vedanta, Hindalco Industries and National Aluminium Co. The proposal will be put forward for discussions with India’s ... read more
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Shareholders give Keaton Energy the go-ahead
JOHANNESBURG – An overwhelming 99.99% of shareholders in Keaton Energy have voted in favour of two separate transactions, the Moneybox Option Transaction and the Rutendo Flip Transaction, that could see the coal miner’s headline earnings per share (Heps) skyrocket. The Moneybox Option Transaction ... read more
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Iron ore price drop near record low 'self imposed'
The price of iron ore fell to within shouting distance of all-time lows on Wednesday as worries about oversupply continue to dog the market and steel prices in top consumer China fall to record lows. On Wednesday the benchmark 62% Fe import price including freight and insurance at the Chinese port of ... read more
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Aluminum climbs as Alcoa shrinks capacity on China export deluge
Aluminum advanced after Alcoa Inc., the largest U.S. producer, announced reductions in smelting and refining capacity, the latest response to a flood of Chinese exports that have created a global surplus and driven prices to the lowest level in more than six years. The metal used to make everything ... read more
