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☆ Cramer's Lighting Round: Vertex Pharmaceuticals is 'terrific'
▼ + stars: | 2024-04-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Hawaiian Electric Industries' year-to-date stock performance. Stock Chart Icon Stock chart icon Excelerate Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Sibanye-Stillwater's year-to-date stock performance. Stock Chart Icon Stock chart icon Penumbra's year-to-date stock performance. Stock Chart Icon Stock chart icon Vertex Pharmaceuticals' year-to-date stock performance.

Persons: Excelerate, I'd, it's, I've, ABT, Emerson Electric's, Jim Cramer's Organizations: Hawaiian Electric Industries, Excelerate, Abbott Labs, PEN, Emerson Electric, GM, Pharmaceuticals, Vertex Pharmaceuticals, CF Locations: Stillwater

☆ Lightning Round: Hawaiian Electric could go lower from here, says Jim Cramer
▼ + stars: | 2024-04-08 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Hawaiian Electric could go lower from here, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Hawaiian Electric, Excelerate Energy, Sibanye Stillwater, Penumbra, Emerson Electric, Ford and Vertex.

Persons: Jim Cramer Organizations: Excelerate Energy, Emerson Electric, Ford Locations: Stillwater, Penumbra

Sibanye-Stillwater announced the layoffs Wednesday at the only platinum and palladium mines in the United States, near Nye, Montana, and other Sibanye-owned facilities in Montana, including a recycling operation. Another 187 contract workers — about 67% of the mining contract workers at the mine — will also be affected. Some contract work has been phased out over the past couple of months, said Heather McDowell, a vice president at Sibanye-Stillwater. Palladium prices have since fallen from a peak of about $3,000 an ounce in March 2022 to about $1,000 per ounce now. South Africa-based Sibanye bought the Stillwater mines in 2017 for $2.2 billion.

Persons: Heather McDowell, McDowell, Sibanye, Jason Small, Noah Dinger, Matthew Brown Organizations: Stillwater, of Labor, Forest Service, Mine, Montana AFL, Department of Labor, Industry, Associated Press Locations: Montana, Sibanye, United States, Nye , Montana, Stillwater, Nye, South Africa, Boulder, Falls , Idaho, Billings , Montana

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ South African rand slightly firms as US dollar dips
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration Acquire Licensing RightsJOHANNESBURG, Oct 4 (Reuters) - The South African rand traded slightly higher on Wednesday following several days of weakness as the softening of the U.S. dollar supported risk sentiment. At 1619 GMT, the rand traded at 19.2800 against the dollar , about 0.3% stronger than its previous close. South Africa's benchmark 2030 government bond was weaker in afternoon deals, with the yield up 6.5 basis points to 11.085%. Reporting by Tannur Anders and Anait Miridzhanian; Editing by Alexander Winning and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Hutchings, Tannur Anders, Anait, Alexander Winning, Chris Reese Organizations: REUTERS, Rights, U.S ., P, Africa PMI, Local, Woolworths, Africa's, Thomson Locations: Rights JOHANNESBURG, Africa, Stillwater, Johannesburg

☆ $1 bln metals SPAC deal backed by Glencore, automakers collapses
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. In June, global miner Glencore (GLEN.L), Chrysler parent Stellantis (STLAM.MI) and Volkswagen's (VOWG_p.DE) battery unit PowerCo agreed to back the deal through an equity investment. Weak economic data from the world's largest metals consumer China, which it has reported since August, affected the investors' appetite for the deal, a source, directly familiar with the situation, told Reuters. "The deal fell apart over price," said another source familiar with the situation, adding the price was higher than the buyers considered realistic after the nickel price declined. Reporting by Polina Devitt and Clara Denina; editing by Timothy Gardner and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, ACG, Glencore, Appian, Sibanye, Polina Devitt, Clara Denina, Timothy Gardner, David Gregorio Our Organizations: REUTERS, Appian Capital, Chrysler, Reuters, South Africa's, Thomson Locations: Baar, Switzerland, London, Appian, China, Stillwater

Renewable energy is more reliable but its promise for the region still remains largely unmet. Most households have depended on gasoline generators for power, but recently the government removed a gasoline subsidy, prompting increased interest in solar power, according to dealers. The Nigerian government has not announced incentives to promote solar energy, such as reducing import taxes on solar equipment as demanded by dealers. “The problem was affordability, but now customers can pay installments over a period of 18 months,” said Tunde Oladipupo, an agent for Sun King, a solar power company. Another example of this shift is the Ford vehicle assembly plant in Silverton, Pretoria, which currently sources over 35% of its electricity from solar power.

Persons: Rashmi Shah, ”, William Ruto, Tunde Oladipupo, Sun King, Monsurat Qadri, ” Qadri, ” Mohammed Ettu, Shah, ” Shah, ___ Adebayo, Magome Organizations: Climate Summit, World Bank, CP Solar’s, Associated Press, Kenyan, Solutions, Ford, South, CP, Kenya Power, Lighting Company, Supersport, AP Locations: NAIROBI, Mombasa, Nairobi, Kisii County, Kenya, Africa, Nigeria, Oyo, Lagos, Saharan Africa, South Africa, Stillwater, American, Silverton , Pretoria, Mpumalanga, Kenya —, Abuja, Johannesburg

☆ Sibanye brings in Chinese partner for Mopani Copper Mines bid
▼ + stars: | 2023-08-29 | by ( Felix Njini | ) www.reuters.com time to read: +3 min

The Johannesburg-based precious metals producer is on the shortlist of potential buyers for the copper mines owned by a unit of the Zambian government. The Chinese company has a presence in copper mining and would be joining Sibanye as an investment partner, Froneman said. The Chinese investor could help derisk the investment at Mopani, Froneman said. "They are an investment partner but technically they understand the copper business and smelting, so it's managing risk," he said. The Mopani assets require significant investment but spending would be spread over a number of years, Froneman said.

Persons: Neal Froneman, we've, Froneman, Felix Njini, Tannur Anders, Sharon Singleton, David Holmes Organizations: Mines, Reuters, China's Zijin Mining, U.S, Rothschild & Co, Thomson Locations: NAIROBI, Stillwater, Johannesburg, Zambian, Southern Africa, Europe, U.S, Mopani, Switzerland, ZCCM

☆ Glencore, automakers to back $1 bln nickel, copper SPAC deal in Brazil
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. Glencore will invest $100 million in ACG equity. Stellantis and mining investment fund La Mancha Resource Capital will each provide an equity investment of the same amount, while PowerCo will make a $100 million nickel prepayment. During the process, ACG will become ACG Electric Metals and issue new shares, making Glencore, Stellantis and La Mancha owners of 51% and leaving 49% for free float, Artem Volynets, ACG chief executive, told Reuters. The deal "will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain," Volynets said.

Persons: Arnd, ACG, Mick Davis, PowerCo, Artem Volynets, Appian, Sibanye, Volynets, En, Rusal, Polina Devitt, Clara Denina, Kirsten Donovan, Jason Neely Organizations: REUTERS, Chrysler, Company, Santa, Appian, Chartered, Citigroup, Blue Resources, Metals Acquisition Corp, Glencore, La, La Mancha Resource, Metals, Reuters, South Africa's, Hong, Thomson Locations: Baar, Switzerland, Brazil, London, New York, Western Europe, North America, La Mancha, Stillwater, Santa Rita, Hong Kong

☆ ‘Big Short’ Michael Burry bought shares in a slew of regional banks last quarter amid banking crisis
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Michael Burry, known for calling the subprime mortgage crisis, bought shares in a number of regional banks last quarter, betting the industry could weather the crisis, according to a new regulatory filing. The famed investor said in mid-March, after the collapse of Silicon Valley Bank , that he expected the banking crisis to be over soon without severe damage. However, on May 1, First Republic was seized by regulators to become the biggest bank collapse since the 2008 financial crisis. Burry bought $2 million worth of First Republic Bank shares last quarter, the filing, which reflects Scion's holdings as of March 31, showed. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.

☆ Newmont plumps final bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-11 | by ( Melanie Burton | ) www.reuters.com time to read: +4 min

If successful, the deal would lift Newmont's gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid that has received some support from shareholders. The latest bid is 16% higher than Newmont's initial proposal, and represents around a 46% premium to Newcrest's share price on Feb. 3 before Newmont's first bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Barrick and miner Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Lightning Round: Disney is a buy
▼ + stars: | 2023-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Disney is a buyMad Money host Jim Cramer weighs in on all manner of stocks, including Walt Disney, Elf Beauty, Occidental, Sibanye and Rocket Lab.

☆ Newmont sweetens bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid. "Newmont has indicated that the revised proposal represents its best and final price in the absence of a competing proposal," Newcrest said in a statement. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Rival miners Barrick and Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Newmont plumps offer for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$32.87 a share, up from a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February. Newcrest shares rose by as much as 7% to A$30.28 but still traded below the implied offer price. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced, Newcrest said. Reuters had reported that Newmont was open to raising its offer price for Newcrest. The revised deal is just shy of Glencore's $22.5 billion takeover offer for Canada's Teck Resources Ltd's (TECKb.TO) that was announced earlier this month.

Newcrest, which was spun out of Newmont in the 1990s, rejected the offer last week as too low. But one of Newmont's largest shareholders told Reuters it would not want the company overpaying for its rival. Palmer said that regardless of the outcome of the Newcrest bid, Newmont will develop its 16 billion pounds of copper reserves. Newmont said attributable gold production for the fourth quarter edged up to 1.63 million ounces from 1.62 million ounces in the comparable period a year ago. For 2023, Newmont has given a production guidance between 5.7 million and 6.3 million ounces of gold and guided for an all-in sustaining cost between $1,150 and $1,250 per ounce.

☆ James Abate's stock fund has nearly doubled its benchmark over 3 tumultuous years. Here's how he says investors should get ready for potential black swan events that could shape 2023.
▼ + stars: | 2023-02-07 | by ( Marley Jay | Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Kiplinger rates the fund as the best US large-company stock fund from 2020 to 2022. That's not the most encouraging backdrop for stocks, especially since Abate said investors will be less comfortable taking big risks. He added that while the beginning of 2023 has been the opposite of 2022, that's not going to last. For the first black swan, Abate pointed towards the escalation of the Russian-Ukraine crisis, including the recent increase in air defense activity, ground troops, and the shipment of armored vehicles, tanks, and fighter aircraft. As for the second black swan, Abate also highlighted the Japanese government's "unprecedented" and "unsustainable" buying of the yen to boost the currency against others like the dollar.

☆ Lithium company Ioneer scores $700 million conditional loan from Energy Department for Nevada plant
▼ + stars: | 2023-01-13 | by ( Pippa Stevens | ) www.cnbc.com time to read: +1 min

Lithium company Ioneer said Friday that it's secured a conditional commitment for a loan of up to $700 million from the Department of Energy as the U.S. seeks to develop new supply chains for materials that are critical to the energy transition. Ioneer is developing the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. When fully operational, the site will produce enough lithium for 400,000 electric vehicles, the company said, while also producing boron. Ioneer's loan from the Department of Energy hinges on several conditions, including that the company receives all of the necessary permits. If approved, the loan, made under the Department of Energy's Advanced Technology Vehicles Manufacturing program, will be for Ioneer's on-site lithium processing facility.

☆ Platinum prices are soaring. These buy-rated stocks with upside could be a way to cash in
▼ + stars: | 2023-01-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Prices of platinum , which is used in everything from jewelry to fuel cells, are soaring. The Aberdeen Standard Platinum Shares ETF , the GraniteShares Platinum Trust and the iPath Series B Bloomberg Platinum Subindex Total Return ETN are among the funds that track the metal. The Aberdeen Standard Platinum Shares ETF, for instance, rose 10% — jumping over 20% in the last six months alone. It has the highest buy rating — from more than 75% of analysts — according to FactSet. Analysts give Glencore an average 17% upside to its current share price, according to FactSet data.

☆ Precious metal platinum set for best quarter since 2008 on supply concerns
▼ + stars: | 2022-12-30 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Platinum rose another 5% Thursday to trade at $1,054.86 per troy ounce Friday, up around 22% compared to the start of the quarter. The price of platinum is up over 20% since late September, and the metal is set to experience its best quarter since 2009. The Council anticipates a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%. Demand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023. The platinum market posted a deficit in 2020 after the onset of the coronavirus pandemic brought industry to a standstill.

☆ East-West battleground will shift from fossil fuels to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper.

☆ East-West battleground will shift to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper. That’s why Western nations’ best option is ultimately to recycle metals from used appliances.

☆ Zimbabwe's new mineral royalty policy comes into force
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A worker attends to machinery at a smelter plant at Anglo American Platinum's Unki mine in Shurugwi, Zimbabwe, May 16, 2019. The southern African country has struggled to capitalise on its significant mineral reserves and a resource boom due to policy uncertainty, a lack of ancillary industries to support mining, currency volatility and electricity shortages. The cash component of the royalties would be made up of 40% Zimbabwean dollars and 10% in foreign currency, according to the notice. Zimbabwe's royalty rates range between 5% for gold and platinum group metals and 10% for diamonds. The Zimbabwe Chamber of Mines, which represents major mining companies, has said it is not worried about the new royalty policy because it does not amount to an increase in existing royalty rates.

China co-chairs a committee of official bilateral creditors with France as part of a debt restructuring that Zambia is seeking under the Group of 20's Common Framework, a platform for highly indebted countries to rework their debt with bilateral creditors. At the end of 2021, China held about a third of Zambia's $17.27 billion international debt, according to Zambian government data. Musokotwane said negotiating with bilateral creditors including China before private creditors had "worked fairly well", but acknowledged there had been complaints from international investors who hold the country's sovereign bonds. It is now seeking a present value $6.3 billion debt reduction, or 49% of the external debt being restructured. "There is no point of pretending that there is something that is better, when doing so means that you leave Zambia still with an unsustainable debt situation," Musokotwane said.

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