Mining

ADELAIDE, Australia—Copper miner Oz Minerals Ltd. OZL 35.25% rejected a takeover approach by BHP Group Ltd. BHP 2.39% , which is seeking to boost its output of a metal needed for electric vehicles, wind turbines and solar farms.Adelaide-based Oz Minerals said Monday it had received a proposal on Friday from BHP to buy the company for 25 Australian dollars a share. That price, equivalent to about $17 a share, values the…

Commodities giant Glencore GLNCY 0.12% PLC said profit more than doubled in the first six months of the year, boosted by significant market volatility stirred up by macroeconomic and geopolitical events—a theme it expects to continue for markets through the rest of 2022. The mining and trading company on Thursday reported a jump in first half adjusted earnings before interest, taxes, depreciation and amortization—a closely watched…

It was 8:45 in the morning of June 13 when Bill Stewart, the CEO of Maine-based bitcoin mining business Dynamics Mining, received a call from one of his employees. “He's like, ‘Every machine inside of our facility in Brunswick has been taken,’” Stewart says. “That's crazy. I couldn't believe it.” He alerted personnel manning another mining facility, in nearby Lewiston , and told them to “be on their toes.” He thought a burglar was at large. Stewart had a theory on who might have taken the machines: In those days he had…

Experts in Chile on Tuesday were investigating the appearance of an enormous sinkhole, bigger than a tennis court, that has appeared near a copper mine in the Atacama desert.Experts were dispatched to examine the hole, some 32 meters (104 feet) across and twice as deep, which appeared in an area about 800 kilometers (nearly 500 miles) north of Santiago over the weekend, the National Geology and Mining Service (Sernageomin) said in a statement.  A 100-meter security perimeter has been erected around the hole in the Tierra…

Caterpillar Inc. CAT -5.82% said that higher prices on its equipment offset weakening demand from some foreign markets and rising expenses for materials and transportation. The company reported a 20% increase in quarterly equipment sales growth in North America—its largest market—that helped to counter lower sales in Europe and falling demand for construction machinery in Asia. The company said Tuesday it expects sales in…

Uber UBER 18.90% Technologies Inc. doubled quarterly revenue, improved its financial performance and said high inflation was causing more people to drive for the platform to help offset rising household costs. The ride-hailing company said Tuesday that revenue grew 105% to $8.07 billion for the three months through June. The company also posted adjusted earnings—a figure that excludes some expenses—of $364 million, its strongest ever. Both figures beat Wall Street…

Aeva Technologies on Monday said it has reached a deal with a German firm to sell its sensors for industrial uses such as automating manufacturing lines with machines and self-driving mining trucks.Silicon Valley-based Aeva makes lidar sensors, which can help self-driving cars and other devices gain a three-dimensional view of their surrounding world. Aeva's take on the technology can also detect how fast objects are moving, helping it distinguish stationary objects from pedestrians and other cars.While Aeva is targeting…

The entire world talks about the best cloud mining platforms since the Blockchain and cryptocurrency technologies hit the record. Many people dream of stable passive income in Bitcoin and other digital assets, and that’s why hash providers offer a wide variety of contracts. In our review, we take a look at the top cryptocurrency platforms that can be the best for beginner and professional cryptocurrency investors in 2022. What is Cloud Mining? In a few words, crypto cloud mining is a super simple…

Miners in Angola have uncovered a massive pink diamond that may be the biggest gem of its kind found in the past 300 years.The pink diamond is estimated to weigh 170 carats, making it just a smidge smaller than the 182-carat Daria-i-Noor diamond – the largest pink diamond in the world, which today is part of the Iranian National Jewels.  The new diamond has been nicknamed the "Lulo Rose," after the Lulo mine in northeastern Angola where it was found, according to a statement from the Lucapa Diamond Company, which owns…

ADELAIDE, Australia—Some of the world’s largest iron-ore miners said they expect the market to continue dictating prices of the commodity despite China setting up a centralized buying group to try to gain more sway.China Mineral Resources Group was established by Beijing this month as part of a drive to secure more control over resources needed for the country’s growth at a time of rising tensions with the West. More than half of China’s iron-ore imports arrive from Australia, which has faced a trade backlash from Beijing…