(Bloomberg) - The first time Karen Requena entered the cafeteria at BHP Billiton's massive Escondida mining operation in northern Chile, she couldn't help feeling countless eyes fixed on her body as she walked across the vast hall. "It can't get worse than that," she thought. Then as Requena looked for a place to sit, the noise started. Thousands of men began banging their knives and forks against...Read More
JAKARTA, Aug 8 (Reuters) - Indonesia's president has issued new tax regulations aimed at providing clarity for mining companies shifting their current contracts to special mining permits, in a move that could help cement a $3.9 billion deal with Freeport McMoran Inc.Freeport last month signed a Heads of Agreement to sell to the Indonesian government a majority stake in its local unit PT F...Read More
Glencore credited China's clamp down on mills and smelters with boosting its bottom line in its 2018 H1 released today.The diversified commodity giant adjusted H1 EBITDA for its metal and minerals division was $6.0 billion, 28% higher than the same period a year ago.Glencore's energy division was up 19% to $2.5 billion while agriculture declined 34% to $109 million."Industrial metals prices increa...Read More
Aug 7 (Reuters) - India's Punjab National Bank PNBK.NS reported its second consecutive quarter of loss as the country's second-biggest state-run lender set aside more funds for a massive fraud it disclosed earlier this year.Net loss was 9.40 billion rupees ($136.72 million) for the three months to June 30, compared with a profit of 3.43 billion rupees a year earlier, the bank said in a statement...Read More
* U.S. sanctions on certain Iranian goods started Tuesday* EIA cuts growth forecast for 2018 U.S. crude production* U.S. crude inventories fell more than expected -API* Up Next: EIA data Wednesday morning (Adds API data, market activity)By Andres Guerra LuzNEW YORK, Aug 7 (Reuters) - Oil prices rose on Tuesday after U.S. sanctions on Iranian goods went into effect, intensifying concerns that sanct...Read More
By Aditi ShahNEW DELHI, Aug 7 (Reuters) - Indian ride-hailing firm Ola said on Tuesday it plans to launch services in the United Kingdom this year, months after it expanded its operations in Australia, in an ongoing turf war with U.S. rival Uber Technologies UBER.UL .Ola, backed by Japan's Softbank Group 9984.T , has obtained licences to begin operations in South Wales in September, as well as Gre...Read More
* FTSE 100 up 0.7 pct at close* Intertek, Hargreaves down after results* Domino's set for worst day in 17 months (Adds quote and detail, updates prices at close)By Danilo MasoniMILAN, Aug 7 (Reuters) - Britain's top share index rose on Tuesday as miners and oil stocks tracked rising commodity prices, although some disappointing updates including from Intertek and Hargreaves kept a lid on gains.T...Read More
Investing.com - Gold prices traded higher on Tuesday as a weaker dollar boosted demand for the precious metal.At 11:10 AM ET (15:10 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange traded up $2.20, or 0.18%, to $1,219.90 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of s...Read More
* World shares near 6-month high as China shines* Turkish lira bounces after Monday drubbing, but still shaky* Euro, pound tick higher as dollar eases* Oil prices push higher on Iran sanctions, supply signals* Benchmark bond yields tick up as demand for safety ebbsBy Marc JonesLONDON, Aug 7 (Reuters) - World shares edged toward a six-month high on Tuesday, as the biggest jump in Chinese stocks for...Read More
* World shares near 6-month high as China shares shine* Turkish lira bounces 1.7 pct after Monday drubbing* Euro, pound tick higher as dollar eases* Oil prices drift higher on Iran sanctionsBy Marc JonesLONDON, Aug 7 (Reuters) - World shares edged toward a six-month high on Tuesday, as the biggest jump in Chinese stocks for over two years and an upbeat start for Europe followed Wall Street's best...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.45 pct* Intertek, Hargreaves down after results* Domino's set for worst day in 17 monthsBy Danilo MasoniMILAN, Aug 7 (Reuters) - The UK's top share index edged higher in morning trading on Tuesday as miners and oil stocks tracked rising commodity prices, although some disappointing updates including from Inte...Read More
(Adds company items, futures)Aug 7 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 6 points at 7,670 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.3 percent ahead of the cash market open.* TP ICAP (LON:NXGN): TP ICAP Plc TCAPI.L , the world's largest interdealer broker, said on Tuesday it chose Paris to be its European Union headquarters after Britain leaves...Read More
Aug 7 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 6 points at 7,670 on Tuesday, according to financial bookmakers.* BHP: Miner BHP BLT.L said on Monday it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world's largest, hours before the union threatened to begin a walk-off. MONDI: Mondi Plc MNDI.L acquired a contro...Read More
* MSCI's Asia-Pacific index rises 0.35 pct, Nikkei up 0.6 pct* Spreadbetters expect European stocks to open slightly higher* Dollar index hovers at 3-wk highs amid ongoing trade concerns* Turkey's lira near record low as US-Turkish tensions ramp up* Oil extends rise after renewed US sanctions on Iran kick inBy Shinichi SaoshiroTOKYO, Aug 7 (Reuters) - A rebound in battered Chinese stock markets on...Read More
(Bloomberg) -- Glencore (LON:GLEN) Plc may have had a nightmarish year so far, but the world’s top commodity trader is still raking in mountains of money.The company is facing a U.S. corruption probe, got mired in a dispute with its billionaire former partner in the Democratic Republic of Congo and has been caught in the fallout from new U.S. sanctions on Russia -- among other issues. Ye...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copper PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go...Read More
Fatality at Serabi mine: NMBCapital markets"We have had some really positive surprises out of this process"LeadershipPolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftIt's not often that Australians are impressed by other people's weather, but I must say I am pleased not to be holidaying...Read More
Latin America-focused Westminster Resources (TSX.V: WMR) announced today that it has signed a letter of intent to acquire a land package in the La Ronge district of Saskatchewan, central Canada. In a press release, the miner said that the project package consists of two contiguous claims60 kilometres northeast of the town of La Ronge. The land extends for 10,858 hectares and historically its focus...Read More
Due to reduced precipitation and a minimal snow melt, Centerra Gold's Mount Milligan may have to reduce production.Centerra Gold (TSX:CG), which warned investors about water constraints in its second quarter news release, has applied to British Columbia regulators to access additional water sources through July 2020."If regulatory approvals to access water sources are not received as expected and...Read More
* Saudi July crude output down 200,000 bpd from June -OPEC sources* U.S. wants countries to stop buying Iranian oil -senior official* Some sanctions due to take effect Tuesday (Updates with settlement prices; adds commentary)By Stephanie KellyNEW YORK, Aug 6 (Reuters) - Oil futures gained on Monday after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about glo...Read More