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
Canada's Turquoise Hill Resources (TSX, NYSE:TRQ), which is 51% owned by Rio Tinto and holds two-thirds of the massive Oyu Tolgoi copper-gold mine in Mongolia, said Wednesday it had resumed concentrate shipments from the operation to China.The Vancouver-based miner said that after two weeks of talks with Mongolian and Chinese authorities, Oyu Tolgoi has been allowed to restart shipping ore across...Read More
New Zealand's seafloor organisms are not protected enough from potential deep-sea mining activities, a study by a researcher working with the country's National Institute of Water and Atmospheric Research shows.Rachel Boschen, who graduates with a PhD in Marine Biology from the Victoria University of Wellington on Wednesday, says that while there is increasing interest in mining for Seafloor Massi...Read More
The recent and sustained rally in copper prices has prompted Canadian Capstone Mining (TSX:CS) to attempt hiring back most of the workers it had to lay off in October at its Minto mine, Yukon's only copper operation..The Vancouver-based miner is asking the territorial government to approve an amendment to its mining plan, which would allow it to start a new open pit on the property, Yukon News rep...Read More
Copper prices, which have been in steady decline since 2011, thanks to China's slowing economic growth, have been on a tear lately, lifting both the stock prices for B.C. copper mining companies and the hopes of developers with new copper projects in the pipeline.A 30% increase in copper prices between October 24 and November 28 has been dubbed the "Trump rally" on the assumption the price rise ha...Read More
Commodities prices rebound has investors rushing to get back into the mining sector.Now that commodities are climbing out of a five-year-long trough, investors that shunned the junior mining sector are looking to get back in on the game.There's just one problem: many of the small brokerage firms that specialized in the junior exploration and development sector have disappeared.A prolonged commodit...Read More
(Adds company news item, updates futures and news item)Dec 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 5 points higher, or up 0.07 percent on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* The UK blue chip index closed 0.9 percent lower on Monday at 6,890.42, with outsourcing group Capita CPI.L extending its recent lo...Read More
Dec 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 5 points higher, or up 0.07 percent on Tuesday, according to financial bookmakers.* The UK blue chip index closed 0.9 percent lower on Monday at 6,890.42, with outsourcing group Capita CPI.L extending its recent losses and precious metals miners tracking a fall in gold prices to 10-month lows. GLENCORE: Glencore Plc GLEN.L and Nip...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
(Adds futures, company news items)Dec 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 18 points at 6,972 on Monday, according to financial bookmakers, with futures FFIc1 up 0.04 percent ahead of the cash market open.* The UK blue chip index closed 0.3 percent higher on Friday at 6,954.21, recording its biggest weekly rise in five months, as it received a boost when Sky SKYB.L shar...Read More
Dec 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 18 points at 6,972 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.3 percent higher on Friday at 6,954.21, recording its biggest weekly rise in five months, as it received a boost when Sky SKYB.L shares surged by more than 25 percent on a takeover approach from Twenty-First Century Fox FOXA.O . SKY:...Read More
Investing.com - Gold prices touched fresh 10-month lows on Friday and the precious metal posted its fifth straight weekly decline as expectations for higher U.S. interest rates continued to weigh.Gold for February delivery settled down 0.94% at $1,161.4 on the Comex division of the New York Mercantile Exchange. It was the metals lowest close since February 5. For the week, gold was down 1.34%.The...Read More
Mining giant Rio Tinto (LON, ASX:RIO) has once again reshuffled its top management team, replacing a senior executive and adding a new member as the company deals with a probe into a questionable payment made to an external consultant over the Simandou iron ore project in Guinea.Chief executive officer Jean-S?(C)bastien Jacques, who took the helm less than six months ago, has appointed Vera Kirik...Read More
The copper price hit an 18-month high on an intraday basis last week as global manufacturing activity continues to pick up and hopes about US president-elect Trump's $500 billion infrastructure plans lift sentiment.While it's pulled back from those levels since, official customs data from China, responsible for some 45% of global consumption of the red metal, released on Thursday is seeing the...Read More
The Peruvian government has asked MMG to resubmit an environmental plan for its Las Bambas copper mine, in order to include more feedback from local communities.The country's vice president, Martin Vizcarra, noted the mine will be allowed to operate as usual while it prepares an "integral" environmental impact study, local paper La Rep??blica reports (in Spanish).Move is part of the new governm...Read More
Anglo American (LON:AAL) is facing increasing pressure to make a decision on its plans to sell or spin-off its iron ore, coal and manganese operations in South Africa next year.The world's number five diversified miner has already held talks with its biggest investor, the country's state-owned Public Investment Corp. (PIC), which was pressing Anglo to include its prized platinum assets in any plan...Read More
Many people seem to think Trump is going to "fix" the US by invoking the isolationist, nationalist, and oft failed economic policy of protectionism. But, as Ludwig von Mises put it in Nation, State and Economy, "From the purely economic point of view nothing speaks against free trade and everything against protectionism." In other words, there is no economic argument in favor of protectionism. It...Read More
* World share markets climb for 4th day, Wall Street at record* ECB spooks bonds, euro jumps with plans to slow stimulus* China trade beats forecasts, commodity imports jump* Oil prices steady after slip, steel surge lifts iron ore* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 8 (Reuters) - A signal from the European Central Bank that it would slow its stimulus...Read More
* World share markets climb for 4th day, Wall Street at record* ECB to detail plans to extend stimulus* China trade beats forecasts, commodity imports jump* Euro unfazed as Moody's turns negative on Italy rating* Oil prices steady after slip, steel surge lifts iron ore* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 8 (Reuters) - World shares climbed to a three-mo...Read More