US markets mixed, March 29-April 1
The Dow Jones Industrial Average rose 0.24% to finish the week at 33,153.21 and the S&P 500 fell 0.77% to 3,913.10. Spot gold dropped US$3 per oz., or 0.17%, to US$1,730.30 per ounce.
AngloGold Ashanti jumped US$1.95 to US$22.98. Interim CEO Christine Ramon said on March 31 that the company does not need to pursue mergers and acquisitions and won’t add scale for its own sake, dampening speculation that it might take part in further consolidation in the sector. Earlier in the month, Neal Froneman, Sibanye-Stillwater’s CEO, floated the idea of a merger with AngloGold and Gold Fields, arguing that consolidation is needed for South Africa’s gold miners to compete globally. Reuters reported on March 31 that Ramon had declined to comment when asked about a potential tie-up with Gold Fields during a roundtable at the Mining Indaba conference, which also included Froneman. While Ramon acknowledged that consolidation could bring benefits genera
Brazil s Vale completes sale of New Caledonia nickel operations
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Vale sells nickel mine in New Caledonia latinfinance.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latinfinance.com Daily Mail and Mail on Sunday newspapers.
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Independence movement wins majority in New Caledonia government Independence movement wins majority in New Caledonia government Feb 18, 2021
In a major transformation, the incoming government of New Caledonia will be led by the first pro-independence leader in nearly forty years. Members of the independence coalition Front de Libération Nationale Kanak et Socialiste (FLNKS) won six of eleven positions in the multi-party government, during a secret ballot in New Caledonia’s 54-member Congress.
The ballot on Wednesday afternoon came after the collapse of the New Caledonia government two weeks ago. On 2 February, the presidency of Thierry Santa was cut short after the resignation of the five FLNKS members. Any minister who resigns must be replaced by a member of the same parliamentary group. If no successor is nominated, the government loses office and Congress must choose new members for the executive. These government ministers in turn elect a new President