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☆ Global miner BHP to focus on cost cuts, patient on M&A
▼ + stars: | 2023-10-05 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

MELBOURNE (Reuters) -Global miner BHP Group is focused on cutting costs to drive growth while being patient on buying assets, its chief development officer Johan van Jaarsveld said on Thursday in Melbourne. A view of a new nickel sulphate plant that global miner BHP Group is building to service the battery industry at its Nickel West operations, south of Perth, Australia August 2, 2019. REUTERS/Melanie Burton/File photo“This is a cyclical industry, and you sometimes are going to have to wait for 10 years or may be more to get the right opportunity at the right price,” van Jaarsveld said. “BHP’s Oz Minerals Brazil is not on the market,” van Jaarsveld said. We are looking at what we have got,” adding “you don’t want to sell assets, potentially and then somebody else make a big discovery.”

Persons: Johan van Jaarsveld, Melanie Burton, ” van Jaarsveld, Van Jaarsveld, ”, you’ve, you’re, “ Organizations: MELBOURNE, Global, BHP, REUTERS, Teck Resources, Oz Minerals Locations: Melbourne, Perth, Australia, Tanzanian, Indonesia, Teck, Queensland, Brazil, Oz, Oz Minerals Brazil

☆ Russian businessmen snapped up $40 billion worth of Western company assets at bargain-bin prices amid the corporate exodus: report
▼ + stars: | 2023-07-18 | by ( Kai Xiang Teo | Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russian businessmen bought the assets of 110 Western companies exiting the country at bargain-bin prices. These assets were collectively valued at 35 billion euros, or nearly $40 billion, at the end of 2022, per the report. Russian businessmen bought the assets of 110 Western companies "that have fully or partially left Russia" at bargain-bin prices, independent Russian newspaper Novaya Gazeta reported on Thursday. These assets were collectively valued at 35 billion euros, or nearly $40 billion, at the end of 2022, per the report. Foreign firms also had to slash their sale prices because in December 2022, Russia started forcing those selling their assets to dispose of them at a 50% discount.

Persons: Vladimir Potanin, Potanin, Norilsk Organizations: Service, Kremlin, Novaya Gazeta, Kyiv School of Economics, Novaya Gazeta —, US, Russian, Yale University, Financial Times Locations: Russia, Wall, Silicon, Ukraine, Russian, Moscow, McDonald's

A net 1,400 lots of short positions were covered by the time the market was suspended at 08:15. Xiang Guangda, the charismatic head of China's Tsingshan Holding Group, has attracted much media attention for being the big nickel short. The existence of at least once big nickel short wasn't exactly a secret in the market. LME nickel crisis had turned into potential LME clearing house crisis with Chamberlain having to juggle both parts of the meltdown while also being a nickel market specialist. The handful that remained, as one participant later recalled, knew nothing whatsoever about what was going on in the nickel market so decided to call everyone else back into the room.

Persons: Elliott, Street, Matthew Chamberlain, Chamberlain, Jane Street, Oliver Wyman's, Xiang Guangda, wasn't, Oliver Wyman, John Maynard Keynes, Xiang, doesn't, David Evans Organizations: London, Royal, of Justice, Hong Kong Exchanges, HK, Elliott Associates, Jane, Global, Tsingshan Holding, SEE, Bloomberg, Thomson, Reuters Locations: U.S, Ukraine

☆ Electric vehicles throw Palladium's mega-rally into reverse
▼ + stars: | 2023-01-27 | by ( Peter Hobson | ) www.reuters.com time to read: +2 min

(Graphic: Palladium's rally, )Powering the rally was rising demand from automakers who needed more palladium per vehicle to meet tightening emissions standards. Electric vehicles (EVs) that do not need palladium are gaining market share and automakers are substituting some palladium for cheaper platinum in combustion engine vehicles. (Graphic: Palladium supply from recycled vehicles, )That will shift the roughly 11 million ounce a year market to a surplus of nearly a million ounces in 2027, they said. (Graphic: Palladium market balance, )But it is too early to rule out short-term upward moves. (Graphic: Palladium speculators, )

☆ Potanin says sanctions constrain Nornickel, force it to adjust strategy
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +3 min

[1/2] President and Chairman of the Board of MMC Norilsk Nickel Vladimir Potanin attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim ShemetovJan 23 (Reuters) - Nornickel boss Vladimir Potanin, one of Russia’s richest men, said on Monday that the metals giant was reworking its strategy and building closer ties with countries such as China, Turkey and Morocco because of Western sanctions on the Russian economy. We have to deal with all this," added Potanin, who is Nornickel's (GMKN.MM) chief executive and biggest shareholder, owning 36% through his Interros holding group. Potanin reiterated the view he stated soon after the war began, that Russia should not respond to sanctions by confiscating or nationalising Western assets. Potanin was placed on a U.S. sanctions list last month as part of wider measures targeting people and businesses close to President Vladimir Putin.

☆ U.S. Sanctions Russia’s Rosbank, Subsidiaries of VTB
▼ + stars: | 2022-12-15 | by ( David Smagalla | ) www.wsj.com time to read: +3 min

The U.S. government has sanctioned Russian lender Rosbank and has expanded sanctions against VTB, one of the country’s largest banks, in a move to further limit the Russian government’s efforts to fund its war in Ukraine. The Treasury Department’s Office of Foreign Assets Control on Thursday announced sanctions against 17 subsidiaries of VTB, building on sanctions placed on the parent company in February, after Russia invaded Ukraine. The Treasury cited the importance of Rosbank to the Russian government, given that the lender is considered a “systemically important credit institution” in the country. The U.S. sanctions follow similar sanctions of Rosbank by the U.K. and Canada earlier this year. Nornickel wasn’t included in the State Department’s sanctions package.

☆ BASF says its battery material plant will be running by year-end
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Under a push to build a global materials network serving the EV industry, BASF has been seeking a string of alliances with cobalt and nickel miners. That included a 2018 partnership with Russia's Norilsk Nickel (GMKN.MM) in Harjavalta, Finland, which will supply metals to the Schwarzheide site. "We will ramp up the first facility here towards the end of the year," Chief Executive Martin Brudermueller told reporters after German Chancellor Olaf Scholz visited the production site on Tuesday. The battery materials business is one of two major investment projects at BASF. The group, which plans to cut jobs at its headquarters in Germany, will compete in battery recycling mainly with Belgium's Umicore (UMI.BR).

☆ Climate Change Is Real. Markets, Not Governments, Offer the Cure. - The New York Times
▼ + stars: | 2022-10-28 | by ( Bret Stephens | Mr. Stephens Is An Opinion Columnist. Mr. Winter Is A Staff Photographer On Assignment In Opinion. | ) www.nytimes.com time to read: +32 min

worse-case, highest-carbon-emission scenario.” (The Intergovernmental Panel on Climate Change is the U.N. body that assesses climate change.) How do we weigh the risks of underreacting to climate change against the risks of overreacting to it? While he’s not an expert on climate change, he has spent decades thinking deeply about every manner of risk. That’s particularly true if climate change is akin to cancer — manageable or curable in its earlier stages, disastrous in its later ones. Maybe, I realized, in assessing my newfound concerns about climate change, my long-held beliefs might provide a solution — look to the market.

☆ Russia's Rusal files London lawsuit against Potanin over Nornickel pact
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +4 min

The dispute centres on an agreement brokered by Moscow in 2012 between Nornickel's two largest shareholders, Potanin and Rusal, which protected its dividend payouts. Disputes over dividends have been the main reason for on-and-off rows between shareholders at Nornickel and Rusal over the past 14 years. SEEKING COMPENSATIONThe London lawsuit comes as Moscow faces Western sanctions over what it calls a "special military operation" in Ukraine. While Nornickel has not been directly targeted by Western sanctions, Potanin was sanctioned by Britain in June. Potanin has been chief executive of Nornickel for the duration of the agreement and Rusal said in its statement that it now required a "professional independent executive" as CEO.

☆ Rusal accuses Potanin of breaching Nornickel shareholder pact
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

Aluminium ingots are seen stored at the foundry shop of the Rusal Krasnoyarsk aluminium smelter in Krasnoyarsk, Russia October 3, 2018. Under the management of Mr. Potanin, Norilsk Nickel lost a number of assets that played a key role in group's activities. This resulted in Norilsk Nickel and its shareholders suffering significant losses." In July, Potanin in July floated the idea of a $60 billion merger of Nornickel with Rusal as a means of mitigating possible sanctions risks, but he said last month the idea had been postponed. He also said the 10-year shareholder agreement protecting Nornickel's dividend payouts was on track to expire at the end of 2022.

☆ Pericolul dispariției Moldovei. Op-Ed de Victor Pelin
▼ + stars: | 2021-06-18 | by ( ) www.ipn.md time to read: +14 min

Op-Ed de Victor Pelin„De această dată este vorba despre pericolul dispariției Moldovei din zona de influență a Rusiei. Acești lideri au fost cândva principalii promotori ai integrării europene a Republicii Moldova, dar și-au schimbat poziția de trei ori...”Vreme trece, vreme vine... În astfel de circumstanțe, este evident c ă intervievatul prezintă pericolele la adresa Republicii Moldova prin prisma intereselor rusești. Din cele afirmate de candidatul BECS putem desprinde că acesta confundă pericolul la adresa bunăstării liderilor BECS cu pericolul la adresa Republicii Moldova. Elitele rusești au dat dreptul de retransmitere în Moldova a principalilor posturi TV lui Plahotniuc, iar actualmente rețelei sorosiata.

Persons: Moldovei, Victor Pelin, ., Recent, Zinaida Greceanîi, Igor Dodon, Vladimir Voronin, Maia Sandu, Sandu, intervievatul, Konrad Adenauer, Plahotniuc, Vlad Filat, coreean Kim Jong, Dodon, Putin Organizations: Partidului Popular Creștin Democrat, PPCD, Uniunea Europeană, Izborsk, Partidului Popular European, Fundația Soros, Soros, CS, Uniunii Economice, Securitate, Sputnik Locations: Moldovei, Rusiei, Republicii Moldova, Republica Moldova, Moldova, Rusia, Transnistria, SUA, prezidențială, UE, Occident, Norilsk, Vladivostok, Moscova, Ucraina, sorosiata, CSI, Belarus, Kazahstan, Armenia, rusesc, coreean

☆ Trei persoane au murit şi una a fost rănită în urma unei avalanşe produse într-o staţiune de schi din nordul Rusiei
▼ + stars: | 2021-01-09 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Trei persoane şi-au pierdut viaţa sâmbătă şi una a fost rănită în urma unei avalanşe produse într-o staţiune de schi de lângă oraşul Norilsk din nordul Rusiei, au informat autorităţile, transmite agerpres.ro. Potrivit acestuia, un adolescent de 14 ani "grav rănit" a fost descoperit îngropat în zăpadă, însă în viaţă, şi a fost transportat la spital. Tragedia a avut loc la ora locală 12:30 (19:30 GMT vineri), într-o staţiune de schi aflată la nord-est de Norilsk, un oraş industrial cu condiţii meteo extreme, situat dincolo de Cercul Polar, la 2.900 de kilometri de Moscova. Patru clădiri au fost îngropate sub zăpadă, potrivit Comitetului de Investigaţii, care nu a specificat dacă victimele fac parte din aceeaşi familie. Un salvator voluntar a indicat Comitetului că doar o familie compusă din patru persoane - cea a responsabilului cu instalaţiile de transport pe cablu - se afla în vacanţă acolo.

Organizations: urgenţă Locations: Norilsk, Rusiei, Rusia, Moscova

☆ Rusia: O avalanşă a ucis trei persoane într-o staţiune de schi din Arctica
▼ + stars: | 2021-01-09 | by ( ) www.jurnal.md time to read: +1 min

Potrivit acestuia, un adolescent de 14 ani "grav rănit" a fost descoperit îngropat în zăpadă, însă în viaţă, şi a fost transportat la spital. Patru clădiri au fost îngropate sub zăpadă, potrivit Comitetului de Investigaţii, care nu a specificat dacă victimele fac parte din aceeaşi familie. Un salvator voluntar a indicat Comitetului că doar o familie compusă din patru persoane - cea a responsabilului cu instalaţiile de transport pe cablu - se afla în vacanţă acolo. "Avem un viscol foarte sever, aşa că azi erau puţini oameni la staţia de transport pe cablu", a declarat voluntarul pentru canalul Rossia-24. Un videoclip, difuzat de Ministerul Situaţiilor de Urgenţă, arăta salvatorii curăţând zăpada de deasupra unei clădiri îngropate complet de avalanşă.

Organizations: urgenţă Locations: Rusia, Norilsk, Moscova

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