Camino Minerals (TSXV: COR) announced this week that it is in the process of completing an extensive surface exploration program on the 20,000-hectare Chapitos copper-gold project in southern Peru.Chapitos is located in the Arequipa province, near the Chala mining hub. This is the Peruvian Iron Oxide Copper Gold belt, which also hosts Minsur's Mina Justa, an open-pit deposit whose output is of 90,...Read More
MUMBAI, Nov 22 (Reuters) - The Indian rupee rose to its highest in almost 12 weeks on Thursday as global oil prices eased further.The rupee INR=D4 strengthened past the psychological 71-to-the-dollar mark, climbing to as much as 70.9175, the highest since Sept. 3 and compared to its previous close of 71.46 on Tuesday. It was trading at 70.93 to the dollar at 1033 GMT.The foreign exchange market wa...Read More
* Trump puts pressure on Saudi Arabia to keep prices down* OPEC to meet on Dec. 6 to discuss supply policy* U.S. drilling, output and storage: https://tmsnrt.rs/2QaaY8q (Adds WTI settle, Brent last trade)By Julia PayneLONDON, Nov 22 (Reuters) - Oil prices dipped on Thursday after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC ta...Read More
* NSE ends 0.7 pct down, BSE 0.6 pct lower* Both indexes post first weekly fall in four weeks* Markets shut on Friday for public holidayNov 22 (Reuters) - Indian shares erased early gains to end lower on Thursday due to broad-based losses across the sectors, with automaker Mahindra and Mahindra Ltd MAHM.NS being the top loser on both the indexes.The broader NSE index .NSEI closed 0.69 percent lowe...Read More
* STOXX 600 down 0.7 pct* Mining stocks tumble 1.6 pct* Italian bank stocks fall just 0.2 pct(Updates prices, adds details, quotes, graphics)By Danilo Masoni and Helen ReidMILAN/LONDON, Nov 22 (Reuters) - European shares resumed their downward trend on Thursday, hit by disappointing earnings updates and falling mining stocks, while the Thanksgiving holiday in the United States kept volumes thin.Th...Read More
* European shares slip as miners, banks and tech stocks falter Pound jumps as London and EU agree key Brexit text* Oil gives up early gains but still well off lows* Dollar slips in Thanksgiving void, rand jumps after rate hike Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Nov 22 (Reuters) - Europe's share markets fell back into the red on Thursday, as investor worrie...Read More
Investing.com - Gold prices were little changed on Thursday, consolidating the prior session’s gains in holiday-thinned trade. At 8:24 AM ET (13:24 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $1.00, or 0.08%, to $1,229.00 a troy ounce.Trading was expected to remain muted until Monday due to Thursday's Thanksgiving holiday in the U...Read More
The major silver miners' stocks have been largely abandoned this year, spiraling to brutal multi-year lows. Such miserable technicals have exacerbated the extreme bearishness plaguing this tiny contrarian sector. While profitable silver mining is challenging at today's exceedingly-low silver prices, these miners are chugging along. Their recently-reported Q3'18 results show their earnings ar...Read More
This week, an in-depth article featuring prominent mining executive and Chairman of the Augusta Group of Companies, Richard Warke. Featuring commentary from Barrick Gold Corp.'s Kevin Thomson and Ross Beaty, the article details Richard Warke's rise in the resource industry, from his sale of Arizona Mining Inc. this summer to his breakout sale of Ventana Gold in 2011 to Eike Batista.Read the full...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftMahenge 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 mineralsMining Journal caught up with SolGold CEO (and major shareholder) Nick Mather in London this week following...Read More
Copper output in Democratic Republic of Congo rose 8.7 percent year on year through the first nine months of 2018 to 908,695 tonnes while cobalt production jumped 92.5 percent to 115,116 tonnes, the central bank said on Thursday.Congo is Africa's top copper producer and the world's leading miner of cobalt, which is a key component in electric vehicles and other electronic products.Gold production...Read More
SolGold's coveted Ecuadorian copper-gold prospect may be 20 percent bigger than the mining group said earlier this week, its chief executive Nick Mather said on Thursday.SolGold, in which Mather has a near 5 percent stake, said on Tuesday that its Alpala project in Ecuador's Cascabel region was around double the size and grade quality it was known to be in December 2017."We think there's still 20...Read More
Saudi Arabia's King Salman on Thursday inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's gross domestic product by 24 billion riyals ($6.4 billion) and its non-oil GDP by around 3 percent.The kingdom will invest 85 billion riyals in the project, a 440-square-km (150-square-mile) city for mining industries in the northern region, the Ministry of Energy, Indust...Read More
Copper supply has surprised this year, but not in the way everyone expected.It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike, and possibly more.In the event there was none.By copper's standards it has been a remarkably smooth year for mine production, leaving analysts struggling to fill the cus...Read More
South Africa's Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) has halted all its gold mining operations in the country after violence broke out overnight during a strike by workers demanding higher wages.Operations at the Driefontein, Kloof and Beatrix mines, major sources of revenue for the precious metals miner, were suspended late on Wednesday due to increasing levels of brutality and intimidation,...Read More
* U.S. crude stocks rise more than expected -EIA* Fearing a glut, OPEC pushes for supply curb* Trump praises Saudi Arabia for helping to lower oil prices (New throughout, updates prices, market activity and comments to settlement)By Stephanie KellyNEW YORK, Nov 21 (Reuters) - Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government d...Read More
* NSE index down 0.53, BSE index down 0.77 pct* Nifty IT index end 2.8 pct lowerNov 21 (Reuters) - Indian shares ended lower on Wednesday in line with broader Asian markets, weighed down by a renewed bout of selling on Wall Street overnight that mounted uncertainty about global economic growth.The broader NSE index .NSEI closed 0.53 percent lower at 10,600.05, while the benchmark BSE index .BSESN...Read More
Investing.com - U.S. crude oil inventories rose more than expected last week, paring earlier price gains as the larger-than-forecast build reinforced concerns of oversupply.The EIA data showed that crude oil inventories increased by 4.85 million barrels in the week to Nov. 16.That was compared to forecasts for a stockpile build of 2.50 million barrels, after a build of 10.27 million barrels in the...Read More
By Daniel CookPart 2: It's Only Natural...Every mining company has the same problem, they've got to replenish their inventory every year. That means if they're mining 100,000 ounces of gold annually they need to discover at least 100,000 ounces every year to stay afloat. Analysts and investors demand it and watch these inventory levels closely.Did you know SSR Mining's most profitable operation co...Read More
This translated to full diluted earnings per share of €0.022 per share, down from €0.023/share a year ago.Profits after tax for the January-September period almost doubled to €27.6 million, up from €14.5 million a year ago, with fully diluted earnings for the period at €0.20/share, up from €0.12/share a year ago.The copper miner reported quarterly revenues of €42...Read More