Yamana Gold Inc. Inc. (TSX: YRI)(NYSE: AUY)announces that the company has filed an “early warning report” under NationalInstrument 62-103 in connection with Leagold Mining Corp.’s previouslyannounced intention to make an offer to acquire all outstanding common sharesof Brio Gold Inc. In the event Leagold makes an offer, Yamana says it hasagreed to tender its 63 million Brio share...Read More
MAPUTO, Feb 9 (Reuters) - Mozambique's economic growth slowed to 3.7 percent in 2017, official data showed on Friday, compared with a revised 3.8 percent expansion a year earlier. The growth was boosted by the southeastern African country's mining sector, which grew by nearly a third, data from the National Statistics Institute showed. (Reporting by Manuel Mucari; Editing by Kevin Liffey) Disclai...Read More
(Adds analyst's comment)By Alexis Akwagyiram and Chijioke OhuochaLAGOS, Feb 9 (Reuters) - Britain's export finance agency will add the naira to its list of "pre-approved currencies", allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency.The naira will become one of three West African currencies that UK Export Finance has pre-approve...Read More
Gold is still stymied by dollar strength and other factors.Gold mining stock weakness has been a major obstacle for gold.Gold's relative strength (vs. equities) is encouraging, however. In what has been a choppy week of trading, the gold price finally benefited from some safety buying on Thursday. April gold futures rose 0.3 percent to $1,322 on Feb. 8 as global equity markets continued to sho...Read More
ACCRA, Feb 9 (Reuters) - The Bank of Ghana said the yield on its weekly 91-day bill rose to 13.36 percent at an auction on Friday from 13.32 percent at the last such sale, on Feb. 2.The bank said it had accepted all 415.4 million cedis ($93.5 million) worth of bids tendered for the paper, which will be issued on Monday.Ghana's treasury bill yields have fallen to around 13 percent in the past six m...Read More
FRANKFURT, Feb 9 (Reuters) - BMW is close to signing a 10-year supply contract for lithium and cobalt, the company's procurement chief told Germany's Frankfurter Allgemeine Zeitung, amid an industry-wide scramble for raw materials needed for electric car batteries."The aim is to secure the supply all the way down to the level of the mine, for 10 years. The contracts are ready to be signed,&qu...Read More
It's another wild day of trading for U.S. stocks, as recent volatility persists. The Dow Jones Industrial Average (DJI) has traded in a range of more than 500 points on both sides of breakeven, but was last seen modestly lower. After plunging into correction territory yesterday, the index is now pacing for its worst week since October 2008, during the heart of the financial crisis. The S&P 500 Ind...Read More
(Kitco News)- The gold market is ending its secondconsecutive week in negative territory and many investors are asking: Whathappened?Gold’s losses come as equitymarkets fell sharply into corrective territory, with the past week seeing the Dow Jones Industrial Average shedding more than 1,000 points in two sessions.In total, the Dow, last trading at 23,784 points is down more than 6% sincelas...Read More
(Kitco News) - The gold market is ending its second consecutive week in negative territory and many investors are asking: What happened?Gold’s losses come as equity markets fell sharply into corrective territory, with the past week seeing the Dow Jones Industrial Average shedding more than 1,000 points in two sessions. In total, the Dow, last trading at 23,784 points is down more than 6% sin...Read More
* Stocks selloff lends some support to bonds* But sentiment still weak on central bank worries* Euro zone periphery govt bond yields (Updates prices, adds in Greece and BOJ)By Dhara Ranasinghe and Sujata RaoLONDON, Feb 9 (Reuters) - Core euro zone bond yields edged down on Friday as renewed selling in world stocks lent some support to safe-haven debt markets, which themselves have been bruised as...Read More
LONDON, Feb 9 (Reuters) - Curbing the ability of asset managers located in Britain to run funds based in the European Union after Brexit would go against global norms and could fragment markets, Bank of England Deputy Governor Jon Cunliffe said on Friday.The bloc has published guidance on how UK-based asset managers could continue to run funds in the bloc after Britain leaves the EU in March 2019....Read More
* Euro on course for worst week since November 2016* Dollar backs off four-month lows vs yen as safe-haven bids fade* Strategists expect dollar weakness to resume despite rally* Currency market volatility rises less than stocks, bonds (Updates market action, changes dateline, previous LONDON)By Richard Leong and Kate DuguidNEW YORK, Feb 9 (Reuters) - The dollar rose on Friday, putting it on track...Read More
Ontario is partnering with Voyageur Aviation to boost North Bay's aviation sector through an investment to help the company expand its operations at the Jack Garland Airport.Michael Gravelle, Minister of Northern Development and Mines, was in North Bay today to make the announcement. Funding through the province's Northern Ontario Heritage Fund Corporation (NOHFC) will help create 40 jobs and supp...Read More
JOHANNESBURG, Feb 9 (Reuters) - South Africa's Kumba Iron Ore said on Friday it had reversed a 4.8 billion rand ($396 million) pretax impairment charge on its Sishen mine in its 2017 results, following an improved operational performance at the mine.The unit of Anglo American said reversal, net of tax and non-controlling interest, was 2.6 billion rand and would be included in its basic earnings bu...Read More
Peter Wale, director at Strategic Minerals Plc (LON:SML), tells Proactive's Andrew Scott their access to the Cobre magnetite stockpile in New Mexico has been extended until the end of March next year.Wale says the news is a significant development given the fact they're expecting the strong sales which the company achieved last year will continue into 2018. Meet Medusa Mining, Cora Gold, Gro...Read More
* Nvidia jumps after upbeat results, forecast* Expedia slips on disappointing 2018 guidance* Yields on 10-yr U.S. notes end week little changed* Dow down 0.14 pct, S&P and Nasdaq up less than 0.1 pct (Changes comment, updates prices, adds details)By Sruthi ShankarFeb 9 (Reuters) - U.S. stocks indexes were little changed in volatile trading on Friday, after jumping more than 1 percent at the op...Read More
By Kristen HaunssNEW YORK, Feb 9 (Reuters) - A US court ruled on Friday that Collateralised Loan Obligation (CLO) funds should be exempt from the Dodd-Frank financial reform legislation requirement that managers hold some of their fund.The ruling will allow CLOs to save money as they will no longer have to buy some of their fund in order to meet regulators' 'skin in the game' requirements. The US...Read More
(Kitco News) - WallStreet and Main Street continue to have opposing viewpoints on the short-termprice direction of gold, although the difference has narrowed, based on theweekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral Forthe second Friday in a row, the largest Wall Street bloc of voters called forgold to fall over the n...Read More
(Kitco News) - Wall Street and Main Street continue to have opposing viewpoints on the short-term price direction of gold, although the difference has narrowed, based on the weekly Kitco News gold survey. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral For the second Friday in a row, the largest Wall Street bloc of voters called for gold...Read More
(Adds further comments from Orban, background)(.)BUDAPEST, Feb 9 (Reuters) - Hungary will soon sign a 15-year deal to import almost half the natural gas it needs each year from Romania, considerably reducing its reliance on Russia, Prime Minister Viktor Orban said on Friday.Orban told a news conference that three Hungarian companies had won a tender in Romania for the gas. He did not name the com...Read More