Azerbaijan-focused miner Anglo Asian Mining (LON:AAZ), the country's top gold producer, has swung back to profit and sharply reduced outstanding debt on the back of higher copper output and a better bullion prices.The London-listed miner doubled its copper production from 969 tonnes to 1,941 tonnes last year, thanks mainly to the first full-year of production from a new flotation plant. Silve...Read More
History never repeats itself, but often it does have a habit of rhyming. Looking at the posturing going on in the London Stock Exchange this week, it seems that observation is as true as ever.History never repeats itself, but often it does have a habit of rhyming. Looking at the posturing going on in the London Stock Exchange this week, it seems that observation is as true as ever. One of London's...Read More
Investing.com - Gold prices were higher in European trade on Thursday, staying near the strongest level in around three weeks as the U.S. dollar slipped after the Federal Reserve signaled a cautious approach to future rate hikes and the reduction of its $4.5 trillion balance sheet.Comex gold futures rose $5.00, or around 0.4%, to $1,258.07 a troy ounce by 2:35AM ET (06:35GMT). Meanwhile, spot gold...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
With OPEC agreeing to roll over production for nine more months, our 2017 oil price forecast of US$55/bbl for Brent is largely unaffected. But as fundamentals tighten in the second half of 2017, we believe a firmer oil price will further support the US tight oil industry."Today's decision in Vienna sends a signal of continued support for oil prices from OPEC, which helps US onshore drillers make p...Read More
Lately I have read dozens of pieces speculating on the timing of a transition of automobiles from human-driven oil based combustion engine-powered to computer-controlled battery-powered machines. We know it will happen and the guesses as to timing are getting closer and closer. What should be obvious is that one of the most important technological advances in history is taking place right under...Read More
Tom Beck, senior editor of Portfolio Wealth Global, says in times of rate hikes, industrial metals rise fastest, and in today's world, the type of metals in highest demand by China are going to rise the most.For close to 35 years, we've seen a tremendous amount of changes in our world: mobile phones, now turning into smartphones, the Internet, which brought entire industries down and birthed new o...Read More
Tanzanian President John Magufuli has fired his mining minister after results of an audit of containers carrying ore published Wednesday showed exports had been understated.Minister Sospeter Muhongo was not the only casualty of the investigation, as the President also show Dominic Rwekaza, chief executive of Tanzania Minerals Audit Agency, the door and asked authorities to investigate those respon...Read More
* STOXX 600 up 0.1 pct* Banco BPM rise on talk of bad loans sale* But Deutsche Bank drops after U.S. request* Fiat falls on emission bill worries* Dixons, Britvic rise after results (Adds details, closing prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in banks and big o...Read More
By Gul YusufzaiQUETTA, Pakistan, May 24 (Reuters) - Pakistan has arrested a Taliban militant leader authorities describe as the "mastermind" behind three major attacks in Baluchistan, a spokesman for the government of the restive southwestern province said on Wednesday.Militant and separatist violence has long riven Baluchistan, which has rich reserves of natural gas, copper and gold, and is at th...Read More
* STOXX 600 up 0.2 pct* Oil stocks, banks lend support* Fiat falls after U.S. lawsuit* Glencore dips, makes approach to Bunge (Adds quotes and detail, updates prices)By Kit ReesLONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in oil producers was offset by weakness in mining and autos stocks...Read More
LONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, fought for direction in early deals on Wednesday as weakness in mining and autos sectors were offset by strength in oil producers.The pan-European STOXX 600 .STOXX index edged up 0.1 percent, underpinned by a rise in European oil & gas stocks .SXEP . Britain's FTSE 100 .FTSE rose 0.1 percent while Ger...Read More
(Adds details, comments, share movement)May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L on Wednesday posted a 36.6 percent rise in its full-year core profit, driven by firmer commodity prices, but failed to meet analyst expectations.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31, missing analy...Read More
Investing.com - Gold prices were lower in European trade on Wednesday, as investors looked ahead to minutes of the Federal Reserve's latest policy meeting due later in the global day for further hints on the timing of the next U.S. rate hike.Comex gold futures shed $6.20, or around 0.5%, to $1,249.21 a troy ounce by 3:25AM ET (07:25GMT). Meanwhile, spot gold was at $1,249.52.Prices of the yellow m...Read More
May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L said its full-year core profit surged 36.6 percent, driven by firmer commodity prices.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31 from $2.34 billion last year. which produces iron ore, copper, aluminium, zinc and oil, said revenue rose 7.3 per...Read More
COURTESY OF SITE SKILLS TRAINING-CLARK.Mothers will do everything to ensure a bright future for their children.For Ofelia Magastino, in her middle age, she took a job unusual to women in her village in the Philippines where they take care of the personal needs of their children at home and accompany the husband when he is engaged on certain gardening tasks, which women in other villages do not do....Read More
Zijin Mining Group paid Canada's Ivanhoe Mines (TSX:IVN) Tuesday the fifth and final instalment of a $412 million deal that gives the Chinese mining giant a 49.5% stake in the Kamoa-Kakula copper project in D.R. Congo, thought to be Africa's most significant deposit of the red metal ever found.The Kamoa-Kakula project is thought to be Africa's most significant copper deposit ever found.State-ow...Read More