An undeniable and ongoing rebound in commodity prices could take global mining spending in exploration up to as much as $21 billion by 2025, a level of funding last seen in 2012 according to S&P Global Market Intelligence, but which is necessary to sustain the industry's growth.While prognosticating that far into the future can inevitably lead to inaccuracies, Stan Wholley, President for the Ameri...Read More
* Formal Brexit process begins* Sterling under pressure* Stocks regain footingBy Jamie McGeeverLONDON, March 29 (Reuters) - European shares rose on Wednesday, following Wall Street's late surge, while sterling was the biggest loser on major currency markets ahead of the formal triggering of Britain's exit process from the European Union later in the day.Prime Minister Theresa May will notify EU Co...Read More
LONDON, March 29 (Reuters) - European shares edged higher on Wednesday as Britain was set to formally trigger divorce proceedings with the European Union it joined in 1973.The pan-European STOXX 600 index .STOXX was 0.2 percent higher by 0820 GMT, with modest gains driven by broker upgrades and results.Markets were muted as investors awaited details on the two parties' negotiating positions ahead...Read More
Investing.com - Gold prices edged lower during European morning hours on Wednesday, pulling further away from its strongest level in a month as investors braced for formal Brexit procedures to be triggered by the U.K. government later in the day.British Prime Minister Theresa May is set to trigger Article 50 of the Lisbon Treaty later on Wednesday, formally beginning the two-year process of exitin...Read More
(Adds company news items, futures)March 29 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 24 points on Wednesday as Britain submits formal notice of its intention to leave the European Union, according to financial bookmakers, with futures FFIc1 up 0.4 percent ahead of the cash market open.* SAGA: British over-50s travel and insurance company Saga Plc SAGAG.L reported a 5.6 percen...Read More
March 29 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 24 points on Wednesday as Britain submits formal notice of its intention to leave the European Union, according to financial bookmakers.* TESCO: Tesco TSCO.L , Britain's biggest retailer, remains committed to its agreed 3.7 billion pound ($4.7 billion) takeover of wholesaler Booker BOK.L despite opposition from some big share...Read More
Rio Tinto (LON:RIO) may become the sole owner of Pistol Bay Mining's. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, sooner than originally planned, as it has decided to pay the junior miner $750,000 before April 17.Rio will effectively hold a 100% stake in the uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2....Read More
Canada's Barrick (TSX, NYSE:ABX) and Goldcorp (TSX:G) (NYSE:GG), the world's No.1 and No.3 producers of the precious metal by value, are teaming up to develop projects in northern Chile, particularly Cerro Casale, one of the world's largest gold-copper deposits.As part of the agreement, Barrick has sold a 25% stake in Cerro Casale to Goldcorp, which will result in a 50-50 joint venture focused on...Read More
Investing.com - Gold prices edged lower during European morning hours on Tuesday, pulling back from its strongest level in a month as the dollar and global equities recovered from recent losses.Comex gold futures dipped $4.20, or around 0.3%, to $1,251.50 a troy ounce by 3:05AM ET (07:05GMT). Meanwhile, spot gold was down $2.75 at $1,251.80.The yellow metal settled higher for the second session in...Read More
Karina Bri??o, President and CEOVANCOUVER, British Columbia, March 27, 2017 (GLOBE NEWSWIRE) - The Mining Association of British Columbia ("MABC" or the "Association") announces that Karina Bri??o, President and CEO, has decided to advance to a new chapter in her life and will be taking on a challenging new industry assignment in her native Chile in early May 2017."On behalf of the Board of Direct...Read More
* White House failure on healthcare raises worries over tax reform* Dollar falls to lowest since Nov. 11* Risk-off mood drives stocks, commodities lower* Safe havens such as gold, bonds, yen gain* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Jemima KellyLONDON, March 27 (Reuters) - The dollar and share prices tumbled on Monday, as investors worried that U.S. President Donald Trump's...Read More
Investing.com - Gold prices rallied to a four-week high during European morning hours on Monday, as growing doubts about U.S. President Donald Trump's pro-growth economic agenda prompted investors to dump risky assets and rush to safe havens.Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It was last at $1,257.75 by 3:20AM ET (07:20GMT), up $9.20...Read More
(Adds company news items, futures)March 27 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 17 points at 7,294 on Monday, according to financial bookmakers, with futures FFIc1 down 0.7 percent ahead of the cash market open.* AstraZeneca: AstraZeneca AZN.L said on Monday it had won approval for its lung cancer pill Tagrisso in China, a key market for the potential blockbuster medicin...Read More
March 27 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 17 points at 7,294 on Monday, according to financial bookmakers.* SHELL: Royal Dutch Shell Plc RDSa.L and Anadarko Petroleum Corp (NYSE:APC) APC.N may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive. BT:...Read More
Investing.com - Gold prices retraced gains late Friday but still notched up a second weekly rise as concerns over the Trump administration's ability to push through its pro-growth economic agenda underpinned safe haven demand.Gold for April delivery settled down 0.34% at $1,243.00 on the Comex division of the New York Mercantile Exchange, off session highs of $1,251.85.Gold touched its highest sin...Read More
Goldcorp's Cerro Negro Mine in southern Argentine. Miners inside the Eureka vein Photo courtesy Goldcorp Inc.The old adage "Mines are made not found" is a good start to "How to Build a Mine". There are thousands of mineral discoveries with very few that reach the positive feasibility stage and fewer yet where a profitable mine is actually built. There are three key components to building a mine, s...Read More
Diamond drill core from the Freegold Ventures Shorty Creek Project in Alaska. Note the massive chalcopyrite (copper) mineralization. Photo courtesy Freegold Ventures LtdThe most exciting news from a mining exploration stock is a high-grade drilling result. But what constitutes a good assay? It varies from situation to situation and commodity to commodity. Listed below is some rule of thumb informa...Read More
Canada's Nautilus Minerals (TSX:NUS), one of the world's first seafloor miners, is on track to start operations at its Solwara 1 gold, copper and silver project off the coast of Papua Guinea in early 2019.The Toronto-based company, which also is developing another underwater project, off the coast of Mexico, expects to have all its undersea mining tools ready to go by mid-next year, so it can kic...Read More
(Adds quotes, background)LUSAKA, March 24 (Reuters) - Indian mining company Vedanta Resources VED.L said on Friday it will invest $1 billion in its Zambian mining unit Konkola Copper Mines (KCM), creating 7,000 jobs.Vedanta announced the investment after a meeting between its Chairman Anil Agrawal and Zambian President Edgar Lungu.Vedanta has a majority stake in KCM and has said the mine could p...Read More
LUSAKA, March 24 (Reuters) - Indian mining company Vedanta Resources VED.L said on Friday it will invest $1 billion in Zambia's Konkola Copper Mines (KCM), which it sees having the potential to produce the metal for another 50 years.Vedanta has a majority stake in KCM.The investment, which is expected to create 7,000 jobs, was announced after a meeting between Zambian President Edgar Lungu and V...Read More