Vedanta Resources' (LON:VED) chief executive Tom Albanese is leaving the Indian mining conglomerate in August and return to the US in a personal move aimed at spending more time with his family.Albanese's departure comes on the heels of former Anglo American CEO Cynthia Carroll's exit, who left Vedanta last month.The company's executive chairman, Indian billionaire Anil Agarwal, would be leading...Read More
(Repeats with no changes to text. The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellSINGAPORE, March 31 (Reuters) - The rally in commodity prices last year is starting to filter through to higher spending by miners, but the nature of how they are loosening the purse strings betrays the view that companies are still cautious about the outlook.Mining servi...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellSINGAPORE, March 31 (Reuters) - The rally in commodity prices last year is starting to filter through to higher spending by miners, but the nature of how they are loosening the purse strings betrays the view that companies are still cautious about the outlook.Mining service providers are generally one of...Read More
Mar 31 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of March 30, 2017. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) ------------------------------ --------- SHORT TERM RATINGS: ------------------- Adcc Infocad LtdST Bk FacCARE A3600Revised fromCARE A3+ (enhanced from Rs.55.00crs) Balaji Multiflex Pvt LtdST Bk FacCARE A1+17Rea...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
Argentina's San Juan province has ordered Barrick Gold (TSX, NYSE:ABX) to halt operations at its Veladero mine following the decoupling of a pipeline carrying gold and silver solution on the leach pad Tuesday night.In a brief statement issued Thursday evening, Barrick said authorities had restricted the addition of cyanide to the Veladero mine's heap leach facility pending the verification that re...Read More
Chile's Escondida copper mine, the world's largest, has named Brazilian Mauro Neves as its new president, following a historically long 43-day strike at the operation that ended last week with the parts failing to reach a wage deal.Escondida - responsible for about 5% of the world's total copper output - failed to produced more than 120,000 tonnes of the red metal due to the historically long 43...Read More
Lawmakers in El Salvador, Central America's smallest nation, have passed a law that bans all mining for gold and other metals, making the country the world's first to impose such a broad prohibition on the extraction of minerals, environmentalists and human rights groups said.The ruling, aimed at protecting the nation's allegedly quite fragile environment, comes after a long-dragged dispute over...Read More
Investing.com - Gold prices edged lower for a third straight session on Thursday, adding to their decline from a one-month high reached at the start of the week as the dollar strengthened amid expectations for more U.S. interest rate hikes this year.Comex gold futures dipped $3.20, or around 0.3%, to $1,250.50 a troy ounce by 3:00AM ET (07:00GMT). Meanwhile, spot gold was down $2.50 at $1,251.10.G...Read More
Description This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved. For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making. Our analysts are based in the markets they analyse and work with...Read More
1.) Long-term readers of Palisade Research know this chart well. We are now 297 trading days into a bull market on the TSX Venture Exchange, as depicted by our 1990 to Present - Bull & Bear Markets Chart. During that time, the TSX Venture has had some sell-offs, but history says this is inevitable. In fact, we are currently mired in a several month long pull-back. So what comes next? We took a loo...Read More
A fresh incident has been registered at Barrick Gold's (TSX, NYSE:ABX) Veladero mine in the San Juan province of Argentina in what is the third issue affecting the operation in less than 18 months.According to Osvaldo Lima, the provincial government spokesman, a pipe carrying a "rich mixture" of gold and rocks came lose on Tuesday night, local paper La Nacion reports (in Spanish), without offerin...Read More
An undeniable and ongoing rebound in commodity prices could take global mining spending in exploration up to as much as $21 billion by 2025, a level of funding last seen in 2012 according to S&P Global Market Intelligence, but which is necessary to sustain the industry's growth.While prognosticating that far into the future can inevitably lead to inaccuracies, Stan Wholley, President for the Ameri...Read More
* Formal Brexit process begins* Sterling under pressure* Stocks regain footingBy Jamie McGeeverLONDON, March 29 (Reuters) - European shares rose on Wednesday, following Wall Street's late surge, while sterling was the biggest loser on major currency markets ahead of the formal triggering of Britain's exit process from the European Union later in the day.Prime Minister Theresa May will notify EU Co...Read More
LONDON, March 29 (Reuters) - European shares edged higher on Wednesday as Britain was set to formally trigger divorce proceedings with the European Union it joined in 1973.The pan-European STOXX 600 index .STOXX was 0.2 percent higher by 0820 GMT, with modest gains driven by broker upgrades and results.Markets were muted as investors awaited details on the two parties' negotiating positions ahead...Read More
Investing.com - Gold prices edged lower during European morning hours on Wednesday, pulling further away from its strongest level in a month as investors braced for formal Brexit procedures to be triggered by the U.K. government later in the day.British Prime Minister Theresa May is set to trigger Article 50 of the Lisbon Treaty later on Wednesday, formally beginning the two-year process of exitin...Read More
(Adds company news items, futures)March 29 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 24 points on Wednesday as Britain submits formal notice of its intention to leave the European Union, according to financial bookmakers, with futures FFIc1 up 0.4 percent ahead of the cash market open.* SAGA: British over-50s travel and insurance company Saga Plc SAGAG.L reported a 5.6 percen...Read More
March 29 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 24 points on Wednesday as Britain submits formal notice of its intention to leave the European Union, according to financial bookmakers.* TESCO: Tesco TSCO.L , Britain's biggest retailer, remains committed to its agreed 3.7 billion pound ($4.7 billion) takeover of wholesaler Booker BOK.L despite opposition from some big share...Read More
Rio Tinto (LON:RIO) may become the sole owner of Pistol Bay Mining's. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, sooner than originally planned, as it has decided to pay the junior miner $750,000 before April 17.Rio will effectively hold a 100% stake in the uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2....Read More
Canada's Barrick (TSX, NYSE:ABX) and Goldcorp (TSX:G) (NYSE:GG), the world's No.1 and No.3 producers of the precious metal by value, are teaming up to develop projects in northern Chile, particularly Cerro Casale, one of the world's largest gold-copper deposits.As part of the agreement, Barrick has sold a 25% stake in Cerro Casale to Goldcorp, which will result in a 50-50 joint venture focused on...Read More