Washington, DC – The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Arab Global Commodities DMCC (AGC), a proprietary trading firm headquartered in Dubai, with several trading offices in India, for engaging in the disruptive trading practice of “spoofing” in the copper futures contract traded on the Commodity Exchange, Inc. (COMEX) between March and August 2016.

The CFTC Order finds that AGC engaged in this activity through one of its employees (Trader A), who generally spoofed after business hours, when Trader A traded from home. The Order requires AGC to pay a $300,000 civil monetary penalty and to cease and desist from violating the Commodity Exchange Act’s prohibition against spoofing.

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BHP announced approval of capital expenditure of US$2.46 billion for the Spence Growth Option (SGO) at the Spence open-cut copper mine in northern Chile, which will extend the mine life by more than 50 years.

BHP Chief Executive Officer Andrew Mackenzie said the SGO project supports BHP’s strategy to deliver near-term, valuable copper production.

In the first 10 years of operation, incremental production from SGO will be approximately 185 ktpa of payable copper in concentrate and 4 ktpa of payable molybdenum, with first production expected in the 2021 financial year. The current copper cathode stream will continue until the 2025 financial year. The project will convert 1.3 Bt1 of Measured and Indicated Mineral Resources to hypogene sulphide Ore Reserves.

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The SEC Division of Economic and Risk Analysis (DERA) today published a report describing trends in primary securities issuance and secondary market liquidity, and assessing how those trends relate to post-crisis regulatory reforms. The report was requested by Congress as part of the FY2016 appropriations process.

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ELY, Nev.--The Bureau of Land Management (BLM) is accepting sealed, written bids for the commercial harvesting of pine nut units in the BLM Battle Mountain, Elko and Ely districts. The deadline to submit a bid is 9:30 a.m. PDT, Tuesday, Aug. 8. Public lands provide valuable, tangible goods, and materials we rely on and use every day to heat our homes, build our roads, and feed our families.

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WASHINGTON – In keeping with the Administration’s goal of strengthening America’s energy independence, the Bureau of Land Management Eastern States (BLM-ES) will hold its quarterly online oil and gas lease sale September 21, 2017. The sale will include six parcels totaling 191.71 acres in the Marietta Unit of the Wayne National Forest, Ohio (3 parcels) and in the State of Louisiana in Catahoula and Bienville Parish (3 parcels).

The online auction will begin at 8 a.m. Eastern Standard Time on http://www.EnergyNet.com.   more...
Request for Information (RFI) Begins Multi-Year Evaluation Process to Engage Public, States, & Tribes

WASHINGTON – At an Energy Week event hosted by Energy Secretary Rick Perry, President Donald J. Trump announced that Secretary of the Interior Ryan Zinke has taken action to open up the public comment period for a new 5-year National Offshore Oil and Gas Leasing Program on the Outer Continental Shelf (OCS). President Trump announced on stage that the comment period is the first step in executing the new 5-year plan which was put in action by the April 28 executive order on American Energy. The 2017-2022 Five Year Program, which is set to begin this summer, will continue to be executed until the new National OCS Program is complete.

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