11 February 2012

Sectors: Resources

08/06/2010 James Crux

Gold may be holding its own as one currency after another comes under fire in unfolding government debt crises. But oil has been coming under pressure as the markets reckon the financial turmoil can only be bad for the world’s economy.
The price of Brent crude recently slid below $70 a barrel for the first time since February. It seems that production cuts agreed among the OPEC cartel have not been applied as comprehensively as in the past.

Coal remains popular, in China and elsewhere. Mining luminary Graham Mascall plans to raise £60.6 million for Ncondezi Coal to fund work on major coal projects in Mozambique.

Mascall, a former head of business development at mining giant BHP Billiton and currently chairman of emerald group Gemfields and director of iron ore play London Mining, is targeting first production from Ncondezi in late 2014,
after estimated capital spending in the region of £170 million.

Sector: Mining

Companies: BHP Billiton , Gemfields , London Mining

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