MUMBAI, Sept 6 (Reuters) - The Reserve Bank of India is supporting the rupee from falling to 72 to the dollar mark, said two dealers on Thursday, citing spurts of dollars sales at the 71.95 level likely by the central bank.The Indian rupee INR=D2 quickly reversed some of its losses and was trading at 71.86 to the dollar after touching a intraday low of 71.95 in early trade. It had closed at 71.775...Read More
* U.S. crude stockpiles draw more than expected - EIA* U.S. gasoline stockpiles build unexpectedly - EIA* Emerging-market turmoil casts doubt over oil demand* OPEC expects oil demand to hit 100 mln bpd this year (Updates prices throughout)By Jessica Resnick-AultNEW YORK, Sept 6 (Reuters) - Crude futures reversed course, falling more 1 percent on Thursday after U.S. data showed gasoline inventories...Read More
NEW DELHI, Sept 6 (Reuters) - India's top court lifted a colonial-era ban on gay sex on Thursday, in a landmark judgement activists hope will improve rights for the LGBT community in the country.A five-judge panel in India's Supreme Court was unanimous in its decision to end the law commonly known as "Section 377", that prohibits "carnal intercourse against the order of nature with any man, woman...Read More
Investing.com - Gold prices headed higher in mid-morning trade as the safe-haven metal finally sparked buyer interest amid U.S.-China trade worries, while a weaker-than-expected reading on job creation also helped reduce worries over a faster pace of rate hikes from the Federal Reserve.At 10:53 AM ET (14:53 GMT), gold futures for December delivery on the Comex division of the New York Mercantile E...Read More
* Hokkaido Electric tumbles after powerful quake* Nikkei reshuffle announcement affects some stocksBy Ayai TomisawaTOKYO, Sept 6 (Reuters) - Japan's Nikkei fell on Thursday on the back of broad weakness in global equities, while investors awaited damage assessments after a powerful earthquake in Hokkaido, the latest in a series of natural disasters to hit the country this year.At least one person...Read More
* 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