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. […]
(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 […]
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, […]
(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 […]
The JSE GLDX ( Gold Miners Index) and JSE PLAT ( Platinum Miners Index ) have broken their bear downward trend and are starting their upward trend. The JSE GLDX has broken the 13,34 and 144 day moving average. The JSE PLAT Index has also broken the 13,34 and 144 day moving average. These to […]
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..