(Corrects EIA monthly forecast to 10.74 (not 10.75) million bpd in last paragraph)* U.S. stock markets broadly fall, weigh on oil futures* IMF downgrades economic growth forecasts for 2018, 2019* Hurricane heads towards Florida, closing some crude output* Coming up: API data on U.S. crude stocks due at 4:30 p.m. EDTBy Stephanie KellyNEW YORK, Oct 10 (Reuters) - Oil prices dropped 2 percent on Wedn...Read More
By Rajendra JadhavMUMBAI, Oct 10 (Reuters) - India's gold imports in September dropped more than 14 percent from a year ago as a rally in local prices due to a depreciating rupee reduced demand in the world's second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS.The drop in demand from Indian importers could weigh on global prices XAU= , which have dropped 8.8...Read More
Investing.com - Bitcoin and other major cryptocurrencies edged down on Wednesday morning in Asia while Tiberius Technology Ventures moved to stop selling its metal-backed cryptocurrency and plans to refund $1 million to investors, according to the company’s own blog. Bitcoin dropped 0.46% to $6,629.7 by 11:01PM ET (03:01GMT) on the Bitifinex exchange. ETH/USD fell 0.37% to $230.23 and Liteco...Read More
Orla hits 147.7m at 1.25% copperResource definitionNew thinking carves out strong zinc position for Europa MetalsSPONSOREDeuropa metalsStoried past, future potential for Sierra RutileSPONSOREDsierra leoneAMC Consultants: San Sebastian Mining Method Case StudySPONSOREDamc consultantsThere is hardly an investment pitch from a miner these days, or so it seems, without a reference to an imminent metal...Read More
PolarX points to upsideSPONSOREDpolarx ltd The Toronto-based miner reported strong performance at its Chelopech mine, in Bulgaria, which produced 3% more gold year-on-year at 49,600 ounces, while copper output rose 21% to 10.3 million pounds.The Tsumeb smelter, in Namibia, treated 68,431 metric tonnes of complex concentrate in the period, setting a new quarterly record that bested the previous re...Read More
Kin reshaping path towards developmentSPONSOREDkin mining nlThe results were helped by the commissioning of a second crusher line, which allowed copper production to restart from the flotation plant.Quarterly production was up 38% year-on-year t...Read More
There is big opportunity, and and also big risk in the Mekong mining sector, according to recently published report.Fitch Solutions Macro Research's industry analysis maintains the Mekong region will remain underdeveloped and dominated by domestic players in the coming years as foreign investment flows into the sector will be minimal amid a myriad of risks.The report also predicts that Myanmar wil...Read More
For all the bullish talk about metals of the future, miners are making some of their biggest profits from heavy-industry stalwart coal.Base metals from copper to zinc have tumbled this year, caught up as a proxy for trade fears and emerging market jitters. Meanwhile, coal has ground steadily upwards, supported by strong demand from top commodities user China, and is trading near the highest in m...Read More
Chile's mining minister Baldo Prokurica asked the London Metals Exchange (LME) Wednesday to consider trading the coveted metal used in the batteries that power electric vehicles (EVs) and high-tech devices, and so provide greater "clarity" about its value.Chile produced 80,000 tonnes of lithium carbonate equivalent last year, representing 35 percent of global production.On his first visit to Brita...Read More
LONDON, Oct 10- Polish miner KGHM, one of the world's leading copper producers, is focusing on shoring up its balance sheet rather than any early return to dividends, its new CEO said.Marcin Chludzinski, who was named chief executive in June, said he will deliver an updated strategy for the company by the end of the year.But after shareholders in July approved the company's decision not to pay a...Read More
BHP expects a plant at its Olympic Dam mine to restart this month following repairs and the company has found a way to deliver returns from the asset as part of a focus on maxmising productivity, its head of Australian operations said on Tuesday."The expectation remains that we'll have that back up and running this month," Mike Henry, president of operations, minerals Australia, said in an intervi...Read More
* Iranian crude exports slip to 1.1 mln bpd in 1st week Oct* Gulf of Mexico producers cut oil output by 40 pct ahead of storm* IMF cuts global growth forecast as trade war curbs begin* API, EIA data to be released Wednesday, Thursday, respectively (Adds settlement prices, commentary, market activity)By Stephanie KellyNEW YORK, Oct 9 (Reuters) - Oil prices rose about one percent on Tuesday on growi...Read More
* Move comes after RBI's data localisation directive* WhatsApp has been testing payments in India* Visa (NYSE:V), Google (NASDAQ:GOOGL), PayPal, others seek extension of RBI deadline -source (Updates to add context, detail)By Sankalp Phartiyal and Aditi ShahMUMBAI/NEW DELHI, Oct 9 (Reuters) - WhatsApp has built a system to store payment-related data in India, in line with a central bank directive...Read More
* BSE, NSE indexes end nearly 0.5 pct lower* Tata Motors plunges 13 pctOct 9 (Reuters) - Indian shares ended lower on Tuesday at their lowest closing level since April, with market heavyweight Tata Motors Ltd TAMO.NS dragging down the indexes amid weak global cues.The benchmark BSE index .BSESN closed down 0.51 percent at 34,299.47. The broader NSE index .NSEI ended 0.45 percent lower at 10,301....Read More
* European and Chinese stocks manage modest bounce* Beijing allows yuan to slip past 6.90 per dollar* US benchmark yields make fresh 7-year top, underpin dollar* Yen up on safety bid as risk appetite sours* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Asian stock markets https://tmsnrt.rs/2zpUAr4*By Marc JonesLONDON, Oct 9 (Reuters) - European stocks were sucked back into the red on T...Read More
* European and Chinese stocks manage modest bounce* Beijing allows yuan to slip past 6.90 per dollar* US benchmark yields make fresh 7-year top, underpin dollar* Yen up on safety bid as risk appetite sours* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Asian stock markets https://tmsnrt.rs/2zpUAr4*By Marc JonesLONDON, Oct 9 (Reuters) - Europe battled to fend off a four-day losing strea...Read More
Fatality at Serabi mine: NMBCapital markets"We have had some really positive surprises out of this process"LeadershipNew thinking carves out strong zinc position for Europa MetalsSPONSOREDeuropa metalsStoried past, future potential for Sierra RutileSPONSOREDsierra leoneGolf is, at its core, an individual game. Yes, we play with others - we socialise, we tell silly jokes and we eat a...Read More
Vice chairman, president and CEO Richard Adkerson told Bloomberg if an opportunity arose to sell to another company that would be good for shareholders, "you would see us trying to get the best deal we can get as opposed to being a company where management is trying to protect itself".As the miner nears closure on a long-running negotiation with Indonesia over control of the massive Grasberg coppe...Read More
PolarX points to upsideSPONSOREDpolarx ltd Following a meeting in Lima today, the board of creditors agreed to give Samsel Group until their next meeting scheduled for November 20 to come up with the necessary US$139 million.If not, they will schedule final auctions for La Oroya and the Cobriza copper mine for April next year, an advisor to the workforce told Mining Journal on October 9. PolarX p...Read More
PolarX points to upsideSPONSOREDpolarx ltd Full-year guidance was increased to 39,000-41,000 tonnes copper from the previous 37,000-40,000t after Riotinto produced a record 11,055t of copper in the September quarter, up 3.5% year-on-year.The period was also the second straight quarter where output exceeded 10,000t, bringing the year-to-date production to 30,942t. PolarX points to upsideSPONSOREDp...Read More