BusinessWeek

BHP May Get $2 Billion For Potash Project

The world's biggest mining company, may attract investment of $2 billion from fertilizer makers as well as sovereign wealth funds in its Canadian potash project, according to Deutsche Bank AG.

Maybe diamonds aren't forever

Diamonds still dominate the $21 billion precious stone market, accounting for 90 percent of all sales, but for the first time in decades they have a little competition from the colored also-rans in the gem trade.

Russia's first-half gold output falls 2.4% to 79.2 tonnes

Russia's first-half gold output fell 2.4 percent to 79.2 metric tons, led by a decline at Kinross Gold Corp. (K)'s mine in the Chukotka region, the country's Gold Producers' Union said today in a statement.

Sunshine Oilsands begins offering shares in $605 million IPO

Sunshine Oilsands Ltd. will tomorrow begin offering shares in an initial public offering to raise as much as HK$4.69 billion ($605 million), the holder of Canadian oil-sand leases said.

Gold Bulls Expand as Billionaire Paulson Says Buy: Commodities

Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending.

BHP may sell $10 billion of smelters, mines, Deutsche Bank says

BHP Billiton Ltd., the largest mining company, may consider selling about $10 billion of aluminum, nickel and coal mines and smelters as it trims its portfolio, Deutsche Bank AG said.

Canada, Alberta to Outline Oil Sands Monitoring Program

The government of Canada and the province of Alberta will outline its program for monitoring the environmental impact of the oil sands industry, an Alberta environment ministry spokeswoman said.

BHP Billiton to Halt Bauxite Exploration at Guinea and rsquo;s Boffa Site

BHP Billiton Ltd. plans to halt bauxite exploration at its Boffa-Santou-Houda site in Guinea, the world’s biggest exporter of the ore, after prices for aluminum dropped, said Jean-Francois David, the company’s president in the West African nation.

Gold Falls in New York as Dollar’s Strength Trims Metal Appeal

Gold fell from a two-week high on speculation that a stronger dollar will curb demand for the metal as an alternative asset.

Gold, silver gain after reports that Iran made first nuclear rod

Jan. 2 (Bloomberg) -- Gold and silver gained after reports that Iran produced its first nuclear fuel rod, spurring investors to buy the precious metal as a haven. Gold for immediate delivery advanced 0.2 percent to $1,566.37 an ounce at 5:32 p.m. in...

Gold drops to 1-week low as Europe woes damp commodities demand

Dec. 27 (Bloomberg) -- Gold fell, declining to the lowest level in a week, on concern that Europes debt crisis may escalate, boosting the dollar and damping demand for commodities. Cash gold dropped as much 0.8 percent to $1,594.95 an ounce, the lowest...

Glencore ends $475 million proposal to buy Peru copper mine

Glencore International Plc, the biggest publicly traded commodities trader, ended a proposal to buy a majority stake in a South American copper project for $475 million, CST Mining Group Ltd. (985) said.

Iron Ore May Resume Fall as Demand Declines, Ord’s Arden Says

Iron ore, which has surged 24 percent this month, may resume a decline as steelmakers in China, the world’s biggest consumer, restrict output due to falling demand, according to Peter Arden, an analyst at Ord Minnett Ltd.

Gold Drops in London as Dollar’s Gain May Curb Investor Demand

Nov. 16 (Bloomberg) -- Gold fell in London as the dollar advanced against the euro, curbing demand for precious metals as an alternative investment. The dollar climbed as much as 0.8 percent against the euro.

Gold Falls as Dollar Rebounds on Italy’s Debt Concerns

Gold futures declined for the third time in four sessions as the dollar’s rebound reduced the appeal of the precious metal as an alternative asset.

Gold may extend gains above $1,700 as Europe woes spur demand

Oct. 26 (Bloomberg) -- Gold futures may extend an advance above $1,700 an ounce as concerns about Europe’s debt crisis spur demand for the metal as a protection of wealth. European leaders will hold an emergency summit today in a bid to reach agreeme...

Pig Iron’s pain proves boon for nickel miners

Oct. 27 (Bloomberg) -- Nickel, the second-worst performing metal on the London Metals Exchange in the past six months, is set to rebound as Chinese steelmakers lead a recovery in demand. Nickel’s 20 percent slump this year has made it cheaper than pi...

Hedge Funds Raise Bullish Bets Most in Two Months: Commodities

(For more commodity columns, click CMMKT.) Oct. 24 (Bloomberg) -- Hedge funds increased bullish bets on commodities by the most since August on mounting optimism the global economy will avoid another recession, boosting prospects for raw-materials dema...

Hong Kong starts trading bullion in yuan to tap ‘triple demand’

Hong Kong’s Chinese Gold & Silver Exchange Society, a century-old bullion bourse, will start trading gold quoted in yuan today, boosting the city’s status as an offshore hub for the currency.

Rusal Says Norilsk Buyback Is Void Without State Permission

Oct. 12 (Bloomberg) -- United Co. Rusal said a letter from Russia’s antitrust watchdog confirms that a planned share buyback by OAO GMK Norilsk Nickel can’t go ahead without consent from the state. The letter “confirms that the buyback is only po...

Copper Gains as Shrinking Asian Stockpiles Signal Steady Demand

Oct. 12 (Bloomberg) -- Copper rose in London as shrinking Asian inventories of the metal signaled steady demand from the region, which includes top global consumer China. Copper stockpiles in Asia monitored by the London Metal Exchange fell for a 21st...

European stocks, copper falls on debt concern; treasuries drop

Oct. 11 (Bloomberg) -- Stocks in Europe and copper dropped for the first time in five days after European Central Bank President Jean-Claude Trichet said the debt crisis threatens the financial system. Treasuries declined, while emerging-market stocks...

Copper Declines Most in a Week on Concern About Chinese Demand

Oct. 11 (Bloomberg) -- Copper fell the most in a week in London on concern about the outlook for demand in top global consumer China, where figures due this week may show slower growth in exports. Chinese export growth weakened to 20.5 percent in...

Copper traders turn most bullish in six weeks on China’s demand

Copper traders and analysts are the most bullish since August on speculation prices at a one-year low will spur China, the world's largest buyer, to build stockpiles.