Eddie Spence (@Edspencive) / Twitter

La minera Yanaquihua donde murieron 27 es un socio importante de Suiza en sus esfuerzos por tener un suministro de oro responsable El 2020 firmó un acuerdo con Swiss Better Gold y la gran refinería suiza Metalor actualmente le compra todo su oro

bloomberg.com

Deadly Peru Mine Is Partner in Switzerland’s Efforts to Clean Up Gold Supply

A gold mine in Peru where 27 workers died in a fire over the weekend is a partner of Swiss institutions in their effort to ensure responsible sourcing from informal miners in the Andean country.

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Eddie Spence

@Edspencive

16h

A gold mine in Peru where 27 workers died is a partner of Swiss institutions looking to source from artisanal miners from

@mrochabrun

bloomberg.com

Deadly Peru Mine Is Partner in Switzerland’s Efforts to Clean Up Gold Supply

A gold mine in Peru where 27 workers died in a fire over the weekend is a partner of Swiss institutions in their effort to ensure responsible sourcing from informal miners in the Andean country.

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Robert Jameson

@rhjameson

May 10

Gold held gains, with investors turning their focus to upcoming US inflation data that the Fed will pay attention to bloomberg.com/news/articles/ via

Gold Steady as Inflation Data Could Prove Key to Next Rate Move

Gold held gains, with investors turning their focus to upcoming US inflation data that will influence the Federal Reserve as it mulls when to pause its monetary tightening cycle.

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Eddie Spence Retweeted

Bloomberg Crypto

@crypto

May 10

The IMF cautions Zimbabwe against adopting a gold-backed digital currency to deal with macroeconomic challenges, saying it should rather liberalize its forex market

bloomberg.com

IMF Cautions Zimbabwe Against Plan for Gold-Backed Digital Money

The International Monetary Fund cautioned Zimbabwe against adopting a gold-backed digital currency to deal with macroeconomic challenges like volatility in the local unit, saying it should rather...

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Eddie Spence

@Edspencive

May 5

Understandably a lot of euphoria in the gold market right now, but worth noting that the central bank buying that helped it weather the Fed's hikes is slowing down. Means the price will be more vulnerable to bad (good) news. Next up NFPs bloomberg.com/news/articles/ via

@markets

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Eddie Spence Retweeted

Mark Burton

@mburtonmetals

May 5

ICYMI: 26-Year-Old Set to Control City Firm as His Father Awaits Trial bloomberg.com/news/articles/ w/

@WilliamShaw546

bloomberg.com

26-Year-Old Set to Control City Firm as His Father Awaits Trial

Taking over an international investment firm is a major career milestone for anyone. It’s a particularly big moment for Julio Cesar Herrera as he steps up at the age of 26 to replace his father, who...

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Nabila Ahmed

@MsNabilaAhmed

May 5

Macquarie's top commodities trader earned more than Wall Street CEOs like Jamie Dimon last year. His division contributed almost 60% of the bank's profits.

Quote Tweet

Amber Choudhury

@AmberChoudhury

May 5

Macquarie's top commodities trader earned a whopping $39 million for the year through March 2023. bloomberg.com/news/articles/ via @MsNabilaAhmed

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Wido K Witecka

@KWitecka

May 4

Renewable electricity will continue to be scarce. Where does one MWh green electricity achieve the largest CO2 reduction? 1️⃣ replacing coal power 2️⃣ replacing diesel cars 3️⃣ heat pumps in buildings 4️⃣ renewable H2 in steelmaking 5️⃣ heat pumps in industry #electrification

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William Shaw

@WilliamShaw546

May 4

EXCLUSIVE: Britannia Financial Group is positioning the son of its founder Julio Herrera, a former Tory donor awaiting trial in Puerto Rico, as ultimate controller of the London-based company:

bloomberg.com

26-Year-Old Set to Control City Firm as His Father Awaits Trial

Taking over an international investment firm is a major career milestone for anyone. It’s a particularly big moment for Julio Cesar Herrera as he steps up at the age of 26 to replace his father, who...

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Eddie Spence

@Edspencive

May 4

Things looking slightly brighter in Europe according to ArcelorMittal, though seemingly it's largely down to the end of a long destock

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Bloomberg UK

@BloombergUK

May 4

ArcelorMittal, the world’s top steelmaker outside of China, says first-quarter profit rose as rebounding demand lifted steel prices trib.al/PZXbW55

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Eddie Spence Retweeted

BN Commodities

@BNCommodities

May 4

Newcrest Mining’s board is prepared to recommend a takeover offer from Newmont to its shareholders in what would create the world's largest gold miner trib.al/3p5UvmD via

@markets

bloomberg.com

Newcrest Board Backs $19.5 Billion Newmont Gold Takeover

Newcrest Mining Ltd.’s board is prepared to recommend a takeover offer from Newmont Corp. to its shareholders, interim Chief Executive Officer Sherry Duhe said.

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Eddie Spence

@Edspencive

May 2

GOLD: Russian customs data analyzed by Bloomberg shows how the country's gold exports are being re-routed to friendlier nations after Western sanctions. Small players are began handling the shipments after big banks pulled back bloomberg.com/news/articles/ via

@markets

bloomberg.com

Russian Gold Is in Hands of Obscure Firms as JPMorgan, HSBC Exit

With Russian gold shut out of Western markets, little-known companies are stepping in to help the country’s bullion find new buyers.

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BN Commodities

@BNCommodities

May 2

China’s Baoshan Iron & Steel has joined forces with Saudi Aramco and the kingdom’s sovereign wealth fund to set up a steel plant in the Middle Eastern nation as the two countries deepen commercial ties

bloomberg.com

World’s Top Steelmaker Signs Deal for Saudi Arabian Steel Plant

China’s Baoshan Iron & Steel Co. has joined forces with Saudi Aramco and the kingdom’s sovereign wealth fund to set up a steel plant in Saudi Arabia, as the two countries deepen commercial ties.

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Katharine Gemmell

@kathgemm

May 2

bloomberg.com/news/articles/ via

@markets

bloomberg.com

How a Blackpool Gang That Couldn’t Shoot Straight Pulled Off a $24.5 Million Crypto Heist

On a dreary British day in January 2018, two men, one in a wheelchair, the other pushing him, sped through Manchester Airport on their way to catch an Emirates jumbo jet to Dubai.

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BN Commodities

@BNCommodities

Apr 27

Turkey’s central bank draws down gold reserves to meet local demand, which is surging as citizens seek to protect themselves against inflation or currency depreciation

bloomberg.com

Turkey Central Bank Draws Down Gold Reserves to Meet High Demand

Turkey’s central bank has been selling off its gold reserves to meet local demand, which has surged as citizens seek to protect themselves against inflation or currency depreciation before elections...

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Eddie Spence Retweeted

Bloomberg Energy

@BloombergNRG

Apr 26

European steel demand is holding up well despite lingering economy worries, the CEO of Sweden’s top steelmaker says

bloomberg.com

Sweden’s Top Steelmaker Says Demand Is Defying Economic Gloom

European steel demand is holding up well despite lingering worries over the economy, according to the chief of Sweden’s top steelmaker, SSAB AB.

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Bloomberg Markets

@markets

Apr 26

NEW: Teck canceled a vote to spin off of its coal assets hours ahead of its shareholder meeting, in a boost to Glencore, which is seeking to buy the company

bloomberg.com

Teck Cancels Vote on Company Split, Bolstering Glencore

Teck Resources Ltd. canceled a vote to spin off its coal assets hours ahead of its shareholder meeting, handing the initiative to Glencore Plc in its attempt to buy the company.

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Will Kennedy

@wenkennedy

Apr 26

Breaking: Teck folds on its split plan... *TECK WITHDRAWS SEPARATION PROPOSAL

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Liezel Hill

@liezelhill

Apr 23

Glencore's takeover offer for Teck Resources revives a deal it's been trying to do for years - first under Ivan Glasenberg, and now spearheaded by his handpicked successor Gary Nagle.

@tbiesheuvel

bloomberg.com/news/articles/ via

@markets

bloomberg.com

Glencore CEO’s First Big Move: Chasing Mining’s Toughest Prize

Glencore Plc’s attempt to seal mining’s biggest deal in a decade has thrust Chief Executive Officer Gary Nagle into center stage. Little known outside Glencore before taking the job nearly two years...

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BN Commodities

@BNCommodities

Apr 18

The UK’s fraud prosecutor delays a long-awaited decision whether to charge up to 11 ex-Glencore employees involved in the widespread corruption perpetrated at the company

bloomberg.com

Glencore Staff Bribery Charges Delayed Until Later This Year

The UK’s fraud prosecutor is to delay a long-awaited decision whether to charge as many as 11 ex-Glencore Plc employees involved in the widespread corruption perpetrated at the company.

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Mumbi Gitau Grace

@MumbiGitau

Apr 18

A potential El Nino weather phenomenon risks derailing an expected boost to global sugar supplies bloomberg.com/news/articles/ via

@markets

bloomberg.com

Looming El Nino Threatens Sugar’s Much-Needed Supply Boost

The rising threat of an El Nino weather phenomenon risks derailing an expected boost to global sugar supplies and keeping prices high.

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Thomas Biesheuvel

@tbiesheuvel

Apr 18

Veteran mining dealmaker Mick Davis has raised $590 million for his critical metals investment vehicle

bloomberg.com

Mining Veteran Mick Davis Raises $590 Million for Metals Fund

Mining veteran Mick Davis’s investment firm raised $590 million as the dealmaker steps up his hunt for the metals needed for the energy transition.

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Bloomberg UK

@BloombergUK

Apr 15

The unfolding corporate drama between Glencore and Teck underscores how huge mining mergers are back on the agenda

bloomberg.com

Glencore Boss Digs in for Battle as Momentum Shifts Against Teck

Teck Resources Ltd. Chief Executive Jonathan Price began last week on a blistering note, declaring a $23 billion takeover bid from Glencore Plc a “non-starter” and slamming his mining rival’s history...

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Eddie Spence Retweeted

Fraser Nelson

@FraserNelson

Apr 14

Jeremy Clarke’s column this week is being widely shared and acclaimed: we’ve made it free to read:-

spectator.co.uk

My world has shrunk to my bed

I was discharged from hospital into local taxi driver Gilles’s brand-new metallic blue Skoda, of which he is intensely proud. I’d been in for more than a week. My pain level had been assessed and the...

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Eddie Spence

@Edspencive

Apr 13

JPMorgan also cutting credit to some gold refining clients. Cuts go beyond the base metals unit embroiled in the nickel crisis

Quote Tweet

Jack Farchy

@jfarchy

Apr 13

JPMorgan has cut dozens of base metals clients and slashed bankers’ bonuses after last year's nickel crisis @cangsizhi @Edspencive bloomberg.com/news/articles/

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BN Commodities

@BNCommodities

Apr 13

China is set to release a plan that requires domestic steelmakers, who contribute more than half of global production, to keep this year’s output from exceeding 2022 levels, in an effort to grapple with a tepid post-pandemic recovery

bloomberg.com

China to Release Plan to Cap Steel Output at 2022 Level in April

China is set to release a plan that requires domestic steelmakers, who contribute more than half of global production, to keep this year’s output from exceeding 2022 levels, in an effort to grapple...

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BN Commodities

@BNCommodities

Apr 4

Three executives of a British steel trading business jailed over a $500 million trade finance fraud scheme

bloomberg.com

Steel Bosses Get Jail Time in $500 Million Trade Finance Fraud

Three executives of a British steel trading business were jailed over a $500 million trade finance fraud scheme.

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Quote Tweet

They're baaaa-aaack! BHP positioning for a return to large-scale M&A: Expanded deals team + interested in pursuing a transformational deal + examining options and running models on rivals including Glencore and Freeport scoop by @tbiesheuvel @DNair5 bloomberg.com/news/articles/

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Jack Farchy

@jfarchy

Apr 3

Breaking: Glencore has been rebuffed by Teck in an attempt to buy the $20bn mining company

bloomberg.com

Teck Rejected Unsolicited Takeover Proposal from Glencore

Canada’s Teck Resources Ltd. rejected a proposal from Glencore Plc to buy the company for shares and then spin off their combined coal businesses, in the latest sign of dealmaking heating up across...

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Eddie Spence Retweeted

Petra Sorge

@petrasorge

Mar 31

A small lithium refinery outside London prepares for a new wave of rivals: RockTech in Brandenburg's Guben, AMG in Bitterfeld, Tees Valley Lithium & Green Lithium in the Northeast of the UK are entering Europe's nascent battery supply chain bloomberg.com/news/articles/ via

@markets

bloomberg.com

Europe’s Lone Lithium Refinery Prepares for New Wave of Rivals

For 47 years, a chemicals producer in London’s commuter belt has been running a small lithium refinery that’s the only one of its kind in Europe. Now Leverton Lithium is expanding as the rush to...

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Bloomberg

@business

Mar 29

The UK is working toward taxing imports of some products made using highly polluting processes, to help shield British manufacturers from competitors facing less stringent regulations

bloomberg.com

UK Carbon Import Tax Would Protect British Industry, Sunak Says

The UK is working toward taxing imports of some products made using highly polluting processes, to help shield British manufacturers from competitors facing less stringent environmental regulations,...

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Eddie Spence Retweeted

CPM Group

@CPMGroupLLC

Mar 20

Interested In Gold? CPM Group's 2023 Gold Market Outlook Seminar is on March 28th. Click the link and reserve your spot now! cpmgroup.com/2023goldmarket #GOLD #preciousmetals #Commodities

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Bloomberg

@business

Mar 27

A rally in gold prices to an all-time high in India is deterring local buyers in the runup to what is normally a key demand period next month

bloomberg.com

Gold Near Record in India Means Buyers Are Seen Staying Away

A rally in gold prices to an all-time high in India is deterring local buyers in the runup to what is normally a key demand period next month, according to the World Gold Council.

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Bloomberg Middle East

@middleeast

Mar 24

Polymetal International may list in Abu Dhabi, becoming the first company with majority Russian operations to trade in the Middle East

bloomberg.com

Russia-Linked Gold Miner Polymetal May List in Abu Dhabi

Polymetal International Plc may list in Abu Dhabi, becoming the first company with majority Russian operations to trade in the Middle East, as the gold miner re-domiciles from Jersey to Kazakhstan.

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ahmed binsulayem

@ahmedbinsulayem

Mar 24

UAE: Ministry fines 29 companies over Dh22 million for non-compliance These companies were operating in the designated non-financial business and professions sector

khaleejtimes.com

UAE: Ministry fines 29 companies over Dh22 million for non-compliance

UAE's Ministry of Economy has imposed fines worth Dh22.6 million on 29 companies...

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Bloomberg UK

@BloombergUK

Mar 24

A series of metals market scandals underlines the fragility of the warehouse and shipping networks that the industry relies on

bloomberg.com

Why Metals Keep Going Missing in Commodity Trading

A succession of scandals has shaken metals markets and reawakened concerns about the fragility of warehousing and shipping networks that play a critical role in the industrial economy. The latest...

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Eddie Spence Retweeted

Jan Nieuwenhuijs

@JanGold_

Mar 23

Russia Says Gold Hoard Grew as West Imposed Sanctions uk.finance.yahoo.com/news/russia-sa

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Todd Gillespie

@_ToddGillespie

Mar 23

Power traders in the UK have pulled in half a billion pounds by using the stations they control in ways that worsen tight markets and increase energy bills Regulator Ofgem has now called the practice “manipulation” Exclusive

@business

investigation

bloomberg.com

Consumers Foot the Bill For Traders ‘Manipulating’ UK Power Market

Some of the UK’s biggest energy companies participate in a practice that regulators say drives prices higher.

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Eddie Spence Retweeted

Javier Blas

@JavierBlas

Mar 23

MUST READ: The “daylight robbery” in the U.K. wholesale electricity market, where some commodity traders — and Vitol is very prominent among them — are making a fortune by gaming the system (and ‘gaming’ is the charitable term)