NEW DELHI, Nov 30 (Reuters) - India's economy grew a lower-than-expected 7.1 percent in the July-September quarter from a more than two-year high of 8.2 percent in the previous quarter, government data showed on Friday.The latest quarter's annual pace of growth was lower than a Reuters poll forecast of 7.4 percent.India's $2.6 trillion economy, Asia's third largest, grew 6.3 percent in the July-Se...Read More
(Corrects change in week to unchanged for Brent and an increase for U.S. crude from a drop for both.)* OPEC, Russia expected to agree supply cuts next week* Top three oil producers to attend G20 meeting this weekend* U.S. crude stocks build for 10 straight weeks amid record output* OPEC oil output falls by 160,000 bpd in Nov. - Reuters survey* Glut pushes crude into contango: https://tmsnrt.rs/2Q7...Read More
Investing.com - Gold prices were lower on Friday as investors moved away from the bullion amid expectations of another interest rate hike this year, while the G20 summit in Argentina was also in focus.Comex gold futures for February delivery slipped 0.16% to $1,228.40 a troy ounce as of 4:54 AM ET (9:54 GMT).Fed meeting minutes released on Thursday showed the central bank is expecting to hike inte...Read More
Excelsior Mining (TSX: MIN) (OTCQX: EXMGF) has closed a $75 million project financing package with Triple Flag Mining Finance Bermuda for $65 million copper metal stream and $10 million private placement of common shares of Excelsior.With the financing, Excelsior will start construction activities at the Arizona Gunnison copper project before the end of the year, the company announced in a press r...Read More
Despite its best efforts, the "most likely scenario" is that mining operations will cease in Flin Flon, Manitoba in 2021, an internal memo to employees at Hudbay Minerals (TSX: HBM; NYSE: HBM) reads.While the company has been successful over the last few years in extending the life of its 777 mine from 2019 to 2021, the memo noted, its efforts to find new sources of ore from 777, "did not turn out...Read More
Spot prices for lithium could be pushed down in the early 2020s despite increasing demand from electric vehicle (EV) batteries makers, a new report from Moody's Investor Services warns.The analysts came to this conclusion after carrying out a mine-by-mine analysis projecting lithium supply build-up to 2025 based on company statements, including potential risks.Effects of spot price weakness result...Read More
* Russia accepts need for cuts, bargains with Saudi -sources* Optimism on trade talks ahead of G20 meeting* U.S. inventories rise for 10th straight week* U.S. crude reserves hit record highs in 2017 -EIA (Adds settlement prices)By Jessica Resnick-AultNEW YORK, Nov 29 (Reuters) - Oil reversed course and rose as much as 2 percent on Thursday, after industry sources said Russia had accepted the need...Read More
Nov 29 (Reuters) - The Indian rupee rose to a three-month high against the dollar on Thursday while bond yields were at their lowest levels since early May as most Asian markets rallied following the U.S. Federal Reserve's comments, helping boost appetite for riskier assets.Fed Chair Jerome Powell said the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy econo...Read More
(Repeats item first published on Wednesday with no changes to text)* BJP faces major challenges in retaining 3 Hindi-speaking states* Party won 95 percent of seats in the states in 2014 election* BJP could lose Madhya Pradesh, state it has ruled for 15 years* Modi's chances of retaining power hurt if BJP loses the 3 states* Big BJP losses could lead to sell-off in financial marketsBy Rajendra Jadh...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.8 pct; Midcaps up 0.6 pct* Intu sinks after consortium abandons bid, sends shivers through property sector* Investors mourn UK funeral sector probe; Dignity sinksBy Josephine MasonLONDON, Nov 29 (Reuters) - UK shares jumped almost 1 percent on Thursday as Wall Street's rally spread across Europe after the Fed...Read More
* NSE index up 0.9 pct, BSE index up 1 pct* Hindalco Industries top gainer* Yes Bank hits over 2-1/2-yr low on debt downgradeBy Krishna V KurupNov 29 (Reuters) - Indian shares rose 1 percent on Thursday, tracking broader Asian markets that rallied after the U.S. Federal Reserve chairman's comments were interpreted as a dovish shift, and ahead of the expiry of futures and options contracts late...Read More
I continue to receive questions regarding the direction of the market, to which I can only reply "I don't know." I certainly have thoughts about the factors affecting metals markets, but am not under the illusion that I KNOW where the market is headed.What I do know is that my money is best invested, in tranches, in the best companies in the sector. The best companies are led by the best managemen...Read More
November 30, 2018GOLD:Short Term Update:What a day! This is incredible! We called it with our wave counts, and now it's really happening as the Fed may have just blinked!Within wave .iii. we are now working on our first impulsive sequence, as shown on our "Daily Gold Chart".Within that first impulsive sequence we believe that we are working on a subdividing wave $iii$. Within wave $iii$, wav...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe surprise was not in the results themselves from the four-hole program at the unnamed discovery, assumed to be the historic Oak Dam West anomaly.The surprise was that BHP announced t...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe Toronto-based miner expects to produce more copper over this period than previously expected on the back of refined mine sequencing at Candelaria, in Chile, and an expected early completion of the Eagle East project, in the US.The 2019 copper guidance is expected to range between 199,000 metric tonnes 218,000t in 2019, rising t...Read More
* Japan's Mitsubishi Materials on Thursday said that its Indonesia copper smelting unit, PT Smelting, has declared force majeure on deliveries of products to some customers as maintenance at its plant in the country had been extended.* The smelter on Oct. 31 went into maintenance that was scheduled for about 30 days, but that has been extended due to a lack of oxygen supply from a neighboring oxyg...Read More
Democratic Republic of Congo's state mining company blamed international investors and anti-corruption activists for the country's lack of progress despite its vast mineral wealth.Non-governmental organizations including the Atlanta-based Carter Center and London-based Global Witness have accused Gecamines of failing to account for hundreds of millions of dollars paid to the state miner by the com...Read More
JAKARTA, Nov 29 (Reuters) - Indonesian President Joko Widodo called on Thursday for an "immediate" end to issues holding up the country's plans to acquire a majority stake in Freeport-McMoRan Inc's giant Grasberg copper mine in Papua.For Widodo, seeking reelection next year, getting a majority stake in the mine for Indonesia would be a political boon.The deal, which would give Indonesia and state-...Read More
BRITISH COLUMBIA - Dunnedin Ventures of Vancouver is spreading its wings. Earlier this week, the company updated readers on its exploration program at the Kahuna kimberlite. Now the company announced that it has acquired a 100% interest in a copper-gold porphyry property near Princeton.Dunnedin acquired the new property from private vendor who will receive $100,00 and 1.8 million Dunnedin shares...Read More
SANTIAGO, Nov 29 (Reuters) - Chile's Codelco, the world's largest copper producer, said on Thursday that mine output fell 3 percent in the first nine months of the year as ore grades sharply declined, leading to a 12 percent drop in pretax profit.The state-run copper miner earned $1.42 billion pretax between January and September as production costs jumped 5 percent to $1.39 from the year-ago peri...Read More