Kenneth G. Mondero

Gemfields’ Emerald Auction Transfers in Zambia

Jul 01 2013 @ 03:37
Regular private and institutional buyers of rough emeralds in Singapore will have to leave the Southeast Asian Lion City and fly over five thousand miles to the African state of Zambia if they want to purchase the vitreous green mineral mined from the world’s largest emerald mine. Mila Kunis, spokeswoman for Gemfields (LSE:GEM), maybe disappointed […]

IMIC-Afferro Merger Signed

Jun 24 2013 @ 08:09
Alternative Investment Market-listed firms, International Mining and Infrastructure Corporation plc (LSE:IMIC) and Afferro Mining plc (LSE:AFF) have signed a definitive arrangement agreement for the acquisition of Afferro Mining by IMIC, both firms announced earlier today. Afferro, which had earlier received several offers, including from IMIC, since December 2012, agreed to the 120-pence per...

Rio Tinto Holds On to Diamond Business

Jun 24 2013 @ 06:51
Diversified mining giant Rio Tinto plc (LSE:RIO) will keep its diamond business, the London-based firm in the midst of a divestment programme to strengthen its balance sheet hit by higher cost and falling commodity prices last year, said Monday. In a statement, Rio Tinto said it decided to retain ownership of one of the largest […]

Red Is the Colour of the Day

Jun 20 2013 @ 12:19
When every other stock market around the globe is having a sell-off for two consecutive days now, it is cannot be denied that the colour of the day is red. Since Uncle Ben Bernanke issued his statement yesterday, virtually every major stock market in the world was mired in red, as if also bleeding upon […]

NYSE Euronext – IntercontinentalExchange Merger Imminent

Jun 18 2013 @ 08:58
Almost six months after it was announced, the merger of commodities trading exchange IntercontinentalExchange (NYSE:ICE) and NYSE Euronext, the parent company of the New York Stock Exchange (NYSE), is nearing its completion to establish one of the largest trading markets operator in the world. Reuters News Organisation has learned from its sources that the European […]

The World Is Changing

Jun 17 2013 @ 21:29
“The world is changing” – one of the lines in one of the many Japanese anime that touches the state of global affairs and a few hours ago the world has witnessed the announcementof a landmark deal from four of the most powerful persons in the world – the President of the United States of the […]

Glencore Xstrata Raises US$17B Credit Lines

Jun 14 2013 @ 03:56
Recently minted commodities and mining powerhouse Glencore Xstrata said today the firm was able to raise a new set of syndicated credit facilities to replace the previous ones held by Glencore and Xstrata before they merged. An overwhelming show of confidence in the one of the world’s largest mining company was given by 80 banks, […]

“Eurozone to Contract Even Further” – World Bank

Jun 13 2013 @ 07:37
Stock markets in Europe entered the red territory in Thursday trading in response to the latest revision of the World Bank of the outlook in the 17-member single currency union of the Eurozone and of the global economy. Releasing its Global Economics Prospects, the World Bank said the Eurozone will contract even further – from […]

Rio Tinto Sells Nickel-Copper Mine for US$325 Million

Jun 13 2013 @ 03:53
Mining giant Rio Tinto plc (LSE:RIO) has agreed to sell its nickel-and-copper mine in United States as part of its cost-cutting measures, the Anglo-Australian firm divulged earlier today. In a statement, Rio Tinto said it has reached a binding agreement to sell the Eagle Project for US$325 million in cash to Toronto-based firm Lundin Mining […]

US Stocks Rise on May Jobs Growth Report

Jun 07 2013 @ 10:43
The highly anticipated non-farm employment data of the US economy in May is out and the numbers showed the number of jobs grew slightly more than what predicted by economists, with the increased unemployment rate seen as a sign more people are now on the job hunt. Releasing the data an hour before trading opens […]
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