One week after releasing its final report on a 2015 toxic wastewater spill accidentally triggered by its own staff at a defunct Colorado mine, the US Environmental Protection Agency announced it won't pay the $1.2 billion in claims filed by local governments, farmers, ranchers, tribes, and river-running raft companies that were seeking compensation for lost business or wages from the spill.Accordi...Read More
Radomiro Tomic copper mine in Chile. (Image courtesy of Codelco via Flickr)Copper, until recently one of the worst performing commodities of the past two years, experienced a sudden spike at the end of 2016, posing several questions as to the direction of the market as we move into 2017.The rally, which began on the heels of Donald Trump winning in the US presidential election, has been partly bas...Read More
Investing.com - Gold ended lower on Friday as investors took profits after prices hit a seven-week peak in the previous session, but still notched up a third consecutive weekly gain.Gold for February delivery settled down 0.21% at $1,195.3 on the Comex division of the New York Mercantile Exchange.The metal was still 1.98% higher for the week, helped by a broad weakening of the U.S. dollar.The U.S....Read More
SHANGHAI, Jan 15 (SMM)? 1/4 ? Nonferrous metals futures on the SHFE saw mixed trading on Monday with copper closing with 0.57% rise and nickel up 0.42%. While zinc and aluminium edged up slightly, lead dropped 0.49% and tin slipped 0.3%.The ferrous complex was weaker as iron ore and coking coal dropped around 2% and coke dropped 1.5%. Both hot-rolled coil and rebar were also down slightly.Copper:...Read More
SHANGHAI, Jan 15 (SMM)? 1/4 ?Copper: LME copper traded lowered between the 10-day and 20-day moving averages and is expected to trade at $7,080-7,160/mt today. SHFE copper is expected to trade at 54,260-54,790 yuan/mt while spot premiums are to rise to 40-100 yuan/mt today.Aluminium: LME aluminium is expected to trade higher at $2,210-2,240/mt due to the suspension of Alcoa’s overseas plant...Read More
Rick Rule of Sprott Global Resource Investments sits down with Maurice Jackson of Proven and Probable to discuss why investors need to place more importance and prudence on selecting the best of the best people as they will outperform the best commodities. Mr. Rule shares his unique, proven perspective and selection process as he outlines many aspects such as good stewards of capital, change of co...Read More
At the end of November copper hit an 18-month high on the back of optimism about the possible impact of president-elect Donald Trump's $500 billion-plus infrastructure plan on the metal, widely used in construction, manufacturing transportation and power industries.The price has since come off the boil, official customs data from China, responsible for some 45% of global consumption of the red...Read More
Investing.com - Gold prices slipped lower on Friday, pulling away from a seven-week high as the U.S. dollar regained some strength, although ongoing U.S. political uncertainties continued to support demand for the safe-haven precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.31% at $1,196.15, just off Thursday's seven-week high...Read More
(Updates prices, adds comment)* U.S. stocks slide, dollar falls after Trump short on stimulus* Oil consolidates after bounce; gold hits 7-week high* U.S.-listed Fiat shares fall after EPA newsBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell and the U.S. dollar dropped to a five-week low on Thursday after President-elect Donald Trump, in his eagerly-awaited news brief...Read More
(Updates prices, adds Fiat news)* Dollar slips, bonds rally after Trump short on stimulus* Healthcare stocks in Europe drop 2 percent after Trump* Oil consolidates after bounce; gold hits 7 week highBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell and the U.S. dollar dropped to a five-week low on Thursday after President-elect Donald Trump, in his eagerly-awaited new...Read More
The Democratic Republic of Congo won't stand in the way of Glencore's (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining tycoon Dan Gertler.Mines Minister Martin Kabwelulu told Bloomberg he "didn't believe" the government needed to authorize changes in ownership in that project, marking a radical shift from previous attempts to block...Read More
Canada's Goldcorp (TSX:G)(NYSE:GG), the world's third largest gold producer by market value, is selling mines in Mexico and Guatemala to two different buyers as part of its ongoing efforts to focus on highly profitable, core assets.The Vancouver-based company said it will receive an estimated $438 million worth of cash, stock and other assets by selling its Los Filos gold-and-silver mine in Mexic...Read More
Nickel prices plummeted almost 5%, hitting a fourth-month low Thursday after Indonesia decided to finally relax its ban on partially processed minerals exports, including nickel ore, bauxite and other minerals concentrates under certain conditions.The export ban, in place since 2014, aimed to push miners to build smelters and so process ore locally. The ruling did allow, however, some concentrate...Read More
Southern Copper's (NYSE:SCCO) $1.2 billion expansion of its Toquepala open-pit mine in southern Tacna, Peru, will be ready by the end of the year and in operations early 2018, the company said.The company's president and chief executive ?"scar Gonz??lez Rocha told local media Wednesday (in Spanish) the project, which will allow the firm double the mine's output, is 40% complete.He noted the outp...Read More
Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to report that the Government of Canada, the Government of the Northwest Territories ("GNWT") and the Tlicho Government have jointly announced federal funding for the construction of the Tlicho All-Season Road ("TASR") to the community of Whati (See January 11, 2017 news releas...Read More
(Adds comment, updates prices, changes dateline; previous LONDON)* Dollar slips, bonds rally after Trump short on stimulus* Healthcare stocks in Europe drop 2 percent after Trump* Oil consolidates after bounce, gold hits 7 week highBy Gertrude Chavez-DreyfussNEW YORK, Jan 12 (Reuters) - Wall Street stocks fell nearly 1 percent and the U.S. dollar dropped to a five-week low on Thursday after Presid...Read More
* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVh* Dollar slip, bonds rally after Trump fails to talk stimulus* Healthcare stocks in Europe drop 2 percent after Trump talk* Oil consolidates after bounce, gold hits 7 week highBy Marc JonesLONDON, Jan 12 (Reuters) - The U.S. dollar nursed widespread losses on Thursday after President-elect Donald Trump's long-awaited news briefing provided...Read More
Investing.com - Gold prices rallied to a seven-week high on Thursday, as the U.S. dollar sank after President-elect Donald Trump's highly-anticipated press conference failed to offer details on his plans to boost fiscal spending and cut taxes.Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session peak of $1,202.35 a troy ounce, a level not seen since...Read More
SHANGHAI, Jan 12 (SMM)? 1/4 ? SHFE zinc stood out from the performance of other nonferrous metals with a 0.8% rise today, while nickel was down close to 2% and lead down 1%. Copper and aluminium both edged down 0.5%.The ferrous complex remained weak with iron ore down over 2% and rebar down 1.6%. Coking coal and hot-rolled coil were down some 1.4% and coke closed 0.7% lower.Copper: SHFE copper was...Read More