Glencore swung to a net loss of nearly $5 billion last year on tumbling raw-material prices and promised to sell more assets than planned this year to further shore up the mining and commodity-trading group’s finances.
China is trying to rekindle its influence in Myanmar by building a deep-water port, in an early test for the incoming government in balancing local objections against relations with the country’s biggest economic partner.
A total of 36 people are presumed dead following three explosions at a coal mine in the Arctic town of Vorkuta, Russian officials told local news agencies.
Sibanye Gold is buying many of South Africa’s aging platinum deposits on the cheap, betting it can replicate a strategy that helped turn a spinoff of struggling old mines into one of the world’s top gold producers.
Copper prices pared losses following a sharp rally in the price of oil.
Indonesian officials are teaming up with the country’s anticorruption agency to overhaul a system for collecting timber royalties that potentially has caused billions of dollars in state losses.
Brazilian police said they would seek “qualified homicide” charges against Samarco company officials allegedly responsible for a catastrophic dam failure at a mine on Nov. 5.
Chemours Co., the performance chemicals company spun off from DuPont Co., swung to a loss in the December quarter as it booked $88 million in restructuring charges.
Companies are buying more conflict-free tin, tungsten and tantalum from the DRC as they face stricter reporting requirements about the source of their minerals.
Copper futures posted their biggest gain in nearly three weeks Monday as equities and oil rose and Chinese market sentiment received a boost.
Another major chunk of cash from Chinese investors into a struggling Australian coal producer shows why coal prices will stay low for long.
Mining giant Anglo American outlined a more aggressive restructuring plan after suffering a $5.6 billion loss in 2015 as a global rout in commodity prices punished the costly mines it operates around the world.
Anglo American has added more details to its plans to shrink the business and cut costs. But all investors really care about is action.
Moody’s downgraded Anglo American’s credit rating by three notches to junk status from investment grade.
Freeport-McMoRan, seeking to reduce debt, said it struck a deal to sell part of its stake in the Morenci copper mine on the Arizona-New Mexico border to Sumitomo Metal Mining, one of the mine’s other owners, for $1 billion.
Investors are piling pressure on Anglo American to move more quickly on a plan that would see it sell off a huge chunk of its mines and cut more than half of its workforce.
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German industrial conglomerate Thyssenkrupp AG swung to a first-quarter loss, hurt by weakness in the steel and materials businesses as well as high tax expenses.
The mining giant lowered its dividend and slumped to an annual loss, effectively conceding it had misread the strength of Chinese demand.
The Anglo-Australian miner has introduced a new dividend policy, shifting toward a payout linked to earnings. That looks a sensible move given the continuing commodities downturn.