Profit Briefs: OZL, WPL
With peak reporting season upon us, here are snippets from the results announced yesterday by a couple of key resource companies: OZ Minerals and Woodside Petroleum.
Read MoreWith peak reporting season upon us, here are snippets from the results announced yesterday by a couple of key resource companies: OZ Minerals and Woodside Petroleum.
Read MoreNews that BHP was exiting carbon and becoming ‘greener’ via its Jansen potash project in Canada was overshadowed by the 2020-21 result, huge dividends and the Woodside Petroleum deal.
Read MoreAmid all the gloom at the moment from Covid Delta, lockdowns etc, Australia’s position in the global wheat market continues to improve, helped by prices reaching recent highs in the US and Europe.
Read MoreAmerican oil producers continue to boost activity in the face of a slowing in demand thanks to the rise of the latest wave of Covid infections in economies large and small.
Read MoreAccording to global oil and gas giant BP, Western Australia is prime territory for “the production of green hydrogen and green ammonia using renewable energy,” adding another feather to the region’s bow.
Read MoreNewcrest has sent a big message to the market about the growing importance of the East Pilbara gold and copper finds like its Havieron joint venture and Rio Tinto’s Winu.
Read MoreSwamped in the first significant day of the June 30 reporting season on Thursday was the second upgrade for grain handling group GrainCorp which for a long time was a major victim of the long drought.
Read MoreThe 2021 commodities boom emerged nicely in the annual results of Mineral Resources yesterday, as the lithium and iron ore player beat expectations and announced a fully franked $1.75 dividend.
Read MoreNo sign yet of a slowing in the pace of Chinese iron ore imports, even though the government continues to pressure steelmakers to keep crude steel output at 2020’s 1.065 billion tonnes.
Read MoreThe midyear commodities boom has been well and truly pricked as prices of key products like oil, gold, silver, copper and iron ore continue to weaken.
Read MoreWatch the share prices of local gold and oil companies today because they will come under a lot of downward pressure after global prices retreated on Friday – especially gold.
Read MoreMany investors have forgotten that it’s a combination of factors behind the record iron ore prices and results for the big miners, and that basically it all comes down to good old economic fundamentals.
Read MoreBHP reminded us on Friday that its fortunes are still tied to carbon and fossil fuels, announcing two oil related investments worth $US804 million or more than $A1 billion.
Read MoreResolute Mining has finally gotten rid of its troublesome Bibiani mine in Ghana, with the company reporting Thursday it secured a $90 million sale to Canada’s Asante Gold Corporation.
Read MoreThe June quarterly report from lithium major Albemarle underwhelmed on Wednesday with the shares closing down 0.6% in New York with no surge expected in lithium sales revenues and profits.
Read MoreDespite a slide in iron ore prices, the Reserve Bank’s Commodity Price Index jumped 7.7% in July to hit an all-time high, topping previous boom peaks in 2011 and 2007-08.
Read MoreGold still has its charms, so too do iron ore and lithium, but the 30th Diggers and Dealers chatathon in Kalgoorlie this week has seen two golden oldies reclaim the top spots.
Read MoreNormally a surge in the price of a commodity tends to bring forth a rise in output over time; but sometimes a larger, more immediate factor intrudes and so it was in 2020.
Read MoreOrigin Energy is the latest big electricity and gas group to feel the pain from falling prices and the rising efficiency of renewable energy, forced to make over $2bn in write downs.
Read MoreAny doubts that the boom in iron ore prices was over were buried on Friday when prices slumped to multi-month lows, triggering losses up to 25% since the all-time highs of mid-May.
Read MoreGold became a bit of an investment orphan in the June quarter, according to the latest global report from the World Gold Council (WGC), which stated demand for the yellow metal had dropped by 1%.
Read MoreContrasting fortunes this week for three of the country’s mid-range miners who released quarterly reports – IGO in nickel, as well as gold producers St Barbara and Gold Road.
Read MoreFortescue Metals Group, the 4th biggest iron ore miner in the world, is heading for a record for the year to June 30 after reporting a record 49.3 million output in the June quarter.
Read MoreShareholders in Rio Tinto will get record dividends totalling $US5.61 a share (about $A7.60) after the iron ore giant revealed a record profit and revenues for the six months to June.
Read MoreThe improvement in the outlook for global almond prices and demand has seen Australian grower Select Harvests upgrade its expectations for its 2021 crop by more than 20%.
Read MoreBHP and Rio Tinto have revealed new offshore plays to get deeper into the renewable commodities sector: a Canadian nickel company for BHP and
a big Serbian lithium mine for RIO.
OZ Minerals is heading for record earnings for the six months to June after net revenue jumped 71% to $986 million on the back of higher gold production and copper output.
Read MoreTakeover target (according to rival Santos) Oil Search saw a 21.5% jump in June quarter revenues despite a production dip in the three months.
Read MoreShares in Lynas Rare Earths hit a near 9-year high as its promising future took a more defined shape and revenue for the year to June 30 surged to record levels.
Read MoreEven though its board is yet to approve the multi-billion dollar project, BHP seems to be pushing hard towards a greenlight for the first stage of its Jansen potash mining project in Canada.
Read MoreWhile the ASX will more than likely be up at the opening today thanks to Wall Street, will more investors notice the biggest sell-off in iron ore prices for close to 18 months that happened last week?
Read MoreRio Tinto retained its top ranking in the global iron ore export stakes – by the narrowest of margins in the three months to June – just 200,000 tonnes.
Read MoreAfter years of being seen as a high cost, high priced commodity with few growth prospects, nickel has moved to become part of BHP’s ‘green’ appeal – and they have the deal with Tesla to prove it.
Read MoreThanks to record prices and demand for iron ore – especially from China – Australia’s goods trade surplus hit a new peak of $13.3 billion, the second successive month that it has topped $13 billion.
Read MoreIn its June quarter report yesterday, Santos announced sales revenue hit a record $US1.1 billion, taking it to a record-breaking $US2.04 billion over the six months to June 30.
Read MoreShares in Lynas jumped more than 9% yesterday after revealing it had won an Australian government grant to commercialise an industry-first rare earth refining process at its planned WA plant.
Read MoreDays after confirming its $1 billion Cowal expansion, Evolution has revealed a $400 million transaction to turn its Mungari mine into a ‘cornerstone’ asset in a deal with rival Northern Star Resources.
Read MoreAustralia’s biggest gold miner Newcrest Mining had a good 2020-21 as its gold and copper production reached guidance targets in the year to June, with Telfer and Cadia leading the way.
Read MoreBHP wouldn’t comment on the claims made by Bloomberg on Wednesday morning that they were reviewing their petroleum business and considering options including a trade sale.
Read MoreAusbil’s James Stewart and Luke Smith give iron ore a thorough once-over from both the supply and demand sides in an endeavour to unearth why it is so polarising at the moment.
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