Iron ore price soars as China covid curbs eased despite surge in cases
Sentiment was already upbeat before China announced the relaxed covid-19 curbs, despite a surge in new case numbers.
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Oil to zinc prices soar after China eases some covid restrictions
Almost all major commodities traded higher following China’s move to reduce the time that travelers and close contacts of infected people must spend in quarantine.
Glencore, Chad creditors agree in principle on terms of debt treatment
The deal will be the first completed under a framework created by the Group of 20 major economies and the Paris Club in late 2020 to help poor countries weather the covid pandemic.
China has links to dozens of Canadian miners tied to critical minerals
Chinese firms have been involved in 89 announced acquisitions and investments in Canadian metals and mining companies in the past decade, according to Bloomberg data.
Ford, GM in talks with Posco Chemical on battery metal hubs
GM is investing $35 billion to make its lineup fully electric by 2035, while Ford is plowing $50 billion.
Hindalco profit sinks on high costs, plans to raise $124 million
Hindalco’s costs surged 24% during the quarter, with power expenses almost doubling.
Rio Tinto’s long-awaited deal comeback is stuck in limbo
Rio has struggled to win investor support for the Turquoise Hill deal, forcing it to offer unusual terms to the most stubborn holdouts which appeared to be enough to close the deal.
Indian miners seek higher import tax on aluminum, zinc, copper products
The government should raise import taxes to 10%-15% on several aluminum products, including scrap to 10% from 2.5%.
Vedanta says state revenue share would make Barmer oil asset unviable
The government has said it is entitled to increase its revenue share from the block by 10%, having recently extended the contract for the Barmer asset by 10 years.
