JP MORGAN Mining News

Morgan, Sachs, Glencore have lawsuit against zinc price conspiracy dismissed

Two of the largest banks in the world and the biggest commodities trader have been found to be innocent of claims that they fixed zinc prices.

U.S. Senate reveals top banks ‘unfair advantage’ in physical commodities business

The two-year investigation concluded that Goldman Sachs, Morgan Stanley and JP Morgan have been manipulating commodity prices.

Five banks fined over $3bn in foreign exchange probe

These are the first cases to come out of a global probe into allegations of widespread rate-rigging in foreign exchange markets.

Swiss UBS faces fine over alleged precious metals trading wrongdoing

The bank, which is the world’s largest private lender, is also expected to announce an agreement regarding alleged collusion and manipulation in the foreign exchange market.

JPMorgan not leaving physical commodities: report

The U.S. largest bank still plans to perform"traditional” activities in commodities such as financing, hedging, trading warrants on the London Metal Exchange and the vaulting of precious metals.

Citibank acquires Deutsche commodities trading book

Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.

Barclays is the next big bank pulling out of commodities: report

The English bank is planning to sell large parts of its metals, agricultural and energy business.

Former JPMorgan commodities chief under federal probe

The probe was opened following a settlement with regulators that alleged JPMorgan manipulated power markets in the Midwest and California.

JPMorgan innocent of silver price-fixing claims- court

Investors failed to demonstrate the bank violated federal antitrust and commodities laws by having distorted silver prices.

JPMorgan gets $3.5bn after Mercuria buys its commodities unit

Deal places European trader among world’s top commodity titans.

JP Morgan about to close sale of $3.3bn commodities business with Mercuria

Swiss Mercuria, founded in 2004, has become the front-runner to buy the physical commodities unit of JPMorgan.

Buyers line up for JPMorgan’s $3.3bn commodity unit

The bank is willing to sell the business to one customer or break it down into various divisions.

Analysts expects several banks to follow JPMorgan commodities exit

Morgan Stanley and Goldman Sachs likely to be the next ones.

Mining the Deeps

While the mining industry was struggling with the impacts of the economic meltdown, one Canadian company, Nautilus Minerals, announced at the end of 2008 that it was ready to start mining the deep ocean floor. All Nautilus had to […]