Goldman Sachs warned on Friday that benchmark iron ore prices could slump further due to a growing supply surplus. » Read More
JOHANNESBURG, Dec 8- Anglo American will sell more assets, suspend dividends until the end of 2016 and whittle down its business divisions to three from six in the face of severe commodity price falls, the mining company said on Tuesday. Anglo said it would cut its assets by 60 percent, reduce its workforce to 50,000 from 135,000 and form three divisions: De Beers for...
Anglo American announced restructuring steps including plans to consolidate into three business units, sell more assets and suspend dividends.
Barry Norris, founder and CIO of Argonaut Capital, discusses the mining sector and says the managers of these companies need to work out how to run a commodities company in a bear market.
CNBC's Geoff Cutmore discusses the latest economic data from Russia which has received support from the mining sector.
Veteran emerging markets investor Mark Mobius has warned of a worse-than-expected slowdown in Chinese steel production.
CNBC's Jackie DeAngelis reports on the moves in the metals markets after Turkey shoots down a Russian warplane.
Metal prices crumbled on Monday thanks to a toxic combination of the prospect of poor Chinese demand and a stronger U.S. dollar.
Nearly 100 bodies have been pulled from a landslide near a jade mine in Myanmar's northern Kachin State.
If China's old economy doesn't find its footing, metals demand could take another hit, Goldman Sachs said.
Nautilus Minerals just debuted the equipment that may make it the first company to seriously mine the ocean floor.
The steel industry's dire straits are in the spotlight this week, with both China and the U.K. warning about the hit from the dramatic slump in demand.
Jessica Ground, U.K. equities fund manager at Schroders, says investors need to pay attention to which commodities are being extraced by which mining companies if they want to turn a profit.
Some investors are taking a boost for iron ore as a sign that conditions for the commodity market might be looking up.
Oleg Deripaska, president of Rusal, says that Glencore's plan to slice its debt pile by over $10 billion is "100 percent" feasible.
President of major Russian diamond mining group Alrosa has warned of the growing number of "synthetic" or altered diamonds entering the jewelry market.
David Stubbs, global markets strategist at JPMorgan Asset Management, says unless there's a major supply disruption then the imbalance between supply and demand in the commodities market is unlikely to change.
In a bid to ease market fears about its debt levels, Glencore revealed details of its financing plans in a published statement Tuesday.
Glencore CEO Ivan Glasenberg urged rivals to shut unprofitable mines and blamed hedge funds for lower commodity prices, the FT reports.
CNBC's Kate Kelly details Glencore's attempt to stop the bleeding and potentially cut its debt by $10 billion.
The global silver-coin market is in the grips of an unprecedented supply squeeze, forcing some mints to ration sales and step up overtime.