ALGIERS, Sept 23 (Reuters) - OPEC and allied oil producers including Russia ended their meeting on Sunday with no formal recommendation for any additional supply boost.Oman's Oil Minister Mohammed bin Hamad Al-Rumhy and Kuwaiti counterpart Bakhit al-Rashidi told reporters that producers had agreed they needed to focus on reaching 100 percent compliance with production cuts agreed at an OPEC meetin...Read More
Gold, base metals downCapital marketsThe key to the unexpected optimism at a time of global political tension can be found in the exposure of the majors such as BHP, Rio Tinto and South32 to bulk commodities, which have been larg...Read More
Forum Energy Metals (TSXV: FMC) is expanding its portfolio. From focusing on copper and uranium in Saskatchewan, the Vancouver-based miner now wants to work on extracting a wider array of products, from precious metals to minerals aimed at supplying the EV market.This week, Forum announced that it has executed a formal agreement to acquire, for a total of $75,000, the Quartz Gulch cobalt property...Read More
Researchers at Soonchunhyang University in South Korea are processing copper nanoparticle ink with green laser light to use it for printing cheaper electronic circuits.In a paper published in the journal AIP Advances, the scientists explain that metallic inks are composed of nanoparticles and they hold an advantage over bulk metals because of their lower melting points.To explore the limits of suc...Read More
By Sanjeev Miglani and Ingrid MelanderNEW DELHI/PARIS, Sept 22 (Reuters) - Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner.Indian political parties have been gunning for Modi over the 2016 p...Read More
MUMBAI, Sept 22 (Reuters) - IL&FS Investment Managers, a unit of India's Infrastructure Leasing & Financial Services (IL&FS) which announced debt defaults this week, said on Saturday its Managing Director Ramesh Bawa had resigned.IL&FS has revealed a series of delays and defaults on its debt obligations and inter-corporate deposits in recent days and ICRA (NS:ICRA) cut the rating o...Read More
(Corrects company name to IL&FS Financial Services in paragraph 4, not IL&FS)NEW DELHI, Sept 21 (Reuters) - India's Infrastructure Leasing & Financial Services (IL&FS) ILFSL.UL was unable to service its obligations on interest payments on non-convertible debentures that were due on Friday, the company said in a statement.The company was also unable to meet its obligations for a let...Read More
Hudbay to take part of Doubleview's HatM&APolarX points to upsideSPONSOREDpolarx ltd Highland president and CEO Denis Miville Deschenes admitted at the Beaver Creek Precious Metals Summit "it's very tough at the moment on the equity side" with the company's sub-C$50 million market cap. It has strong backers in the form of Greenstone Resources (17%), Orion Mine Finance (15%) and Osisko Gol...Read More
* Both NSE, BSE indexes decline 0.8 pct* Indexes post biggest weekly drop since Aug 2017Sept 21 (Reuters) - Indian shares erased most of the losses on Friday after panic selling in housing finance and property stocks saw key stock indexes plunge over 3 percent in intraday trade.The broader NSE index .NSEI closed 0.81 percent lower at 11,143.10, while the benchmark BSE index .BSESN fell 0.75 percen...Read More
By Krishna N. Das and Sanjeev MiglaniNEW DELHI/BHOMADA, India, Sept 21 (Reuters) - Narendra Modi swept India's 2014 general election with the slogan "Achhe din (good days) are coming".Four years later, as Prime Minister Modi mobilises to win re-election in May, he and his Bharatiya Janata Party (BJP) are being buffeted for a lack of jobs, falling farm prices and rural wages, a tax reform that led...Read More
NEW DELHI, Sept 21 (Reuters) - Fitch Ratings has upwardly revised its forecast for India's economic growth to 7.8 percent from 7.4 percent for the current financial year ending in March 2019, it said in a statement on Friday."The economic outlook is subject to several headwinds including tightening of financial conditions, a rising oil bill and weak bank balance sheets," the statement added.Indian...Read More
* FTSE 100 up 1.7 pct* Sterling sinks further after May lays down gauntlet to EU* Banks and miners drive gains* Just Eat tumbles on report Uber in talks to buy Deliveroo (Updates prices, adds details, quotes)By Helen ReidLONDON, Sept 21 (Reuters) - A slide in sterling after a speech by Prime Minister Theresa May helped boost Britain's exporter-heavy FTSE 100 to a 2 1/2 week high, cementing a thr...Read More
Investing.com - Gold prices headed lower on Friday as a stronger dollar dented demand for the precious metal, but it was still on track for its first weekly climb in four as investors recentered their attention on the Federal Reserve.At 11:14 AM ET (15:14 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $9.00, or 0.74%, to $1,202.30 a troy oun...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.9 pct* Banks, miners drive lion's share of gains* Just Eat tumbles on report Uber in talks to buy Deliveroo* Sterling down after UK-EU Salzburg meetingBy Helen ReidLONDON, Sept 21 (Reuters) - Miners and banks drove Britain's top share index to a fresh two-week high on Friday, while Just Eat tumbled as Uber's...Read More
Pumpkin Hollow goes into production next year, but the underground mine is only the first phase of a planned Nevada copper operation four times the size Sun shines on Pumpkin Hollow underground project set for production in a year.For Yerington it's been 40 years in the making.The waste dumps left behind by Anaconda after shutting copper operations in 1978 still loom large over the small town in N...Read More
LONDON/ULAANBAATAR, Sept 21 (Reuters) - The Mongolian government broke laws during a controversial attempt to seize full control over the Erdenet copper mine, a local court said on Thursday, the latest ruling in a long-running ownership dispute over one of Asia's biggest deposits.The Mongolian Copper Corporation (MCC) has been fighting for more than a year to stave off the government's attempt to...Read More
BEIJING, Sept 21 (Reuters) - China's top state copper companies threw their weight behind Shanghai's first copper options on Friday, with early turnover trouncing its New York rival and raising a big challenge to the 141-year-old London bourse in the $270 billion global market.The initial burst of activity demonstrates strong interest among Chinese investors as the country aims to capitalise on i...Read More
MANILA, Sept 21 (Reuters) - The Philippines on Friday temporarily suspended all quarrying operations in seven regions following a landslide near a limestone quarry that killed at least 29 people, with dozens more feared trapped under the rubble.As search, rescue and retrieval operations continued at the landslide site in Naga City on the central island of Cebu, Environment and Natural Resources Se...Read More
NEW DELHI, Sept 20 (Reuters) - India has set the dollar exchange rate at 73.65 rupees for import tax calculations effective Sept. 21, compared with 72.55 rupees a fortnight ago, according to a finance ministry statement on Thursday.The rupee INR=D2 , Asia's worst performing currency this year after depreciating around 12 percent, closed at 72.39 on Wednesday. It hit a record low of 72.99 on Tuesda...Read More
* Trump: "OPEC monopoly must get prices down now!"* OPEC gathering unlikely to agree change in oil output* U.S. sanctions on Iran oil exports start on Nov. 4 (Recasts with pullback in prices; updates with settlement prices)By Jessica Resnick-AultNEW YORK, Sept 20 (Reuters) - Oil prices eased on Thursday, pulling back after U.S. President Donald Trump urged OPEC to increase production at...Read More