On Tuesday, December 6, 2016, the nation will pay tribute to the American miner, both past and present, on National Miners Day. This day was proclaimed in 1907 by the Mine Safety and Health Administration (MSHA) and Congress in 2009 to commemorate a 1907 explosion at the No. 6 and No. 8 mines in Monongah, West Virginia, killing 362 miners. This incident still stands over a century later as the wor...Read More
I'm sure most of you have, like me, spent too much time reading and thinking about this issue in recent weeks. The first half of the year was so fun, so rewarding, with all the arguments for gold proving true. It is much less fun now seeing gains erode, seeing gold break down through technical barriers, seeing the US dollar rise and rise, and seeing US equities maintain a seemingly endless bull ru...Read More
LONDON, Dec 6 (Reuters) - European shares edged lower in early trading on Tuesday, with commodities-related stocks coming under pressure following a drop in prices of crude oil and industrial metals.The pan-European STOXX Europe index .STOXX was down 0.2 percent. Italy's FTSE MIB .FTMIB was trading flat after finishing down 0.2 percent on Monday following political jitters in Italy.The STOXX Europ...Read More
(Adds compay items)Dec 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 4 and 14 points lower on Tuesday, according to financial bookmakers, with futures FFIc1 down 0.1 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent on Monday at 6,746.83 points, with basic resources stocks leading the market higher as prices of industrial metals such as cop...Read More
Dec 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening between 4 and 14 points lower on Tuesday, according to financial bookmakers.* The UK blue chip index closed up 0.2 percent on Monday at 6,746.83 points, with basic resources stocks leading the market higher as prices of industrial metals such as copper rose. BARCLAYS: British bank Barclays Plc BARC.L has joined the list of top bank...Read More
While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals appear intact.In a new report BMI Research, a unit of Fitch, says the gains in metal prices this year is set to continue in 2017 thanks to infrastructure spending in China and to some extent in the US and the UK, but at a...Read More
Credit ratings agency Moody's warned at the beginning of the year that the downturn in raw materials was like no other and that the global mining sector was undergoing structural change.As a result, Moody's embarked on a sector-wide review of the 87 global mining majors that it covers and in the process dropped big names like Freeport-McMoRan, Anglo American and Vale into junk territory and axed r...Read More
The copper price hit an 18-month high on an intraday basis last week as global manufacturing activity continues to pick up and hopes about US president-elect Trump's $500 billion infrastructure plans lift sentiment.In Asian trade on Monday copper for delivery in March, the most active contract, jumped 1% to exchange hands for $2.6515 per pound ($5,845 a tonne) on the Comex market in New York.Af...Read More
Photo of the Minto mine courtesy of Capstone Mining Corp.A recent bump in the price of copper has Yukon's only operating mine looking to bring back some laid-off workers. The Minto copper mine closed all of its open-pit mining operations on Oct. 1, meaning that 58 employees contracted through Pelly Construction Ltd. were laid off.Read more Read More
Investing.com - Gold prices rose on Friday, moving higher for the first time in four sessions despite a solid U.S. jobs report as the dollar slid, helping support demand for the precious metal.Gold for February delivery settled up 0.82% at $1,179.00 on the Comex division of the New York Mercantile Exchange.Prices hit lows of $1,160.00 a troy ounce on Thursday, their weakest level since February.Th...Read More
The US Environmental Protection Agency (EPA) announced Friday a new set of financial responsibility requirements for the hard rock mining industry, which main goal is said to be protecting taxpayers from having to carry the weight of expensive clean-up operations.Under the proposed regulation, companies mining non-coal minerals such as gold, silver, copper or lead would have to demonstrate to the...Read More
(Adds company news item, adds futures)Dec 2 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 48 points at 6,704 on Friday, according to financial bookmakers, with futures FFIc1 down 0.6 percent ahead of the cash market open.* The UK blue chip index closed down 0.5 percent on Thursday at 6,752.93, pulled down by more evidence of the weak pound damaging consumer goods companies and by...Read More
Dec 2 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 48 points at 6,704 on Friday, according to financial bookmakers.* The UK blue chip index closed down 0.5 percent on Thursday at 6,752.93, pulled down by more evidence of the weak pound damaging consumer goods companies and by some stocks trading without rights to their latest dividend payouts. TALKTALK: A cyber attack on Britain...Read More
Shares in Lundin Mining (TSX:LUN) jumped more than 5% on Thursday after the company announced the introduction of a quarterly dividend policy and provided a strong production outlook for its copper and zinc operations. The company, worth $3.7 billion in New York, is up nearly 90% this year thanks to the rally in base metals.The first $0.03 per share payment, pending board approval, is expected to...Read More
Mining and commodities trader giant Glencore (LON:GLEN) just added a fresh sign to a mounting pile of indicators that signal a long-awaited recovery in the mining industry, by announcing it will resume paying dividends in 2017 and also meet its goal this year to cut net debt.The Swiss company, which was one of the worst-performing stocks in the FTSE 100 last year amid a commodity prices rout, said...Read More
The Taliban have offered to protect major government projects such as the mining of a big copper deposit and an international natural gas pipeline project to assist the development and prosperity of war-torn Afghanistan.The insurgents have been behind much of the violence over the last 15 years that has frightened off investors, leaving Afghanistan unable to tap its vast natural resources and buil...Read More
(Corrects foreign ministry spokesman's response to "unaware of situation" not "aware of situation" in paragraph 8)ULAANBAATAR, Dec 1 (Reuters) - A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week.The Dalai Lama is...Read More
(Adds company news and sector items, futures)Dec 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 1 point higher on Thursday, according to financial bookmakers, with futures down 0.15 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent on Wednesday at 6,783.79, led by rebounding energy stocks after oil prices surged to their biggest one-day gain in nine...Read More
Dec 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 1 point higher on Thursday, according to financial bookmakers.* The UK blue chip index closed up 0.2 percent on Wednesday at 6,783.79, led by rebounding energy stocks after oil prices surged to their biggest one-day gain in nine months when major producers agreed to output cuts to curb oversupply. FTSE RESHUFFLE: Precious metals mini...Read More
Rescue workers used bare hands and light equipment Wednesday in a desperate attempt to save four missing miners at a Polish copper mine that was hit by a tremor and a cave-in. Four other miners were killed, the mine's director said.The mine is operated by the KGHM Polska Miedz, which has presence in Chile, Canada and the United States.Continue reading...Read More