* Dollar rebounds after hitting mid-November low* U.S. stocks dip after Trump trade comments* BOE keeps rates unchanged; sterling drops* European shares drop as Deutsche Bank disappoints (Updates to European market close)By Dion RabouinNEW YORK, Feb 2 (Reuters) - The dollar was flat on Thursday after hitting its lowest level since mid-November, while world equity markets were mixed as investor c...Read More
The Philippine government, which has long had an uneasy relationship with the mining industry - and one former Vancouver miner in particular - has shut down nearly two dozen operating mines.One of the companies caught in the crackdown is the Australian-Canadian company OceanaGold Corp. (TSX:OGC), which is headquartered in Australia but has a corporate office in Vancouver. The company's Didipio is...Read More
Ivanplats, a subsidiary of Ivanhoe Mines (TSX:IVN), will be allowed to relocate some graves present at its Platreef platinum group metals site, near Mokopane, after a South African judge revoked Thursday an interim interdict that prevented the company from doing so.Ivanhoe's local unit had challenged the temporary ruling, issued in November last year, on the basis that the hearing was conducted w...Read More
* Dollar hits lowest since mid-November* U.S. stocks dip on uncertain outlook from Fed* BOE keeps rates unchanged, sinking sterling* European shares drop as Deutsche Bank disappoints (Updates to U.S. market open, adds data, quotes, changes dateline, previous LONDON)By Dion RabouinNEW YORK, Feb 2 (Reuters) - The dollar fell on Thursday to its lowest since mid-November and world equity markets wer...Read More
* Dollar hits 12-week low after Fed statement lacks clarity* European stocks mixed, Wall Street seen opening lower* Bond yields fall, German-French spread in focus* Pound dips after Bank of England says rates could rise or fallBy Marc JonesLONDON, Feb 2 (Reuters) - The dollar slipped to a 12-week low on Thursday and European stocks traded cautiously after the U.S. Federal Reserve stuck to its mild...Read More
Investing.com - Gold prices gained in European morning trade on Thursday, rising toward the highest level in about 11 weeks as the U.S. dollar slumped after the Federal Reserve gave no firm signal on the timing of its next rate hike.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to a session peak of $1,219.20 a troy ounce, the most since November 17.It was l...Read More
SHANGHAI, Feb 2 (SMM) – SHFE nickel led the gains of base metals today with an over 2% rise while SHFE lead was up close to 1%. Copper increased by 0.72% and zinc was up 0.45%. Tin, however, edged down 0.6%.The ferrous complex saw coking coal jump almost 3% whereas coke was up close to 2%. Hot-rolled coil rose 1.6%, iron ore went up 1% and rebar edged up 0.51%.Copper: The SHFE 1803 copper co...Read More
SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
Rainbow Field, Director of International Legal Services, at Bowmans in Kenya. Kenya's new Mining Act is the first major revision in mining law in the country since the 1940s. The new Act is largely considered to be a modern piece of legislation that is clear in terms of timelines and structures, but that still has a few challenges that need to be addressed.The Act requires the establishment of...Read More
After four-plus years of declines, 2016 was a comeback year for the mining industry - with only a couple of exceptions, energy, metal and mineral prices rallied strongly last year.The turnaround in the sector has convinced at least one private equity firm that it may be time to lock in some profits. Reuters reports the Orion Mine Finance Group is in talks to sell a portfolio of 87 royalty, stream...Read More
Vancouver, British Columbia: Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) announces a new investment in the future of its Caribou Zinc Mine, located in the Bathurst Mining Camp of northeastern New Brunswick, Canada, through the decision to transition to an owner-operated model that will include procurement of a new underground mining flee...Read More
Los Bronces copper mine in Chile. (Image courtesy of Anglo American | Flickr.)Global miners, particularly Canadians, are showing increasing signs of optimism as commodity prices are on the rise, shallow growth is returning to different end markets, and most are in better cost positions than in the recent past, the annual "Tracking the Trends" report by Deloitte released Wednesday shows.However ch...Read More
About 2,500 workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper operation, voted late Tuesday to reject a company wage offer and opted instead to go on strike.The walk out could begin as early as Friday, a union representative told Diario Financiero (in Spanish), but it'd likely be deferred for a five-day government mediation to attempt a resolution.Miners have accused BH...Read More
* Gauge of stocks around the world snaps 4-day fall* Strong U.S. payrolls report boosts dollar, Treasury yields* Dollar rises after worst January in 30 years* Oil rises as OPEC, Russia deliver on supply cuts (Updates to U.S. market open, adds data, quote, changes dateline, previous LONDON)By Dion RabouinNEW YORK, Feb 1 (Reuters) - Stocks moved higher around the globe and the U.S. dollar rose along...Read More
* Dollar pares losses after worst year start in 3 decades* Dollar steadies after slump on U.S. devaluation complaint* Fed seen on hold amid much policy uncertainty* European shares climb as risk appetite creeps back* Apple stock up 3 pct after bell on strong iPhone salesBy Marc JonesLONDON, Feb 1 (Reuters) - World stocks made their first gain in five days on Wednesday as the dollar steadied from t...Read More
Investing.com - Gold prices were little changed in European morning trade on Wednesday, holding near the prior session's one-week high as market players looked ahead to the outcome of the Federal Reserve's policy meeting for further clues on the timing of the next rate hike.Gold for April delivery on the Comex division of the New York Mercantile Exchange dipped $1.00, or around 0.1%, to $1,210.35...Read More
(Adds futures, company news items)Feb 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 34 points higher at 7,134 on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.4 percent ahead of the cash market open.* The UK blue chip index closed down 0.3 percent on Tuesday at 7,099.15. European shares ended January marginally lower after falling to a one-week low on Tuesday...Read More
Feb 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 34 points higher at 7,134 on Wednesday, according to financial bookmakers.* The UK blue chip index closed down 0.3 percent on Tuesday at 7,099.15. European shares ended January marginally lower after falling to a one-week low on Tuesday, as investors turned more realistic about U.S. President Donald Trump's policies, even though soli...Read More
SHANGHAI, Feb 1 (SMM) – Nonferrous metals futures edged down with SHFE aluminium leading the loss with a 1% drop. The ferrous complex saw mixed trading with hot-rolled coil up over 1% and rebar up slightly. Iron ore was down nearly 1%.Copper: Investors have reduced their long bets today, dragging SHFE copper lower. We expect copper prices to stay rangebound in the short term as the US w...Read More