Aluminum producer Novelis hits pause on $945 million US IPO
Novelis had planned to sell 45 million shares for $18 to $21 each, and Hindalco would have owned about 92.5% of the company after the IPO.
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Gold price up over 1% on Fed rate cut optimism
Traders are currently pricing in about a 59% chance of a Fed rate cut in September, according to CME FedWatch.
Nevada King Gold drill testing scores high grades
Atlanta is on the site of a past-producing open-pit gold mine where Standard Slag produced 110,000 oz. of gold and 800,000 oz. of silver.
MinRes to sell minority stake in Onslow haul road for $864 million
The Onslow iron ore project is a joint venture with giant steelmakers China Baowu, POSCO and Advanced Micro Controls.
China’s unusually large copper stockpiles fuel demand concerns
Stockpiles of the metal held in Shanghai Futures Exchange warehouses ended last week well above 300,000 tonnes.
Traders are desperate for copper deals and miners are cashing in
Recent moves by cash-flush energy traders are raising tensions and sparking a scramble for contracts.
Glencore said to weigh selling stake in Kazakh miner Kazzinc
The company has already sold zinc assets in Peru, and some of its smaller copper operations.
Iron ore price hits seven-week low on softening China steel demand, higher supply bets
Iron ore futures extended their decline to a fifth straight session on Wednesday.
Rusal in talks to mine bauxite in Sierra Leone
Rusal already has operations in neighboring Guinea.
