Market Pulse - Commodities
IRC Lmtd. pays Petropavlovsk $10.3m following interims
Petropavlovsk was paid $10. 3m by IRC Limited, the Hong-Kong based explorer in which it holds a 31. 1% stake.
Glencore joins Fair Cobalt Alliance
The world's largest cobalt producer made an unexpected U-turn on Tuesday, giving its backing to artisanal miners in the Democratic Republic of Congo in a bid to assuage carmakers concerns around the ethics of its practices.
US and China hold phone call to discuss phase one trade deal
Officials from Beijing and Washington reiterated on Monday night their commitment to the phase one trade deal between their two countries.
Liberum stays at 'buy' on Taseko, sees share price doubling in 12 months
Analysts at Liberum reiterated their 'buy' recommendation and 125. 0p target price on shares of Taseko following favourable coverage on the copper miner's shares in the Mail on Sunday, telling clients that they expected the share price to double again over the next 12 months.
US and EU clinch 'mini' trade deal around Maine lobster
The Trump administration managed to haul in an unexpected catch, convincing the European Union to lift tariffs on Maine's lobster industry.
BofA stays at 'underperform' on Kaz Minerals
Analysts at Bank of America reiterated their 'underperform' recommendation and 450. 0p target price on shares of Kaz Minerals following the firm's second quarter results.
Polymetal teams up with SMT Scharf
Polymetal has teamed up with SMT Scharf Group for the development and testing of electric-powered vehicles for its mines.
Danske Commodities purchases 3.6GW British wind farm
Danske Commodities acquired Britain’s Dogger Bank3. 6GW offshore wind farm in a 15-year purchase, the company said on Monday.
Berkshire Hathaway buys into Barrick Gold, holds onto Apple
Shares of Barrick Gold were wanted ahead of the opening bell on Wall Street on the back of news that Berkshire Hathaway had taken a position in its stock even as it slashed its holdings across a swathe of the biggest US financial institutions.
Polymetal concludes installation of autoclave at Pox-2 construction site in Amursk
Polymetal has concluded installation of the world's largest autoclave at its POX-2 construction site at Amur, in the Russian Far East.
Berenberg nudges up target price on Hummingbird Resources
Analysts at Berenberg slightly raised their target price on precious metals miner Hummingbird Resources from 44. 0p to 50. 0p on Thursday after the group maintained its full-year guidance following an in-line second quarter of trading.
Genel Energy keeps interim dividend, books hefty impairment charges
Genel Energy reiterated plans to pay out a dividend for 2020 despite the weaker oil price environment and investments to bring its Sarta field online.
US trade deficit narrows sharply in June buoyed by auto exports
America's shortfall in trade on goods and services shrank sharply in June as exports bounced back at roughly twice the speed as purchases from overseas.
Sberbank structures first trade finance deal
Sberbank structured a trade finance deal with Egyptian authorities for the purchase of wheat, its first ever.
BofA sees gold hitting $3,000/oz., silver at $50/oz.
Strategists at Bank of America hiked their 18-month target for gold futures from $2,000/oz. to $3,000/oz. as governments continue to act to mend the damage from Covid-19, backstopped by central banks.
San Leon Energy invests $15m in ACOES owner
Independent oil and gas firm San Leon Energy will pour $15m into Alternative Crude Oil Evacuation System (ACOES) project owner, Energy Link Infrastructure.