(Adds details, CEO comment)By Peter HobsonLONDON, Feb 9 (Reuters) - The London Metal Exchange (LME) was likely to make fee cuts permanent on short- and medium-dated carry trades after volumes on those trades rose in January, despite slightly weaker overall turnover, it said on Friday. The LME cut fees on short-dated carries in October and on medium-dated carries in November in a bid to revive vol...Read More
Canada's top uranium producer Cameco (TSX:CCO) (NYSE:CCJ) injected some optimism in the depressed yellow powder market by posting a better-than-expected quarterly profit, on the back of improved prices and its efforts to cut production to ease a current oversupply.Uranium prices have fallen more than 70% since the Fukushima disaster in 2011, remaining low since then as a result of global glut of...Read More
Trump came out and tried to talk up the dollar.While the "bounce" in the USD has been anemic, the precious metals and mining stocks have reacted very negatively.I don't expect this bull market in gold will be derailed because of these statements, but it could remain under pressure for a bit longer.Eventually, inflation and further increases in interest rates will crush the stock mark...Read More
Endeavour Mining has opened negotiations with local people in Ivory Coast in an effort to head off protests at two gold mines where the company aims to boost production by nearly 4 percent this year, its country manager said on Friday.The Canadian company's Agbaou and Ity mines yielded a combined 236,000 ounces of gold last year, and plan to produce 245,000 in 2018.But operations in Agbaou were re...Read More
Endeavour Mining has opened negotiations with local people in Ivory Coast in an effort to head off protests at two gold mines where the company aims to boost production by nearly 4 percent this year, its country manager said on Friday.The Canadian company's Agbaou and Ity mines yielded a combined 236,000 ounces of gold last year, and plan to produce 245,000 in 2018.But operations in Agbaou were re...Read More
* Premiums in India at $1.5/oz vs $2 last week* Premiums in China at $9-$10/oz vs $6-$8 last week By Nithin ThomasPrasad and Rajendra JadhavBENGALURU/MUMBAI, Feb 9 (Reuters) - Physical gold demand in Asia picked up towards the end of the week, as a pullback in prices spurred purchases ahead of the Lunar New Year in China and the wedding season in India.Spot gold has declined about 1 percent so fa...Read More
* Euro headed for worst week since October* Dollar backs off four-month lows vs yen* Strategists say dollar weakness here to stay* Graphic: World FX rates in 2018 By Tommy WilkesLONDON, Feb 9 (Reuters) - The euro gained against the dollar on Friday but the single currency was still headed for its worst weekly performance since October after the global stock market sell-off squeezed investors betti...Read More
JOHANNESBURG, Feb 9 (Reuters) - South Africa's Northam Platinum Ltd said on Friday it expects a wider mid-year loss despite its Zondereinde and Booysendal mines achieving operating profits.It expects a headline loss per share of 77.6 to 90.5 cents for the six months which ended on Dec. 31 versus a loss of 64.7 cents a year earlier. "The anticipated loss is attributable to the Zambezi Platinum...Read More
Namibia's top diamond producer, Namdeb, a 50/50 joint venture company between the country's government and De Beers it's selling its Elizabeth Bay mine in a move that will affect at least 130 of its 1,700 employees.The announcement comes three weeks after the company wrote to staff offering voluntary redundancies, saying the move sought to ensure the sustainability of Namdeb land-based operations....Read More
VANCOUVER, B.C., Feb.08, 2018(GLOBE NEWSWIRE) -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (Frankfurt:FMG) is ple...Read full newsRead More
But Bitcoin could be so much more than digital gold.Read full newsRead More
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LOVELOCK - An agency that encourages stewardship over prohibition is the Environmental Protection Agency that Administrator Scott Pruitt represented to the Nevada mining industry on Feb. 5.Read full newsRead More
SHANGHAI, Feb 9 (SMM) –Copper: Stock market slump, lower crude oil prices, and a surge in LME copper inventory gave shorts more confidence overnight. We expect LME copper to trade at $6,810-6,880/mt today and SHFE copper at 51,700-52,200 yuan/mt. Weak fundamentals may lead spot premiums lower to 30-40 yuan/mt today.Aluminium: We expect LME aluminium to trade rangebound at $2,158-2,193/mt wit...Read More
SHANGHAI, Feb 9 (SMM) –Copper: Stock market slump, lower crude oil prices, and a surge in LME copper inventory gave shorts more confidence overnight. We expect LME copper to trade at $6,810-6,880/mt today and SHFE copper at 51,700-52,200 yuan/mt. Weak fundamentals may lead spot premiums lower to 30-40 yuan/mt today.Aluminium: We expect LME aluminium to trade rangebound at $2,158-2,193/mt wit...Read More
SHANGHAI, Feb 9 (SMM) –Copper: Stock market slump, lower crude oil prices, and a surge in LME copper inventory gave shorts more confidence overnight. We expect LME copper to trade at $6,810-6,880/mt today and SHFE copper at 51,700-52,200 yuan/mt. Weak fundamentals may lead spot premiums lower to 30-40 yuan/mt today.Aluminium: We expect LME aluminium to trade rangebound at $2,158-2,193/mt wit...Read More
09 February 2018 - Cape Town: The digital age holds out great opportunities for mining companies to reduce risk and improve safety and profitability; SRK Consulting (SA) chairman William Joughin gave delegates at the Investing in African Mining Indaba a taste of what is already being achieved.Speaking as part of the Indaba's Mining 2050 (Technology & Innovation) stream, Joughin highlighted the gro...Read More
All of the nearly 1000 miners trapped in the Sibanye-Stillwater's Beatrix gold mine in South Africa due to a power outage were brought back to the surface.Read full newsRead More
Total gold ETF holdings are at their highest level since May, 2013, and this could be due to a growing interest in commodities in general. Will Rhind, CEO of GraniteShares, told Kitco News that growing interest in gold is driven by two main factors: "weaker U.S. dollar, and more volatility and increasing fears of inflation in the market." Rhind compares gold's recent failure to rally in response...Read More
Here are 3 Hot Things to Know About Stocks Right Now Sectors leading the sharp declines Thursday included industrials, financials and technology.The Dow finished lower for the fourth time in five days, and is down more than 2,700 points from its record high of 26,616.71 on Jan. 26.The Nasdaq finished lower for the ninth time in 11 sessions; the S&P 500 has fallen for the seventh time in the...Read More