During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year. The president elect also has aspirations of $1 trillion in infrastructure build-out in the US over the next decade."Well targeted public spending initiatives could catalyse private economic activity and help to get the global economy ou...Read More
Anglo American (LON:AAL) has decided to keep all activity at its Los Bronces copper mine in Chile halted following a fresh attack by hooded protesters who seized installations over the weekend.The group "violently and illegally" entered the mine site early Saturday morning, the company said in a statement (in Spanish), just hours after unions representing staff of contractor firms employed at Los...Read More
Despite increased demand for nickel, low profitability owing to the combination of persistently low prices and higher costs may result in project closures over the next five years, according to research and consulting firm GlobalData.The company's latest report states that operating nickel mines scheduled for closure during the forecast period include the Savannah and Mount Keith mines in Australi...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile ahead of OPEC meeting (Updates prices)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the U.S. dollar recovered from earlier losses but was still slig...Read More
Investing.com - Gold prices rose more than 1% on Monday, rebounding from nine-and-a-half month lows as the dollar reversed some of its post U.S. election gains after surging to almost 14-year highs last week.Gold for December delivery was trading at $1,192.5 a troy ounce by 0934 GMT, after earlier rising as high as $1,197.00.The precious metal touched a low of $1,171.21 per ounce on Friday, a leve...Read More
(Adds company news item, updates futures)Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers, with futures FFIc1 down 0.25 percent ahead of the cash market open.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks wa...Read More
Nov 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 5 points at 6,836 on Monday, according to financial bookmakers.* The UK blue chip index closed 0.2 percent higher on Friday at 6,840.75, making its third straight week of gains as weakness in banking and mining stocks was offset by strength in pharma shares. BP: BP BP.L has agreed to buy 10 percent of Eni's ENI.MI Shorouk con...Read More
While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals seems only to be gaining momentum.The copper price added 7.7% last week, while nickel rose more than 6% and tin continued its good run. Both zinc and lead enjoyed double digit gains with the former reaching a near nine-y...Read More
It appears the Turkish government is attempting to suppress criticism of a mine disaster last weekend that killed 12 miners and left four still missing.The Guardian reports that Turkish authorities detained a journalist working for the BBC's Turkish-language service in southeastern Turkey. The female reporter was apparently attempting to speak with relatives of the miners who died at the mine. No...Read More
Investing.com - Gold prices closed at the lowest level in nine months on Friday as expectations for higher U.S. interest rates continued to cloud the demand outlook for the precious metal.Gold for December delivery settled down 0.53% at $1,183.00 on the Comex division of the New York Mercantile Exchange, the lowest close since February 5.Safe haven demand for gold has been hit since the U.S. presi...Read More
By Melanie BurtonMELBOURNE, Nov 25 (Reuters) - A plan by Zambia to put a duty on copper concentrates imports could put a kink in the global supply chain for the metal, industry sources said, by forcing neighbouring Democratic Republic of Congo (DRC) to send surplus mine output elsewhere.The 7.5 percent duty announced earlier this month and due to come into force at the start of 2017, is likely to...Read More
By Manolo Serapio JrMANILA, Nov 25 (Reuters) - Surging volatility in China's iron ore futures is sending global prices on a roller-coaster ride, spelling risks for traders and steel mills, some of whom are losing faith in a market swayed by speculative Chinese money.Amid wild swings in futures, spot iron ore prices .IO62-CNO=MB surged by a record 23 percent in the second week of November, only to...Read More
China's Chinalco, the country's main mining company, has inked a preliminary deal with Peru's government to expand Toromocho copper mine, the Asian nation's largest overseas copper project.The move is part of a series of agreements signed this week that will see China pouring close to $5.3 billion into Peru's mining and energy sector, Andina news agency reported.Move is part of a series of agreeme...Read More
Copper, until recently one of the worst performing commodities in the past two year, is having a great month, with prices up about 20% to more than $5,700 a tonne Thursday.The rally, which began on the heels of Donald Trump winning in the US presidential election, has been partly based on speculation regarding the impact of the President-elect's $500 billion infrastructure plans on demand for the...Read More
* Dollar index near 14-year high after upbeat U.S. data* Yen and euro pressured* Emerging market central banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low after rate rise* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The...Read More
* Dollar index near 14-year high after upbeat US data* Yen, euro, emerging market cen banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The dollar surged to a near 14-year hig...Read More
Investing.com - Gold prices eased on Thursday after falling to their lowest levels since February as the dollar paused after surging to fresh 14-year peaks.Gold for December delivery was trading at $1,187.55 a troy ounce by 0946 GMT, after earlier falling as low as $1,179.75, a level not seen since February 8.The U.S. dollar index, which measures the greenback's strength against a trade-weighted b...Read More
(Adds company news items, futures)Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.22 percent ahead of the cash market open.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic upd...Read More
Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic update since Britain voted in June to leave the European Union. BRITAIN BUDGET: Britain has ramped up i...Read More
Robert Friedland, executive chairman of Ivanhoe Mines (TSX:IVN), and CEO Lars-Eric Johansson, announced today that excellent progress has been made by Ivanhoe in upgrading and modernizing the Kipushi Mine's shafts, pumping stations and underground infrastructure as part of the plan to prepare the mine for the restart of commercial production. The mine now has clear and safe access to all of the ma...Read More