On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the desert, the robbe...Read More
It's been a decade since the Argentinian government last polled its mining sector but this week some results from a census carried out in 2106 were made public.According to the document the National Institute of Statistics and Census made available online, over 1,500 mining companies were operating in the South American country in 2016. Their extractive activities generated $1,329 million while th...Read More
(Adds Siemens (NS:SIEM), Nova Ljubljanska Banka, Boeing (NYSE:BA) Co, Comcast, AT&T, Lazard Ltd, Eversource Energy, Xerox, French oil and gas major Total )July 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Friday:** French oil and gas major Total TOTF.PA said that it has completed a $1.5 billion deal to acquire Engie's ENGIE upstream Liq...Read More
* Fears Chinese trade surplus could inflame dispute* Dollar rises, gold falls on trade war concerns* U.S., European stocks steady* Oil drops 4 percent this week (Adds Wall Street open; changes dateline from LONDON; recasts with U.S. dollar, updates throughout)By Hilary RussNEW YORK, July 13 (Reuters) - The safe-haven U.S. dollar touched to a two-week high on Friday after data showed a record Chine...Read More
(Bloomberg) -- The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 3 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the l...Read More
* Fears Chinese trade surplus could inflame dispute* Oil drops four percent this week* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tom FinnLONDON, July 13 (Reuters) - World stocks rose for a second consecutive week on Friday as investors prepared for an expected run of strong earnings in the United States, although fears about the U.S.-China trade conflict kept gains in check and pu...Read More
(Adds company news, futures)July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers, with futures FFIc1 up 0.50 percent ahead of the cash market open.* EXPERIAN: Experian Plc EXPN.L , the world's biggest credit data company, racked up a 10 percent year-on-year rise in revenue in the first quarter at constant exchange...Read More
July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers.* BHP: The union for Chile's Escondida copper mine said Thursday a contract offer presented by the company was unacceptable and threatened to strike unless changes were made. BP PLC: Production at BP Plc's BP.L 413,500 barrel-per-day capacity Whiting, Indiana...Read More
South America-focused Miramont Resources Corp. (CSE: MONT) announced that it has entered into an option agreement to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru. With this acquisition, the combined area of the project has increased to 1,318 hectares. Cerro Hermoso is located in the southern Puno region, 60 kilometres from the city of Juliaca and 5...Read More
(Bloomberg) - The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 2.7 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the...Read More
(Bloomberg) - On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the de...Read More
Ecuador-focused miner SolGold (LON:SOLG) (TSX:SOLG) said Friday it had intersected copper and gold deposits while drilling at Alpala and Aguinaga prospects its 85%-owned Cascabel copper-gold project, in northern Ecuador.Extension drilling at Alpala Central was expected to extend the high-grade mineralization along the lower and northeast margins of the deposit, located about 180 km north of the...Read More
McKinsey tracked 2.8 per cent per annum increase in productivity between 2014 and 2016 mostly due to mines reducing headcounts and limiting spending, says the consultancy in a study published last month.Data is still pending, but McKinsey believes the productivity trend is continuing.McKinsey measures mine productivity using its MineLens Productivity Index, a measure of physical mining output, emp...Read More
Chile-focused copper miner Antofagasta Plc (LON:ANTO) said Friday it had sold its electricity transmission business Centinela Transmisi??n for $117 million.Proceeds from the sale would enable Antofagasta to focus on its core activity of producing copper.The company said the sale of the unit that holds its electricity transmission lines was consistent with its strategy of disposing of its water and...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* China shares recover 2 percent, European shares up 0.7 pct* Dollar hits 6 month high vs yen, euro holds ground* Bund-Treasury spread growing, ECB signals careful steps* Oil prices stabilise after biggest fall in over 2 years* Traders on high alert for trade war moves* Wall Street seen opening high, Trump cheers NATO dealBy Marc JonesLONDO...Read More
(Adds company news and futures)July 12 (Reuters) - Britain's FTSE 100 .FTSE index is to open 26 points higher at 7,618 on Thursday, according to financial bookmakers, with futures FFIc1 up 0.28 percent ahead of the cash market open.* PREMIER OIL: Premier Oil 's PMO.L board has approved its Tolmount gas project in the UK North Sea ahead of a final investment decision in the third quarter and the c...Read More
July 12 (Reuters) - Britain's FTSE 100 .FTSE index is to open 26 points higher at 7,618 on Thursday, according to financial bookmakers.* SKY: Comcast Corp CMCSA.O on Wednesday raised its offer for Britain's Sky SKYB.L in a deal valuing the pay-TV group at $34 billion, challenging a raised bid from Twenty-First Century Fox FOXA.O . BHP BILLITON: BHP Billiton Plc BLT.L , BHP.AX handed in a proposal...Read More
* MSCI Asia-Pacific index gains 0.6 pct, Nikkei bounces 1.3 pct* Spreadbetters see European stocks opening higher* Asian markets consolidate after previous day's big tumble* Dollar stands tall amid trade fears, hits 6-mth high vs yen* Copper pulls up from 1-year low, crude also reboundsBy Shinichi SaoshiroTOKYO, July 12 (Reuters) - Stocks and commodities recovered slightly on Thursday as markets t...Read More
* MSCI Asia-Pacific index gains 0.05 pct, Nikkei bounces 1.1 pct* Asian markets consolidate after previous day's big tumble* Dollar stands tall amid trade fears, hits 6-mth high vs yen* Oil, copper rebound modestlyBy Shinichi SaoshiroTOKYO, July 12 (Reuters) - Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears o...Read More
SANTIAGO, July 11 (Reuters) - BHP Billiton Plc handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23,000 bonus per worker, the company said on Wednesday.The offer falls short of fulfilling some of the demands laid out by the union previously.In its proposal in early June, the union asked fo...Read More