Jan 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 9 points at 7,217 on Friday, according to financial bookmakers.* The UK blue chip index closed down 0.54 percent at 7208.44 points on Thursday, dragged down by British parcel and postal firm Royal Mail RMG.L , whose results were badly received. ROYAL BANK OF SCOTLAND: Japanese financial services firm Orix Corp 8591.T has agreed...Read More
Economic growth is not a mystery. As Dr. John Hussman reminds us, economic growth always comes down to the sum of just two things: 1) more people working, 2) higher productivity. Add them up and you get the real growth rate. Everything else means nothing unless it contributes to these two factors.Hussman assumes that the unemployment rate falls to an incredibly optimistic 2% by 2024 (from its curr...Read More
A year ago credit ratings agency Moody's warned that the downturn in raw materials was like no other and that defaults among mining and metals companies could reach levels last seen during the height of the financial crisis.As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers, eventually downgrading 36 companies, including marquee names like Rio Tinto...Read More
Newcomer Cornish Lithium Limited is hoping to lead the development of a lithium industry in the UK after acquiring the rights to drill for the mineral in the ancient mining region of Cornwall from Canadian junior Strongbow Exploration (TSX-V:SBW).With the deal, the start-up led by the head of mining research at Investec Plc, Jeremy Wrathall, is undertaking what is believed to be the largest, sin...Read More
Investing.com - Gold prices fell sharply during European morning trade on Thursday, dropping below the $1,200-level after Federal Reserve Chair Janet Yellen said the U.S. economy is strong enough to warrant higher interest rates.Gold for February delivery on the Comex division of the New York Mercantile Exchange slumped $12.35, or around 1%, to $1,199.75 a troy ounce by 3:35AM ET (08:35GMT), after...Read More
LIMA, Jan 18 (Reuters) - India and Peru plan to start negotiations on a bilateral free trade agreement covering goods, services and investments sometime in the first quarter, Peru said on Wednesday.The Cabinet of Indian Prime Minister Narendra Modi approved a feasibility study on the proposed deal on Wednesday, clearing the way for the start of formal talks, Peru's Trade Ministry said in a stateme...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
SHANGHAI, Jan 19 (SMM)? 1/4 ?Nonferrous metals rallied today, with lead rising 2%. Aluminium and tin edged up about 1% and copper gained slightly. Nickel saw a slight dip today.The ferrous complex also did well today. Rebar led the gain with a 2% rise. Hot-rolled coil climbed nearly 2%, iron ore rose 1.59% and coke gained 1%. Coking coal edged up 0.63%.Copper: SHFE copper traded bet...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper prices are expected to rise, overall, in 2018 despite current declines.This is in line with expectations from financial institutes such as Deutsche Bank, Société Générale and the Chilean state copper commission, Cochilco. All three have raised their price expectations in anticipation of tighter supply.SMM believes that, as i...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper: Copper is expected to remain rangebound today. LME copper is to trade at $7,020-7,120/mt while SHFE 1803 is to trade at 53,190-54,050 yuan/mt. Spot discounts are expected at 130-80 yuan/mt.Aluminium: We see LME aluminium trading at $2,220-2,250/mt while SHFE aluminium is likely to follow LME tendency at 14,600-14,800 yuan/mt today. We see spot discoun...Read More
Freeport-McMoRan (NYSE:FCX) has entered into an agreement with the US government for the cleanup of 94 abandoned uranium mines on Navajo land, the U.S. Justice Department said on Tuesday.Company will perform the work and federal government will contribute about half of the more than $600 million cleanup costs.Under the deal, valued at more than $600 million, Freeport-McMoRan units Cyprus Amax Mine...Read More
Mining giants Rio Tinto (LON:RIO) and Aluminum Corp. of China (Chinalco) have decided to call it quits on a six-year-old exploration joint venture originally set to find copper deposits in China.Rio had dropped a hint about the breakup on Tuesday by saying it had discontinued exploration work in China, India and Mexico, with no further details.A Chinalco spokesperson confirmed to Bloomberg that t...Read More
Operations at Canadian miner Yamana Gold's (TSE:YRI) (NYSE:AUY) El Pe????n mine in northern Chile have resumed following collective bargaining agreements reached with two unions representing underground workers, the company said late Tuesday.The strike has not had a significant impact on mine and consolidated production, said Yamana.The Toronto-based miner halted El Pe????n, its second biggest gol...Read More
Junior exploration companies with mineral claims throughout the province have no right to know when the government is secretly negotiating interim treaties that the junior sector fears could result in de facto expropriation without consultation.That's what government officials are now openly admitting to the courts, according to the law firm representing a junior mining company that is seeking a j...Read More
For companies servicing the mining sector, project opportunities have declined significantly in the past few years.But, with production increasing, the opportunities presented by operating mines are growing.The decline in project opportunities is in line with the decline in capital expenditure in mining and oil-and-gas, as shown in the following graph. (Separate figures for mining and oil-and-gas...Read More
In 2004, Imperial Metals Corp. (TSX:III) notified B.C.'s Ministry of Water, Land and Air Protection that it would be applying for a water discharge permit in anticipation of restarting its Mount Polley copper mine near Likely, B.C.The company said it would need to release water from a tailings pond, which would grow in volume once mining resumed operations.Ten years later, it was still waiting for...Read More
* Europe's STOXX inches up 0.2 pct after choppy day* Pearson plunges after profit warning* ASML surges to record high on net income beat* Miners top gainers as copper steadies (Recasts, adds quotes and detail, updates prices)By Danilo MasoniMILAN, Jan 18 (Reuters) - European shares ended little changed on Wednesday with investors looking at corporate earnings for market direction as more doubts...Read More
(Corrects headline and first paragraph in Jan. 17 story to show payment is not a fine)LUSAKA, Jan 17 (Reuters) - Konkola Copper Mines (KCM), owned by global conglomerate Vedanta Resources PLC VED.L , will pay the first tranche of the $100 million it owes the Zambian government by the end of the month, the country's investment firm said on Tuesday.The claim relates to outstanding payments under a...Read More
(Updates futures, adds company news items)Jan 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 14 points higher on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.3 percent ahead of the cash market open.* The UK blue chip index closed 1.5 percent lower at 7,220.38 points, posting its biggest one-day drop since June 2016 on Tuesday, with a jump in sterling followi...Read More