Kuwait's oil minister said on Tuesday global markets have been able to absorb the gradual oil production increases introduced by the Organization of Petroleum Producing Countries (OPEC) and its allies in May, state-run KUNA news reported.
Africa-focused gold miner Allied Gold Corp, backed by U.S. private equity firm Orion Mine Finance Group, has hired investment banks for a London listing later in 2021, taking advantage of renewed investor interest for the mining sector, two sources said.
By Reuters Staff
2 Min Read
SAO PAULO (Reuters) - Brazilian miner Vale said in a securities filing on Tuesday it will suspend operations at its Sudbury, Canada nickel mine, after its proposal for a five-year contract was rejected by the United Steelworkers union.
United Steelworkers Local 6500, which represents 2,600 workers at the mine, said in a statement that 70% of those who voted were opposed to the Vale offer and wanted the union - whose bargaining committee had recommended the preliminary deal - to return to the bargaining table.
“What we have is a clear message from our membership that our bargaining team . has taken back to the company,” said Kevin Boyd, vice president at USW Local 6500, adding that talks are ongoing.
Asian shares were trying to extend their recent rally to a third week on Monday in the hope critical U.S. jobs figures show the expected revival in hiring in May and keep the global economic recovery on track.
(The opinions expressed here are those of the author, a columnist for Reuters.)
FILE PHOTO: Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee in Australia, March 8, 2018. Picture taken March 8, 2018. REUTERS/David Gray
LAUNCESTON, Australia (Reuters) - A court ruling that Royal Dutch Shell must speed up plans to curb greenhouse gas emissions rocked the global oil and gas industry, but another decision in a case brought by eight school-aged teens and a nun may end up being more significant.
The order by a Dutch court that Shell must drastically deepen its planned emission reductions raised fears in the industry of similar legal actions against other oil and gas majors, and concern that companies will be held liable for meeting court imposed climate change targets.