UPDATE 1-Vale overcomes iron ore slump to return to profit in Q2 RIO DE JANEIRO, July 30- Vale SA, the world's biggest iron ore producer, returned to profit in the second quarter, bolstered by higher output and cost cutting and keeping up pressure on Australian rivals in the fight for market share. A big part of the improved result was a reduction in cash costs, with Vale lowering its cost of producing a tonne of iron ore to $15.8 per...
| By: Stephen Eisenhammer
PREVIEW-Brazil's Vale back to profit after three losses in a row RIO DE JANEIRO, July 29- Brazilian miner Vale SA will likely announce its first profit in a year when it publishes second-quarter results on Thursday, bolstered by a recovery in iron ore prices during the period, a survey of analysts showed. The price of iron ore has halved over the past 12 months, touching its lowest level in over a decade, as supply from new mines...
| By: Marta Nogueira and Stephen Eisenhammer
Speculators show global commodities rout still has legs LONDON, July 27- Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south. Losses are not new, with oil and gold having peaked in July 2008 and September 2011 respectively, while iron ore has been on...
| By: Veronica Brown and Pratima Desai
A global phenomenon of funding: Indiegogo CEO Is crowdfunding the new startup incubator? Slava Rubin, Indiegogo CEO, discusses the trend of venture capital funding through sites like Indiegogo. Indiegogo is like the new YouTube for artists but instead for entrepreneurs, says Rubin.
COLUMN-Chinese steel juggernaut slows but not fast enough: Andy Home LONDON, July 27- Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. The first-half drop in China's steel production may look marginal, equivalent as it was to just 5 million tonnes less output than in the first half of last year.
| By: Andy Home
SI Financial posts 2Q profit WILLIMANTIC, Conn. _ SI Financial Group Inc. on Wednesday reported second-quarter profit of $1 million. SI Financial shares have risen 5 percent since the beginning of the year. Keywords: SI Financial, Earnings Report.
Source: The Associated Press
COLUMN-Gold mining cost-cutting shows price can fall further: Russell --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, July 21- What does gold have in common with iron ore and coal? The broad picture for gold is that since the spot price reached its peak of $1,920.30 an ounce in September 2011, demand has dropped as supply has risen.
UPDATE 2-Miner Anglo warns of up to $4 bln writedown on iron ore and coal assets *Sees non-cash items for Minas Rio and some Australia coal assets. LONDON, July 16- Mining group Anglo American has warned of a second multi-billion dollar writedown this year on its coal and iron ore assets, demonstrating the growing impact of sliding commodity prices. The charge of between $3 billion and $4 billion flagged on Thursday, to be taken in its...
| By: Eric Onstad and Clara Denina