LUSAKA, Dec 20 (Reuters) - Konkola Copper Mines (KCM), owned by Vedanta Resources < VED.L>, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, the state-owned company said in a statement.The claim relates to outstanding payments under a 2013 copper price participation settlement agreement entered into between Zambia Cons...Read More
The copper price hit an 18-month high on an intraday basis at the end of November, buoyed by a rebound in top consumer China and a hopes of stronger economic growth in the US.But the metal has been mostly in retreat this month as doubts creep in about the impact of president elect Trump's fiscal stimulus plans and a stronger dollar prompts profit-taking.On Monday copper for delivery in March, t...Read More
Canadian junior Wealth Minerals (TSX-V:WML) said Monday it has signed a letter of intent to acquire one of Chile's attractive lithium projects located in the country's north, known for its vast salt flats under which experts say there is enough of the commodity to supply the world for decades.The project, known as Laguna Verde, comprises 23 concessions for a total of 2,438 hectares, with total inf...Read More
Brazil's Vale (NYSE:VALE), the world's largest iron ore and nickel miner, said Monday it will sell most of its fertilizer business to US-based Mosaic Co. (NYSE:MOS), the No.1 producer of phosphate fertilizer, in a deal worth about $2.5 billion.The transaction, part of Vale's strategy to cut debt and focus on its core businesses, excludes the nitrogen and phosphate assets in Cubat??o, Brazil, which...Read More
Investing.com - Gold prices edged up during European hours on Monday, extending its recovery from ten-month lows as the U.S. dollar pulled back from recent highs.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $4.55, or 0.4%, to $1,141.95 a troy ounce by 2:55AM ET (07:55GMT), after rising $7.60, or 0.67%, in the prior session.Prices of the yellow meta...Read More
(Adds futures, company news item)Dec 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,022 on Monday, according to financial bookmakers, with futures FFIc1 up about 0.5 percent ahead of the cash market open.* The UK blue chip index closed 0.2 percent higher on Friday at 7,011.64, building on a seven-week high hit the previous day and buoyed by a rally among oil stocks...Read More
Dec 19 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,022 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.2 percent higher on Friday at 7,011.64, building on a seven-week high hit the previous day and buoyed by a rally among oil stocks, though IT firm Micro Focus MCRO.L dropped after a rating downgrade. IAG: Talks aimed at averting a p...Read More
Investing.com - Gold prices bounced off the previous session's 10-month lows on Friday, but the precious metal still posted its sixth straight weekly decline as expectations for higher U.S. interest rates in the months ahead continued to weigh.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $7.60, or 0.67%, to end the week at $1,137.40 a troy ounce. A...Read More
A promise by the Taliban to safeguard the world's second largest untapped copper deposit is being downplayed by the sitting government of Afghanistan.In a statement on November 29, the shadowy group known for harbouring Osama bin Laden following the 2001 terrorist attacks on the United States, said that the Mes Aynak copper deposit is among those that it would allow for development."The Taliban...Read More
The state of Montana has once again sent Canada's Tintina Resources (CVE:TAU) back to the drawing board, saying the company's permit application for a proposed copper mine needed improvement.The department's most recent deficiency letter includes numerous comments, largely related to parts of the application that were missing or incomplete.The Montana Department of Environmental Quality (DEQ) issu...Read More
* Dollar trades near 14-year high* European shares set 11-month high* Two-year German bond yields reach record lowsBy Atul PrakashLONDON, Dec 16 (Reuters) - European stocks climbed to an 11-month high on merger and acquisition speculation on Friday, while the dollar's rally paused as investors adjusted their portfolios to cope with any faster-than-expected increases in U.S. interest rate.World sto...Read More
* Dollar trades near 14-year high* European shares steady near 11-month high* two-year German bond yields hit record lowsBy Atul PrakashLONDON, Dec 16 (Reuters) - The dollar's post-Federal Reserve rally steadied on Friday and European shares traded near 11-month highs as investors adjusted their portfolios before year-end to face the prospect of a faster-than-expected pace of U.S. rate hikes next...Read More
Investing.com - Gold prices bounced off the previous session's ten-month lows on Friday, but gains were expected to remain limited as the Federal Reserve's decision to raise interest rates this week continued to lend broad support to the U.S. dollar.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were up 0.56% at $1,136.15, off Thursday's 10-month trou...Read More
(Adds futures, company news)Dec 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 6 points on Friday, according to financial bookmakers, with futures FFIc1 down 0.11 percent ahead of the cash market open.* The UK blue chip index closed up 0.7 percent on Thursday at 6999.01, helped by stronger banking stocks and Centrica CNA.L , although mining companies fell after the U.S. Federal...Read More
Dec 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 6 points on Friday, according to financial bookmakers.* The UK blue chip index closed up 0.7 percent on Thursday at 6999.01, helped by stronger banking stocks and Centrica CNA.L , although mining companies fell after the U.S. Federal Reserve raised interest rates. ANGLO AMERICAN/DE BEERS: Anglo American Plc's AAL.L De Beers s...Read More
A confrontation between local indigenous peoples and police at a mine in Ecuador has forced a state of emergency.According to media reports, members of the Shuar people attacked the Exploracobres copper mine, killing at least one policeman and wounding several others.About 60 were believed to be involved in the attack; they accuse the mine and its Chinese owner of encroaching on their territory....Read More
US Federal regulators took back Thursday Twin Metals' federal minerals leases for copper and nickel mining in northern Minnesota, saying production there poses a risk to wilderness in the region.According to the Department of Interior and the Department of Agriculture, the vast underground mine proposed along the Kawishiwi River is simply too close to the Boundary Waters Canoe Area Wilderness (B...Read More
Tashkent, March 2017Please provide early indication of interest by December 15, 2016CAMESE and the Canadian Embassy to Russia are seeking your interest in participating in a mining trade mission to Tashkent, Uzbekistan on the margins of "Uz-MiningExpo-2017" trade show from March 15 to 17, 2017. The mission program is developed with the participation of the Canada Eurasia Russia Business Associatio...Read More
Zinc producer Nyrstar (EBR:NYR) is moving ahead with its plans to move away from mining by offloading a multimetallic mine in Peru and various claims in Quebec to subsidiaries of Glencore (LON:GLEN).The transactions, worth $26 million, are part of the mining assets sale process formally launched in January this year, which includes the completed sale of the El Toqui mine in Chile and the announced...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 Long Term Outlook report provides a detailed breakdown of g...Read More