Nov 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 8 points on Friday, according to financial bookmakers.* The UK blue chip index fell 1.2 percent on Thursday, breaking a three-day climb and retreating from its highest level since late October as gold miners and defensive stocks slipped amid expectations of a big U.S. economic stimulus based on President-elect Donald Trump's pled...Read More
* Non-ferrous metal stocks higher on rising copper price* Nikkei trims gains in mid-morning trade* Hopes Trump policies could boost U.S. growthBy Ayai TomisawaTOKYO, Nov 11 (Reuters) - Japan's Nikkei share average rose to a nine-month peak on Friday morning led by financials taking heart from rising yields, and sentiment was boosted after U.S. shares soared on hopes that President-elect Donald Tru...Read More
* Tech weakness weighs on Wall Street* Bond yields continue to rise* Dollar strength weighs on oil, gold (Adds close of U.S. markets, oil settlement prices)By Chuck MikolajczakNEW YORK, Nov 10 (Reuters) - A rally in major world stock markets lost some steam on Thursday despite a continued surge in bank shares, as investors reassessed positions, while U.S. bond yields continued to climb on the like...Read More
* Tech weakness weighs on Wall Street* Bond yields continue to rise* Dollar strength weighs on oil, gold (Adds close of European markets)By Chuck MikolajczakNEW YORK, Nov 10 (Reuters) - A rally in major world stock markets lost some steam on Thursday as investors reassessed positions after a rally in the prior session, while U.S. bond yields continued to climb on fears of a revival in inflation un...Read More
South Africa's Harmony Gold (JSE:HAR) (NYSE:HMY), the world's fifth largest producer of the precious metal, has kicked off its 2017 financial year on a good note, reporting increased production, stronger cash flows and the payment of a shareholder dividend.The company, which is also South Africa's third-largest gold miner, said revenue jumped by 16% to $374 million when compared to the previou...Read More
Operations at Hudbay Minerals' (TSX, NYSE:HBM) Constancia copper-molybdenum mine in Peru remained suspended Thursday as a group of locals that has occupied parts of the pit since Monday evening refuse to leave the site.The trespassing by the crowd of about a thousand, according to local paper La Republica (in Spanish), forced Hudbay to temporarily suspend operations as a safety measure to protect...Read More
While the gold price has given up much of its initial surge following Donald Trump's victory in the US presidential elections, staying stuck below $1,300 early on Thursday, the rally in industrial metals were only gaining momentum.In pre-regular hours trade on Thursday copper for delivery in December jumped more than 10 cents from Wednesday trading as high as $2.5910 per pound ($5,712 a tonne...Read More
* Tech weakness weighs on Wall Street* Bond yields continue to rise* Dollar strength weighs on oil, gold (Updates to U.S. market open; changes byline, dateline; previous LONDON)By Chuck MikolajczakNEW YORK, Nov 10 (Reuters) - A rally in major world stock markets stalled on Thursday as investors reassessed positions after Tuesday's U.S. presidential election, while U.S. bond yields continued to cli...Read More
Ecuador may soon welcome mining majors BHP Billiton (ASX:BHP) and Hancock Prospecting after country authorities qualified recent talks with such companies as positive.Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by year-end.According to Mining Minister Javier Cordova Unda, BHP is keen on a few copper projects, including one that would im...Read More
In early trade on Tuesday copper for delivery in December held onto six-month highs with copper futures exchanging hands for $2.3085 per pound in New York and topping $5,000 a tonne in London dealings for the first time since end-April.Copper has risen during 11 of the last 12 trading sessions, adding nearly 11% in two weeks. While other industrial metals and steelmaking raw materials have jumpe...Read More
Shares in Seabridge Gold (TSX:SEA) (NYSE:SA) were being hammered Monday after the Canadian explorer revealed results of new preliminary studies which show the cost of building its massive gold-copper project in northern British Columbia, would be about $5 billion.While the KSM project is considered the world's largest undeveloped gold-copper project by reserves, the amount needed to turn it int...Read More
In early trade on Monday copper for delivery in December touched six-month highs with copper futures exchanging hands for $2.3125 per pound in New York and topping $5,000 a tonne in London dealings for the first time since end-April.Copper has risen during 10 of the last 11 trading sessions, adding nearly 11% in two weeks. While other industrial metals and steelmaking raw materials have jumped...Read More
According to Bloomberg New Energy Finance, EVs could displace 2 million barrels a day of oil demand as early as 2023. "That would create a glut of oil equivalent to what triggered the 2014 oil crisis."The first half of 2016 saw 128 percent growth in the critical Chinese market, and far stronger than expected sales in the United States, hinting that the world's EV fleet could grow even faster in th...Read More
Canada's federal government is injecting Cdn$2 million (about $1.5 million) into Rambler Metals and Mining's (LON:RMM) (CVE:RAB) copper and gold mine located in Newfoundland's Baie VerteThe loan will let the London, England-based junior miner increase output at its Ming operation, in production since Nov. 2012 and which has an updated estimated life span of 21 years. Ming was originally expected...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, and software developer Trimble said Friday they are extending their collaboration to bring mining customers improved operational decision-making capabilities.The agreement falls within the framework of an already established relationship between the companies aimed to transform the way mines manage their business, California-based Tr...Read More
Miner and commodities trader Glencore (LON:GLEN) reported Thursday a drop in output for most of the commodities it mines and sells, on the back of ongoing asset disposals, cutbacks at its operations, and bad weather.Glencore now expects slightly better earning before interest for the year - $2.5 billion to $2.7 billion, versus the $2.4 billion to $2.7 billion previously estimated.While prod...Read More
In May Freeport-McMoRan Copper & Gold (NYSE:FCX) announced the sale of its Tenke Fungurume copper mine in the Democratic Republic of the Congo to China Molybdenum (CMOC) for up to $2.65 billion, a crucial part of the Phoenix-based company's debt reduction program.Central to the deal is a right of first offer owned by Toronto's Lundin Mining (TSX:LUN) which through a Bermuda-based company indirec...Read More
Brazil's mining giant Vale (NYSE:VALE), the world's biggest iron ore producer, may reconsider the sale of $10 billion of its best assets by the end of 2017 if market conditions remain favourable, a local media outlet reports.Vale swung to a net profit in the third quarter of the year helped in part by better prices for the commodities it mines, mainly iron ore and nickel.The Rio de Janeiro-based...Read More
World's largest mining company BHP Billiton (ASX, NYSE: BHP) (LON:BLT) sees electric cars as a major ally in boosting demand for copper, by far the poorest performer this year on the London Metal Exchange.The conventional internal combustion engine used in motor vehicles typically contains about 20 kilograms of copper, about half the total used in a hybrid vehicle, Vicky Binns, vice president,...Read More
In early trade on Tuesday copper for delivery in December touched one-month highs with copper futures exchanging hands for $2.2170 per pound ($4,887 a tonne).It was the seventh session in a row of gains for the red metal and the latest leg up was sparked by better than expected economic news out of China, responsible for nearly half the world's copper demand.Source: Singapore ExchangeChinese manu...Read More