"We have had some really positive surprises out of this process"LeadershipOnly open global trade can answer critical elements questionsPoliticsChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftElementos builds diversified tin growth platformSPONSOREDelementos Imperial's finances have been hit by a recent two-month strike at the...Read More
It is hardly a surprise that existing and future shareholders in the mining industry are predominantly concerned about returns on their investments. Regardless of whether investors are seeking a capital appreciation of their stock portfolio or plan to grow their money through dividend payments, or a combination of both, they typically make money when a company does.Mining companies that provide a...Read More
(Bloomberg) - Industrial metals started the week with more losses on concern that the escalating U.S.-China trade war will hurt prospects for demand in the biggest users.Copper, nickel and zinc dropped at least 1.3 percent in London after President Donald Trump was said to have instructed aides to proceed with tariffs on about $200 billion more in Chinese products, despite his Treasury Secretary'...Read More
MOSCOW, Sept 17 (Reuters) - A company owned by Russian billionaire Alisher Usmanov is in talks to raise $1.25 billion from Russian banks by the start of 2019 to build a massive mining and metallurgical plant at Russia's biggest untapped copper deposit, its chairman said.Large greenfield projects in Russia's energy and mining sector slowed after Russia was hit by Western sanctions four years ago, l...Read More
Investing.com - Gold prices look likely to remain under pressure this week with the prospect of higher U.S. interest rates to the front of metal traders’ minds.The U.S. will see a relatively quiet week in terms of economic releases, with a report on the housing sector expected to draw the most attention.Economists reckon the data will do little to alter expectations that the Federal Reserve...Read More
Investing.com - Oil traders are likely to stay focused on potential disruptions to global crude supplies in the upcoming week, as looming U.S. sanctions on Iran are widely expected to lead to a tighter market.The sanctions, which from November will include Tehran's oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.Iran is the...Read More
Investing.com - The U.S.-China trade spat will likely remain a key driver of sentiment in the week ahead after reports said U.S. President Donald Trump wants to move forward with tariffs on $200 billion in Chinese goods.U.S.-Sino trade-war fears have been simmering for months. Neither side is showing any signs of backing down, fueling worries that world's two largest economies are spiraling toward...Read More
* Trump proceeding with tariffs on China -source* Emerging market stocks rise after Turkey rate hike* Oil rises, helping energy shares (Updates to close of U.S. stock market)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade war with Beijing....Read More
Anglo American Plc has quietly become a commodities trader.In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking a back seat to mines that produce everything from copper and platinum to diamonds.Anglo's move into t...Read More
Sept 15 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events ----------------------------------------------...Read More
* Fiscal year to end without spending cuts - finmin* Will have higher-than-projected growth rate - finmin* Prime Minister satisfied with broad econ parameters (Updates to add detail from meeting, context)By Neha Dasgupta and Nigam PrustyNEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gr...Read More
NEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gross domestic product in the ongoing fiscal year, a day after announcing a number of measures to bolster a falling rupee.The fiscal year that ends in March 2019, will be completed without any spending cuts and the government is sure of me...Read More
Barrick Gold Corp. may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, Executive Chairman John Thornton told the Globe and Mail newspaper.The Toronto-based company has slashed middle management by half to about 700 and "we want to get it down to 300," Thornton, who's been in his role since 2014, told the Globe in an interview in London. The former Goldman Sachs Gro...Read More
Brazilian mining company Nexa Resources plans to invest some $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday.About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc, Porta said in an interview.The proposed mine closest to being developed is Aripu...Read More
The prime minister of the Democratic Republic of Congo will sign a decree in the coming days to designate cobalt and other minerals as "strategic" and therefore subject to higher royalties, Mines Minister Martin Kabwelulu said on Saturday.The change is part of a new mining code, which mining companies including Glencore and Randgold oppose as it axes tax exemptions and hikes royalties and profit t...Read More
(Adds details)NEW DELHI, Sept 14 (Reuters) - India needs to be extremely vigilant to check weakness in the rupee and the task was to minimise volatility and avoid contagion to other macro policies, a member of the prime minister's economic advisory panel said on Friday.Prime Minister Narendra Modi is set to meet officials on Saturday to decide ways to address the currency's weakness and rising fue...Read More
* Oil on track for 1.6 pct weekly gain* Drillers add 2 oil rigs to 749 -Baker Hughes* Iran supply reductions loom (Updates with settlement prices and weekly gain)By Jessica Resnick-AultNEW YORK, Sept 14 (Reuters) - Oil prices pulled back on Friday on concerns additional U.S. tariffs would be placed on Chinese imports, after an earlier rally triggered by worries that more sanctions on Iran might co...Read More
(Bloomberg Opinion) -- Bloomberg Opinion marks the 10th anniversary of Lehman’s bankruptcy with a collection of columns from around the world. Read more.One of the most intriguing aspects of the 2007-09 financial crisis is how little understanding there is of what actually occurred. Some of this has to do with the complexities of the event, as well as how hard it is to identify forces lurkin...Read More
* Report says Trump proceeding with tariffs on China* Emerging market stocks rise after Turkey rate hike* Oil rises, helping energy shares (Updates with forthcoming U.S. tariffs on China)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade disp...Read More
Investing.com - Gold prices were lower on Friday after the greenback rallied from an earlier loss.Comex gold futures for December delivery decreased 0.51% to $1,202.00 a troy ounce as of 11:21 AM ET (15:21 GMT).Disappointing data on Thursday and Friday increased concern that the Federal Reserve could ease its stance on monetary policy. U.S. retail sales barely registered any gains in August, while...Read More