After coming unnervingly close to triple digits at the end of 2015, the price of gold ended a three-year losing streak last year. So far in 2017, gold has gained 9.5% in value, trading at more than $1,250 an ounce on Friday.MINING.com's sister company IntelligenceMine looked at costs at 140 primary gold mines and found 10 operations that would still make money even if gold halves in value from tod...Read More
Shares in US Lithium (OTCMKTS:LITH) went ballistic Friday after the exploration firm announced it had acquired a copper, nickel, cobalt project in Canada's Saskatchewan.Demand for lithium and cobalt has increased significantly in the past two years thanks to the growing production of electric and hybrid cars that use them in their batteries and other components.The Gochagar Lake project, until now...Read More
By Vikram SubhedarLONDON, Feb 24 (Reuters) - Bond market jitters spilled over into stocks on Friday, pulling European indexes lower for a third straight session, and the dollar was poised for a weekly loss as "Trumpflation" trades lost momentum.World stocks have hit record highs, emerging markets have regained favour and the dollar has climbed to a 14-year peak in recent weeks on expectations U.S....Read More
LONDON, Feb 24 (Reuters) - Commodity-related sectors led European shares lower for a third straight session on Friday while the dollar was poised for a weekly losses as the "Trumpflation trade" lost momentum.World stocks have hit record highs, emerging markets have come back in favour and the dollar has climbed to a 14-year peak in recent weeks on the back of expectations that U.S. President Donal...Read More
Investing.com - Gold prices climbed to three-month highs on Friday, as the minutes of the Federal Reserve's most recent policy meeting continued to weigh on the U.S. dollar and as policital uncertainty around the world boosted demand for safe-haven assets.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were up 0.25% at a three-month high of $1,254.55.The...Read More
A new report by SNL Metals and Mining on Corporate Exploration Strategies in 2016 shows an industry still caught in a deep downturn after four years of sharp declines.According to SNL, part of S&P Global Market Intelligence, 2016 exploration budgets at the 1,580 companies covered by the study totalled $6.9 billion, the lowest in 11 years.Source: S&P Global Market IntelligenceOther measures show...Read More
Miner and commodities trader Glencore (LON:GLEN) produced some stellar results on Thursday and the Switzerland-based company also provided a positive outlook for 2017, particularly for its base metals business.Glencore is the world's number four copper producer and top 3 zinc supplier and its clout on base metals markets is only amplified by its trading arm.Last year Glencore's metals and minera...Read More
Miner and commodities trader Glencore (LON:GLEN) became Thursday the latest company to prove the mining industry is coming back up from one of the sector's most severe downturns by posting a 48% increase in 2016 profits.A surge in commodity prices combined with Glencore's multibillion-dollar asset fire-sale not only helped it swing back to profit, but also to declare it is now better financiall...Read More
* Stocks hold near highs as markets digest Fed minutes* Policymakers see rate hike "fairly soon" but uncertainty remains* Dollar drifts down, euro, sterling bob high* Oil jumps on lower U.S. crude stocks* Copper, other metals, drop and weigh on miner shares* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Marc Jones and Nigel StephensonLONDON, Feb 23 (Reuters) - World stocks held near r...Read More
* Stocks hold near highs as markets digest Fed minutes* Policymakers see rate hike "fairly soon" but uncertainty remains* Dollar edges up but below Wednesday highs* Oil up on lower U.S. crude stocks* Copper, other metals, drop and weigh on miner shares* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Feb 23 (Reuters) - World stocks held near record highs on Thurs...Read More
Investing.com - Gold prices edged higher during European morning hours on Thursday, as investors digested the latest Federal Reserve meeting minutes.Comex gold futures rose $3.95, or about 0.3%, to $1,237.25 a troy ounce by 3:15AM ET (08:15GMT), after losing $5.60, or around 0.5%, on Wednesday. Spot gold was steady at $1,236.70 per ounce.Minutes from the Fed's latest meeting showed policymakers th...Read More
Feb 23 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of February 22, 2017. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- 20 Microns LtdBGCRISIL A4+20Reaffirmed 20 Microns LtdForeign Exchange CRISIL A4+20.8ReaffirmedForward 20 M...Read More
SHANGHAI, Feb 23 (SMM) – Nonferrous metals futures on the SHFE performed strongly today except for tin, which edged down slightly. Nickel gained some 2% while copper was up 1.6%. Aluminium went up 1.5%, and zinc and lead inched up.Ferrous metals prices rose across the board as coke jumped close to 3% and iron ore increased by over 2%. Rebar and coking coal went up close to 2% and hot-rolled...Read More
SHANGHAI, Feb 23 (SMM) – China’s metal scrap imports in January slumped to 490,000 mt, down 25.1% year on year, according to Chinese customs data. This also marked the lowest monthly level since February 2016.Copper scrap imports stood at 200,000 mt last month, down 27.5% from January 2017. Aluminium scrap imports were 190,000 mt, up 11% year on year, while steel scrap imports were dow...Read More
World's largest miner BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has already lost 41,000 tonnes of copper production due to an ongoing strike at its Econdida mine in Chile, the world's largest.According to 24 Horas (in Spanish), there seems to be no end in sight for the stoppage, which completed 14 days Wednesday, following a failed government-mediated meeting between workers and the company held on...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, is telling miners not to rest on their laurels now that the industry is finally coming back up from a brutal downturn that forced companies to cost cuts and close down operations.In a presentation at the Society for Mining, Metallurgy & Exploration's (SME) meeting 2017 this week, the Peoria, Illinois-based firm (soon to move to Chic...Read More
What a difference a year has made for Anglo American (LON:AAL), the world's number five diversified miner, which joined BHP Billiton Tuesday in lifting the mining industry spirits by postings results that clearly signal the long-awaited recovery is already here.Only a year ago the company unveiled details of a radical "portfolio restructuring," which included the sale of its coal, iron ore, man...Read More
* Global stocks hit record high, Wall St seen opening lower* Markets await Fed minutes for rate hike clues* Sterling dips vs dollar after 2016 GDP growth revised down* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Feb 22 (Reuters) - Global stocks hit record highs on Wednesday, topping 2016's gains just two months into 2017, while the dollar rose before Federal...Read More
Investing.com - Gold prices edged lower during European morning hours on Wednesday, as market players looked ahead to the minutes of the Federal Reserve's latest policy meeting for further hints on the timing and pace of future rate hikes.U.S. gold futures shed $3.65, or about 0.3%, to $1,235.35 a troy ounce by 3:05AM ET (08:05GMT), after ending Tuesday's session little changed. Spot gold was down...Read More