China's Chinalco, the country's main mining company, has inked a preliminary deal with Peru's government to expand Toromocho copper mine, the Asian nation's largest overseas copper project.The move is part of a series of agreements signed this week that will see China pouring close to $5.3 billion into Peru's mining and energy sector, Andina news agency reported.Move is part of a series of agreeme...Read More
Copper, until recently one of the worst performing commodities in the past two year, is having a great month, with prices up about 20% to more than $5,700 a tonne Thursday.The rally, which began on the heels of Donald Trump winning in the US presidential election, has been partly based on speculation regarding the impact of the President-elect's $500 billion infrastructure plans on demand for the...Read More
* Dollar index near 14-year high after upbeat U.S. data* Yen and euro pressured* Emerging market central banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low after rate rise* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The...Read More
* Dollar index near 14-year high after upbeat US data* Yen, euro, emerging market cen banks seen intervening* Yuan near 7 per dollar level for first time since May 2008* India's rupee, Turkish lira at record low* Prospects of China, U.S. inflation buoy copper, zinc* Crude oil little changed amid OPEC meeting uncertaintyBy Marc JonesLONDON, Nov 24 (Reuters) - The dollar surged to a near 14-year hig...Read More
Investing.com - Gold prices eased on Thursday after falling to their lowest levels since February as the dollar paused after surging to fresh 14-year peaks.Gold for December delivery was trading at $1,187.55 a troy ounce by 0946 GMT, after earlier falling as low as $1,179.75, a level not seen since February 8.The U.S. dollar index, which measures the greenback's strength against a trade-weighted b...Read More
(Adds company news items, futures)Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.22 percent ahead of the cash market open.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic upd...Read More
Nov 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 4 points, on Thursday, according to financial bookmakers.* The UK blue chip index ended flat on Wednesday after a choppy day, with individual sectors diverging as finance minister Philip Hammond delivered the biggest economic update since Britain voted in June to leave the European Union. BRITAIN BUDGET: Britain has ramped up i...Read More
Robert Friedland, executive chairman of Ivanhoe Mines (TSX:IVN), and CEO Lars-Eric Johansson, announced today that excellent progress has been made by Ivanhoe in upgrading and modernizing the Kipushi Mine's shafts, pumping stations and underground infrastructure as part of the plan to prepare the mine for the restart of commercial production. The mine now has clear and safe access to all of the ma...Read More
Toronto, ON -- November 22, 2016. Mining companies were awarded and celebrated last night for their investments in renewable energy at a glittering awards gala and dinner in Toronto. Mining companies from Canada, Chile, Mexico, Australia, and South Africa received awards for their investments in wind and solar technologies at the Energy and Mines Renewables and Mining Awards."These mining companie...Read More
Bob Moriarty of 321 Gold highlights BCGold, a company that he believes its promising land package in Peru makes it a good buy in this market.Almost ten years ago I went to central Peru some sixty-five miles east of Lima to see an area that had been abandoned when the Shining Path guerillas moved in. The Chanape Mining District was home to some of the best mining projects and mines in Peru. All w...Read More
World's second largest miner Rio Tinto (ASX, LON:RIO) is selling an aluminum smelter and hydro-electric power plants in Scotland to two affiliates of energy and metals group GFG Alliance for $410 million ( ?330m), as part of its efforts to cut debt.The deal comprises Rio's Alcan Aluminium UK Ltd. unit, which includes the operating aluminum smelter at Fort William, the hydroelectric facilities...Read More
President Trump plans on Making America Great Again. And to do this he plans on investing several-hundred billions of dollars into rebuilding and repairing infrastructure across the United States, including highways, bridges, tunnels, airports, schools, and hospitals.The policy was also proposed by Secretary Clinton, indicating broad bipartisan support in Congress for this investment. Infrastruc...Read More
(Adds quotes, detail)LUSAKA, Nov 23 (Reuters) - Zambia's copper production is expected to increase by 4 percent to 740,000 tonnes this year, the Chamber of Mines in Africa's second-largest producer of the metal said on Wednesday.A government forecast in February indicated Zambia's copper production will be around 700,000 tonnes this year and next year before rising to 1 million tonnes in 2018.Howe...Read More
* European stocks fail to match Wall Street records* Fed minutes to reinforce rate hike conviction* German bond yields bounce off lows on ECB loan plan* Gap between U.S.-German yields near 11-year high (Updates prices)By John GeddieLONDON, Nov 23 (Reuters) - European shares dipped and German bond yields briefly touched record lows on Wednesday, a contrast with the buoyant mood on Wall Street as in...Read More
* European stocks fail to match Wall Street records* Fed minutes to reinforce rate hike conviction* German bond yields hit lows despite strong data* Oil prices fall on OPEC deal doubtsBy John GeddieLONDON, Nov 23 (Reuters) - Financial markets showed the diverging path of U.S. and euro zone monetary policy on Wednesday with Wall Street breaking new ground and the dollar perched near a 14-year high,...Read More
Investing.com - Gold prices edged higher on Wednesday as the dollar hovered below almost 14-year highs against a currency basket as investors awaited the release of minutes from the Federal Reserve's policy meeting earlier this month.Gold for December delivery on the Comex division of the New York Mercantile Exchange were at $1,212.9 a troy ounce, holding above the lows of $1,201.30 set on Friday,...Read More
Commodities are back in favour, boosting oil producers and miners after their annus horribilis of 2015. The Bloomberg Commodity Index is set for its biggest three-day advance since June, led by gains in oil and industrial metals.Read moreRead More
Canada's Ivanhoe Mines (TSX:IVN) and its joint-venture partner Zijin Mining Group are transferring an additional 15% interest in their Kamoa-Kakula copper project to the DRC's government.Deal increases Congo's stake in the project, which Ivanhoe believes it could prove to be Africa's most significant copper deposit ever found, to 20%.The deal increases Congo's stake in the project, which Ivanhoe b...Read More
* Three main Wall Street indexes hit record highs for 2nd day* Dow tops 19,000, S&P 500 tops 2,200 for first time* Oil prices fall after touching highest of month* U.S. 2-year Treasury yields hit more than six-year high* Dollar near six-month high vs yen (Updates to close of European markets)By Sam ForgioneNEW YORK, Nov 22 (Reuters) - Wall Street's three main stock indexes hit record highs for a s...Read More
* Three main Wall Street indexes hit record highs for 2nd day* Dow tops 19,000, S&P 500 tops 2,200 for first time* Oil prices touch highest of month on planned production cuts* U.S. 2-year Treasury yields hit more than six-year high* Dollar near roughly six-month high vs yen (Updates to open of U.S. trading; changes byline, dateline, pvs LONDON)By Sam ForgioneNEW YORK, Nov 22 (Reuters) - U.S. and...Read More