An investor in Hudbay Minerals Inc. wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won't pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter.Waterton Global Resource Management has expressed its concerns to Hudbay Chairman Alan Hibben, telling him that it would reserve...Read More
An investor in Hudbay Minerals Inc. wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won't pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter.Waterton Global Resource Management has expressed its concerns to Hudbay Chairman Alan Hibben, telling him that it would reserve...Read More
An investor in Hudbay Minerals Inc. wants to meet with the Toronto miner to discuss replacing members of its board, as well as to seek assurances it won't pursue acquisitions or joint venture without consulting shareholders, according to a person familiar with the matter.Waterton Global Resource Management has expressed its concerns to Hudbay Chairman Alan Hibben, telling him that it would reserve...Read More
Activist group Ecologists in Action and other organizations visited the European Parliament in Brussels and demanded the closure of all active mines in Spain.Backed by left-wing MP Xabier Benito, the environmentalists organized a conference titled "Mining in Europe: the new extractive challenge." At the forum, they said that mining activities, which in their view have been experiencing a boom in S...Read More
Activist group Ecologists in Action and other organizations visited the European Parliament in Brussels and demanded the closure of all active mines in Spain.Backed by left-wing MP Xabier Benito, the environmentalists organized a conference titled "Mining in Europe: the new extractive challenge." At the forum, they said that mining activities, which in their view have been experiencing a boom in S...Read More
The bull market could be nearing its end, and a new panic is approaching.The U.S. Mint just issued a troubling report.It appears that sales of physical gold and silver are in full collapse.At the Mint, U.S. Gold Eagle coins sold through August have dropped 18% compared to last year.And sales of U.S. Silver Eagle coins fell a whopping 32.6% in August 2018 compared to August 2017.What exactly is go...Read More
MOSCOW, Oct 18 (Reuters) - The Russian rouble weakened onThursday, under pressure from a stronger dollar and lower oilprices.The dollar gained against its major peers after minutes ofthe Federal Reserve's September meeting signalled that interestrates will rise further this year.At 0730 GMT, the rouble was 0.35 percent weaker against thedollar at 65.73 and had lost 0.38 percent totrade at 75.58 ve...Read More
Christopher Lewis21 hours agoSilver markets continue to be very choppy and sideways, and therefore a bit undecided. I think at this point we are just simply deciding whether or not the recent gains are justifiable. If the US dollar strengthens, that will probably drive down the price of silver, perhaps down to the $14.50 level. The alternate scenario of course is that we rally, but I think the $15...Read More
JOHANNESBURG, Oct 18 (Reuters) - South Africa's randretreated early on Thursday after minutes from the U.S. FederalReserve's September meeting struck a hawkish tone, draining someof the enthusiasm for emerging currencies that lifted the localunit to a two-week peak.* At 0640 GMT the rand was 0.26 percent weaker at 14.2900per dollar, having risen to 14.1050, its best since Oct. 1, asthe New York se...Read More
"Overall, we have been technically breaking above the previous highs, so it will be difficult for gold prices to move below that," said ABN AMRO analyst Georgette Boele.Monday's global stock market sell-off has added appeal to gold, helping the metal to a two-and-a-half-month peak of $1,233.26.Published 23 Hours AgoUpdated6 Hours AgoReuters Gold edged higher on Thursday, supported by an improved t...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average fell on Wednesday after shares of International Business Machines Corp. (IBM) slumped as the tech giant posted a third-quarter revenue miss.Netflix Inc. (NFLX) rose 3.3% after third-quarter subscriber growth beat analysts' expectations.Abbott Laboratories (ABT) fell 1.6% after i...Read More
Base metals prices on the London Metal Exchange were mostly trading lower at the close on Wednesday October 17, with sentiment in the market weakening, but zinc continued to outperform. Three-month lead, aluminium and tin prices all started the day in positive territory but weakened this afternoon, while nickel was down 1.2% due to a lack of directional news for the near term. Aluminium prices dip...Read More
Fastmarkets MB's nickel premiums were stable across all regions in the week to Tuesday October 16 in quiet trading conditions after the London Metal Exchange Week. Premiums in China were steady due to a closed import window and stock overhang. European premiums were unchanged following the annual gathering of the metals market in London for LME Week. Nickel premiums in the United Stat...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Key data from the Wednesday October 17 pricing session in Europe. Key drivers The European ferro-titanium price range dropped again, extending price losses from the previous week on persistently low demand, which is encouraging cheaper offer prices. Some dealers are away due to holidays in Europe, which has cooled trading activity. Reported trades...Read More
Several zinc and lead mining and smelting companies have been targeted for secondary sanctions by the United States Treasury over alleged ties to paramilitary organizations. Companies including Bandar Abbas Zinc Production Co, Calcimin, Iran Zinc Mines Development Co and Qeshm Zinc Smelting and Reduction Co - all producers of zinc concentrates and ingots - have been targeted. These organizations a...Read More
China's unwrought copper and copper product imports hit a two-year high in September, driven by an open import arbitrage window and market participants replenishing copper inventories amid low stockpiles in Shanghai-bonded and Shanghai Futures Exchange (SHFE) warehouses.China's unwrought copper and copper products imports in September increased by 24% month on month and 21% year on year to 521,000...Read More
Global copper premiums were broadly steady in the week ended Tuesday October 16, with market participants primarily focused on long-term contract negotiations that took place during LME Week in London. In China, Shanghai copper premiums retreated on rising inflows of the metal into the country and a closed arbitrage window. In news, Sterlite Copper's Tuticorin brands of cathode are likely to remai...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 17, but a rise in the value of the Turkish lira and market rumors about changes to US import tariffs helped prices, according to market participants.The Turkish lira has continued to pick up this week, and was trading at TRY100 to $17.38 on October 17, up from TRY100 to $17.01 on October 15, according to Oanda.com.No deep-s...Read More