By Amrith Ramkumar and David Hodari Gold prices inched higher Monday, stabilizing after tumbling alongside other commodities Friday amid worries about trade tensions and higher interest rates. Front-month gold for June delivery closed up 0.1% at $1,276.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices hit their lowest level of the year Friday, failing to get a hav...Read More
Front-month copper for June delivery shed 1.2% to $3.1035 a pound. "Gold Stabilizes After Friday Tumble" at 15:18 ET, incorrectly stated the price fell 123% in the 7th paragraph. (June 18, 2018) Read More
By Amrith Ramkumar and David Hodari Gold prices inched higher Monday, stabilizing after tumbling alongside other commodities Friday amid worries about trade tensions and higher interest rates. Front-month gold for June delivery closed up 0.1% at $1,276.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices hit their lowest level of the year Friday, failing to get a hav...Read More
By Amrith Ramkumar and David Hodari Gold prices inched higher Monday, stabilizing after tumbling alongside other commodities Friday amid worries about trade tensions and higher interest rates. Gold for August delivery was recently up 0.2% at $1,281.60 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices hit their lowest level of the year Friday, failing to get a haven-d...Read More
More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries' governments, further cementing China's ascendancy in copper and cobalt production in the central African nation.The 35-member Union of Mining Companies with Chinese Capital will facilitate "communication and exchange between the Chinese mining companies and the governme...Read More
Trading activity in the seaborne coking coal market was muted on Monday June 18, with the top spot buyer China on holiday. On Monday, the Queensland Resources Council (QRC) said the industry was urging the state's rail freight operator Aurizon to, "return to normal maintenance practices and as a monopoly infrastructure provider, make its case to the regulatory and the industry [body]." Earlie...Read More
Base metals on the London Metal Exchange were mostly higher during morning trading on Monday June 18, despite pressure from another surge in the US dollar index. Lead's three-month price has kept firm above $2,400 per tonne, trading 1% higher since Friday's close,. The curtailment of treatment charges (TCs) in China - at records lows of $15-25 per tonne - as well as ongoing supply disruptions...Read More
SHANGHAI, Jun 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs US-Sino trade tension grew, the appetite for risk shrank and suppressed the increase in the US dollar index on Monday. The index closed at 94.742 on Monday.LME metals saw mixed trading on Monday. LME lead rose 1.27%, aluminium gained 0.72% while nickel dropped 1...Read More
Desert Hawk is a US subsidiary of Meadow Bay Gold Corp (CSE: MAY), which owns the Atlanta project said to have produced 110,000 ounces of gold and 800,000oz of silver between 1975-1985.Read More
Investing.com - Gold prices were modestly higher on Monday but remained near a 6-month low, as worry over trade remained in focus.Comex gold futures for August delivery were up 0.21% to $1,281.20 a troy ounce as of 10:28 AM ET (14:28 GMT).On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. China promptly retaliated with...Read More
Among the highlights, TMAC hit 0.66m at 2,710g/t gold, within a broader 7.1m at 261.4g/t at Doris North BTD; and 50m at 12.9g/t at Madrid North.The company said despite only C$8 million (US$6 million) budgeted for drilling in 2018, it had reported "significant success thus far".The same day, TMAC also announced record processing plant results at Hope Bay for May and plans to improve its balance sh...Read More
Atlas shares closed at 3.6c on Friday and traded as high as 4.6c last Wednesday amid corporate interest by Mineral Resources, Hancock and Fortescue Metals Group.Hancock said its offer represented a superior value proposal for Atlas shareholders relative to the previously announced scrip takeover by Mineral Resources, representing a 41% premium to the implied value of the MinRes proposal as of clos...Read More
In an exclusive interview with Mining Journal, Russian-born businessman and Chaarat director Artem Volynets said he hoped Centerra management "will take its head out of the sand and start negotiating".Read More
The mining sector on London's FTSE100 index ended more than 4% lower on Friday.Among the diversifieds, Rio Tinto (LSE: RIO) had closed down 4.15%, Glencore (LSE: GLEN) was down 4.32% and Anglo American (LSE: AAL) was 4.24% lower.Gold miner Randgold Resources (LSE: RRS) also fell, closing down 3.94%, and copper producer Antofagasta (LSE:ANTO) was off 4.13%.BHP was less impacted in Australian trade...Read More
Lucapa and its partners, Empresa Nacional de Diamantes and Rosas & Petalas, said the sale of the alluvial diamonds recovered from mining blocks four and six generated an average price of $1,150 per carat.The sale took the gross sales proceeds from Lulo so far this year to $15.9 million at an average price of $1,642/ct.The sale excluded a number of large white specials stones and a coloured spe...Read More
According to Credit Suisse's analysis, a potential 1.6 million tonnes of additional copper production is on the cards from significant development in the period 2020-2022, an amount that's somewhere in the order of double what was previously being factored-in for that timeframe.Read More
The latest metals news and price moves to start the North American day on Monday June 18.Base metals on the London Metal Exchange were mostly higher during morning trading on Monday June 18 despite pressure from another surge in the dollar index.Here's how...Read More
Chile's antitrust regulator FNE has launched a probe into Tianqi's recent acquisition of a stake in Chemical and Mining Society (SQM), the world's second largest lithium producer, to determine the possible effects on the market.Chinese miner Tianqi Lithium, the Asian nation's largest producer of the white metal, purchase last month a 24% stake in Chile's SQM from Canada's Nutrien (TSX:NTR), furt...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.1 pct* Cobham jumps 6 pct on MS upgrade* Indivior gains as U.S. court blocks generic drug* Energy stocks stage turnaroundBy Helen ReidLONDON, June 18 (Reuters) - Britain's top stock index fell on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe.T...Read More
South32 will acquire the remaining 83% stake in junior zinc miner Arizona Mining for $1.3 billion in cash, the company said on Monday June 18. At an offer price of C$6.20 ($4.70) per share, South32 will pay a 50% premium over the Arizona Mining closing price on Friday June 15, it said. Arizona mining is the owner of the greenfield Hermosa project, which includes a zinc-lead-silver sulfide deposit...Read More