In March Chinese leaders detailed the country's 13th five-year plan running from 2016 - 2020 which doubles-down on a long-stated commitment to "double 2010 GDP by 2020".The 2020 GDP goal would require annual growth rates of 6.5% to go from a nominal $10 trillion last year to over $12 trillion in 2020. That's the equivalent of adding an economy the size of Switzerland's every year.China's officia...Read More
* Italian shares, euro rise as Italy limps towards bank rescue* Profit-taking pulls dollar off this week's highs* Wall Street set to open down slightly* Crude oil slips, metals extend decline* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 22 (Reuters) - European markets were poised for one last burst of action before the end of the year on Thursday, with Italy ex...Read More
Investing.com - Gold prices were little changed near last week's 11-month lows on Thursday, with liquidity fading in the run-up to the Christmas weekend.Gold for February delivery on the Comex division of the New York Mercantile Exchange dipped 45 cents, or 0.04%, to $1,132.75 a troy ounce by 3:55AM ET (08:55GMT), after falling 40 cents, or 0.04%, in the prior session.Prices of the yellow metal sa...Read More
LONDON, Dec 22 (Reuters) - European shares edged lower on Thursday, dropping further from their highest levels of the year, though drugmaker Actelion ATLN.S provided support after it entered exclusive discussions with prospective bidder Johnson & Johnson (NYSE:JNJ).The STOXX 600 .STOXX was down 0.2 percent, falling for a second straight session after hitting its highest level since Jan. 4 on Tuesd...Read More
(Updates futures, adds company news item)Dec 22 (Reuters) - Britain's FTSE 100 futures FFIc1 were down 0.17 percent on Thursday ahead of the cash market open.* The UK blue chip index .FTSE ended little changed on Wednesday after hitting a two-month high, though a rise in Ashtead Group AHT.L and bottler Coca-Cola Hellenic CCH.L provided support. The FTSE 100 was flat at 7,041.42 at its close. L&G...Read More
Dec 22 (Reuters) - Britain's FTSE 100 .FTSE index could edge down 0.1-0.2 percent on Thursday, based on last prices for futures on the index.As the holidays approach, financial spreadbetters were not immediately available to provide indications of what might happen at the open.* The UK blue chip index ended little changed on Wednesday after hitting a two-month high, though a rise in Ashtead Group...Read More
Dec 22 (Reuters) - Gold edged higher in Asian trade on Thursday, after ending the prior session nearly flat, as the U.S. dollar retreated from 14-year highs touched earlier this week.FUNDAMENTALS* Spot gold XAU= was up 0.1 percent at $1,132.04 an ounce by 0049 GMT. Bullion closed nearly flat in the previous session.* U.S. gold futures GCcv1 were little changed at $1,133.60 per ounce.* The dollar i...Read More
[Editor's Note: MINING.com is a media sponsor of PDAC.]The world's leading minerals and mining event is once again returning to downtown Toronto.The Prospectors & Developers Association of Canada's (PDAC) International Convention, Trade Show & Investors Exchange-celebrating 85 years-will take place at the Metro Toronto Convention Centre (MTCC) from March 5 to 8, 2017.The 2016 Convention attracted...Read More
Eight civilians have been killed and another 35 severely injured by Congolese security forces in the country's mining hub of Lubumbashi during the past 36 hours, as part of widespread protests against President Joseph Kabila's hold on power, local groups said.King Kasongo, a lawyer and activist for Humanism and Human Rights (HDH), told Reuters Wednesday the incidents took place in Lubumbashi's Kat...Read More
When a mineral processing plant runs out of ore near by, its days are numbered. The capital equipment often becomes nothing more than a tax write-off. The businesses and people that depend on servicing the plant suffer. The continent is littered with ghost towns from booms that went bust.Up in Manitoba, Canada, near Flin Flon, a processing facility that was down to its last four years of ore could...Read More
1. Tailings rules tightenedB.C.'s Ministry of Energy and Mines marked the two-year anniversary of the Mount Polley tailings dam breach by announcing updates to the province's mining code, including new criteria for the operation of tailings ponds. In all, the government's mining code revisions addressed 20 of the 26 recommendations outlined in the reports of the independent expert panel and the ch...Read More
Dec 21 (Reuters) - Canadian stock futures were lower on Wednesday, indicating the market was set to snap a four-day winning streak.March futures on the S&P TSX index SXFc1 were down 0.06 percent at 7:15 a.m. ET.No major data is scheduled for release.Canada's main stock index rose on Tuesday, led by financial stocks and materials producers, including precious and base metal miners and fertilizer co...Read More
(Repeats item issued earlier. The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellLAUNCESTON, Australia, Dec 21 (Reuters) - It's that time of year when crystal balls get taken out and polished up, but forecasting commodity markets for 2017 is less certain than usual given the unpredictability of the three main likely drivers.After a largely stellar year in...Read More
Investing.com - Gold prices struggled near last week's 11-month lows on Wednesday, as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.Gold for February delivery on the Comex division of the New York Mercantile Exchange inched up $1.75, or 0.15%, to $1,135.35 a troy ounce by 4:10AM ET (09:10GMT), after falling $9.10, or 0.8%, in the prior sess...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellLAUNCESTON, Australia, Dec 21 (Reuters) - It's that time of year when crystal balls get taken out and polished up, but forecasting commodity markets for 2017 is less certain than usual given the unpredictability of the three main likely drivers.After a largely stellar year in 2016, the outlook for major...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
In November, Gold Reserve (OTCMKTS:GDRZF, CVE:GRZ) and Venezuela agreed to rework the terms of a $770 million settlement relating to the seizure of the company's Las Brisas gold-copper mine in 2008.Under the new deal, the initial payment by the South America nation battling a severe economic crisis, was reduced to $300m from the $600m in the agreement signed in February. At the time Gold Rese...Read More
A recently found deep-sea creature, an octopod dubbed "Casper" after the friendly cartoon ghost, could be seriously affected by seafloor mining as it lays its eggs atop areas that contain valuable metals, scientists say.According to a study published this week in Current Biology, the mollusc -so freshly discovered that experts haven't even figured out what creature it might be most closely related...Read More
Investing.com - Gold prices edged lower on Tuesday, as the U.S. dollar bounced back toward its 14-year high against a basket of major currencies with markets focused on the possibility of further U.S. interest rate hikes next year.Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $7.95, or 0.7%, to $1,134.75 a troy ounce by 3:25AM ET (08:25GMT), after rising...Read More
(Adds company news item, updates items and futures)Dec 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down about 0.2 percent on Tuesday, according to financial bookmakers, with futures FFIc1 down 0.04 percent ahead of the cash market open.* The UK blue chip index closed up 0.1 percent at 7,017.16 points after a choppy session on Monday, led higher by a rise among more defensive stoc...Read More