Gold price erases gains with yields rebounding on stimulus approval
Yields are in the rise again on approval of the $1.9 trillion covid relief bill, as well as promising jobs data.
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BlackRock says gold ‘failing’ as equity hedge, faces risks
BlackRock says that right now gold isn’t working well as a hedge against either stock moves or inflation risks, although it was against the dollar.
Shell names former BHP CEO chair
Andrew Mackenzie will succeed Charles Holliday who will step down on May 18 after serving six years in the role.
Copper wobbles mask ongoing demand strength, top supplier says
“In the medium term, as renewable energy and electro-mobility agendas accelerate, the demand for copper will go up, and that is the most permanent trend,” says Chile’s Energy and Mining Minister.
Vale approves list of board candidates
Shareholders will vote on the new board in an assembly on April 30.
LME to make improvements to electronic pricing during ring closure
The London Metal Exchange will make changes to its electronic system for closing prices to make it more efficient during the suspension of open outcry trading due to the pandemic.
Contractor asks Australia to review asset sale by China’s Tianqi Lithium
MSP Engineering asks the Foreign Investment Review Board to review a sale of Tianqi’s Australian lithium business to nickel miner IGO after Tianqi refused to pay it for constructing a battery-grade lithium processing plant in Western Australia.
BHP says acquisitions unlikely near-term given high commodity prices
The company will focus on exploration and wringing more value out of existing assets
Glencore chairman Tony Hayward to step down by 2022
Announcement heralds a changing of the guard at the company, with long-serving chief executive Ivan Glasenberg due to step down in June.