Metals remain mixed on July 14
On Thursday, July 14, the stocks related to base metals and precious metals remained mixed. At 3:10 PM EDT, the PowerShares DB Base Metals ETF (DBB) and the SPDR S&P Metals & Mining ETF (XME) rose by ~0.39% and ~1.2%, respectively. The SPDR Gold Shares ETF (GLD) fell by ~0.82%.
It’s unlikely to reopen Samarco in 2016- BHP
BHP Billiton (BHP), the Anglo-Australian multinational miner, noted on July 14 that it is unlikely to restart operations in the Samarco project, which is jointly owned by BHP Billiton and Vale (VALE).
On November 5, 2015, the dam failure in the Samarco project resulted in an overflow that flooded the nearby villages. That disaster was followed by a major ~$8 billion civil claim for clean-up activities. According to BHP Billiton, the operations will be restarted only after it is safe and when it acquires the necessary proposals for production.
Since the beginning of 2016, BHP Billiton (BHP) has risen by ~20%. At 12:38 PM EDT on July 14, BHP was trading at $30.93, a gain of ~0.06%.