Funding & Business
Chinese Copper Smelters Get Only Short-Term Relief on Margins
Chinese copper smelters are getting short-term relief from higher fees, although the improvement in profitability may not be enough to entice them into lifting production.
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BHP Group Ltd. said it will shutter one of its Queensland coal mines and slash about 750 jobs across the division, citing high state royalties and weak market conditions that have made low-margin operations unsustainable.
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Gold held its latest gains that saw it rise above $3,700 an ounce for the first time, boosted by traders’ bets for a rate cut at Wednesday’s Federal Reserve meeting.
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WaterBridge Infrastructure LLC raised $634 million in its upsized US initial public offering, pricing its shares at the top of a marketed range.
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