Copper prices have fallen off a cliff since June, and not even China’s massive stimulus has bucked the trend. But Sara Nunnally says one Chilean mining firm is still planning a major expansion in production over the coming years. This could mean big profits for the company’s three major financial backers (AAUK, XTA, MITSY)… provided they survive the current commodity slump.
Lonmin’s CEO shocked the world by stepping down three days before the Xstrata (XTA) deadline. But the exit of Brad Mill leaves investors wondering not whether Lonmin (LMI) will accept the offer but if Xstrata will back out before it can.
The base metals mostly posted slight gains on Wednesday. Copper was at the low end of a 4-cent range for most of the day, until a late morning rally pushed it into the black, with a finish at $3.1402/lb., up more than 2¾ cents.
The base metals were mixed on Thursday. Copper held in positive territory until mid-morning in New York, but then hit the skids, finishing just off its intraday low at $3.3037/lb., down 4¾ cents.
The base metals were all off to the races on Thursday. Copper started up in the pre-dawn hours and never quit, finishing just off its intraday high at $3.5849/lb., up more than 15½ cents.
The base metals were all in positive territory on Tuesday. Copper noodled around unchanged until mid-morning, when it took off and climbed steeply, then held to finish just off its intraday high at $3.4736/lb., up nearly 10½ cents.
US secretary of state Conde Rice says Russia’s international reputation is in “tatters.”
But Andy Carpenter in Investor’s Daily Edge says the reality is Russia is emboldened by the simple fact that the US is no longer the world’s sole economic engine.
There is now a huge amount of money being poured into emerging markets infrastructure projects. The lion’s share of this cash will go to Russia, China and the Middle East. Smart investors now must think globally, says Andy…
The Canadian markets managed a modest recovery from Tuesday’s massive sell off as select investors went bargain hunting during Wednesday trading.
I sent a rather aggressive email this morning: Oi! Stop taking all our money!” It was to a former colleague at Northern Rock (NHRKF). I signed it as ‘The Taxpayer’ — a stroke of satirical genius I’m sure you’ll agree… Or maybe not.
What a difference a year makes. Delta Airlines (DAL) has reported a 2Q loss of $1.04 billion, compared with year-ago net income of $1.59 billion. Sky-high crude oil prices and fuel inefficient planes are murdering the airline.
A great way to play the airlines woes is by investing in vanadium. The little-known metal is in high demand due its use in fuel-efficient engine technology. Its primary use is in ultra-light, super-strong metal alloys.
Vanadium is scarce. And there’s high demand for it. This makes it a great investment, says Chris Mayer…