Kenneth G. Mondero

Lonmin Earnings Drilled By Protracted Strike

May 12 2014 @ 03:30
The protracted industrial action at Lonmin’s (LSE:LMI) mines in South Africa compounded by low prices of PGM metals and inflation have found their way to the income statement of the world’s number three producer of platinum. Lonmin’s underground production at its main operations in Marikana,  plunged 81 percent to only about 500,000 tonnes during the […]

Barclays to Cut 14,000 Jobs

May 08 2014 @ 03:34
About 14,000 jobs will be lost by the end of 2014 at Barclays (LSE:BARC) as the bank revealed its earlier promised strategy moving forward after adjusted profits for the first quarter of this year fell. In a statement today, Barclays said half of the job cuts will come from the group’s investment arm, which saw […]

Investment Banking Hits Barclays Q1 Profits

May 06 2014 @ 04:10
Shares of Barclays plc (LSE:BARC) fell at the opening of trading in London on Tuesday, after the UK bank revealed its adjusted profit before tax for the first quarter of 2014 were hit by lower revenue from its investment arm. In a statement, Barclays said adjusted profit before tax fell five percent to £1.693 billion. […]

Glencore Xstrata Reports Annual Production A Year After Merger

May 06 2014 @ 03:26
A year after Glencore and Xstrata merged into one of the world’s largest commodity trading and mining company, the Anglo-Swiss London-listed firm reported today its first full year production. Saved for zinc, production of every other natural resource that the FTSE 100 company mines was up. “Marketing performance during the quarter, across all business segments, […]

BP Q1 Profits Fall

Apr 29 2014 @ 04:14
Profits of BP (LSE:BP.) for the first quarter of the year fell almost a fourth compared to the same period in 2013 but the oil giant announced it will issue quarterly dividend higher than a year ago, the London-listed firm said early Tuesday. In a statement, BP posted US$ 3.2 billion for the January – […]

UKFI To Vote Against Any 200% Bonus in RBS

Apr 25 2014 @ 05:36
The UK Financial Investments Limited, Britain’s manager of Government assets in the Royal Bank of Scotland (LSE:RBS) will vote against any proposal which would give bonuses to the bank’s executives up to twice as much as their salaries, the Board of the Royal Bank of Scotland told Friday. 81-percent government-owned RBS had earlier contemplated, in […]

Tullow Oil Abandons Mauritanian Well

Apr 25 2014 @ 04:51
Tullow Oil (LSE:TLW) has decided to plug and abandon its second exploration well offshore of Mauritania after tit failed to show hydrocarbon, the independent oil and gas explorer said Friday. In a statement, the FTSE 100 oil producer said the Tapendar-1 well, which was drilled to test two targets, encountered water-bearing sands in one and […]

Shell Drills New Gas Discovery in Malaysia

Apr 17 2014 @ 04:10
Royal Dutch Shell (LSE:RDSA) (LSE:RDSB) successfully drilled a new gas discovery off the coast of Malaysia, the petroleum giant announced today. In a statement, Shell reported it encountered 450 metres of gas column after drilling Rosmari-1 to a depth of 2,123 metres, 135 kilometres off the coast of Sarawak state, in the island of Borneo. […]

BHP Billiton Raises Outlook for Iron Ore and Coal Outputs

Apr 16 2014 @ 04:04
Anglo-Australian oil and mining firm BHP Billiton (LSE:BLT) is raising its outlook for its iron ore and coal outputs for the 2014 fiscal year, BHP Billiton’s Chief Executive, Andrew Mackenzie said, Wednesday. In a statement, Mackenzie, who will be in his first year as CEO of BHP Billiton on May 10th, said the company is […]

Christine Hits Rio Tinto’s Iron Ore Business

Apr 15 2014 @ 03:57
Global mining giant Rio Tinto (LSE:RIO) revealed Tuesday morning its iron ore production fell on account of “seasonal weather patterns” affecting its Australian mines. In its first quarter report for 2014, the London-listed firm produced 66.4 million tonnes (Mt) of iron ore, six per cent lower than its output in the last quarter of 2013. […]
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