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@MiningBookGuy Top Iron Miners' Cash Juggernaut Set to Survive Price Crash https://www.bloomberg.com/news/articles/2017-03-12/top-iron-ore-miners-cash-juggernaut-set-to-survive-price-crash #iron #ironore $BHP $FMG.AX $VALE $RIO.L "The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector."
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@MiningBookGuy “It’s difficult to be able to hope for a conversation in the short term” http://www.mining-journal.com/world/centralsouth-america/its-difficult-to-be-able-to-hope-for-a-conversation-in-the-short-term/ $BHP #Escondida #copper #MiningJournal "Majority owner BHP Billiton (AU:BHP) says mining will restart at the Escondida copper mine in Chile despite striking workers again rejecting its approach to resume negotiations."
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@Goldfinger Hmmm...."BHP Billiton plans to restart operations at its Escondida copper mine in Chile by using temporary workers after striking workers rejected an invitation to return to negotiations." $BHP $copper
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@MiningBookGuy Union at Chile's Escondida slams new offer from management http://www.reuters.com/article/chile-copper-idUSL2N1GW0IO (h/t @chrisjparrish) $BHP #Chile #Escondida #copper
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@MiningBookGuy Strike at BHP's Escondida copper mine in Chile to end this weekend http://www.afr.com/business/mining/copper/strike-at-bhps-escondida-copper-mine-in-chile-to-end-this-weekend-20170323-gv5al4 $BHP #Escondida #Chile #copper "The strike at Escondida, the world's largest copper mine, will end after workers decided to invoke a legal provision that allows them to extend their old contract, the union said on Thursday."
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@MiningBookGuy Escondida outcome seen as disaster for BHP as workers return http://www.reuters.com/article/us-chile-copper-labor-idUSKBN16V2SL #Escondida $BHP #Chile #Copper "The end of a historic strike at Chile's Escondida copper mine, the world's biggest, has left its owner, BHP Billiton, nursing an estimated $1 billion loss and probably in a weaker position for negotiations in a year or so, company and industry insiders said."
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@MiningBookGuy Majors back at Diggers conference http://www.mining-journal.com/events/conferences/majors-back-at-diggers-conference/ "THE return of two global majors to Diggers and Dealers is just one element of one of the forum’s most diverse programs in years." in August. #DiggersAndDealers #Australia #events $AAL.L $BHP #majors #MiningJournal
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@RocketRed @Brandon $bay property $Teck corp COMMANDER RESOURCES to $bay to $BHP so far nothing has worked
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@MiningBookGuy BHP official urges Chile copper industry to adopt sweeping changes http://mobile.reuters.com/article/idUSKBN1761OE (h/t @PiercePoints) $BHP #Chile #Copper #WorldCopperConference
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@Leon After three weeks of losses, #iron-ore has now erased all of this year's gains and fallen more than 20% from its February 21 peak. $RIO.L $BHP $FMG.AX www.fin24.com/Markets/Commodities/iron-slumps-into-bear-market-as-barclays-sees-further-losses-20170410
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@MiningBookGuy The Oil Giant Hidden in the World’s Biggest Mining Outfit https://www.bloomberg.com/news/articles/2017-04-10/paul-singer-s-bhp-gambit-shines-light-on-little-known-oil-giant $BHP #oil #shale Partial Quote: [For Chief Executive Officer Andrew Mackenzie, a Scottish-born geologist who spent two decades at BP Plc and joined the miner in 2008, there’s a lot at stake. For one thing, oil is one of the two commodities where he sees the most potential. “Our preference is still, medium-to-long-term, to grow in #oil and #copper,” he told investors in February. And oil accounted for about 20 percent of BHP’s underlying profit in the six months ending in December.] ... And interesting note on #PaulSinger attempted activism in relation to #BHP #oil here: https://www.bloomberg.com/gadfly/articles/2017-04-11/singer-s-bhp-tale-is-all-gold-franking-nonsense-and-err
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@MiningBookGuy “Elliott’s proposal would put this at risk” http://www.mining-journal.com/financeinvestment/companies/elliotts-proposal-would-put-this-at-risk/ "The world’s biggest miner BHP Billiton (AU:BHP) has rejected activist shareholder Elliott Funds’ proposal to demerge its US oil business and end its dual listing to resolve “value inefficiencies”." $BHP #oil #PaulSinger #MiningJournal More commentary on #Elliott Funds trying to shake things up at $BHP.
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@Leon With moar war on the horizon, #copper and #iron-ore ought to be in great demand with rising market prices. $LYC.AX should profit immensely if #China is blocking further supplies in #REE to the Western high tech industry. #Syria #NorthKorea $BHP $RIO.L $FCX
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@PamplonaTrader $BHP offered $300m for 70% of Cascabel last fall, which $SOLG.L rejected.
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@retailactivist Great summary of Elliott's letter to BHP's board: plan to unlock 50% or 46B of value https://investoralmanac.com/2017/04/14/elliotts-shareholder-value-unlock-plan-to-increase-50-or-46b-value-of-bhp/ $BHP
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from @retailactivist,
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@PamplonaTrader Kevin if @teevee spent more than 2 minutes looking at $SOLG.L and $CGP he'd realize that access to capital is the least of their worries. He'd realize that not only has Newcrest (which he says is having difficulty with this very kind of deposit in PNG) made a 10% strategic, but also has sponsorship from $GUY Guyana Goldfields. Too, the incredible upside at Cascabel has also compelled $BHP to offer $300M to earn up to 70% of the project. He says not to read too much into it but I think he means *HE* hasn't read much into anything. Also, why not ask Warren Irwin at Rosseau why he is buying 4% of $SOLG.L? He has been to site unlike some desktop critics. Does it seem $SOLG.L is having any difficulty raising capital? Also, does the stock chart look like price has been stagnating?
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@Picsou Good #FT Big Read piece on the resurgence of the mining sector and the turnaround of Lihir - https://www.ft.com/content/b84ba95a-1ae5-11e7-bcac-6d03d067f81f #gold #ironore #copper $NCM.AX $BHP $RIO.L $AAL.L $GLEN.L
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@hunter Chile copper output drops 23% in March on Escondida strike: government https://www.platts.com/latest-news/metals/santiago/chile-copper-output-drops-23-in-march-on-escondida-21591153 Minera Escondida $BHP Chile produced 378,261 mt of copper in March, down 23.1% from the year-ago month, as a strike at the world's largest copper mine bit into output, government data showed Friday.
1
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@anomalloy Major-General news from $MRS, plus $BHP, $MXSG, $SMT $GMV $AZ $TXG $NB $PVG, paid pumps at $FCC, $CZX, $VSN & $PPL, $EVM $LRA, $DVI, $POU, $MEI, $MED, $AGB, $CNX, $SVT, $BYN, $MLN, $AMX, $AZ, $RPM, $CXB, $WDG, $GRG, $MUN, $GG, $CAV halted, $ANG, $FEN
3
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@mike "On The Precipice Of A Spectacular Decline”: Axiom Warns Of A "Nightmarish Picture For Iron Ore Prices" $FMC $RIO $X $BHP http://www.zerohedge.com/news/2017-05-04/precipice-spectacular-decline”-axiom-warns-nightmarish-picture-iron-ore-prices
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@Goldfinger $BHP $FCX et al have officially given up the entire 'Trump Reflation' trade. Full circle. $copper $IronOre
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@Goldfinger 6+ month top completed in $BHP this week: http://cdn.ceo.ca/1cgmd6o-BHP_5.4.2017.png+ Now below levels it traded at the day before U.S. election. $IronOre
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@Picsou @Goldfinger what's interesting though is that #copper has not given up the reflation trade (yet?), it is more a concern for $FCX than it is for $BHP or $RIO.L assuming the iron ore rout does not get any worse (?).
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@NickZed Australia passes a 'tipping point' in energy crisis-AFR Glencore has warned that Australia has drifted past a "tipping point" of industrial energy "demand destruction" and that the nation has 12 months to re-establish reliability and affordability of its base load power capacity or risk permanent and unpredictable shifts in the shape of the economy. The commentary by the most senior Glencore executive based in Australia, global coal boss Peter Freyberg, comes as the future of the Swiss-based miner's Queensland copper mining and processing estate is being undermined by a concert of uncertainties over the availability and price of gas and electricity supplies. While Freyberg resisted our invitation for comment on the uncertain state of Glencore's copper business, Glencore's coal man seized the opportunity to express frustration that 15 years of failed governance had reduced one of the world's biggest energy exporters to a state of domestic shortage and paradigm-shifting pricing unpredictability. "We have to meet Australia's energy needs now, in five years, 10 years and 15 years. We can't rely on blue-sky thinking. There is an energy crisis in the world's largest exporter of coal, the second largest exporter of gas and a major exporter of uranium. We need real solutions. Unless we make decisions really quickly, and I mean in the next 12 months, that re-establish base load capacity then we have no chance of sustaining the economy in the shape that it is in now. "In the end the market will work its way to balance," Freyberg continued. "It will stabilise – but the wrong way and for the wrong reason. The inability to secure affordable base load supply means that the problem will be fixed by demand destruction. "We are beyond the tipping point in terms of industrial demand destruction. And when capacity is closed and plants are shut down, they don't come back. "As an aside," Freyberg added, "nationalising gas production is not the solution. "Making sure that the incredible resources in the ground are developed is a solution. Short-term intervention is not going to fix a problem. Until gas is drilled in NSW and Victoria we will be in deep, deep trouble." Being challenged Glencore's North Queensland copper business stretches from the legendary Mt Isa copper mines to a copper refinery and export facility at Townsville and it currently counts 3200 Australians as employees and $1.1 billion as its annual contribution to the state economy. But each arm of the Glencore business is being challenged by high energy prices and an inability to either secure gas supply contracts or to make any sort of bankable power price forecasts. Glencore is said to have taken the opportunity of Tuesday's prime ministerial visit to the company's Townsville copper smelter to offer a frank assessment of the state of national energy markets and the imminence of hard decisions that the current crisis is generating. For the record, the average price of power in Queensland through the March quarter more than doubled against the same period last year. To put firm numbers around that price increase, the average spot price of electricity in Queensland through the March quarter was $173.98 a megawatt hour. The March quarter average in 2016 was $80/MWh. The accounting of that average is telling. In January, while other state markets circled averages of $80/MWh, the Queensland average was $197.65/MWh. Through January 2016, Queensland's average price was $51.55/MWh. A wildly hot February saw Queensland's average price shoot up to $239.59/MWh, again about twice what it was the previous year. Through January and February this year there were at least 44 separate occasions when Queensland's generators pushed prices to the market maximum of $14,000/MWh. And a series of reviews of price peaks by the market regulator revealed that many of those peaks were unexpected and the result of generators removing capacity and then re-bidding back into the system. To be fair, the review findings were not consistent. The regulator also found that the integration of Queensland's generators with other state markets saw peak pricing migrate from NSW and South Australia into the Sunshine state. Perilous opportunism Nonetheless, many major industrial customers continue to maintain that Queensland's state-owned generators have been acting with enriching but perilous opportunism in pushing prices to the regulated ceiling when demand is high. It is understood that Glencore recently stopped importing copper anode to support cathode production at its Townsville plant because of those surging power prices. And the company is said to have baulked at investing something less than $50 million in a re-lining of its Mt Isa copper smelter because of uncertainty over the availability and price of gas. Pushed to confirm delays of reinvestment in the Mt Isa smelter and that Townsville had ceased importing feed-stock, the asset manager of Glencore's copper assets in North Queensland, Louis Chiat, said: "We have started to make decisions [in response]. Future investment decisions are [going to be] of a much bigger nature." Importantly, the fate of copper mining at Mt Isa does not necessarily swing on the economics of Glencore's copper processing chain with production able to be shipped directly to customers in a marketable concentrate. But like so many mature copper mines around the globe, Mt Isa faces a cost challenge given that its underground network has to reach ever deeper to extract ore of ever lower grades. The Glencore position is that the erosion of Australia's base load capacity caused by a policy preference for intermittent renewable options has left the national market critically exposed to peak-demand shortages. And Freyberg's forthright criticism completes an unwelcome trifecta for our federal and state governments. After power interruptions brought BHP Billiton's Olympic Dam to a halt for a second time in a month late last year chief executive Andrew Mackenzie warned the energy insecurity threatened new and existing investments and Australian jobs. Just 24 hours before the Freyberg broadside Rio Tinto's new boss, Jean-Sebastien Jacques, called for regulation of the Queensland power market because of the miner's inability to secure financially viable power prices for supply of one of its Queensland aluminium smelters. In March, Rio shut 14 per cent of its production at the Boyne Island smelter for want of an acceptable electricity supply contract. Rio generates 86 per cent of its own power for the Gladstone-based smelter but had been acquiring the balance of its needs from the spot market. A two-year effort to replace that spot exposure with contracted supply proved unsuccessful and, as a result, an equivalent quantum of Boyne production was closed. 'Absolutely wrong' That meant more than 100 Australians lost their jobs and Rio surrendered 80,000 tonnes a year of aluminium exports. It is worth digesting in full the transcript of Jacques's spiky post-annual general meeting contribution to the national energy debate. His frankness announces, with equal force, the depth of Rio's anxiety and the difference in style Jacques will bring to Rio. "I was in Canberra four weeks ago and we met quite a few government officials," he started. "The Queensland situation needs to be fixed. What's happening is absolutely wrong at this point in time." Jacques said the power price Boyne was paying "was so high that it didn't make any sense any more for us to produce". "As a result, 100 of our colleagues lost their jobs," he said. "You've got endless power capacity in Queensland and the regulation, the regulatory environment, doesn't work. I'm happy to be quoted on this one to say, it's time for the federal government to step in and to sort this one out. Because at the end of the day you can't say, on one side, you want to create jobs, create economic benefits in Australia, and [then] not sort out the power [supply], and it's absolutely wrong. "We had a very open conversation, very blunt conversation with the government, and the opposition on this one, that this has to be fixed for the benefit, not only Rio Tinto. "Forget about Rio Tinto for one minute here. It's for the benefit of the people in Queensland, for the short, medium, and long term. Power is essential. Power in Queensland needs to be fixed, and it's not a lack of capacity. It's a question of regulation here." $Copper $GLEN.L $RIO.L $BHP
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@NickZed Australia passes a 'tipping point' in energy crisis-AFR Glencore has warned that Australia has drifted past a "tipping point" of industrial energy "demand destruction" and that the nation has 12 months to re-establish reliability and affordability of its base load power capacity or risk permanent and unpredictable shifts in the shape of the economy. The commentary by the most senior Glencore executive based in Australia, global coal boss Peter Freyberg, comes as the future of the Swiss-based miner's Queensland copper mining and processing estate is being undermined by a concert of uncertainties over the availability and price of gas and electricity supplies. While Freyberg resisted our invitation for comment on the uncertain state of Glencore's copper business, Glencore's coal man seized the opportunity to express frustration that 15 years of failed governance had reduced one of the world's biggest energy exporters to a state of domestic shortage and paradigm-shifting pricing unpredictability. "We have to meet Australia's energy needs now, in five years, 10 years and 15 years. We can't rely on blue-sky thinking. There is an energy crisis in the world's largest exporter of coal, the second largest exporter of gas and a major exporter of uranium. We need real solutions. Unless we make decisions really quickly, and I mean in the next 12 months, that re-establish base load capacity then we have no chance of sustaining the economy in the shape that it is in now. "In the end the market will work its way to balance," Freyberg continued. "It will stabilise – but the wrong way and for the wrong reason. The inability to secure affordable base load supply means that the problem will be fixed by demand destruction. "We are beyond the tipping point in terms of industrial demand destruction. And when capacity is closed and plants are shut down, they don't come back. "As an aside," Freyberg added, "nationalising gas production is not the solution. "Making sure that the incredible resources in the ground are developed is a solution. Short-term intervention is not going to fix a problem. Until gas is drilled in NSW and Victoria we will be in deep, deep trouble." Being challenged Glencore's North Queensland copper business stretches from the legendary Mt Isa copper mines to a copper refinery and export facility at Townsville and it currently counts 3200 Australians as employees and $1.1 billion as its annual contribution to the state economy. But each arm of the Glencore business is being challenged by high energy prices and an inability to either secure gas supply contracts or to make any sort of bankable power price forecasts. Glencore is said to have taken the opportunity of Tuesday's prime ministerial visit to the company's Townsville copper smelter to offer a frank assessment of the state of national energy markets and the imminence of hard decisions that the current crisis is generating. For the record, the average price of power in Queensland through the March quarter more than doubled against the same period last year. To put firm numbers around that price increase, the average spot price of electricity in Queensland through the March quarter was $173.98 a megawatt hour. The March quarter average in 2016 was $80/MWh. The accounting of that average is telling. In January, while other state markets circled averages of $80/MWh, the Queensland average was $197.65/MWh. Through January 2016, Queensland's average price was $51.55/MWh. A wildly hot February saw Queensland's average price shoot up to $239.59/MWh, again about twice what it was the previous year. Through January and February this year there were at least 44 separate occasions when Queensland's generators pushed prices to the market maximum of $14,000/MWh. And a series of reviews of price peaks by the market regulator revealed that many of those peaks were unexpected and the result of generators removing capacity and then re-bidding back into the system. To be fair, the review findings were not consistent. The regulator also found that the integration of Queensland's generators with other state markets saw peak pricing migrate from NSW and South Australia into the Sunshine state. Perilous opportunism Nonetheless, many major industrial customers continue to maintain that Queensland's state-owned generators have been acting with enriching but perilous opportunism in pushing prices to the regulated ceiling when demand is high. It is understood that Glencore recently stopped importing copper anode to support cathode production at its Townsville plant because of those surging power prices. And the company is said to have baulked at investing something less than $50 million in a re-lining of its Mt Isa copper smelter because of uncertainty over the availability and price of gas. Pushed to confirm delays of reinvestment in the Mt Isa smelter and that Townsville had ceased importing feed-stock, the asset manager of Glencore's copper assets in North Queensland, Louis Chiat, said: "We have started to make decisions [in response]. Future investment decisions are [going to be] of a much bigger nature." Importantly, the fate of copper mining at Mt Isa does not necessarily swing on the economics of Glencore's copper processing chain with production able to be shipped directly to customers in a marketable concentrate. But like so many mature copper mines around the globe, Mt Isa faces a cost challenge given that its underground network has to reach ever deeper to extract ore of ever lower grades. The Glencore position is that the erosion of Australia's base load capacity caused by a policy preference for intermittent renewable options has left the national market critically exposed to peak-demand shortages. And Freyberg's forthright criticism completes an unwelcome trifecta for our federal and state governments. After power interruptions brought BHP Billiton's Olympic Dam to a halt for a second time in a month late last year chief executive Andrew Mackenzie warned the energy insecurity threatened new and existing investments and Australian jobs. Just 24 hours before the Freyberg broadside Rio Tinto's new boss, Jean-Sebastien Jacques, called for regulation of the Queensland power market because of the miner's inability to secure financially viable power prices for supply of one of its Queensland aluminium smelters. In March, Rio shut 14 per cent of its production at the Boyne Island smelter for want of an acceptable electricity supply contract. Rio generates 86 per cent of its own power for the Gladstone-based smelter but had been acquiring the balance of its needs from the spot market. A two-year effort to replace that spot exposure with contracted supply proved unsuccessful and, as a result, an equivalent quantum of Boyne production was closed. 'Absolutely wrong' That meant more than 100 Australians lost their jobs and Rio surrendered 80,000 tonnes a year of aluminium exports. It is worth digesting in full the transcript of Jacques's spiky post-annual general meeting contribution to the national energy debate. His frankness announces, with equal force, the depth of Rio's anxiety and the difference in style Jacques will bring to Rio. "I was in Canberra four weeks ago and we met quite a few government officials," he started. "The Queensland situation needs to be fixed. What's happening is absolutely wrong at this point in time." Jacques said the power price Boyne was paying "was so high that it didn't make any sense any more for us to produce". "As a result, 100 of our colleagues lost their jobs," he said. "You've got endless power capacity in Queensland and the regulation, the regulatory environment, doesn't work. I'm happy to be quoted on this one to say, it's time for the federal government to step in and to sort this one out. Because at the end of the day you can't say, on one side, you want to create jobs, create economic benefits in Australia, and [then] not sort out the power [supply], and it's absolutely wrong. "We had a very open conversation, very blunt conversation with the government, and the opposition on this one, that this has to be fixed for the benefit, not only Rio Tinto. "Forget about Rio Tinto for one minute here. It's for the benefit of the people in Queensland, for the short, medium, and long term. Power is essential. Power in Queensland needs to be fixed, and it's not a lack of capacity. It's a question of regulation here." $Copper $GLEN.L $RIO.L $BHP
0
from #copper,
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@Iwantmymoneyback 🔮 Says some big boy is going to make an offer $ERD can't refuse. June- september drilling will be game changing in this under explored area of Mongolia. There have been several take overs in Mongolia lately. $ERD could be next. We will know soon enough. $TECK $TRQ $RIO.L $GLEN.L $BHP
1
from #cdb,
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@MiningBookGuy BREAKING: Canadian miners among suitors for BHP's Chile copper mine: sources http://www.reuters.com/article/us-bhp-billiton-divestiture-chile-idUSKBN1882G0 $BHP #Chile #CerroColorado #copper "Canada's Teck Resources, Lundin Mining and HudBay Minerals are among a number of suitors that have submitted bids for BHP Billiton's Cerro Colorado copper mine in Chile, people familiar with the matter said. The Anglo-Australian miner expects the asset to fetch as much as $800 million, the people said, declining to be named as the process is private." $TCK $LUN $HBM
3
from #index,
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@PamplonaTrader I've heard the $NSU chatter. But $TK seems to check all the boxes. We know $BHP is also watching.
5
from @pamplonatrader,
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@MiningBookGuy BHP to drop 'Billiton' in major rebranding to shore up local support http://www.abc.net.au/news/2017-05-15/bhp-to-drop-billiton-in-major-rebranding/8525600 $BHP #Australia Partial Quote: "The move to recapture BHP's status as a household name rather than a multinational giant comes as BHP defends itself from the activist US fund manager #Elliott Associates, which is urging the company to abandon its dual listed structure in Australian and Britain."
1
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@racker $BHP ditching 'Billiton' in $10 million rebranding move http://www.mining.com/bhp-ditching-billiton-10-million-rebranding-move/
0
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@staffpro @wannabeinvestor $CCO $NXE $BHP if all the experts say the cost to mine is north of 65$ all-in why is anyone mining why isn't everyone just buying spot? Suitors and current producing companies included.
1
from #nxe,
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wannabeinvestor $BHP only mines uranium as byproduct at a copper mine. Why don't uranium producers for a cartel like OPEC is beyond me.
0
from #nxe,
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@tommy Elliott demands overhaul of $BHP management ahead of new chairman appointment http://www.telegraph.co.uk/business/2017/06/14/elliott-demands-overhaul-bhp-management-ahead-new-chairman-appointment/
1
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@Ty $BHP WEEKLY is very interesting from a chartology perspective. http://cdn.ceo.ca/1ck4v2g-Screen%20shot%202017-06-15%20at%202.23.18%20PM.png+
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from @ty,
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@racker Ken MacKenzie named $BHP Billiton's next chairman http://on.mktw.net/2rwXCr2 A veteran of global packaging company Amcor Ltd, MacKenzie joined BHP's Board last year
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@jmm @pete $solg.l $cgp $bhp The Minister of Mining announced that BHP, will invest about USD 41 million in the country's mining sector. "This is positive news that shows that international financial markets rely on Ecuador. They rely on tax conditions, stability and legal security, and so they decide to invest in Ecuadorian mining activity, "he said. - New Mining Concessions created more than USD 415 Million in Exploration. Newcrest Mining $ncmgy invested more USD 40 million in the Cascabel, operated by SolGold SOLG. - FDI is important for Ecuador. "The government of President Lenin Moreno (The new president of Ecuador) is working on permanent and transparent dialogue with communities; Technical training of human talent in the areas of influence of mining projects. - National Economic groups/firms benefits from this economic activity. i.e. Fruta del Norte gold project ($LUN) work with "Mas Errazuriz" from Chile and "Semaica" from Ecuador, explained Córdova. key contractor for Lundin Gold($LUN) for the construction of tunnels.
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@PamplonaTrader @robo the only thing Warren would confirm is that he has lost faith in $SOLG.L management and that he doesn't agree with their strategy of gradually selling to $NCM.AX and at a discount. He also says Brooke has a like mind and understands how to create value for $CGP. I think there is alot more to this story and on both sides. In my view, Mather has been playing a bit of defense since spurning $BHP in favor of $NCM.AX. In the UK, disclosure rules require reporting when more than 3% of the company is acquired. In Canada, that threshold is much higher at 10%. Perhaps the reason $SOLG.L delayed TSX listing was to prevent $BHP or one of the other majors from sneaking up on them. I think maybe there is a reason why they are pursuing TSX listing only after $NCM.AX (who is required to align itself with $SOLG.L's BoD) established a 14.54% toehold on $SOLG.L. Now that $SOLG.L has consolidated control of its share registry and its balance sheet well capitalized, they could have it in their minds to play some offense. I think it's time they go after $CGP to consolidate control of Cascabel and also their presence in Ecuador. On the other side, I think Warren and Brooke made a brilliant move. $CGP needed to recapitalize the balance sheet and they also needed a stronger shareholder base. Brooke achieved both these things AND increased our exposure to Cascabel via 5% shareholding in $SOLG.L. $CGP is now even more enticing to a major like $BHP. By acquiring $CGP, they can elbow their way into Cascabel. Instead of showing their hand after accumulating just 3% of $SOLG.L, they can grab ~19% economic interest in Cascabel in one move by taking out $CGP. As for Warren... this move was a masterstroke! Having gotten sick and tired of Mather shrugging him off, I think he positioned himself in $CGP to get the attention of the $SOLG.L BoD. $SOLG.L would be stupid not to take out $CGP and consolidate ownership of Cascabel... and when they do, they will have to offer Warren a seat on their Board. Genius!
25
from #solg.l,
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@Leon China's "Silk Road" demand for critical minerals is accelerating! Swiss Mining Conference June 2017 @02:55:20 $TCK $BHP $RIO.L $LYC.AX $ALK.AX $SBGL High Quality Assets in Short Supply! #REE #scandium #hafnium #cobalt #graphene #copper #zinc #platinum #palladium www.youtube.com/watch?v=mK4NbU-fXQc+
2
from #index,