Dec 4- Barrick Gold Corp, under fire for missteps in a tough market, started to address investor demands for a more independent board on Wednesday, by replacing two directors close to its departing founder with a pair of mining industry experts.» Read More
LONDON, Oct 31- Glencore Xstrata beat market forecasts with copper output that rose over a third in the quarter, boosted by improvements in its Congolese and Chilean mines, as metals helped its trading arm perform "in line" with its expectations. Among diversified miners, Glencore Xstrata has the biggest exposure to copper.
*Albanese was CEO of Rio Tinto until January 2013. LONDON, Oct 29- Mining companies were too slow to respond to changing investor demands from mid-2011 as sentiment deteriorated, failing to spot the wave of change which eventually swept out a generation of executives, the former boss of miner Rio Tinto said on Tuesday.
*Anglo American falls after weak update. LONDON, Oct 18- European shares rose on Friday on the back of robust growth data from China boosted luxury goods and mining stocks and expectations the Federal Reserve will keep monetary stimulus in the United States unchanged for months.
Ephrem Ravi, Head of Metals & Mining Sector, Asia Ex-Japan Equity Research at Barclays says investors should be cautious when investing in pure-play coal companies, with the expectation that the coal price will continue to decline.
Sept 11- India's Jaiprakash Associates Ltd has agreed to sell its cement plant in Gujarat state to UltraTech Cement Ltd for around 38 billion rupees including debt.
Glencore Xstrata promised investors on Tuesday it would slash costs, shelve risky projects and squeeze more benefits from its $46 billion takeover of mining group Xstrata, lifting its target to at least $2 billion of synergies by next year.
After falling by almost 20 percent earlier this year, copper prices have rallied over the past two months, helped by an uptick in Chinese economic activity. However, analysts warn the rebound may be short-lived.
Falling demand from China will likely cause an oversupply in the copper market by the end of this year and could weigh on prices for the metal until 2016, the CEO of copper miner Antofagasta told CNBC on Tuesday.
TORONTO, Aug 21- Peter Munk has long driven the agenda for Barrick Gold Corp, the company he formed in 1983 and built into the world's largest gold producer, but recent missteps have raised questions about the leadership of a man once seen as a visionary in the industry.
--Clyde Russell is a Reuters market analyst. The recent financial results of BHP Billiton, Rio Tinto, Glencore Xstrata and Anglo American were remarkably similar, as were the accompanying comments by their chief executives.
Mining stocks slipped on Tuesday, as weak earnings from BHP Billiton and Glencore Xstrata sent the sector lower. Analysts said miners were now the cheapest they have been in 30 years, and were set to bounce back when interest rates begin rising.
Ephrem Ravi, Head of Metals & Mining Sector, Asia Ex-Japan Equity Research at Barclays explains why BHP Billiton is still his top pick in the diversified metals space, even after a sharp rally in recent months.
The mining sector in Zimbabwe is still uncertain territory, benefiting from ample platinum reserves and a discipline workforce, but weighed down by government policy and corruption.
A recovery in consumer sentiment in the United States presents attractive opportunities for diamond investors, Panmure Gordon mining analyst Alison Turner said on Monday.
*H1 underlying operating profit $3.3 billion vs $3.1 billion estimate. LONDON, July 26- Anglo American's new boss laid out his blueprint for a turnaround of the underperforming miner on Friday, vowing to cut costs, halve a $17 billion project pipeline and revive lagging mines to boost cash and returns by 2016..
*H1 underlying operating profit $3.3 billion vs $3.1 billion estimate. *Targets cash flow uplift by 2016 of $1.3 billion, ROCE of over 15 percent. LONDON, July 26- Anglo American's new boss vowed to cut spending, halve its pipeline of projects and revive the performance of lagging mines in order to lift cash flow by an annual $1.3 billion.
TORONTO, July 25- Teck Resources Ltd on Thursday reported a sharp drop in second-quarter earnings on lower copper and coal prices, and cut its capital spending plan through 2014, delaying new mining projects.
Brad Partridge, Portfolio Manager at Macquarie Private Portfolio Management says he's concerned about expectations for short-term weakness in the resources sector, and that investors should wait for prices to come down before buying stocks.
*Q2 Copper output climbs 14 percent. LONDON, July 18- Anglo American posted an unexpected rise in copper production in the second quarter, a bright spot in an otherwise tough three months for the miner, which is set to unveil a major strategy review next week.
Charles Leyland, Managing Director of Leyland Private Asset Management says the refinancing deal Billabong made with Altamont puts the surfwear retailer in a good position.