Chile's Codelco, the world's top copper producer, plans to introduce key changes to one of its flagship projects - the much-needed underground expansion of its century-old Chuquicamata mine - as lower metal prices call for higher efficiencies.The modifications, filed last week, aim mostly at simplifying some aspects of the project - originally approved in 2010 - to optimize mineral handling, loc...Read More
* STOXX 600 up 0.2 pct* Nokia jumps after settles dispute with Apple* Upgrade boosts Banco BPM* Spanish banks recover (Recasts, adds quotes and detail, updates prices)By Kit ReesLONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent on Tuesday to their highest levels in more than a year, joined by a rise in banking stocks which helped European stock markets edge higher.The pan-European...Read More
(Adds dropped word in headline)LONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent to their highest levels in more than a year and were a standout in an otherwise sluggish open on European stock markets on Tuesday.The pan-European STOXX 600 .STOXX index was little changed in early deals with mining stocks weaker as metals prices slipped. Germany's DAX .GDAXI rose 0.2 percent while e...Read More
Investing.com - Gold prices held near their strongest level in around three weeks in European trade on Tuesday, as investor sentiment skewed toward safe-haven assets after a suspected terrorist attack at a concert in Britain's city of Manchester.Comex gold futures firmed at $1,261.43 a troy ounce by 3:10AM ET (07:10GMT). Meanwhile, spot gold was at $1,261.60. Prices of the yellow metal rose to an...Read More
* Rapid electric vehicle rollout could double copper use* Glencore has low oil exposure, dominant in copper, cobalt* IEA to review oil demand due to India, China EV policy* Glencore copper production to rise to 1.8 mln tonnes/yearBy Barbara LewisZUG, Switzerland, May 22 (Reuters) - OPEC nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil...Read More
* World FX rates in 2017 http://tmsnrt.rs/2egbfVh* Dollar slips to 6-month low* Oil lifted by expectations of continued supply cut* Defense stocks lift Wall Street on U.S.-Saudi arms deal* Gold, copper, zinc and nickel rise (Recasts with dollar falling; adds oil settlement, updates throughout)By Hilary RussNEW YORK, May 22 (Reuters) - The dollar slipped to a more than six-month low on Monday, weig...Read More
An 18-pages long report released today by the London Mining Network slams Antofagasta Minerals' 60%-owned Los Pelambres copper mine, located in the central-northern of Chile in Coquimbo Region.In a move that comes just a couple of days prior to Antofagasta's (LON:ANTO) annual general meeting in London, the document titled In the Valley of the Shadow of Death? A Report on Antofagasta Plc, Minera Lo...Read More
Rio Tinto (ASX, LON:RIO) launched today a $2.5-billion bond buyback plan with the idea of reducing reduce its gross debt.In a press release, the global miner explained that, under the plan, it has issued a redemption notice for approximately $1.72 billion of its 2019 and 2020 US dollar-denominated notes and commenced cash tender offers to purchase up to approximately $781 million of its five 2021,...Read More
Investing.com - Gold prices were modestly higher in European trade on Monday, starting the week off with small gains as investors continued to assess the impact of the latest bout of U.S. political turmoil.Comex gold futures added $1.30, or about 0.1%, to $1,254.92 a troy ounce by 3:55AM ET (07:55GMT). Meanwhile, spot gold was at $1,255.33.Prices of the yellow metal rose to $1,263.20 last Thursday...Read More
April saw 121 financings close in the Canadian financial markets for C$522.7 million including 55 financings for gold totalling $207.3 million, some 40% of the April total. The top 10 gold financings totalled $167.5 million representing 81% of the total indicating that bulk of funds raised for gold projects are concentrated in a relatively small number of deals.#1 Bluestone Resources C80 millionBl...Read More
Investing.com - Gold prices were higher on Friday and notched the largest weekly gain since mid-April as political uncertainty surrounding the Trump administration pressured the dollar lower, boosting demand for the precious metal.Gold for June delivery closed up 0.18% at $1,255.07 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 2.06%.The dollar c...Read More
* Dollar posts biggest weekly fall since Feb 2015* Best week of 2017 for Brent; WTI up 5 pct* Stocks rally on Wall St but end down for the week (Updates to U.S. market close)By Rodrigo CamposNEW YORK, May 19 (Reuters) - The U.S. dollar fell on Friday and was set to close its worst week in more than a year, with losses steepening after reports an investigation into possible collusion between Russia...Read More
Zinc was the best performing commodity on Friday with LME prices ending at $2,616 a tonne ($1.19 a pound), a 3.3% jump on the day, outperforming sector bellwether copper's 2% gain.After today's move zinc is once again in positive territory for 2017, building on a 60% gain last year on the back of dwindling supply and strong demand from the global automotive sector.Donald Lindsay CEO of Teck Resour...Read More
Democratic Republic of Congo's legislators are set to review next week a long-delayed revision to the mining code, which is said to be crucial for the country, as the nation needs the higher revenues a revised legislation would generate.The country's government abandoned plans to change the mining code in February last year, on fears the move would have driven away investors at a time of historica...Read More
The average gold market investor should be quite happy right now. If that's not the case, the investor has likely used price projection analysis as a reason to chase price, and needs to deploy a new set of market tactics.1. The average gold market investor should be quite happy right now. If that's not the case, the investor has likely used price projection analysis as a reason to "chase price", a...Read More
May 19 (Reuters) - Hindustan Copper Ltd HCPR.NS* Hindustan copper - capacity of proposed plant to make copper cathode from sulphide copper concentrate is 100,000 tonne/annum at estimated cost of INR 302.5 million* Says company has initiated process to obtain investment approval from ccea, government. Of india Source text - Further company coverage: HCPR.NSRead More
Even though management announced in April that its iron ore shipments from the Pilbara region were down 13% in the last quarter, Rio Tinto (ASX, LON:RIO) sent out a press release today stating that it will reduce the payment terms for smaller suppliers to 30 days in a bid to improve cash flow for those businesses.The change will be effective as of July 1, 2017, and will apply to more than 5,500 Au...Read More
An NGO based in the southern Bol?-var state is calling the Venezuelan government to kill the 2016 decree that creates the Mining Arch of the Orinoco River National Development Strategic Zone. This is a 111,843 Sq.Km concession area for mining gold, diamond, iron, copper, bauxite, coltan, among other resources, that has caught the attention of some 150 companies from 35 countries.According to the O...Read More
While Beijing's One Belt, One Road initiative is much grander in scale, the controversial infrastructure program to create a Eurasian trading route is already running into trouble.In contrast, the success of Chinese President Xi Jinping's other grand project is almost a certainty.On April 1, Xi announced a state-level plan to transform a backwater called Xiongan, located 110km south of Beijing and...Read More
Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") reports that its wholly-owned subsidiary, Alaska-based Pebble Limited Partnership ("Pebble Partnership" or "PLP") announced today it has received commitments from five prominent Alaskan and national figures to serve as founding members of an Advisory Committee formed to provide independent, external advi...Read More