domingo, 19 de octubre de 2014

Randgold (GOLD): Moving Average Crossover Alert

Randgold Resources Ltd. (GOLD) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for GOLD broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 7.6% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for GOLD stock.

If that wasn't enough, Randgold isn't looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

Consider that in the last 30 days, 2 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

That is why we currently have a Zacks Rank #5 (Strong Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for GOLD.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

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'Fast Money' Recap: Roller-Coaster Week Ends With a Rally

Bret Kenwell

10/04/14 – 05:00 AM EDT

NEW YORK (TheStreet) — The S&P 500 rallied 1.12% following a stronger-than-expected nonfarm payrolls report for the month of September.

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Randgold Resources (GOLD) Downgraded From Buy to Hold

TheStreet Quant Ratings

10/02/14 – 09:07 AM EDT

Editor’s Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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European shares close down after volatile trade

RANKFURT/MAIN, Germany: A trader sitting in front of a chart displaying German share index DAX gestures as he speaks on the phone

THOMAS LOHNES | Getty Images

RANKFURT/MAIN, Germany: A trader sitting in front of a chart displaying German share index DAX gestures as he speaks on the phone

Meanwhile, British recruiting firm Hays shares closed up 4.9 percent after announcing a rise in first-quarter net fees.

Carmaker BMW closed up 1.8 percent after an analyst upgrade from JPMorgan.

Shares of Gerresheimer closed down 5.4 percent after the glass and plastic producer was downgraded by JPMorgan and Berenberg.

BoE holds fire

The Bank of England left its benchmark interest rate unchanged as expected on Thursday, as wage growth and productivity remained surprisingly weak, lagging the country’s economic recovery.

The U.K. central bank’s nine-member Monetary Policy Committee left the bank’s main interest rate at a record low of 0.5 percent and the total size of its bond portfolio at £375 billion ($617 billion) after their October policy meeting.

Read MoreBank of England holds fire as wage growth lags

On the economic data front, Germany posted its biggest fall in foreign trade for five and a half years on Thursday morning. The Federal Statistics Office noted that late summer vacations had accentuated the fall in both exports and imports.

Later on Thursday, European Central Bank President Mario Draghi spoke at the Brookings Institution in Washington D.C. He reiterated his message that without reforms there could be no recovery in Europe.

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The Mining Journal - Official Site

unable to retrieve full-text contentThe Mining Journal – The best source for local and national news, sports, weather, and features in Marquette. The Mining Journal serves the city and county of …

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mining new - MiningNews.net - Home

Monday
20 October 2014
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Mining Journal - Top Stories

Veteran mining IT executive Peter McLure says the fairly linear advance of mining's technology-change 'curve' over many decades should now mirror the trajectory of other industries, where exponential rates of adjustment are becoming the norm in response to, or anticipation of, disruptive factors.

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MiningWeekly.com | Breaking News | Real-Time Mining News

By: Reuters

Chile reduced its forecast for production of copper in 2014 to 5.83-million tonnes, down from a previous prediction for 5.95-million tonnes.

State copper commission Cochilco said on Friday that the country, the world’s top copper producer, would likely produce a record 6.23-million tonnes in 2015.

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Michigan Mining Industry News - Mining Industry Today

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The Daily Mining Gazette - Official Site

Word of the Day — May 30, 2013

May 31, 2013 arch – arch – deliberately or affectedly playful & teasing Example: “Emily Nussbsum’s review of the TV ‘Behind the Candelebra’ biopic said, ‘There are scenes, particularly during the breakup… more

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Mining News, world-mining-companies.blogspot.companies & Market Information ...

unable to retrieve full-text contentMining news and commentary from around the globe. Daily updates on gold and commodity prices, exploration, mine development and world-mining-companies.blogspot.company activities.

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Quote mining - RationalWiki

Quote mining is the deceitful tactic of taking quotes out of context in order to make them seemingly agree with the quote miner’s viewpoint or to make the comments of an opponent seem more extreme or hold positions they don’t in order to make their positions easier to refute or demonize.1 It’s a way of lying. This tactic is widely used among Young Earth Creationists in an attempt to discredit evolution.

edit Prime examples

See also Popular quote mines for a list of further examples.

The following quote, mentioned in New Scientist, has been used in an attempt to discredit evolution:2

""In any case, no real evolutionist, whether gradualist or punctuationist, uses the fossil record as evidence in favour of the theory of evolution as opposed to special creation.3

However, the quote leaves out the very next sentence, which not only provides context, but shows the author’s point of view much more accurately:

""This does not mean that the theory of evolution is unproven.

The article later goes on to state that:

""So what is the evidence that species have evolved? There have traditionally been three kinds of evidence, and it is these, not the “fossil evidence”, that the critics should be thinking about. The three arguments are from the observed evolution of species, from biogeography, and from the hierarchical structure of taxonomy.

edit Darwin

Another famous example, possibly one of the most famous examples of quote mining, is the following misquotation of Charles Darwin, where the bold section is often presented without including the rest of the quote.

""To suppose that the eye, with all its inimitable contrivances for adjusting the focus to different distances, for admitting different amounts of light, and for the correction of spherical and chromatic aberration, could have been formed by natural selection, seems, I freely confess, absurd in the highest possible degree. Yet reason tells me, that if numerous gradations from a perfect and complex eye to one very imperfect and simple, each grade being useful to its possessor, can be shown to exist; if further, the eye does vary ever so slightly, and the variations be inherited, which is certainly the case; and if any variation or modification in the organ be ever useful to an animal under changing conditions of life, then the difficulty of believing that a perfect and complex eye could be formed by natural selection, though insuperable by our imagination, can hardly be considered real. How a nerve comes to be sensitive to light, hard ly concerns us more than how life itself first originated; but I may remark that several facts make me suspect that any sensitive nerve may be rendered sensitive to light, and likewise to those coarser vibrations of the air which produce sound.

—(Darwin 1872, 143-144)4

As may be seen, the quote has been taken out of context to give it the opposite meaning, thus appearing to support a different conclusion from that in the original article. Bolder quote miners may actually use ellipsis to omit material that contradicts their point of view even in the middle of a sentence or paragraph,5 safe in the knowledge that their audience will not look up the full quote. 6

Supporters of this dishonest tactic often defend themselves against accusations of quote mining by stating that only supporters of evolution use the term, therefore it is invalid.7 However, this is largely because the primary group using these tactics, strenuously avoided in academic circles, are Young Earth Creationists, therefore their opponents will most often be the ones leveling the charge. This says less about the validity of the term as the desire to cling to a spurious tactic when few, if any, other arguments are available.

As a result of widespread use of quote mining in YEC circles, several sites8 have been set up as “quote mines”, providing lists of mined quotes without the need to actually go to the source material. Most users of these quotes have never read the original source material, and would likely be hard pressed to actually find copies.9

edit Fahrenheit 9/11

A classic and definitive example of quote world-mining-companies.blogspot.comes in Michael Moore’s Fahrenheit 9/11. Moore excerpts a speech by Condoleeza Rice, where she says:

""Oh, indeed there is a tie between Iraq and what happened on 9/11

At which point the camera cuts away, the audience laughs and thinks that Rice is being deceptive in trying to argue that al Qaeda and Iraq were jointly involved in planning 9/11. The rest of the speech continues:

Oh, indeed there is a tie between Iraq and what happened on 9/11. It's not that Saddam Hussein was somehow himself and his regime involved in 9/11, but, if you think about what caused 9/11, it is the rise of ideologies of hatred that lead people to drive airplanes into buildings in New York. This is a great terrorist, international terrorist network that is determined to defeat freedom. It has perverted Islam from a peaceful religion into one in which they call on it for violence. And they’re all linked. And Iraq is a central front because, if and when, and we will, we change the nature of Iraq to a place that is peaceful and democratic and prosperous in the heart of the Middle East, you will begin to change the Middle East….

Rice did try to place the blame for 9/11 on Iraq by declaring it “a central front” of a “great terrorist, international terrorist network,” however stated that Saddam was not directly involved in 9/11. When Moore cited only one part out of context, he failed to include the entire statement where Rice says Saddam didn’t plan 9/11 but actually is part of the terrorist conspiracy that caused 9/11 while not actually being involved (see: doublethink). It is also worth noting that the speech was made in November 2003, so it is disingenuous for Moore to argue that it was a part of “drumming up public support for the war” which started in March 200310.

edit Climategate

In which leaked e-mails were copiously quote mined in order to insinuate scientists were using “tricks” to “hide the decline.” In fact, this wasn’t just quote mining choice phrases out of context, it involved actively removing the explanation of what “hide the decline” even meant. SPOILER ALERT: It didn’t mean “covering up” or “faking data” but something far more boring – simply counteracting data that was known to be wrong.

edit Quote mining in action

For those wishing to see more quote mining in action, the Conservapedia article on evolution makes extensive use of quote mining and is an excellent illustration of this devious practice.11

More excellent examples of quote mining can be found in our article about the “leader’s guide” released by the producers of the film Expelled: No Intelligence Allowed.

Some notable mined nuggets:

edit Quote Mining Index – QMI

In his book The Greatest Show on Earth, Richard Dawkins jokingly suggested that you could create a Quote Mining Index (QMI) by calculating the ratio of the number of times a quote is mined versus the number of times it is quoted in full (or when context is also quoted) – using Google search results as a proxy for how many times the quotes appear. For example, his quote,

""It is as though they were just planted there, without any evolutionary history.

returns 1,250 hits on Google. Whilst the next sentence:

""Evolutionists of all stripes believe, however, that this does not represent a very large gap in the fossil record.

receives only 63 hits. That is 19.8 quote mines to every “legitimate” use of the quote, or a QMI of 19.8.

edit Quote mining the Bible

No, you don’t say!

Biblical quote mining is rampant among theologians, especially Christian fundamentalists. Taking advantage of how many authors and editors that created the Bible left behind many contradictions and other situations where the Bible can be quoted against itself (sometimes even within the same book!), Christian writers have often decontexted Biblical verses to get whatever twisted interpretation they can out of them; for example, Psalm 37:412 has been used to justify name it and claim it theology.

As the Bible says:13

edit Quote Mining News

Consapiracy Theorist, being completely baseless, need to resort to this to give the illusion of overwhelming amount of evidence. By doing this you can do things like: Make the UN announce an International Court, announce a Global Currency, and Make Obama announce a New World Order by quoting him saying the “Old order” is not working and that they need a “new order”14

edit Other evangelistic quote-mining

Some Christian groups have selectively quoted Albert Einstein and Richard Dawkins for evangelistic purposes.15

edit Quote mines (external links)

These places have done all the hard work for you, so all you need to do is cut and paste to prove evolution is wrong, etc.

edit See also

  1. ↑ If you’re good, you can also pretend your fellow loonies said nice things rather than nasty things.
  2. ↑ Conservapedia – Talk:Theory of Evolution/Archive 1
  3. ↑ New Scientist, vol. 90, 25 June 1981, p. 831 Mark Ridley, Who doubts evolution?
  4. ↑ One recent example is here
  5. ↑ This example from the movie Expelled is particularly malicious.
  6. ↑ A seemingly quite recent (2008) addition to the quote miner’s armoury has been a quote pulled from Darwin’s The Descent of Man, alleging to show he was a racist as demonstrated by Ken DeMeyer at Conservapedia. Whenever this half paragraph is quoted by creationists, it always demonstrates the same omission thus revealing (ahem) the common descent of the quote mine. The ellipsis conceals the omission of the text “as Professor Schaaffhausen has remarked (18. ‘Anthropological Review,’ April 1867, p.236.)” revealing Darwin was repeating the opinion of his academic colleagues at the time, and regardless of whether he was or was not a racist his views were held in common with the greater part of the western world. Incidentally, thanks to the Internet one can now read Darwin’s quoted source without even a trip to a university library. Also of note is the very next article in the review, entitled “The theory of development and its bearing on science and religion” which reminds us that the battle of getting fundamentalists to understand that while not antagonistic to their beliefs, science does in fact rule out events of creation by fiat has been going on for over a century and half.
  7. ↑ 1 “Panel and Quote Mining”
  8. ↑ Quote Mine Project: Or, Lies, Damned Lies and Quote Mines, talk.origins Archive
  9. ↑ 2 Answers in Genesis quote page
  10. ↑ The basis for this example comes largely from the internet essay 56 deceits in Fahrenheit 911 by Dave Kopel, found here
  11. ↑ http://www.conservapedia.com/Evolution
  12. ↑ “Find your delight in the LORD who will give you your heart’s desire.” (NAB)
  13. ↑ Psalm 14:1, NIV: “The fool says in his heart, ‘There is no God.'”
  14. ↑ http://www.youtube.com/watch?v=36T6KjLgFwI
  15. ↑ Examples of Quote Mining in Posters leading up to Simon Fraser University Jesus week

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Mining Quotes - Inspirational Quotes about Mining

Inspirational Quotes about Life

May you find great value in these inspirational Mining Quotes from my large datebase of inspiring quotes and sayings.

Encouraging underground uranium mining on the Colorado Plateau um,
the federal government was the only purchaser of uranium
ore to try to manufacture uh,
atomic bombs.
- Tom Udall

We didn’t have movies in this little mining town.
When I was 12 my mom took me to New York and I saw Bye Bye Birdie,
with people singing and dancing, and that was it.
- Margot Kidder

Mining is like a search-and-destroy mission.
- Stewart Udall

My mother’s a secretary; my father’s an electrician in a world-mining-companies.blogspot.company.
- Eva Herzigova

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Each email contains an unsubscribe link. We will NEVER sell, rent, loan, or abuse your email address in ANY way.

My great-grandfather was a coal miner,
who worked in Pennsylvania mines when carts were pulled
by mules and mines were lit by candles.
Mining was very dangerous work then.
- Tim Murphy

Then there was the whole concept of coal mining,
which is a culture unto itself, the most dangerous occupation in the world,
and which draws and develops a certain kind of man.
- Martin C. Smith

He described how, as a boy of 14, his dad had been down the mining pit,
his uncle had been down the pit, his brother had been down the pit,
and of course he would go down the pit.
- Barbara Castle

I didn’t write because in the corps I took mining engineering of all things and,
you know, they, they graduate a mining engineer as a sort of an illiterate.
- Rube Goldberg

It’s a business.
If I could make more money down in the zinc mines I’d be mining zinc.
- Roger Maris

My father, a mining engineer and colliery manager,
gave his brood many advantages not least of which,
for me, was his love of singing which gave music a
central place in our lives.
- James W. Black

The coal mining industry is very destructive and it doesn’t have to be.
- Kevin Richardson

Ten years ago I was not heavily involved in the film
world but on reflection it was a boom time with the mineral boom happening,
so there was immense growth for industrial training films,
documentaries to do with the mining,
and the outback world.
- Ann Macbeth

In that sense, I became politicized because the people
in the coal mining villages who were involved in the
struggle knew why they were there.
But they couldn’t understand why some pop star from
London would want to be there.
- Billy Bragg

All the energy of the universe is mine
to use as spirit directs.
- Jonathan Lockwood Huie

Who hears me, who understands me, becomes mine,
a possession for all time.
- Ralph Waldo Emerson

That’s a big goal of mine, to try and grow as much
of my own food as possible.
- Daryl Hannah

Whatever our souls are made of, his and mine are the same.
- Emily Bronte

I had been told that the training procedure with cats was difficult.
It’s not.
Mine had me trained in two days.
- Bill Dana

Goes the song, “we change, we change.”
But the music is still mine.
- Mary Anne Radmacher

It is a cursed evil to any man to become as absorbed
in any subject as I am in mine.
- Charles Darwin

I am the Wizard. This world is mine.
I speak. It’s done. My realm is fine.
My wand, my tongue. My sword, my voice.
It’s good. It’s bad. I speak my choice.
I say happy, or I say mad.
I say angry, or I say glad.
I name that drawing on the wall.
It’s not graffiti after all.
The past has been broken. The prison’s not real.
My word holds the magic – the power to heal.
Intent is my weapon – a sword from above.
Cruel hate, fear, and anger transmute into love.
This world’s my joy. This mouth’s my toy.
Reborn -I’m a brand new girl or boy.
I choose. I speak. My will is done.
Come join. Come play. This can be fun.
- Jonathan Lockwood Huie

The greatest day in your life and mine is when we take
total responsibility for our attitudes.
That’s the day we truly grow up.
- John C. Maxwell

I spent the first fourteen years of my life convinced
that my looks were hideous.
Adolescence is painful for everyone,
I know,
but mine was plain weird.
- Uma Thurman

I have felt cats rubbing their faces against mine and
touching my cheek with claws carefully sheathed.
These things, to me, are expressions of love.
- James Herriot

A lot of movies are about life, mine are like a slice of cake.
- Alfred Hitchcock

I am merely a bit player in your stories,
as you are merely a bit player in mine.
- Jonathan Lockwood Huie

Can anything be stupider than that a man has the right
to kill me because he lives on the other side of a
river and his ruler has a quarrel with mine,
though I have not quarrelled with him?
- Blaise Pascal

If a friend of mine gave a feast, and did not invite me to it,
I should not mind a bit.
but if a friend of mine had a sorrow
and refused to allow me to share it,
I should feel it most bitterly.
If he shut the doors of the house of mourning against me,
I would move back again and again and beg to be admitted
so that I might share in what I was entitled to share.
If he thought me unworthy, unfit to weep with him,
I should feel it as the most poignant humiliation.
- Oscar Wilde

I mean, when it’s time to rhyme rhyme,
I can get down for mine.
- Missy Elliot

I started working with friends of mine and that,
to some degree, continues.
- Jim Jarmusch

All my pupils are the creme de la creme.
Give me a girl of an impressionable age,
and she is mine for life.
- Muriel Spark

Creative comedy is like growing geraniums in a mine field.
- Jerry Stiller

Everyone has his superstitions.
One of mine has always been when I started to go anywhere,
accomplished.
- Ulysses S. Grant

I’m thinking in terms of a point of departure,
a field of action for performers to express an expressive
need of mine which hopefully the context of music would convey.
- John Eaton

I guess professionally it began when Hal Hartley used
some music of mine in his film The Unbelievable Truth.
- Jim Coleman

I have heard your views.
They do not harmonize with mine.
The decision is taken unanimously.
- Charles de Gaulle

Hemingway hated me.
I sold 200 million books, and he didn’t.
Of course most of mine sold for 25 cents,
but still…
you look at all this stuff with a grain of salt.
- Mickey Spillane

After I got over the terrible pain of having something of mine taken from me,
I began to think how bad everybody else must be feeling.
It wasn’t a nice time.
- Lena Horne

I have seen doctors, in good faith, leave patients on steroids for years,
thinking they are doing right.
A friend of mine was on steroids for so long,
she has severe osteoporosis.
- Mary Ann Mobley

It was just one of those moments in the universe that was mine.
- Carlton Fisk

I have some road rage inside of me.
Traffic, especially in L.A., is a pet peeve of mine.
- Katie Holmes

To this light, then, would I recommend all,
with mine own soul, – to this sure way of salvation.
- Elias Hicks

In the South or in the mine country,
wherever you point the camera there is a picture.
- Ben Shahn

Love is an obsession.
It has that quality to it.
But there are healthy obsessions, and mine is one of them.
- Pamela Stephenson

It terrified me to have an idea that was solely mine
to be no longer a part of my mind,
but totally public.
- Maya Lin

We’re not saying that you don’t need coal,
but when you do mine the coal there are responsibilities to it.
It may cost a little more, but it is the right thing to do.
- Kevin Richardson

I think we all have madness in us, it’s just that I’ve
realized mine and found a way to let it out.
- John Glover

You may invite the entire 35th Division to your wedding if you want to.
I guess it’s going to be yours as well as mine.
We might as well have the church full while we are at it.
- Bess Truman

I am not in this world to live up to other people’s expectations,
nor do I feel that the world must live up to mine.
- Fritz Perls

I never thought I’d land in pictures with a face like mine.
- Audrey Hepburn

After wrestling with myself for six months,
I began medical treatment.
During that time I started a band with some friends
of mine called Jack’s Car,
but that didn’t last.
- Jack Irons

I stepped on a land mine named Jayson Blair.
- Howell Raines

A mate of mine said recently said a lot of stuff sounds
like you’re listening to it outside,
but also like you’re surrounded by it,
and I think that’s quite similar.
- Sean Booth

Trade is nothing else but a Commutation of Superfluities;
for instance: I give mine,
what I can spare, for somewhat of yours,
which I want, and you can spare.
- Dudley North

I’ll get mine in a few years, when I get up there and when the time comes.
- Nick Johnson

What is thine is mine, and all mine is thine.
- Marcus Tullius Cicero

When I was 12, every little girl in Russia was trying
to wear her hair like mine and playing tennis.
- Anna Kournikova

Don’t you wish you had a job like mine? All you have
to do is think up a certain number of words!
Plus, you can repeat words!
And they don’t even have to be true!
- Dave Barry

Deep Throat is a guy who could have your files and mine in his trust.
- Chuck Colson

I think about the meaning of pain.
Pain is personal.
It really belongs to the one feeling it.
Probably the only thing that is your own.
I like mine.
- Henry Rollins

In the Thirties, when I was in New York,
I did the first surrealistic ballet in a show of mine.
- Vincente Minnelli

I really believe that everyone has a talent,
ability, or skill that he can mine to support himself and to succeed in life.
- Dean Koontz

I thought I’d begin by reading a poem by Shakespeare,
but then I thought, why should I? He never reads any of mine.
- Spike Milligan

No one who ever had lessons would have a swing like mine.
- Lee Trevino

It is another’s fault if he be ungrateful,
but it is mine if I do not give.
To find one thankful man, I will oblige a great many that are not so.
- Lucius Annaeus Seneca

I respect his talents, even as he does mine.
- Jayne Meadows

I’ve had every advantage in the world,
despite the 18 years of silence which were nobody’s fault but mine.
- Gordon Getty

Perhaps the greatest challenge has been trying to keep
my time to myself and my private life private in order to do my job.
Everything that is most mine belongs to everyone now.
- Sandra Cisneros

Actually, my correspondent’s language is better than mine.
He can put his sentiment into words.
- Alfred Day Hershey

It’s great when you find somebody you’re compatible with,
but I’m really into separate bedrooms.
You live your life and I live mine.
- Claudia Christian

Well, actually yes, in 1988.
There was a warrant for me because my assistant hadn’t paid a ticket of mine.
- Esai Morales


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May the world be kind to you,
and may your own thoughts be gentle upon yourself.
- Jonathan Lockwood Huie

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Gold mine quotes & quotations - ThinkExist.com

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Chile’s copper exports down 21% in August

Chile's copper exports down 21% in August

Codelco is building a bioleaching facility at Radomiro Tomic mine in northern Chile (pictured), which will boost production as regular supplies dwindle. (Image courtesy of

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New leadership at Caterpillar's resource group

Ed Rapp is the new head of Caterpillar’s resource group after Steve Wunning, 63, retired.

Caterpillar made the announcement last week. The changeover will occur early next year.

Rapp currently oversees construction industries. He will relocate from Singapore to Peoria.

Here is excerpt from the news release from Caterpillar:

Steve Wunning Retirement

"In a Caterpillar career spanning 41 years of outstanding service, Steve played a crucial role in the development and success of Cat Logistics and our product support business," said Oberhelman. "In addition, Steve's executive leadership and long-term vision was critical to Caterpillar's largest ever acquisition in 2011, the purchase of Bucyrus International. That acquisition positions Caterpillar with an unmatched industry-leading range of surface and underground mining products and solutions for global mining customers. It's no secret the mining industry has gone through a tough period the last couple years. In the face of that challenging environment, Steve has provided outstanding leadership and guidance for our global mining employees, dealers and customers, and his acute focus on cost management will have us ready for the mining upturn," Oberhelman added.

Since joining Caterpillar in 1973, Wunning has had assignments of increasing responsibility in manufacturing, quality, product support and logistics. As one of the first employees and leaders of Cat Logistics in 1987, Steve capitalized on Caterpillar’s expertise in logistics to provide services to other companies around the world. Steve was named vice president of Cat Logistics in 1990 and president in 1994, ushering in a period of unprecedented growth for the business. In 1998, Wunning was named corporate vice president with responsibility for the Logistics and Product Services Division. In 2000, he became vice president with responsibility for Cat Logistics, which combined all of the internal Caterpillar and external client logistics operations into a single unit. In 2004, the Caterpillar Board of Directors named Wunning a group president.

Wunning has a bachelor’s degree from the University of Missouri Rolla – now Missouri University of Science and Technology – and an Executive MBA from the University of Illinois. Wunning serves on the following boards: Manufacturers Alliance/MAPI, Black & Veatch Holding Company, Kennametal Inc., American Red Cross, National Mining Association and Missouri University of Science and Technology.

Ed Rapp Becomes Group President with responsibility for Resource Industries

Caterpillar's Board of Directors has approved changes in responsibility for Group President Ed Rapp, who currently oversees Construction Industries. Rapp will replace Wunning as group president with responsibility for Resource Industries, effective January 1, 2015. He will relocate from Singapore to Peoria.

"Ed has led the reinvigoration around the world of our construction business, which has resulted in improved profitability and performance in recent years," said Oberhelman. "He's also provided outstanding leadership in developing a strong core of local leaders across the Asia Pacific region, setting the stage for our future growth and success in that part of the world."

Rapp has been a member of Caterpillar's executive office since 2007, and he served as group president and CFO from mid-2010 until 2013 when he assumed his current role as group president with responsibility for Construction Industries. He was named a Caterpillar vice president in 2000, serving as the head of the EAME Marketing Division until 2004 when he was named vice president with responsibility for the Building Construction Products Division.

Rapp joined Caterpillar as a pricing analyst in 1979. Over the next several years, he held positions with increasing responsibility related to pricing, production scheduling, marketing, dealer development, manufacturing and product development. In the 1990s, he held positions as a district manager in San Francisco, the area manager in Johannesburg, South Africa, and then held several senior positions in Geneva, Switzerland, before being named vice president with responsibility for EAME Marketing in 2000.

Rapp has a bachelor's degree in finance from the University of Missouri-Columbia and is a graduate of the University of Illinois Executive Development program.

He is a member of the board of directors of Abbvie, FMGlobal and Junior Achievement USA. Rapp is also a member of the University of Missouri College of Business Strategic Development Board.

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Iron ore price crushed again

Iron ore price getting crushed again

Railroad transporting ore from Vale’s Carajás complex in Brazil, the world’s largest iron ore mine currently being expanded at a cost of $20 billion. Source: Vale

After attempting a comeback since ending September at a more than 5-year low of $77.50 a tonne including a surge on Monday, iron ore prices are getting crushed again.

Northern China 62% Fe imports tracked by The SteelIndex on Thursday exchanged hands for $80.50 a tonne, down $1.70 on the day and 3.1% weaker since Tuesday.

After hitting a high of $158.90 in February, the industry was jolted on March 10, when iron ore suffered the worst one-day decline since the 2008-2009 financial crisis, cratering 8.3% in a single session.

The recovery from there was swift, but by mid-June ore was sliding again and quickly became a one way bet as the market fretted about a flood of new supply just as demand in top consumer China slowed.

Some observers were calling a bottom for the price of the steelmaking ingredient after Monday’s jump following data from China showing iron ore imports rebounded to the second highest this year.

China, which consumes more than two-thirds of the world’s seaborne ore and forges almost as much steel as all other countries, recorded a nearly 17% increase in imports over the first nine months of the year according to official data.

At the same time output from domestic Chinese mines which struggle with high costs and grades as low as 15% also increased, growing 8.5% to end-August.

This at a time when steel production is rising at a more modest 2.6% clip.

Two short years ago $120 a tonne were considered a price floor; the thinking being that any extended period below this level would drive out high cost Chinese mines.

When $120 came and went, $100 was considered the level swing producers would abandon the market.

With ore hovering either side of $80 for more than a month assumptions about the domestic Chinese market are being severely tested.

The country produces some 350 million – 400 million tonnes a year on a 62% Fe-basis, although reliable stats are lacking (this figure is calculated working backwards from pig iron production).

A new research report by Minerals Value Service

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sábado, 18 de octubre de 2014

Cliffs the newest victim of iron ore price slump: to take $6bn charge

Cliffs the newest victim of iron ore price slump: to take $6bn charge

Cliffs is in talks with steel makers about selling a stake in its Bloom Lake mine in Canada, among other assets.

Cliffs Natural Resources Inc. (NYSE:CLF), the largest iron ore producer in the U.S., said Friday it expects to take a $6-billion charge to write down the value of some assets in the third quarter due to weak prices for its two key commodities: iron ore and coal.

The Cleveland-based mining and natural resources company, cut to junk by Standard & Poor's last week, said the impairment is tied to expected lower long-term pricing and the difficult market for seaborne iron ore and metallurgical coal compared with its more stable U.S. iron ore business.

After attempting a comeback since ending September at a more than 5-year low of $77.50 a tonne, the steel-making commodity sank again yesterday amid Australian and Brazilian miners announcing they will continue to rise output even as top consumer China imports less.

So far this year iron-ore prices have fallen by more than 40%. Prices for metallurgical coal, another steelmaking ingredient,

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Copper price below $3 as mines add a million tonnes

In late afternoon trade in New York on Thursday, December copper was trading at $2.9845 a pound, recovering from a low of $2.9525 hit earlier in the day, but down more than 4% since Tuesday.

It was the first time since March that the red metal traded below the psychologically important $3.00 a pound level on the back of weak economic news out of China, consumer of 45% of the globe’s copper, and growing supply side worries.

The copper price fell despite news of exports from the world's number one producing country Chile fell 21% year-on-year in August.

The South American nation, responsible for more than 10% of world output, exported 443,400 tonnes in August, compared with 561,400 tonnes in 2013. Year to date Chile’s output is still growing at 4.5% however.

The latest report by The International Copper Study Group forecast after five straight years of deficits, the copper market should swing into a production surplus in 2015 of an estimated 390,000 tonnes.

ICSG forecasts world refined copper production is likely to increase by about 5% year-on-year to 22.1 million tonnes in 2014 and by a further 4% to 23.1 million tonnes in 2015 as a result of new electrolytic plants coming on stream in China.

A new report by GFMS predicts over the next six months, more than a million tonnes of new copper capacity, or around 6% of global mine production, will come on stream.

On the demand side predicts a global slowdown in the second half of this year to a still relatively robust 3.9% growth, but with “risks skewed to the downside,” says GFMS.

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