SHANGHAI, Feb 5 (SMM) –Copper: Better-than-expected nonfarm payrolls in the US boosted the dollar but we expect the greenback to be weaker in the longer term, which is bullish for copper prices. While weaker physical consumption in the near term could drag down copper prices, a major Chinese fund has long positions further down the curve. We see SHFE copper firmly supported at the 52,500-53,...Read More
Toronto-based mineral company Cordoba Minerals Corp., which trades on the OTCQX market under the symbol "CDBMF," topped the ranking with a total return of 266% for the year. Other Canadian mining companies that made the ranking this year include: Endeavour Mining Corp. (OTCQX: EDVMF), Fotescue Metals Group Ltd. (OTCQX: FSUGY) and Continental Gold Inc. (OTCQX: CGOOF).The OTCQX Best 50 is an annual...Read More
Negotiations between BHP Billiton (ASX:BHP) and unionized Chilean workers at its Escondida mine, the world's biggest copper operation, are set to resume as soon as Monday, as the company has requested government mediation to avoid a looming strike.About 2,500 workers at the mine this week rejected the last company wage offer and opted instead to down their tools. However, a union representative t...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were suffering Friday from reports that the company may cut its operations in Indonesia as the government hasn't granted it a promised temporary permit that would allow it to resume exports of concentrate from its Grasberg mine.The stock was down 2.8% to $16.34 in New York at 10:36AM local time, though year-to-date...Read More
The US Securities and Exchange Commission (SEC) may soon change its "conflict minerals" rule, which requires companies to trace and report whether their products contain minerals from a war-torn part of Africa.The regulation, issued in 2012 under the Dodd-Frank financial overhaul law, has mainly targeted the Democratic Republic of Congo, where several armed groups are said to still have mineral-ri...Read More
* Dollar up slightly, poised for fourth week of losses* U.S. payrolls ahead of estimates, hourly earnings fall* No "Trump fatigue" in investment flows: BAML* China unexpectedly tightens policy* Broadly healthier corporate earnings help stocksBy Vikram SubhedarLONDON, Feb 3 (Reuters) - The dollar headed for its fourth straight weekly loss as stocks rose after better-than-expected U.S. payrolls data...Read More
* Dollar up slightly, poised for 4th week of losses* U.S. payrolls eyed for clues on Fed's next move on rates* No "Trump fatigue" in investment flows: BAML* China unexpectedly tightens policy* Broadly healthier corporate earnings help stocksBy Vikram SubhedarLONDON, Feb 3 (Reuters) - The dollar recovered from 12-week lows but was poised for a fourth straight weekly loss in cautious trading on Frid...Read More
By Vikram SubhedarLONDON, Feb 3 (Reuters) - The dollar recovered from 12-week lows but was poised for a fourth straight weekly loss in cautious trading on Friday ahead of U.S. payrolls data while a set of healthy corporate results underpinned gains across European equity markets.Earlier in the day, an unexpected tightening of policy by China's central bank put Asian markets, already on the back fo...Read More
Investing.com - Gold prices moved lower on Friday, as the U.S. dollar recovered from the previous session's shar losses, but the precious metal remained within close distance of a two-and-a-half month peak amid ongoing U.S. political uncertainty and ahead of a key U.S. jobs report.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.30% at $1,215.7...Read More
* Dollar rebounds after hitting mid-November low* U.S. stocks little changed after Trump trade comments* BOE keeps rates unchanged; sterling drops* European shares drop as Deutsche Bank disappoints (Updates to U.S. market close, adds quotes, data)By Dion RabouinNEW YORK, Feb 2 (Reuters) - The dollar rebounded from its weakest level against six major rivals since mid-November on Thursday, while w...Read More
* Dollar rebounds after hitting mid-November low* U.S. stocks dip after Trump trade comments* BOE keeps rates unchanged; sterling drops* European shares drop as Deutsche Bank disappoints (Updates to European market close)By Dion RabouinNEW YORK, Feb 2 (Reuters) - The dollar was flat on Thursday after hitting its lowest level since mid-November, while world equity markets were mixed as investor c...Read More
The Philippine government, which has long had an uneasy relationship with the mining industry - and one former Vancouver miner in particular - has shut down nearly two dozen operating mines.One of the companies caught in the crackdown is the Australian-Canadian company OceanaGold Corp. (TSX:OGC), which is headquartered in Australia but has a corporate office in Vancouver. The company's Didipio is...Read More
Ivanplats, a subsidiary of Ivanhoe Mines (TSX:IVN), will be allowed to relocate some graves present at its Platreef platinum group metals site, near Mokopane, after a South African judge revoked Thursday an interim interdict that prevented the company from doing so.Ivanhoe's local unit had challenged the temporary ruling, issued in November last year, on the basis that the hearing was conducted w...Read More
* Dollar hits lowest since mid-November* U.S. stocks dip on uncertain outlook from Fed* BOE keeps rates unchanged, sinking sterling* European shares drop as Deutsche Bank disappoints (Updates to U.S. market open, adds data, quotes, changes dateline, previous LONDON)By Dion RabouinNEW YORK, Feb 2 (Reuters) - The dollar fell on Thursday to its lowest since mid-November and world equity markets wer...Read More
* Dollar hits 12-week low after Fed statement lacks clarity* European stocks mixed, Wall Street seen opening lower* Bond yields fall, German-French spread in focus* Pound dips after Bank of England says rates could rise or fallBy Marc JonesLONDON, Feb 2 (Reuters) - The dollar slipped to a 12-week low on Thursday and European stocks traded cautiously after the U.S. Federal Reserve stuck to its mild...Read More
Investing.com - Gold prices gained in European morning trade on Thursday, rising toward the highest level in about 11 weeks as the U.S. dollar slumped after the Federal Reserve gave no firm signal on the timing of its next rate hike.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to a session peak of $1,219.20 a troy ounce, the most since November 17.It was l...Read More
SHANGHAI, Feb 2 (SMM) – SHFE nickel led the gains of base metals today with an over 2% rise while SHFE lead was up close to 1%. Copper increased by 0.72% and zinc was up 0.45%. Tin, however, edged down 0.6%.The ferrous complex saw coking coal jump almost 3% whereas coke was up close to 2%. Hot-rolled coil rose 1.6%, iron ore went up 1% and rebar edged up 0.51%.Copper: The SHFE 1803 copper co...Read More
SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
Rainbow Field, Director of International Legal Services, at Bowmans in Kenya. Kenya's new Mining Act is the first major revision in mining law in the country since the 1940s. The new Act is largely considered to be a modern piece of legislation that is clear in terms of timelines and structures, but that still has a few challenges that need to be addressed.The Act requires the establishment of...Read More