Glencore shares surge after FTSE 100 miner merger talks revealed Commodities The global mining landscape is bracing for a seismic shift after Rio Tinto and Glencore confirmed they are in talks regarding a potential merger. A tie-up between the two FTSE 100 titans would create the world’s largest mining entity, boasting a combined enterprise value of approximately £190bn. Glencore shares rallied nine per cent in early [...]
Will the price of gold keep going up? Economics The US-China trade war rumbles on. Investors are digging their trenches. The dollar is losing its force while the price of gold is going ballistic. A week ago, UBS made what some saw as a bold prediction that gold would reach $3,500 per ounce by December 2025. That milestone has already been hit. Scarred stockholders [...]
Oil prices plummet as Saudis lead supply drive Economics Oil prices are falling to their lowest close since 2021 as eight countries including Saudi Arabia and Russia surprised market leaders by announcing an increase to production. The shock decision by the OPEC+ alliance, delivered via a video conference on Thursday, came less than 24 hours after President Trump’s Liberation Day tariff announcements intensified global [...]
UK cracks down on London entity belonging to Iranian oil tycoon September 16, 2024 The British government has targeted a London-based entity of Iranian oil trading empire led by Hossein Shamkhani, as it steps up efforts to stop those sidestepping oil-trading restrictions. Bloomberg revealed last month the role Shamkhani plays in Iranian and Russian oil trading. Shamkhani’s father, Ali, served as a naval commander for the Islamic Revolutionary Guard [...]
Centamin set for £1.9bn takeover by gold mining giant Anglogold Ashanti September 10, 2024 The South African gold mining giant said Centamin was a "compelling strategic fit", highlighting the firm's Sukari mine in Egypt.
