BHP rebuffs Elliott as first-half profit hits three-year high

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BHP Billiton Ltd. rejected a new activist call for a corporate overhaul and joined rivals in boosting investor returns as first-half profit rose to a three-year high. The world’s biggest miner raised interim dividend payments 38 percent to beat estimates as underlying earnings rose by 25 percent to $4.1 billion, according to a Tuesday statement. […]

Signs of thaw in South Africa mine fight as Ramaphosa starts

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(Bloomberg) — South African mining companies agreed to postpone a legal challenge to the government’s controversial new industry rules after President Cyril Ramaphosa said he’s committed to finding a solution to the dispute. The presidency held talks with the Chamber of Mines lobby group following Ramaphosa’s state-of-the-nation speech Friday night, both sides said in statements late […]

Amplats announces first dividend in 7 years, plans no big projects this year

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JOHANNESBURG, Feb 19 (Reuters) – Anglo American Platinum (Amplats), the world’s top platinum producer, announced its first dividend in seven years on Monday as full-year headline earnings more than doubled and said it was not committing capital to major projects in 2018. Amplats’ investment stance highlights the fragile state of platinum mining in South Africa, […]

Deripaska takes on Potanin as mining tycoons battle in court

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(Bloomberg) — A deal that kept the peace at Russia’s biggest mining company for more than five years is starting to fray, leaving three billionaires fighting over the next move. Attorneys for Oleg Deripaska, Vladimir Potanin and Roman Abramovich faced off in London court on Friday in a conflict triggered by Abramovich’s desire to sell his […]

Mainstream media acknowledges China will likely compel Saudi’s to sell oil in RMB, causing major hit to dollar and Petrodollar

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In an interview on CNBC on Oct. 11, economist Carl Weinberg told the business network that China is going to compel Saudi Arabia to sell them their oil in the Yuan currency, which will have a serious consequence to the dollar and the Petrodollar system.
Beijing is likely to “compel” Saudi Arabia to sell crude oil in yuan, and others will follow, according to the chief economist and managing director at High Frequency Economics Carl Weinberg. This will hit the US dollar, he says. In an interview with CNBC Weinberg said China has become a key player in the oil market since overtaking the US to become the world's largest importer. Saudi Arabia has “to pay attention to this because even as much as one or two years from now, Chinese demand will dwarf US demand,”Weinberg told the media.
“I believe that yuan pricing of oil is coming and as soon as the Saudis move to accept it — as the Chinese will compel them to do — then the rest of the oil market will move along with them,” he added. A..