The break-up of OAO Uralkali’s potash marketing partnership may signal the death knell for plans by BHP Billiton Ltd., the biggest mining company, to spend as much as $15 billion to start producing the crop nutrient.
Driving northeast from Santiago, the road corkscrews toward the shark’s-grin skyline of the Andes Mountains. In winter, Santiago’s smart set plies this route, heading for virgin-powder days and pisco-sour nights at La Parva ski resort. Most have no inkling that in a high mountain valley just over the ridgeline, excavators the size of houses have sculpted the mountainside into a steeply terraced pit 1,800 feet deep, Bloomberg Markets magazine reports in its September issue.
Glencore International Plc, the commodities trader reported to have studied a bid for Eurasian Natural Resources Corp., would struggle to acquire the company because of its ownership structure, Citigroup Inc. said today.
Gold will extend losses as the U.S. economy improves, according to Citigroup Inc. and Morgan Stanley, which said the Federal Reserve’s surprise decision to hold stimulus for now will help prices only in the short term.