LONDON - Is it a ceasefire, a truce or the opening to a lasting peace deal?The jury is very much out on exactly what Presidents Donald Trump and Xi Jinping agreed during their talks at the G20 summit in Buenos Aires. But for industrial metals it's enough.The London Metal Exchange (LME) suite of base metals is today enjoying a relief rally after weeks of bludgeoning from bearish funds.Speculators h...Read More
Shares in Canada's Nautilus Minerals (TSX:NUS), one of the world's first seafloor miners, climbed more than 10% on Monday as the company disclosed is negotiating the terms of an agreement with arm's length third parties that would involve the creation of a joint venture company.The purpose of the new firm, Nautilus said, would be to fund the acquisition of the Production Support Vessel (PSV) that...Read More
KINSHASA - Congo's Gecamines said on Monday it had signed a production-sharing deal for copper and cobalt deposits with HongKong Excellen Mining, which will pay a $40 million signing bonus.Democratic Republic of Congo is Africa's top copper producer and the leading miner of cobalt, which is used for electric car batteries, but remains one of the world's poorest countries.Congo's state mining compa...Read More
North Vancouver/Stockholm-based Boreal Metals (TSXV:BMX) announced today it has completed seven diamond drill holes totalling 951 metres of exploratory diamond drill program at its Burfjord copper-gold project in Norway. In a press release, the miner said that assay results are expected in the coming weeks. The Burfjord project is comprised of six exploration licenses totaling 5,500 hectares near...Read More
Miner and commodities trader Glencore (LON:GLEN) is letting go its head of copper trading, Telis Mistakidis, by the end of this year, as the executive has recently been under increased scrutiny following a string of investigations, problems and legal headaches in the Democratic Republic of Congo.The 56-year-old, known to everyone simply as "Telis" is one of the world's most powerful commoditie...Read More
Investing.com - In the week ahead, oil traders will focus on the highly-anticipated Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna on Thursday and Friday.Most market analysts expect that major producers, led by Saudi Arabia and Russia, would agree some form of production cut in an effort to stave off a global glut in supplies and prop up prices.OPEC's advisory committee sug...Read More
* WTI crude futures up more than 3 pct after 90-day truce sealed* OPEC expected to agree supply cut this week* Cuts would be aimed at reining in emerging oversupply* U.S. crude output at record levels, above 11.5 mln bpdBy Henning GloysteinSINGAPORE, Dec 3 (Reuters) - Oil prices surged in early trading on Monday after the United States and China agreed a truce in their trade conflict and ahead of...Read More
* S&P 500, Nasdaq post big weekly gains on Fed dovishness* Europe lower, DAX stock index heads for fourth month of losses* Negative Trump-Xi meeting outcome could spark volatility* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Adds Wall Street close, updates throughout)By Hilary RussNEW YORK, Nov 30 (Reuters) - Oil prices retreated on Friday amid a global glut, racking up a 20 perc...Read More
Investing.com - This week precious metals traders will be monitoring trade developments after the U.S. and China agreed to a ceasefire in their trade war, while awaiting fresh indications on the direction of U.S. monetary and an update on the health of the U.S. labor market.The U.S. agreed not to increase the 10% tariffs on $200 billion worth of Chinese imports on Jan. 1 following talks between U....Read More
December 3, 2018The junior gold miners' stocks have spent recent months mostly languishing near major multi-year lows. That spawned a sentiment wasteland riddled by bearishness and bereft of bids. But these companies' battered stock prices aren't fundamentally righteous, as proven yet again by their latest earnings season. Faring far better in a challenging third quarter than stock prices im...Read More
December 3, 2018Recent market and economic developments are positive for Gold and precious metals but conditions are not bullish yet.Bullish conditions and bullish fundamentals would be highlighted by a shift in Fed policy. They aren't shifting yet. They are slowing, which precedes a shift.From a market standpoint, we need to see strength in Gold in real terms (against stocks and foreign currencie...Read More
Mahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsDealing with the complexity of Coal data with Geobank 2018SPONSOREDmicromineThe company says it expects to produce first copper from the in-situ recovery project in Arizona next year."With the...Read More
The first, and most obvious, is that China's appetite appears to have largely been satisfied with the country's economy slowly switching from heavy manufacturing to an increased focus on servi...Read More
Chile's state copper miner Codelco said on Saturday it had reached agreement on a new collective labor contract with the union of workers at its Ministro Hales mine in northern Chile.The 36-month contract, which includes a signing bonus of 7 million pesos ($10,423) and a boost to salaries of 1.2 percent, was approved by 53 percent of the union, Codelco said in a statement.Ministro Hales produced a...Read More
Former workers associated with the National Union of Mine, Metal, Steel and Allied Workers of the Mexican Republic, known as Los Mineros Union, gave the new president Andr?(C)s Manuel L??pez Obrador 15 days following his inauguration to address a conflict with Grupo Mexico that started in the late 2000s.According to local media, following a request made by the new Interior Minister Olga S??nchez C...Read More
Dec 1 (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. -----------------------------------------------------------SATURDAY, DEC...Read More
NEW DELHI, Dec 1 (Reuters) - India has approved the acquisition of defence equipment worth about 30 billion rupees ($431 million), the government said in a statement on Saturday.The Defence Acquisition Council approved the procurement of supersonic cruise missile BrahMos for two Indian navy ships, which it said will form the primary weapon on-board the ships.The government also approved procuremen...Read More
* India asks Ethiopia to help IL&FS employees held hostage* Seven IL&FS employees were held by local Ethiopian staff* Indian firm has not paid salaries, employees say (Adds comment from Indian company IL&FS)By Aditya KalraNEW DELHI, Dec 1 (Reuters) - Employees of Indian company Infrastructure Leasing & Financial Services (IL&FS) taken hostage by local staff in Ethiopia say they...Read More
The Peruvian Ministry of Energy and Mines' latest statistical report reveals that, in the 10th month of the year, the country's gold output fell by 6.3% when compared to October of 2017. This, despite the fact that Minera Yanacocha, which is the main producer of the yellow metal, grew its output by 8.1%.Copper production, on the other hand, fell by 3.8% in October when compared to the previous yea...Read More
MUMBAI, Nov 30 (Reuters) - The Securities and Exchange Board of India (SEBI) allowed exchanges to start commodity trading an hour earlier to increase participation of different stakeholders, the market regulator said in a statement on Friday.The commodity markets can open at 9 a.m. local time (0330 GMT), instead of 10 a.m. now, the market regulator said.The closing time for agriculture commodities...Read More