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Reports of the Death of Coal exaggerated

Statement by QRC Chief Executive Ian Macfarlane

As the Mark Twain saying goes: Reports of my death are greatly exaggerated. And so have been the green activist reports of the death of coal, and more broadly, the resources sector. Today, it is pleasing to see the Premier Annastacia Palaszczuk and Minister for Natural Resources and Mines, Dr Anthony Lynham, have thrown their support behind the resurgence of Queensland’s mighty resources sector.

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SSAB entering new North African Markets

SSAB has recently opened an office in Egypt and is working on establishing one in Algeria. Both countries offer great potential for new business opportunities, and the start in Egypt has been very good. There are also plans related to Western and Central Africa.

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Salini Impregilo is 2nd amongst the preferred Companies for Science & Technology Graduates in Italy

For the second year in a row, Salini Impregilo ranks as one of the most attractive company on the market among the “Best Employer of Choice”, reaching the 2nd position in the list of Italian preferred workplaces for graduates holding a degree in Science & Technology and the 4th position in the global ranking. The awards ceremony was held on the IULM (International University of Languages and Media) campus in Milan on February 16.

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New strategic Partnership between Glencore and Qatar Investment Authority relating to Rosneft

Glencore and QIA have concluded various agreements which provide for the establishment of a 50:50 consortium (the Consortium).

The Consortium has entered into agreements in connection with the further privatisation of Rosneft whereby the Consortium will acquire from Rostneftegaz a 19.5% interest in the issued share capital of Rosneft (the Shares) for €10.2 billion (the Consideration). Under the proposed arrangements, Glencore will commit €300 million in equity (the Glencore Equity) and QIA will commit €2.5 billion in equity to the Consortium with the balance of the consideration for the acquisition of the Shares to be provided by non-recourse bank financing, principally by Intesa Sanpaolo S.pA., with Russian banks also providing financing and credit support.

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Vanadium: Closure at Highveld to result in Supply-side Changes

  • Roskill has released its new vanadium market report with forecasts out to 2026.

Production of vanadium feedstock peaked in 2013 and has since declined year-on-year.  The drop in supply is mainly a reflection of lower demand in 2014 and 2015, although more structural changes to supply-side market dynamics have also had an impact.  

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Why Mining Stocks Are Rising post-Brexit

  • Miners followed gold

Most mining companies reversed their 2015 losses during the first few months of 2016, posting substantial gains. The correlation between mining stocks and gold remains high. Most miners surged following the gains in gold. Friday was important. Gold rose to a two-year high due to additional haven bids on the Brexit referendum. Almost all mining stocks rose on Friday.

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Acquisition by RPM of iSolutions

RungePincockMinarco Limited (ASX: RUL) [RPM] has, today announced it has entered into an agreement to acquire 100% of the issued share capital of iSolutions, a leading global Asset Management software company with over 20 years’ experience in the provision of asset management, life cycle costing and budgeting software solutions to the mining industry.

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Small Businesses still big Winners of Resources Sector

The Queensland Resources Council’s latest report into resource company spending patterns confirms that local operators are still big beneficiaries of the resources sector. Despite facing one of the most severe economic conditions on record, the resources sector spent $24.7 billion with more than 24,000 local businesses and community groups last financial year.

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Boliden’s Q1: Good result in Smelters

Boliden’s revenues totalled SEK 8,849 m (10,407) and the operating profit, excluding the revaluation of process inventory, was SEK 769 m (1,102). Higher production levels than in the previous year were, however, unable to compensate in full for lower metal prices.

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BE Group Q1 2016 – strong Cash Flow

  • Net sales fell by 11 percent, amounting to SEK 978 M (1,104).
  • The underlying operating result amounted to SEK 9 M (12).
  • Operating result, affected by non-recurring costs of SEK -45 M (0), amounted to SEK -45 M (10).
  • The result after tax was SEK -53 M (0).
  • Cash flow from operating activities was SEK 51 M (-54).
  • Earnings per average number of shares amounted to SEK -0.20 (0.00).
  • Decision to close the unprofitable parts of the operations in the Czech Republic and Slovakia.
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