Fraught Mining Asset Sales Are Creating Opportunities $10 billion. $25 billion. The cash that analysts expected Rio Tinto and BHP Billiton to raise from asset sales just two years ago was being counted in the tens of billions. But it has not quite panned out that way. Caught between plunging commodity prices and a small…
The billion tonne question is raging. China’s tumult has been well publicised in recent weeks, but for coking coal and seaborne iron ore, the key question remains: will Chinese steel output ever trip through 1 billion tonnes per annum. If it does, continued output expansion by mining companies is arguably justified. But if it doesn’t,…
Surveying the Damage Monday’s China-led stock market sell-off (dubbed “Brutal Monday” by Reuters and “The Shanghai Shockwave” by City AM) was a horrendous day of losses for most stocks globally. But for the mining sector in particular, it was just the latest slump in a formidable, four-year bear market. Whilst it may be premature to…
Mining in Chaos Over China’s Currency Move China’s unexpected decision to trim the country’s official exchange rate twice in the last two days has sent shockwaves through the global economy, but one sector that is really grappling with the announcement is the world’s mining press. The policy move, which cut the value of the renminbi…
Anglo American set for further trouble, Liberum Capital believes… Mining investors have found a new market darling. It is not BHP Billiton’s spin-off, quirkily named South32, after the line of latitude connecting its mines south of the equator. Nor is it Rio Tinto, which surprised to the upside with its half-year results last week. It…
