Australian explorer, Emu NL (ASX: EMU), has mobilised camp, earth moving and drilling equipment to the Vidalita site in northern Chile. The camp will be located ~25km from the drill site at an altitude of ~ 4,300m and cater for up to 20 personnel. Earth moving equipment has been engaged to repair the tracks into the site and to assist with setting up the camp and drill sites.Drilling is scheduled...Read More
Talks between Freeport-McMoRan (NYSE:FCX) and striking workers at its Cerro Verde copper mine in Peru broke down Thursday with miners announcing their plan to start an indefinite stoppage beginning March 24.Around 1,300 unionized miners downed tools on March 10, demanding better working conditions as well as a larger share of profits.Around 1,300 unionized miners will start an indefinite stoppage...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, is bringing in former US attorney general William P. Barr to help it sort out tax issues surrounding its Swiss subsidiary, which sparked a federal raid on its Peoria headquarters earlier this month.Barr, who served as US Attorney General under President George Bush from 1991 to 1993, will help the company review and address issues rel...Read More
Canada's British Columbia, the country's most western province, is famous for its natural beauty, but it can not longer brag about how attractive it is to mining investors as perception grows that it may no longer a be welcoming place for mineral exploration.Recent reports offer the mining and exploration sectors some optimism that a four-year-long bear market has ended, although projections ar...Read More
Investing.com - Gold prices edged lower on Friday, but still remained close to two-week highs thanks to a weaker U.S. dollar and the Federal Reserve's dovish stance at its latest policy meeting.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.09% at $1,226.05, just off the previous session's two-week high of $1.231,40.The April contract ended T...Read More
(Adds company news items, futures)March 17 (Reuters) - Britain's FTSE 100 futures FFIc1 were down 0.1 percent ahead of the cash market open on Friday.* The UK blue chip FTSE 100 .FTSE index closed 0.6 percent higher at 7,415.95 points on Thursday, helped by a surge in commodities-related stocks, but pared some gains after a Bank of England policymaker voted for a rate hike. BERKELEY: London-focuss...Read More
March 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 1 point at 7,416 on Friday, according to financial bookmakers.* BP: BP Plc BP.L on Friday said it had sold around half its roughly 20-percent stake in New Zealand Refining Company Limited NZR.NZ for NZ$80.4 million ($56.2 million) as part of a global portfolio review. BHP BILLITON: The striking union at BHP Billiton's BLT.L E...Read More
Former open-pit mine has $1 billion worth of existing mine infrastructure, including processing plantAn exhausted copper-gold mine 250 kilometres north of Smithers will be given a second life when the owners of the Kemess open-pit mine go underground, using a novel block cave mining approach.AuRico Metals (TSX:AMI) received an environmental certificate March 15 for its $684 million Kemess projec...Read More
Canada's Barrick Gold (TSX, NYSE: ABX), the world's No.1 producer of the precious metal, is said to be mulling either the sale of a stake in its Lagunas Norte mine in Peru or the addition of a partner in the venture.People familiar with the matter told Reuters that the Toronto-based miner would prefer to keep at least a 50% ownership of the mine, located in north-central Peru, 140 km east of the c...Read More
Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page.Every four years, the American Society of Civil Engineers (ASCE) releases its report card on the condition of America's infrast...Read More
Indian billionaire Anil Agarwal is trying to buy a stake of as much as 2 billion pounds ($2.4 billion in Anglo American (LON:AAL), representing about 12% of the firm, one of the main rivals to the tycoon's Vedanta Resources (LON:VED).Deal makes of Volcan Investments Ltd., Agarwal's family trust, the second-largest investor in Anglo American.The deal would make of Volcan Investments Ltd., Agarwal's...Read More
March 16 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday as commodities gained on the dollar's drop in the wake of the U.S. Federal Reserve's dovish tone for rate hikes this year.The Fed on Wednesday raised interest rates, as expected, but signaled only a gradual rate tightening. That sent the dollar to a one-month low, and gold and copper to one-wee...Read More
Investing.com - Gold prices rallied to a more than one-week high during European morning hours on Thursday, after the Federal Reserve sounded more dovish than anticipated on future rate hikes.Comex gold futures jumped to a session peak of $1,228.65 a troy ounce, the highest since March 6. It was last at $1,225.55 by 4:10AM ET (08:10GMT), up $24.85, or around 2.1%.Meanwhile, spot gold was up $6.30...Read More
* Agarwal acting for family trust, not Vedanta- statement* Anglo American declines comment* Vedanta seen too small to take over Anglo in near term (Adds detail of previous interest in Anglo, share price, comment)By Barbara Lewis and Zandi ShabalalaLONDON, March 16 (Reuters) - Indian billionaire Anil Agarwal said he was buying a 2 billion pound ($2.45 billion) stake in Anglo American AAL.L , send...Read More
(Corrects currency to pounds not dollars in headline, paragraph 1)LONDON, March 15 (Reuters) - Indian billionaire Anil Agarwal said on Wednesday he would buy a stake of up to 2 billion pounds ($2.5 billion) in Anglo American AAL.L but had no intention of trying to take control of the global miner.Agarwal, who has majority control of Hindustan Zinc Ltd HZNC.NS through Vedanta Ltd VDAN.NS VED.L...Read More
SHANGHAI, Mar 16 (SMM) ? 1/4 ? To promote new energy cars, Xining city of Qinghai province will build 1,000 more charging stations for new energy cars in 2018, and to gradually replace all petrol- and diesel-powered taxis with electric ones, SMM learned from local authorities.The charging stations were introduced to Xining in 2016. At the end of 2017, there were 1,034 charging stations across 16 p...Read More
SHANGHAI, Mar 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar returned to stand above 90, following remarks from President Donald Trump's newly-appointed top economic advisor Larry Kudlow.Most nonferrous metals weakened. SHFE nickel and copper dropped about 1%. SHFE tin edged down slightly, while aluminium, zinc and...Read More
SHANGHAI, Mar 16 (SMM) –Copper: LME copper dipped under pressure from the strong dollar, but the pressure is expected to ease as the Federal Reserve's interest rates hike in March will weaken the upward momentum of US dollar. We see copper prices remaining rangebound in the short term while rising in the long term in anticipation of the destocking period. We expect LME copper to trade at...Read More
Despite the prolonged low-price oil market over the past year, North American refiners have largely remained in good financial health - but changes in the supply and demand landscape are creating uncertainties. OPEC production cuts, the lifted ban for US exports, and decarbonisation legislation are triggering push-me-pull-you scenarios making it more difficult to see how refiners' bottom lines wil...Read More