* Hokkaido Electric tumbles after powerful quake* Inbound-related stocks such as cosmetics makers fall* Tech shares weak tracking U.S. peersBy Ayai TomisawaTOKYO, Sept 6 (Reuters) - Japan's Nikkei fell on Thursday as tech shares were pressured by losses in their U.S. peers overnight and as investors awaited damage assessments after a powerful earthquake in Hokkaido, the latest in a series of natur...Read More
Fatality at Serabi mine: NMBCapital markets"We have had some really positive surprises out of this process"LeadershipBlack Rock polishes MahengeSPONSOREDblack rock miningTime is right for Heron to take flightSPONSOREDheron resources I still, somewhat annoyingly, feel compelled to spend an absurdly large proportion of my summer holidays reading something turgid and incomprehensible. For...Read More
Adequate financing is crucial for companies, especially for those working in such a capital-intensive industry as mining. Very few companies working in the Mining & Metals sector, even those with producing assets, can finance their operating, capital, exploration, development, and other expenses with cash-flow generated by commodity sales and other revenue-generating activities.A majority of minin...Read More
XINING, China Sept 6 (Reuters) - China's Western Mining Co Ltd will start commercial production at its 100,000-tonne-per-year (tpy) copper smelter in northwestern Qinghai province in October and spend 8 billion yuan ($1.17 billion) to expand its mine in Tibet, executives said on Thursday.The smelter project, which involved investment of 2.4-2.5 billion yuan, is currently undergoing test production...Read More
A unit of Chinese state-run conglomerate CITIC will become this month Canada's Ivanhoe Mines' (TSX:IVN) biggest shareholder following billionaire Robert Friedland's company's decision to sell a 20% stake for about $548 million (C$723m).The deal, announced in June, has received all necessary approvals from China's regulatory agencies, so it's expected to close on Sep. 19, the companies said in...Read More
* Tropical storm Gordon weakens* Global trade dispute could hit energy demand -OPEC sec gen* U.S. crude stock draw slightly smaller than expected - API (Updates to include API data)By Stephanie KellyNew York, Sept 5 (Reuters) - Oil prices fell more than one percent on Wednesday after a U.S. Gulf storm weakened and moved away from oil-producing areas and as concerns mounted about global trade dispu...Read More
Sept 5 (Reuters) - The Reserve Bank of India (RBI) likely intervened mildly in the forex markets on Wednesday, two traders told Reuters, as the rupee hit a fresh low in line with other emerging market currencies hurt by dollar strength and simmering trade tensions.The RBI is expected to have sold dollars at 71.80 rupees per dollar in the local spot forex market to stem a sharp fall in the Indian c...Read More
MUMBAI, Sept 5 (Reuters) - Indian exports are rising driven by a fall in the rupee against U.S. dollar, by more than 11 percent so far this year, the trade secretary said on Thursday.Merchandise exports INEXP=ECI rose 14.32 percent in July to $25.77 billion from a year ago. down the impact of the weak rupee on the economy, Trade Secretary J.S. Deepak (NS:DPFE) said in the medium term, country's fu...Read More
Investing.com - Gold prices rebounded on Wednesday after declining more than 1% a day earlier as the dollar took a pause from its climb this week and investors prepared for a slew of events at the end of the week.At 12:06 PM ET (16:06 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $3.60, or 0.30%, to $1,202.70 a troy ounce.Meanwhile, the U.S...Read More
Orla hits 147.7m at 1.25% copperResource definitionBlack Rock polishes MahengeSPONSOREDblack rock miningTime is right for Heron to take flightSPONSOREDheron resourcesChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftData released in the past week by the Australian Bureau of Statistics (ABS) showed capital spending in the WA resources indu...Read More
The company says commissioning of the new rougher flotation circuit has started on the Phase Two Expansion Project at Minera Valle Central, its 100%-owned operation near Rancagua, Chile. Copper concentrates from the new flotation circuit are being processed in the existing cleaner flotation circuit. Construction of the new cleaner flotation circuit is expected to be complete this month, while...Read More
The ASX junior (DAV) has been working diligently with a leading consulting firm to refocus wider attention on the credentials of Germany's South Harz potash basin, and its potential to be a bigger factor in future supply of the valuable agricultural mineral in the region and wider market.It has also just appointed UK-based Bacchus Capital Advisors to help it fully harness the increasing interest f...Read More
(Bloomberg) - Zambia plans to trim its fiscal deficit next year even as Africa's second-biggest copper producer boosts spending. It may be considering raising mine taxes to achieve that, according to analysts.The Finance Ministry is targeting a budget shortfall of 6.5 percent of gross domestic product next year, compared to 7.4 percent this year, according to a medium-term expenditure plan that s...Read More
(Bloomberg) - "Everyone loves copper and everyone wants to buy it" has been this year's mining mantra. Today the ball started rolling.Today the ball started rolling.China's Zijin Mining Group Co. swooped on a huge undeveloped copper mine in Serbia, acting as a white knight to beat out an earlier hostile bid from a Canadian rival. At the same time, BHP Billiton Ltd., the biggest miner, snapped up...Read More
World's largest miner BHP (ASX, NYSE:BHP) (LON:BLT) has bought a 6.1% stake in Ecuador-focused explorer SolGold (LON:SOLG) (TSX:SOLG) for $35 million, increasing this way its exposure to copper as the Cascabel project is believed to have the potential to become one of the largest copper-gold assets ever discovered.The Melbourne, Australia-based giant has acquired 103.1 million shares in SolGold...Read More
Canada's Nevsun Resources (TSX, NYSEMKT:NSU) has found a new suitor in China's state-backed Zijin Mining, which has offered Cdn$1.86 billion ($1.41 billion) for the gold and copper miner.Zijin's friendly takeover bid values each Nevsun share at Cdn$6, which will be paid in cash, representing a premium of about 21% to the Vancouver-based miner's close in Toronto on Tuesday.Zijin's friendly takeove...Read More
* Storm Gordon halts some energy production in U.S. Gulf* Gordon to make U.S. landfall as hurricane* Cushing crude stocks rose last week -traders, citing Genscape* U.S. dollar index higher, weighing on oil futures (Updates with settlement prices, adds commentary)By Stephanie KellyNEW YORK, Sept 4 (Reuters) - Oil prices were little changed on Tuesday, as energy infrastructure on the U.S. Gulf Coast...Read More
Sept 4 (Reuters) - Indian shares ended lower for a second straight session on Tuesday, dragged down by banks and consumer stocks, as the rupee extended declines to a record low and oil prices rose sharply.The Indian rupee INR=D2 , which tumbled to a record low of 71.54 on the dollar on Tuesday, is Asia's worst performing currency so far this year due to higher oil prices, turbulence in emerging ma...Read More
NEW DELHI, Sept 4 (Reuters) - Amazon.com AMZN.O on Tuesday launched a Hindi version of its mobile website and app for Android smartphones in a bid to make deeper inroads into India's fast-growing e-commerce market, stepping up its battle with Walmart (NYSE:WMT)'s WMT.N Flipkart unit.None of India's other leading e-commerce portals - Flipkart, Snapdeal or Paytm Mall - currently have a local languag...Read More
* FTSE 100 down 0.6 percent* Miners weigh; WPP (LON:WPP) slides after H1 results* Financials, weak pound supportive (Adds closing prices)By Kit ReesLONDON, Sept 4 (Reuters) - The UK's top shares index ended the session in the red on Tuesday amid growing trade war fears and as a drop among mining stocks and a fall in WPP shares weighed.The blue-chip FTSE 100 .FTSE index closed down 0.62 percent at...Read More