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☆ First Quantum suspends copper concentrate loading at Panamanian port
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Feb 6 (Reuters) - First Quantum Minerals Ltd (FM.TO) said on Monday it has suspended loading operations at a major port in Panama, blocking the Canadian company's path to export from the Cobre Panama copper mine and sending its shares down nearly 8%. The Panama Maritime Authority last month ordered the company's subsidiary Minera Panama to suspend copper concentrate loading at the port until it showed evidence that its scales were calibrated by an accredited company. First Quantum said that its subsidiary initiated the certification process by submitting the required proof to an accredited company on Feb. 3, but has not heard back from the Panama Maritime Authority. The process deviates from Minera Panama's previous approach of providing internationally accepted certifications to the Panama Maritime Authority, the company added. Cobre Panama represented more than half of First Quantum's earnings before interest, tax depreciation and amortization (EBITDA) in 2021.

Buyers love interest rate buydowns because they come with reduced interest on their mortgage. That has led to an uptick in interest rate buydowns — money paid upfront to secure a lower interest rate. Jones saw interest rate buydowns increase last year, particularly in the second half of 2022. But interest rate buydowns can also be good for sellers even if buydown points come at a cost. To lower the interest rate permanently, each point costs 1% of the loan and usually lowers the interest rate by 0.25%.

☆ What War Leaders Most Underestimate: Duration and Deaths
▼ + stars: | 2023-01-27 | by ( Michael O Hanlon | ) www.wsj.com time to read: 1 min

In most of American higher education and even most policy schools, military history is relegated to the sidelines. Rarely is it taught in its own right, with a focus on the technologies and tactics of war, the strategies and major campaign plans of the participants, the mistakes made and lessons learned, the great “what ifs?” of history. This is regrettable, not least because it impoverishes our own debates on issues of war and peace. Military history doesn’t provide lessons in simple cookbook style, as Richard Neustadt and Ernest May underscored in their classic 1986 book, “Thinking in Time.” It needs to be taken in, mulled over and discussed. Surveying the major wars of modern history, I would propose two general themes that have special relevance for today.

☆ Mongolia calls on Rio Tinto to keep budget for giant copper mine in check
▼ + stars: | 2023-01-26 | by ( Clara Denina | ) www.reuters.com time to read: +3 min

LONDON, Jan 26 (Reuters) - Mongolia has asked Rio Tinto (RIO.L)(RIO.AX), its partner in the huge Oyu Tolgoi copper and gold mine in the Gobi desert, not to further increase its estimated $7.06 billion budget for the project's expansion, its mining minister told Reuters. "The government has asked Rio Tinto to not increase the budget," J. Ganbaatar, the minister for mining and heavy industries, told Reuters on Jan. 16 in a video interview. Rio Tinto declined to comment. Mongolia owns 34% and Anglo-Australian miner Rio Tinto 66% of Oyu Tolgoi, one of the world's largest known copper and gold deposits, which is slated to eventually produce more than 500,000 tonnes of copper a year. However, when the price of copper exceeds $9,000 a tonne, a 20% royalty is imposed on copper concentrate.

Jan 24 (Reuters) - Albemarle Corp (ALB.N) on Tuesday called for lithium prices to remain high indefinitely in order to help the mining industry develop new sources of the electric vehicle (EV) battery metal and fuel the green energy transition. Lithium prices have more than doubled in the past year and are up nearly ninefold in the past three years, according to an index tracked by Benchmark Mineral Intelligence. For 2023, Albemarle expects the price it receives for its lithium to jump 40% over 2022 levels. That should dip this year, due to rising costs for lithium chloride and spodumene ore - both key feedstocks - though the company expects lithium margins to eventually stabilize around 45%. Norris, a longtime lithium industry executive, repeatedly stressed during a nearly two-hour presentation that Albemarle will produce lithium when its customers need the metal.

Several Latinos whose lives and work left a profound imprint on American institutions — from arts and entertainment to legal and civil rights — passed away in 2022. Cavazos began his education in a two-room schoolhouse on the King Ranch in Texas, where his father was a foreman. President Reagan named Cavazos Secretary of Education in 1988, making him the first Hispanic ever to serve in the U.S. Together, “Luis” and Maria” showed young audiences that Latinos were people who worked, fell in love and were part of their community. Her goals were to give Latinos a presence in the dance world, and to instill pride in Hispanic culture.

☆ Barbie's creator wanted Ken to have more of a 'bulge' — but Mattel refused to give the doll a prominent crotch
▼ + stars: | 2022-12-29 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

Barbie creator Ruth Handler wanted the Ken doll to have a "bulge," she wrote in her autobiography. "Both the all-male design and marketing staffs, however, disagreed, so the groin on the first Ken doll was as smooth as Barbie's." "Ruth felt the design team lacked 'the guts' to give the Ken doll even the suggestion of male sex organs," Gerber wrote. "But Ruth was not political or prone to dwell on the root of cultural standards," Gerber wrote. A range of Barbie dolls for sale during the 2015 National Barbie Doll Collectors Convention.

☆ ‘Wildcat’ Review: Finding Peace With Predators
▼ + stars: | 2022-12-28 | by ( John Anderson | ) www.wsj.com time to read: +1 min

The documentary “Wildcat” is about wildlife conservation the way Ernest Hemingway ’s “Big Two-Hearted River” was about fly-fishing. Both are, instead, about the balm of nature on the wounds of war. Directed by Melissa Lesh and Trevor Beck Frost , “Wildcat” is not a short story. It’s not: The story of Ms. Zwicker and her abusive, alcoholic but lovable father is not just background. It establishes her in the not-uncommon position of being a woman who thinks she can save a tormented man.

☆ Trump's lawyers keep getting slammed for filing conspiratorial lawsuits. Here are the 16 sanctioned so far.
▼ + stars: | 2022-12-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Lawyers representing Trump keep getting sanctioned by courts. Sixteen different lawyers have been sanctioned over failed lawsuits brought on the former president's behalf. Many of Trump's lawyers, even if they are not sanctioned, end up needing lawyers of their own to ward off the worst consequences. Still, as many 16 lawyers have been personally sanctioned because of their work for Trump, and Insider has compiled a list. The least successful, however, was a sprawling lawsuit Trump filed against Hillary Clinton, the Democratic National Committee, and several other figures linked to Clinton's 2016 presidential campaign.

"The jury is still out," on which technology will dominate, said Dr. Sadik Esener, director of the Cancer Early Detection Advanced Research Center at the OHSU Knight Cancer Institute in Portland, Oregon. He added it could take as long as 20 years to show that an early cancer detection test saved lives. If proven to work, early cancer detection tests could help doctors identify cancer risk in patients long before symptoms or other indicators develop. DIFFERENT APPROACHESSeveral of the leading contenders take vastly different approaches to cancer detection and it is not yet clear which methods will prove most useful or when. Some are working on blood tests to detect different markers of early cancer, including proteins.

☆ The 2024 Senate map just got even more difficult for Democrats
▼ + stars: | 2022-12-10 | by ( Harry Enten | ) edition.cnn.com time to read: +7 min

Sinema’s interests are no longer necessarily the Democrats’ best interests in the next Congress, and the 2024 Senate map became even more complicated for Democrats with Sinema’s decision. The Democrats who run against independent Sen. Angus King in Maine have not gained traction in recent elections. Having two people in the race who are going to caucus with the Democratic Party likely makes it more difficult for the Democrats to win. All that said, the Democrats already have a difficult map heading into 2024. With Sinema’s break from the Democratic party, the road is, if nothing else, curvier for Democrats.

☆ As Carvana crashes hard, used car dealers — not buyers — stand to win big
▼ + stars: | 2022-12-09 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Used car retailer Carvana has come crashing down after a strong two years. The upstart used car retailer is fading so fast, many industry players are wondering what happens if it goes bust. When global supply chain constraints hampered new production, shoppers pushed used car prices to record highs and Carvana's peak valuation to more than $60 billion. What its mean for car buyers — and legacy dealersCarvana vehicle buyers should feel relatively protected. A bankruptcy, however, could leave car dealers pleased, as Carvana was able to undercut its brick-and-mortar competition with vehicle prices.

It could also negatively impact African nations that produce battery materials. The United States has a Free Trade Agreement in place with only one African country, Morocco. Battery materials and trade are set to be a focus at next week's U.S.-Africa Leaders' Summit in Washington where President Joe Biden will meet presidents of African countries including Congo. Under IRA, U.S. carmakers will get tax credits if they source at least 40% of battery materials domestically or from American free-trade partners. His is one of many projects across sub-Saharan Africa aiming to produce battery materials like lithium, nickel and graphite.

☆ Carvana shares tank as bankruptcy concerns grow for used car retailer
▼ + stars: | 2022-12-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Ernest Garcia III, CEO of Carvana, speaks to CNBC on the floor of the New York Stock Exchange, March 7, 2019. Shares of Carvana plummeted by more than 40% in Wednesday morning trading after the embattled online used car retailer's largest creditors signed a deal binding them to act together in negotiations with the company. Such creditor agreements are viewed as a way to streamline negotiations around new financing or a debt restructuring. JPMorgan said Wednesday that the creditor deal signals that Carvana "may have initiated debt restructuring negotiations with bond holders" but the "possibility of imminent Ch. Carvana's stock has plummeted by about 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021.

☆ Fed hikes and a stronger dollar are fueling risks of political instability in Africa
▼ + stars: | 2022-12-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

ACCRA, GHANA - NOVEMBER 05: Ghanaians march during the 'Ku Me Preko' demonstration on November 5, 2022, in Accra, Ghana. "Exposure to international interest rate changes is exacerbated by the large proportion of African public debt that is held in dollars." watch now"High public debt levels and elevated borrowing costs will constrain public spending, which will likely result in a deteriorating ESG and political risk landscape across the continent," Hunter added. Spotlight on Ghana Hunter pointed to Ghana as among the most affected by this negative feedback loop between a deepening public debt burden, a constrained fiscal position and a deteriorating ESG and political landscape. ACCRA, GHANA - NOVEMBER 05: Ghanaians march during the 'Ku Me Preko' demonstration on November 5, 2022, in Accra, Ghana.

☆ BHP's Henry sees fundamentals in place for China's economic growth
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - BHP Group's (BHP.AX) Chief Executive Mike Henry said that "all fundamentals are in place" in China for continued economic growth over the next 20 years. China, the world's second biggest economy, accounts for more than 50% of global demand for raw materials. Its economic activity has this year been dampened by targeted lockdowns in response to COVID-19 outbreaks. Speaking at the Reuters NEXT conference in New York Henry, head of the world's largest listed mining company, said he expects to see an "increasing domestic drive towards economic growth in China". Reporting by Clara Denina, Ernest Scheyder; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Tom Stoppard Fears the Virus of Antisemitism Has Been Reactivated
▼ + stars: | 2022-11-28 | by ( David Marchese | ) www.nytimes.com time to read: +19 min

I don’t think that it’s an equal participant in some kind of debate. I don’t think so. If you’re sitting there enjoying the structure, then I don’t think that’s entirely good news for the writer. I don’t know that I would actually pursue the subject as a playwright. You know, I’m told there is such a thing as the long view.

☆ What Donald Trump and Sam Bankman-Fried Have in Common
▼ + stars: | 2022-11-21 | by ( Allysia Finley | ) www.wsj.com time to read: 1 min

FTX founder Sam Bankman-Fried’s crypto empire went bankrupt gradually, then suddenly, to borrow a line from Ernest Hemingway . Maybe that’s how we will look back on Donald Trump’s political currency too. The two disruptive figures operate on different ends of the political spectrum, yet both achieved success in similar ways and have fallen into disrepute for similar reasons. Both became famous by building a marketing juggernaut, befriending celebrities and projecting an aura of success. Both exploited the political predispositions of their supporters—for Mr. Trump, conservative grievances against America’s liberal ruling class; for Mr. Bankman-Fried, progressive intellectual vanities.

Republican leaders had promised voters during the election they would cut the mining permit review timeline in half and boost domestic EV mining, rather than seek more supply overseas. Westerman and other Republicans will be partially stymied by Republicans' failure to wrest control of the U.S. Senate from Democrats. With their newfound control, Republicans could threaten to withhold funding from agencies perceived as taking too long to approve mines. The Resolution project is opposed by Representative Raúl Grijalva, an Arizona Democrat who will relinquish his chairmanship of the House Natural Resources Committee to Westerman. Republicans say that expanding such deals to other countries is not a priority for the new Congress.

☆ Peloton co-founder John Foley launches business selling custom rugs directly to consumers
▼ + stars: | 2022-11-07 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +3 min

Peloton co-founders are starting Ernesta, a direct-to-consumer business selling custom rugs. The business is launching in spring 2023 and entering a global market anticipated to reach $130 billion by 2030. The company will be entering a global carpets and rugs market anticipated to reach $130 billion by 2030. Foley is Ernesta's CEO, with fellow Peloton founders Hisao Kushi serving as chief legal officer and Yony Feng as chief technology officer. He relinquished his executive chairman title in September, following months of controversy and reduced global demand at the beleaguered company.

SummarySummary Companies Agnico Eagle, Pan American bid values Yamana around $4.8 blnGold Fields says it will continue working towards takeoverYamana shares jump 16%Nov 4 (Reuters) - Agnico Eagle Mines Ltd (AEM.TO) and Pan American Silver Corp (PAAS.TO) swooped in with a joint bid for Yamana Gold (YRI.TO) on Friday, in an attempt to scupper Gold Fields' (GFIJ.J) planned acquisition of the Canada-listed gold miner. The cash and stock offer, valuing Yamana at around $4.8 billion, would see Agnico and Pan American split Yamana's mines between them. Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share and 0.1598 of a Pan American Share for each share held. South Africa's Gold Fields had agreed to take over Yamana in an all-stock deal valuing it at $6.7 billion in May. Gold Fields will update the market on the status of its bid after the weekend, a company spokesman said.

☆ Albemarle's lithium sales surge amid rapid EV market growth
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

The results and forecast reflected a bullish outlook for the electric vehicle industry despite recent macroeconomic concerns and warnings of market softness from some rivals. Lithium sales more than quadrupled to $1.5 billion on higher prices and the opening of new processing plants. The company trimmed its 2022 sales forecast at the high end to $7.4 billion from $7.5 billion due to the weak bromine sales. Albemarle received a $149.7 million grant from U.S. officials last month to build a lithium processing facility in North Carolina. Charlotte, North Carolina-based Albemarle plans to hold a Thursday conference call with investors to discuss the quarterly results.

☆ Livent swings to quarterly profit on rising lithium demand
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Lithium producer Livent Corp (LTHM.N) on Tuesday said it swung to a quarterly profit largely due to rising demand and prices for the metal used to make electric vehicle batteries. The company posted third-quarter net income of $77.6 million, or 37 cents per share, compared to a net loss of $12.6 million, or 8 cents per share, in the year-ago period. Reporting by Ernest ScheyderOur Standards: The Thomson Reuters Trust Principles.

☆ Livent trims lithium sales and profit forecast; shares slip
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Lithium producer Livent Corp (LTHM.N) on Tuesday cut the top end of its 2022 earnings and sales forecast, citing inflation and other macroeconomic pressures weighing on its output of the electric vehicle battery metal. Shares fell 2.5% in after-hours trading following the news, despite Livent posting better-than-expected quarterly profit. Livent now expects 2022 sales of $815 million to $845 million, compared with a previous estimate for annual sales between $800 million to $860 million. The company also cut the top end of its adjusted profit forecast by $5 million, to $370 million. In August, Livent struck a six-year lithium supply deal worth nearly $200 million with General Motors Co (GM.N).

☆ Kanye West’s antisemitism did what his anti-Blackness did not. And some people have a problem with that
▼ + stars: | 2022-10-29 | by ( Lisa Respers France | ) edition.cnn.com time to read: +5 min

CNN —On the surface, the case of Kanye West seems pretty cut and dry. But the million-dollar question is why this didn’t happen a long time ago, given West’s history of making anti-Black statements. Journalist Ernest Owens recently tweeted, “FACT: Before Kanye West was ‘the face of Anti-Semitism,’ he was one of the hip-hop faces of misogynoir, anti-Blackness, Trumpism, and slavery-denial.”FACT: Before Kanye West was "the face of Anti-Semitism," he was one of the hip-hop faces of misogynoir, anti-Blackness, Trumpism, and slavery-denial. “Shame.”Author and Washington Post Magazine contributing writer Damon Young told CNN the situation is a more nuanced discussion than it sometimes appears to be on social media. “The reason we never really completely shut Kanye down is because we are hanging on to this essence of what he used to be,” Baptist told CNN.

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