LUSAKA, Dec 28 (Reuters) - Zambia is withholding 2.4 billion kwacha ($243 million) of the 5 billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday.Zambia's government began paying up to 800 million kwacha a month in Value Added Tax refunds to mining companies in June, aiming to put an end to a long running...Read More
* Aussie and kiwi recover from multi-month lows* Oil, copper, iron ore prices all higher* Euro, yen and sterling inch down* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Patrick GrahamLONDON, Dec 28 (Reuters) - The Australian and New Zealand dollars both recovered against their U.S. counterpart on Wednesday, helped by a broadly robust tone to stock and commodity markets heading into t...Read More
Dec 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of December 27, 2016. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) ------------------------------ --------- SHORT TERM RATINGS: ------------------- Ala Chemicals Pvt LtdST Bk Fac - Non-FB CARE A3 (SO) 300Reaffirmed- LC/BG* *The above ratings are based on the credit enhanceme...Read More
Investing.com - Gold prices edged slightly higher in abbreviated trade ahead of the holiday weekend on Friday, but the precious metal still posted its seventh straight weekly decline as expectations for higher U.S. interest rates in the months ahead weighed.Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $2.90, or 0.26%, to end the week at $1,133.60 a...Read More
(Adds futures, company news items)Dec 23 (Reuters) - Britain's FTSE 100 futures FFIc1 were up 0.1 percent on Friday ahead of the cash market open.European markets are expected to have a quiet session as it is only a half-day on the London Stock Exchange , with the British market shutting at 1230 GMT.* The UK blue chip index ended up 0.3 percent on Thursday in thin pre-Christmas volumes, led by g...Read More
Dec 23 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 0.12 percent lower on Friday, according to financial bookmakers.European markets are expected to have a quiet session as it is only a half-day on the London Stock Exchange, with the British market shutting at 1230 GMT.* The UK blue chip index ended up 0.3 percent on Thursday in thin pre-Christmas volumes, led by gains in the energy...Read More
Aurico Metals (TSX:AMI) has added to its royalty portfolio and flagship B.C. asset through the acquisition of Kiska Metals Corporation (TSXV:KSK).Under terms of the agreement announced today, Kiska shareholders will receive about 0.0667 of an AuRico common share plus CAD$0.016 in cash for each Kiska share held.Through the tie-up, Toronto-based AuRico will obtain two copper-gold porphyry deposi...Read More
A small Canadian miner is confident Donald Trump's U.S. presidential win will let it proceed with an application for a copper and gold mine in Alaska that has been stalled almost three years by environmental regulators aiming to protect the world's biggest sockeye salmon fishery.Ronald Thiessen, chief executive officer and president of Northern Dynasty Minerals Ltd, said he expected the U.S. Envir...Read More
In March Chinese leaders detailed the country's 13th five-year plan running from 2016 - 2020 which doubles-down on a long-stated commitment to "double 2010 GDP by 2020".The 2020 GDP goal would require annual growth rates of 6.5% to go from a nominal $10 trillion last year to over $12 trillion in 2020. That's the equivalent of adding an economy the size of Switzerland's every year.China's officia...Read More
* Italian shares, euro rise as Italy limps towards bank rescue* Profit-taking pulls dollar off this week's highs* Wall Street set to open down slightly* Crude oil slips, metals extend decline* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Dec 22 (Reuters) - European markets were poised for one last burst of action before the end of the year on Thursday, with Italy ex...Read More
Investing.com - Gold prices were little changed near last week's 11-month lows on Thursday, with liquidity fading in the run-up to the Christmas weekend.Gold for February delivery on the Comex division of the New York Mercantile Exchange dipped 45 cents, or 0.04%, to $1,132.75 a troy ounce by 3:55AM ET (08:55GMT), after falling 40 cents, or 0.04%, in the prior session.Prices of the yellow metal sa...Read More
LONDON, Dec 22 (Reuters) - European shares edged lower on Thursday, dropping further from their highest levels of the year, though drugmaker Actelion ATLN.S provided support after it entered exclusive discussions with prospective bidder Johnson & Johnson (NYSE:JNJ).The STOXX 600 .STOXX was down 0.2 percent, falling for a second straight session after hitting its highest level since Jan. 4 on Tuesd...Read More
(Updates futures, adds company news item)Dec 22 (Reuters) - Britain's FTSE 100 futures FFIc1 were down 0.17 percent on Thursday ahead of the cash market open.* The UK blue chip index .FTSE ended little changed on Wednesday after hitting a two-month high, though a rise in Ashtead Group AHT.L and bottler Coca-Cola Hellenic CCH.L provided support. The FTSE 100 was flat at 7,041.42 at its close. L&G...Read More
Dec 22 (Reuters) - Britain's FTSE 100 .FTSE index could edge down 0.1-0.2 percent on Thursday, based on last prices for futures on the index.As the holidays approach, financial spreadbetters were not immediately available to provide indications of what might happen at the open.* The UK blue chip index ended little changed on Wednesday after hitting a two-month high, though a rise in Ashtead Group...Read More
Dec 22 (Reuters) - Gold edged higher in Asian trade on Thursday, after ending the prior session nearly flat, as the U.S. dollar retreated from 14-year highs touched earlier this week.FUNDAMENTALS* Spot gold XAU= was up 0.1 percent at $1,132.04 an ounce by 0049 GMT. Bullion closed nearly flat in the previous session.* U.S. gold futures GCcv1 were little changed at $1,133.60 per ounce.* The dollar i...Read More
[Editor's Note: MINING.com is a media sponsor of PDAC.]The world's leading minerals and mining event is once again returning to downtown Toronto.The Prospectors & Developers Association of Canada's (PDAC) International Convention, Trade Show & Investors Exchange-celebrating 85 years-will take place at the Metro Toronto Convention Centre (MTCC) from March 5 to 8, 2017.The 2016 Convention attracted...Read More
Eight civilians have been killed and another 35 severely injured by Congolese security forces in the country's mining hub of Lubumbashi during the past 36 hours, as part of widespread protests against President Joseph Kabila's hold on power, local groups said.King Kasongo, a lawyer and activist for Humanism and Human Rights (HDH), told Reuters Wednesday the incidents took place in Lubumbashi's Kat...Read More
When a mineral processing plant runs out of ore near by, its days are numbered. The capital equipment often becomes nothing more than a tax write-off. The businesses and people that depend on servicing the plant suffer. The continent is littered with ghost towns from booms that went bust.Up in Manitoba, Canada, near Flin Flon, a processing facility that was down to its last four years of ore could...Read More
1. Tailings rules tightenedB.C.'s Ministry of Energy and Mines marked the two-year anniversary of the Mount Polley tailings dam breach by announcing updates to the province's mining code, including new criteria for the operation of tailings ponds. In all, the government's mining code revisions addressed 20 of the 26 recommendations outlined in the reports of the independent expert panel and the ch...Read More
Dec 21 (Reuters) - Canadian stock futures were lower on Wednesday, indicating the market was set to snap a four-day winning streak.March futures on the S&P TSX index SXFc1 were down 0.06 percent at 7:15 a.m. ET.No major data is scheduled for release.Canada's main stock index rose on Tuesday, led by financial stocks and materials producers, including precious and base metal miners and fertilizer co...Read More