Mining

A roller-coaster ride for markets this week and a perfect example of how important central bank communication (read US Federal Reserve) has become and how markets can move indiscriminately on changes in sentiment regarding the future of the highly accommodative monetary policy  (read Fed’s QE3), something that has supported the global rally and recovery hopes […]

This week’s hurdle proved more resilient, the FTSE100 index struggling to gain traction above 6,700, but we have made much progress. The move up from 6,600 was faster than expected, however, limited gains above 6710/15 for much of the week, all the while with support just 45pts below, suggests we may have had the sideways […]

There is a decoy on GCM Resources (LSE:GCM). In fact, this is an ominous trap for unwary traders who make decisions based on emotions. The dominant bias on the chart is southwards, and there is no end in sight right now. It is presumed that speculators are aware of the fact that a bias alternatively […]

Just one day after announcing a 300% increase in pre-tax profits and optimism that 2013 will be a better year operationally, Lonmin’s share price (LSE:LMI) took a hit when the company announced yet another labor-related problem at its Marikana mine.  Employees showed up for work, but refused to enter the shafts. Marikana had to suspend […]

The world’s third-largest platinum miner, Lonmin (LSE:LMI), announced its six-month results this morning.  The news was a far cry from the year-end results they published on 09 November 2012.  The thing that stood out the most last November was Chairman Roger Phillimore’s statement that “The publication of today’s results closes a painful chapter in Lonmin’s […]

How bold does a CEO have to be to say, “Our performance in the quarter reflects the results of the management action we have taken,” when the performance  was a net loss of $345 million? I’d say he’d have to be even bolder to make that statement especially when the company made a net profit […]

Today is 02 May 2013.  What a day it is for the mining industry in general and for Glencore (LSE:GLEN) and Xstrata (LSE:XTA). As we reported on 16 April, the lengthy process of the merger of Glencore International and Xstrata has been consummated as anticipated.  Finally. The new company, Glencore Xstrata plc, with an estimated […]

This new license will allow Vale (BOV:VALE5) to operate a rail terminal of Ponta da Madeira Valle (BOV:VALE5) reported on Monday that it had received an environmental license for operation (LO) of Ponta da Madeira rail terminal, in Maranhão, which was issued by the State Department of Environment. According to the statement, the terminal is […]

Shaft Sinkers (LSE:SHFT) is a support services supplier to the mining industry.  It is not currently highly capitalized at a mere £18.76 million, with its stock trading in the 40.0 pence range since October 2012.  Its share price on 27 April 2012 was 101.0 whilst on 27 April 2011 it had been at its high of […]

The mining sector has enough problems of its own without the publicity that BUMI (LSE:BUMI) and Eurasian Natural Resources Corporation (LSE:ENRC) have been providing lately. BUMI, conceived by Nathaniel Rothschild, has captured more in the way of headlines than in the way of investor confidence in the last 12 months.  A very public battle with […]