Kazakhstan President Nursultan Nazarbayev said he expects “serious” output from the nation’s largest oil deposit this year after waiting almost half his 23 years in office for the $48 billion project to start.
OZ Minerals Ltd. will consider selling a majority stake in its planned A$3 billion ($2.7 billion) development of Australia’s largest unmined copper deposit after receiving approaches from potential partners.
Aurubis AG is joining researchers CRU and Wood Mackenzie Ltd. in reporting higher scrap supplies this year as more old cars, washing machines and factory waste become available with economic growth rebounding.
Japanese trading house Sumitomo Corp., which has stakes in smelters from Brazil to Australia, forecast aluminum will swing into a deficit next year for the first time since 2006 as lower prices accelerate output cuts.
Paul Sankey, whose oil-industry forecasts earned him the top ranking the past three years in Institutional Investor’s survey, joined Wolfe Research LLC after quitting his senior oil-analyst job at Deutsche Bank AG.