China is expected to begin trading in crude oil futures within the year, a senior government official said on Wednesday, as the world's second-largest oil consumer and crude buyer aims to increase its say in oil pricing.
Base metals miner HudBay Minerals is looking at expanding its asset base in Peru as it seeks to create a new hub that replicates the successes enjoyed at its mines in the Canadian province of Manitoba, the company's top executive says.
It hasn't been long since Caterpillar Inc looked like the typical resident of the Rust Belt. Having misjudged how deep the U.S. economy would decline, the world's largest maker of construction machinery reduced its workforce by 33,000 people worldwide in 2009, closed plants and posted lower profits.
Zinc miners are betting a long-running global supply glut of the metal used in steel making will turn into a deficit over the next five years as old mines run dry, sparking massive investment in new projects.
Spot gold prices retreated from two-week highs on Tuesday after being repulsed by the $1,700 per ounce level. Losses continued in New York trade after hours on the back of the March options expiry where bullion was last trading at $1,683 an ounce .
The country's sprawling steel sector, which has cut 150 million tonnes of steel production over the past three years, was "far from achieving its tasks" amid Beijing's supply-side reforms, the association reports.