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Kenneth Mondero

Shell Drills New Gas Discovery in Malaysia

17 Apr 2014 @ 09:10
Royal Dutch Shell (LSE:RDSA) (LSE:RDSB) successfully drilled a new gas discovery off the coast of Malaysia, the petroleum giant announced today. In a statement, Shell reported it encountered 450 metres of gas column after drilling Rosmari-1 to a depth of 2,123 metres, 135 kilometres off the coast of Sarawak state, in the island of Borneo. The well is located within Block SK318, which is...

BHP Billiton Raises Outlook for Iron Ore and Coal Outputs

16 Apr 2014 @ 09:04
Anglo-Australian oil and mining firm BHP Billiton (LSE:BLT) is raising its outlook for its iron ore and coal outputs for the 2014 fiscal year, BHP Billiton’s Chief Executive, Andrew Mackenzie said, Wednesday. In a statement, Mackenzie, who will be in his first year as CEO of BHP Billiton on May 10th, said the company is raising its expected output following record iron ore and coal production...

Christine Hits Rio Tinto’s Iron Ore Business

15 Apr 2014 @ 08:57
Global mining giant Rio Tinto (LSE:RIO) revealed Tuesday morning its iron ore production fell on account of “seasonal weather patterns” affecting its Australian mines. In its first quarter report for 2014, the London-listed firm produced 66.4 million tonnes (Mt) of iron ore, six per cent lower than its output in the last quarter of 2013. Production was affected by Category 3 tropical cyclone...

Glencore Xstrata Sells Copper Mine to Chinese Consortium

14 Apr 2014 @ 10:03
Glencore Xstrata (LSE:GLEN) is selling its copper mine in Peru to a consortium of Chinese companies, the giant mining firm reported authorities earlier today in London. The FTSE 100 firm said in a statement, it is selling its Las Bambas copper mine project to three Chinese firms for US$5.85 billion in cash, plus reimbursement of capital expenditure and other costs, beginning this year until...

Vedanta: Oil and Gas Output Rises; Mining Produce Falls

10 Apr 2014 @ 09:07
London listed mining firm Vedanta Resources, as previously announced, has released its production results for its last quarter and the full year, ahead of a conference call to be attended by senior management at 9:00 GMT today. Vedanta, a diversified natural resources miner with interests in silver, lead, copper, zinc, iron ore, aluminum, power, and oil and gas, saw a drop of 18% in copper...

UK Manufacturing Data Boost British Pound

08 Apr 2014 @ 11:53
The Pound Sterling ticked upwards after the Office for National Statistics released today, production index for February 2014 that exceeded economists’ estimates. Data gathered by ONS showed total production output increased by 2.7% in February 2014 compared to that a year ago, led by the manufacturing sector, that saw a rise of 3.8% – the biggest increase since February 2011. According...

World Bank Cuts China, Asean Growth

07 Apr 2014 @ 10:35
World Bank sees a downtrend growth in China’s and other South East Asian economies even as it foresees an accelerating global growth in the next three years. In its April release of the East Asia and Pacific Economic Update, World Bank expects growth in China in 2014 and 2015 to be at 7.6 percent and 7.5 percent, respectively. In 2013, the world’s second largest economy grew by 7.7...

Quarterly Reports: Who’s In, Who’s Out?

15 Aug 2013 @ 09:28
It’s that time of the year again for publicly-listed firms to submit their reports that show how well (or how bad) they performed. This time, it’s the second quarter finish. Talvivaara Mining At first glance, one can safely assume that Talvivaara (LSE:TALV) did not come out a winner six months since January of this year. Net sales reduced by nearly two-thirds during the April – June period...

BP Oil Spill Fund Almost Depleted

30 Jul 2013 @ 13:50
Still months away from the deadline to settle claims for loss of earnings due to the infamous Gulf of Mexico oil spill, the embattled BP plc (LSE:BP.) said today that the US$20-billion Deepwater Horizon Oil Spill Trust fund has only US$300 million left and the oil giant expects that the remaining balance will be utilised by the third quarter of this year. In a statement earlier today...

Barclays To Raise £5.8 Billion in New Shares

30 Jul 2013 @ 11:32
Barclays plc (LSE:BARC) announced earlier today it will have a rights issue to raise funds needed to fill the gap as a result of new capital quota mandated by the Prudential Regulation Authority (PRA). In a statement, the British bank said it will raise £5.8 billion worth of new shares for its existing shareholders at a ratio of one ordinary share for every four existing ordinary shares at 185...
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