John Meyer News
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Lansana Conte, the former dictator of Guinea, once held sway over an asset that mining companies craved: the world’s largest undeveloped iron ore deposit, valued today at as much as $50 billion.
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AngloGold Ashanti Ltd. has appointed Srinivasan Venkatakrishnan, its finance head, as chief executive officer to lead the third-biggest producer of the metal.
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AngloGold Ashanti Ltd. would make a “seamless” transition if it chose Srinivasan Venkatakrishnan, its finance head and joint interim chief executive officer, to lead the third-biggest producer of the metal after gold prices plummeted, according to two analysts.
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U.K. stocks advanced for a second day, led by commodity producers, as manufacturing rose more than forecast, Alcoa Inc. began the U.S. earnings season with profit that beat projections and Chinese inflation eased.
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Bellzone Mining Plc, an iron-ore producer in Guinea that sells to Glencore International Plc, slumped to a record low in London trading after trimming an output forecast at its Forecariah mine in the African nation.
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Glencore International Plc made a 3.5 billion-pound ($5.49 billion) bid for Viterra Inc., Canada’s largest grain handler, The Sunday Telegraph reported, without saying where it got the information.
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Copper may fall on speculation that the euro will weaken further, bolstering the dollar, as Europe’s sovereign-debt crisis threatens to crimp Germany’s economic rebound.
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President Barack Obama’s announcement yesterday of a six-year, $476 billion surface transportation reauthorization bill, as part of his 2013 budget, is the latest demonstration of a longstanding presidential propensity for transportation projects.
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Gold traders are the most bearish in more than a year on mounting speculation that improving economic growth from the U.S. to China will curb demand for this year’s worst-performing precious metal.
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About 15,000 striking South African truck drivers will return to work tomorrow after employers agreed to raise wages by at least 10 percent, as gold miners were fired for being part of an unauthorized stoppage.
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