ZUG, Switzerland OPEC nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's (GLEN.L) chairman said on Monday.Members of the Organization of the Petroleum Exporting Countries meet this week in Vienna to decide whether to extend output cuts to reduce oversupply.Glencore is among the mining companies that anticipate electric vehicles could have a much...
Canadian resources magnate Rob McEwen aims to list his company McEwen Mining Inc. on the S&P 500 in two to three years’ time to meet a rise he predicts in demand for gold as part of investor portfolios. So far, the only gold company listed on the S&P 500 is Newmont Mining Corp.“Our overriding goal is to get into the S&P 500,” Mr. McEwen said, adding he expected an increased appetite for exposure to gold in investment portfolios.
Mining giant Anglo American has suffered a hit to its Australian coal business in the wake of Cyclone Debbie. Anglo American reported a 9 per cent rise in overall production for the first quarter of 2017 compared with 2016 according to an update released on Monday. The miner said Cyclone Debbie in Australia had led to coal production losses in the last week of March and affected the rail network, which is expected to affect sales volumes in the second quarter.