Goldcorp reported a net loss of $131 million or 15 cents per share in its second quarter.Goldcorp attributed the loss to non-cash foreign exchange losses primarily arising on deferred tax balances. The company reconfirmed 2018 guidance for gold production of 2.5 million ounces, plus or minus 5 per cent, and a all-in-sustaining-cost of $800 per ounce, plus or minus 5 per cent. Gold production was...Read More
Chilean miner Antofagasta Plc. (LON:ANTO) said Wednesday that copper production in the second-quarter of the year jumped 6.1% to 163,200 tonnes, while costs fell by 7.5% to $1.85 per pound.Higher output at its Centinela and Antucoya mines mitigated declines at Los Pelambres and Zald?-var.The company, majority-owned by Chile's Luksic family, one of the country's wealthiest, said it expected the hig...Read More
Vale announced an adjusted EBITDA of US$3.9 billion in Q2 with iron ore production of 96.8 tonnes and sales of 86.5 tonnes.Iron ore production was 4.9 tonnes higher than the same period a year ago. Vale's net operating revenues were US$8.616 billion.Vale said capital expenditures have reached the lowest level for a second quarter since 2005, totaling US$705 million with US$205 million in project...Read More
* Google parent jumps to record as results impress* Beijing pledges vigorous fiscal steps (Updates to U.S. stock market close)By Trevor HunnicuttNEW YORK, July 24 (Reuters) - Stocks on major world markets hit their highest in more than a month on Tuesday, on good earnings reports from U.S. companies and after China promised fiscal action to support the world's second-largest economy.MSCI's global...Read More
* FTSE 100 up 0.7 pct as miners, banks rise* Spectris down on cost saving disappointment* Britvic , Close Brothers gain after updates (Recasts, adds detail and updates prices at close)By Danilo Masoni and Kit ReesMILAN, July 24 (Reuters) - Britain's top share index rose on Tuesday as banks and mining companies rallied, joining in with a broader rise across European stocks as sectors bruised by...Read More
Investing.com - Gold prices edged forward on Tuesday, as a weaker dollar helped to support demand for the precious metal.At 10:59 AM ET (14:59 GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $3.00, or 0.24%, to $1,228.60 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted baske...Read More
* Google parent jumps to record as results impress* Talk U.S. GDP report on Friday could beat forecasts* Metals prices jump* Beijing pledges vigorous fiscal steps (Updates to U.S. stock market open; changes dateline, previous LONDON)By Trevor HunnicuttNEW YORK, July 24 (Reuters) - Global equity markets hit their highest in a month on Tuesday, as stellar results from Google parent Alphabet underpin...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.4 pct as miners, banks rise* Spectris down on cost saving disappointment* Britvic , Close Brothers gain after updatesMILAN, July 24 (Reuters) - Britain's top share index rose on Tuesday as gains in banks and mining companies offset weakness in energy stocks.Trading activity was lackluster with the FTSE 100...Read More
(Adds company news items and futures)July 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points higher at 7,681 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.38 percent ahead of the cash market open.* BT GROUP: Britain's BT Group BT.L said on Tuesday it would encourage telecom operators to move residential and business customers onto faster broadband by o...Read More
July 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points higher at 7,681 on Tuesday, according to financial bookmakers.* BHP: The management at Chile's Escondida copper mine, the world's largest, said on Monday it would deliver its final labor contract offer to the labor union on Tuesday amid tense contract negotiations ahead of a possible strike. BRITAIN-NORTHSEA: The British...Read More
The ongoing trade war between the United States and China has forced the Chilean Copper Commission (Cochilco) to revise downwards its average copper price prediction by $0.06 per pound to $3.The state agency also said it expected the metal's price to climb back upwards next year, reaching $3.10 per pound.In terms of output in Chile, the world's largest copper producing country, Cochilco expects...Read More
Canadian gold junior Lumina Gold (TSX-V:LUM) (OTC:LUMAF) said Tuesday that recent changes introduced by Ecuador to mining regulations will allow the company to boost exploration at its Cangrejos gold-copper project.The reforms, enacted by the country's Ministry of Energy and Non-Renewable Natural Resources, let companies perform non-systematic drilling during the early exploration phase of their...Read More
Mining investors are losing confidence in the mineral exploration permit process in most Canadian provinces with applications taking longer to be approved and a lack of transparency, a new study released Tuesday shows.According to the Fraser Institute, an independent, non-partisan Canadian policy think-tank, British Columbia, Ontario and Quebec are the three main provinces where exploration reques...Read More
* Bond yields spike; BoJ may scale back stimulus* U.S. curve steepens further as dollar nudged off two-week lows* Stocks rise ahead of major earnings* Oil volatile on U.S.-Iran row, and gold loses more luster (Updates to early afternoon with oil price declines, U.S. stock gains)By Trevor HunnicuttNEW YORK, July 23 (Reuters) - Fears that monetary policymakers in the U.S. and Japan will scale back s...Read More
Investing.com - Gold prices fell back towards one-year lows on Monday, as traders turned their attention towards the latest U.S. growth figures to be released at the end of the week.At 11:28 AM ET (15:28 GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell $7.00, or 0.6%, to $1,224.10 a troy ounce.That was not far off last week’s low of $1,211...Read More
By Sudarshan VaradhanNEW DELHI, July 23 (Reuters) - Ground water in Vedanta Resources ' VED.L south Indian copper smelter contains heavy metals exceeding limits for drinking water, India's junior minister for water resources, Arjun Ram Meghwal, told lawmakers on Monday.The smelter was shut down in May under order of the Tamil Nadu (NS:TNNP) state government after 13 people died after coming under...Read More
* Threats of further U.S.-China tariffs hit European shares* U.S. dollar recovers from two-week low* Supply fears boost crude prices* Graphic: Japanese bond yields jump to 6-month high https://reut.rs/2LgVPjJBy Helen ReidLONDON, July 23 (Reuters) - Signs that the Bank of Japan (BoJ) might scale back its monetary stimulus faster than expected sent tremors through bond markets on Monday, while Europ...Read More
* Threats of further U.S.-China tariffs hit European shares* Heavy earnings week kicks off on Europe* U.S. dollar recovers from two-week low* Graphic: Japanese bond yields jump to 6-month high https://reut.rs/2LgVPjJBy Helen ReidLONDON, July 23 (Reuters) - Signs that the Bank of Japan (BoJ) might scale back its monetary stimulus faster than expected sent tremors through bond markets on Monday, whi...Read More
* Bank of Japan easing report sends bond yields up* European shares wilt as heavy earnings week kicks off* U.S. dollar falls to two-week low* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Graphic: Japanese bond yields jump to 6-month high https://reut.rs/2LgVPjJBy Helen ReidLONDON, July 23 (Reuters) - Signs that the Bank of Japan could scale back its monetary stimulus faster than expec...Read More
1. In 2013 and 2014 I predicted the Fed would lead the ECB and the BOJ in a slow but steady reversal of central bank policy, from QE/low rates to QT and relentless rate hikes. Even more shockingly, I predicted this would create a money velocity bull cycle in most Western countries. I also suggested that during this process the world's greatest asset (gold) would regain its position as the most res...Read More