Investing.com - Gold prices were modestly higher in European trade on Monday, starting the week off with small gains as investors continued to assess the impact of the latest bout of U.S. political turmoil.Comex gold futures added $1.30, or about 0.1%, to $1,254.92 a troy ounce by 3:55AM ET (07:55GMT). Meanwhile, spot gold was at $1,255.33.Prices of the yellow metal rose to $1,263.20 last Thursday...Read More
April saw 121 financings close in the Canadian financial markets for C$522.7 million including 55 financings for gold totalling $207.3 million, some 40% of the April total. The top 10 gold financings totalled $167.5 million representing 81% of the total indicating that bulk of funds raised for gold projects are concentrated in a relatively small number of deals.#1 Bluestone Resources C80 millionBl...Read More
Investing.com - Gold prices were higher on Friday and notched the largest weekly gain since mid-April as political uncertainty surrounding the Trump administration pressured the dollar lower, boosting demand for the precious metal.Gold for June delivery closed up 0.18% at $1,255.07 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 2.06%.The dollar c...Read More
* Dollar posts biggest weekly fall since Feb 2015* Best week of 2017 for Brent; WTI up 5 pct* Stocks rally on Wall St but end down for the week (Updates to U.S. market close)By Rodrigo CamposNEW YORK, May 19 (Reuters) - The U.S. dollar fell on Friday and was set to close its worst week in more than a year, with losses steepening after reports an investigation into possible collusion between Russia...Read More
Zinc was the best performing commodity on Friday with LME prices ending at $2,616 a tonne ($1.19 a pound), a 3.3% jump on the day, outperforming sector bellwether copper's 2% gain.After today's move zinc is once again in positive territory for 2017, building on a 60% gain last year on the back of dwindling supply and strong demand from the global automotive sector.Donald Lindsay CEO of Teck Resour...Read More
Democratic Republic of Congo's legislators are set to review next week a long-delayed revision to the mining code, which is said to be crucial for the country, as the nation needs the higher revenues a revised legislation would generate.The country's government abandoned plans to change the mining code in February last year, on fears the move would have driven away investors at a time of historica...Read More
The average gold market investor should be quite happy right now. If that's not the case, the investor has likely used price projection analysis as a reason to chase price, and needs to deploy a new set of market tactics.1. The average gold market investor should be quite happy right now. If that's not the case, the investor has likely used price projection analysis as a reason to "chase price", a...Read More
May 19 (Reuters) - Hindustan Copper Ltd HCPR.NS* Hindustan copper - capacity of proposed plant to make copper cathode from sulphide copper concentrate is 100,000 tonne/annum at estimated cost of INR 302.5 million* Says company has initiated process to obtain investment approval from ccea, government. Of india Source text - Further company coverage: HCPR.NSRead More
Even though management announced in April that its iron ore shipments from the Pilbara region were down 13% in the last quarter, Rio Tinto (ASX, LON:RIO) sent out a press release today stating that it will reduce the payment terms for smaller suppliers to 30 days in a bid to improve cash flow for those businesses.The change will be effective as of July 1, 2017, and will apply to more than 5,500 Au...Read More
An NGO based in the southern Bol?-var state is calling the Venezuelan government to kill the 2016 decree that creates the Mining Arch of the Orinoco River National Development Strategic Zone. This is a 111,843 Sq.Km concession area for mining gold, diamond, iron, copper, bauxite, coltan, among other resources, that has caught the attention of some 150 companies from 35 countries.According to the O...Read More
While Beijing's One Belt, One Road initiative is much grander in scale, the controversial infrastructure program to create a Eurasian trading route is already running into trouble.In contrast, the success of Chinese President Xi Jinping's other grand project is almost a certainty.On April 1, Xi announced a state-level plan to transform a backwater called Xiongan, located 110km south of Beijing and...Read More
Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") reports that its wholly-owned subsidiary, Alaska-based Pebble Limited Partnership ("Pebble Partnership" or "PLP") announced today it has received commitments from five prominent Alaskan and national figures to serve as founding members of an Advisory Committee formed to provide independent, external advi...Read More
Junior mining investor enthusiasts will be duelling it out for the big money when the next contest by Stockpools and Kitco is launched the first week of June. Announced May 3-4 at the Mines and Money conference in New York, the 2017 Minerals Market Challenge is offering participants the chance to win CAD$16,000 worth of gold bullion. Stockpools and Kitco are upping the ante from their 2017 Precio...Read More
Trevali Mining's (TSX:TV) shareholders approved Thursday a planned acquisition of Glencore's two African zinc mines, in a transaction that makes of the Canadian miner one of the few multi-asset, low-cost global zinc producers.The acquisition of about 80% of Rosh Pinah mine in Namibia and a 90% stake in in the Perkoa mine in Burkina Faso, will help the Vancouver-based firm's total production double...Read More
Canada's First Quantum Minerals (TSE:FM) is just a few months away from commissioning its massive $5.48 billion copper project in Panama, one of the largest of very few new red metal mines to begin production by the end of the decade.The company, which gained control over the Cobre Panama project in 2013 with the acquisition of rival Canadian copper miner Inmet Mining, said Thursday the open-pi...Read More
Investing.com - Gold prices were a bit lower in European trade on Thursday, but stayed near the highest level in two weeks as investors kept an eye on fresh political developments in the U.S. amid uncertainty over the future of President Donald Trump.Comex gold futures shed around $3.00, or about 0.3%, to $1,255.29 a troy ounce by 3:00AM ET (07:00GMT). Meanwhile, spot gold was at $1,255.51. Prices...Read More
Foreign investors are likely to flee Colombia's mining sector in the coming months as the country is failing to protect the interest of global companies operating and exploring in the country, the local mining association warns.According to Roberto Junguito, president of the board of governors at the Colombian Mining Association (ACM), the country needs to set clear rules for the industry and pri...Read More
According to the most recently released data from Chile's Ministry of Mining, the country's silver production declined a stunning 26% in the first quarter of 2017. This is a big deal as Chile is the fourth largest silver producing country in the world. The majority of Chile's silver production comes as a by-product of copper production.Chile is the largest copper producer in the world, by a lo...Read More
LUSAKA, May 17 (Reuters) - Zambia is close to reaching an agreement with mining companies over its plans to increase electricity prices, Finance Minister Felix Mutati said on Wednesday.The government last month proposed introducing a flat tariff of 9.30 U.S. cents/kilowatt hour (kWh) backdated to January for mining companies, instead of individually negotiated rates that have averaged 6 U.S. cents...Read More
Investing.com - Gold prices gained in European trade on Wednesday, touching the highest level in two weeks as traders kept an eye on fresh political developments in the U.S. after President Donald Trump allegedly asked the FBI to end a probe into his former security adviser.Comex gold futures rose around $7.00, or about 0.6%, to $1,243.61 a troy ounce by 3:00AM ET (07:00GMT). Meanwhile, spot gold...Read More