Russia's Norilsk Nickel is suing the government of Botswana in an attempt to recover about $271 million it lost when a state-backed mining company walked away from a deal to buy its stake in a South African mine last year.Move comes as Botswana's state-run BCL Group pulled out a deal to acquire 50% of Norilsk's Nkomati nickel mine, in South Africa.In 2014, Botswana's state-run BCL Group agreed to...Read More
BHP Billiton (ASX:BHP) (LON:BLT) is holding talks with "several" potential buyers for its Cerro Colorado mine, one of its smaller Chilean copper operations, which the mining giant put on the chopping block in February, the head of the union said.According to leader Marcelo Franco, the company has officially informed workers of its plans to offload the mine, located in the country's copper-rich n...Read More
Investing.com - Gold prices held steady on Friday, as global geopolitical tensions reignited some safe-haven demand, although investors were still eyeing the release of U.S. economic reports later in the day.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were little changed at $1,266.36.The June contract ended Thursday's session 0.13% higher at $1,265.90...Read More
(Adds company news, futures)April 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 1 point at 7,238 on Friday, according to financial bookmakers, with futures FFIc1 up 0.10 percent ahead of the cash market open.* HASTINGS: British insurer Hastings Group Plc HSTG.L reported on Friday a 26 percent rise in first-quarter gross written premiums, boosted by a growth in the number of poli...Read More
April 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 1 point at 7,238 on Friday, according to financial bookmakers.* BARCLAYS: British bank Barclays Plc BARC.L faces shareholder revolt over whistleblower inquiry after a corporate governance firm advised shareholders not to back his re-election to the board, The Times reported on Friday. BP: BP Plc BP.L was restoring productio...Read More
Apr 28 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd (India Ratings), formerly known as Fitch Ratings India for local debt instruments as of April 27, 2017. COMPANYINSTRUMENTRATINGAMOUNTMOVEMENT(RS.MLN) ------------------------------------- SHORT TERM RATINGS: ------------------- Jubilant Enpro Pvt LtdNon-FB WC facilityIND A340Affirmed Kaveri Engineering Proje...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
The Philippines has toughened up its already hard-core stance on mining by banning open-pit mining in the country to allegedly reduce the environmental damage caused by the industry.Natural Resources Secretary Regina Lopez, a well-known environmentalist, said her decision aimed to preserve the "economic potential" of the country, as she believes open pits are "a financial liability for government...Read More
Investing.com - Gold prices were little changed in European trading on Thursday, holding near the prior session's two-week low as investors digested U.S. President Donald Trump's outline for tax reform.Comex gold futures tacked on $1.30, or around 0.1%, to $1,265.40 a troy ounce by 3:05AM ET (07:05GMT), pulling back after rising to an overnight high of $1,271.10. Meanwhile, spot gold was at $1,264...Read More
Industrial metals prices are projected to jump 16% this year due to strong demand, especially from China, and supply constraints, including mine disruptions in Chile, Indonesia and Peru, the World Bank says in its commodities markets outlook published on Wednesday.Researchers at the institution believe zinc has the brightest prospects this year and will follow up 2016's 60% price gain with a 32% j...Read More
Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management's call earlier this month for an overhaul of the firm.The company, which last year logged its largest-ever write-down precisely on its US shale assets...Read More
By Yuka Obayashi, Jane Chung and Fergus JensenTOKYO/SEOUL/JAKARTA, April 26 (Reuters) - Freeport McMoRan Inc FCX.N is preparing three copper concentrate export shipments from its giant Grasberg mine in Indonesia after a 15-week outage, sources with direct knowledge of the matter said.Freeport is ramping up output and copper shipments from Grasberg, the world's second-biggest copper mine, after obt...Read More
Investing.com - Gold prices were lower in European trading on Wednesday, edging down for the third straight session as investor sentiment remained skewed toward riskier assets amid optimism surrounding an expected tax reform announcement from U.S. President Donald Trump's administration later in the day.Comex gold futures shed $2.60, or around 0.2%, to $1,264.65 a troy ounce by 3:00AM ET (07:00GMT...Read More
(Adds company news, futures)April 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 2 points on Wednesday, according to financial bookmakers, with futures FFIc1 down 0.05 percent ahead of the cash market open.* LONDON STOCK EXCHANGE GROUP: London Stock Exchange Group LSE.L reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly, and said it is...Read More
April 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 2 points on Wednesday, according to financial bookmakers.* BHP: BHP Billiton BHP.AX , BLT.L on Wednesday trimmed its full-year production guidance for iron ore, coking coal and copper due to bad weather at mines in Australia and industrial action in Chile over the last quarter. ROYAL BANK: British Bank Royal Bank of Scotland...Read More
Description This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved. For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making. Our analysts are based in the markets they analyse and work with...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's second largest copper producer, raced out of the gate on Tuesday after the company released first quarter results that showed less damage from problems at its Indonesian operations than previously anticipated.In heavy trade of more than 29m shares by lunchtime Freeport jumped by as much 9.3% affording the counter a $18.98 billion market value...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT) jumped Tuesday as it reported a first quarter profit that far exceeded estimates thanks to a long-awaited pick up in sales and improved demand.For the first time in more than two years, the Peoria, Illinois-based company registered an increase in sales in several of the industries it serves, which boosted its revenue and profit...Read More
* STOXX 600 hits 20 month high* AMS jumps after results* Dior up after buyout deal (Adds detail and quotes, updates prices)By Kit ReesLONDON, April 25 (Reuters) - Deal-making and earnings underpinned European stock markets on Tuesday as the focus shifted back to fundamentals and away from politics, for now, with the pan-European STOXX 600 .STOXX index scoring its fifth straight session of gains.Th...Read More
* European shares add to Monday gains, Asia bourses rise* Euro up but off Monday highs, yen retreats* German/French yield gap tightens as politucal risk seen lower* Markets await Trump tax announcement on Wednesday* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, April 25 (Reuters) - World stocks hit record highs on Tuesday, with investors' relief at centrist Emm...Read More