(Bloomberg) - Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51 percent owned by black citizens of the country.The government wants companies to show they have a plan to achieve compliance before it will consider granting waivers, Mines Minister Winston Chitando said in an interview in Cape Town Wednesday."Com...Read More
BOGOTA, Feb 8 (Reuters) - The largest union at Colombia's top coal mine Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday.Cerrejon accounts for 37 percent of Colombia's coal output, the world's fifth-largest exporter of the mineral, and a strike likely would have affected exports.The two sides had returned to talks after a la...Read More
BOGOTA, Feb 8 (Reuters) - The largest union at Colombia's top coal mine Cerrejon has reached an 11th-hour salary and benefits deal with the company, avoiding a strike, the union said on Thursday.Cerrejon accounts for 37 percent of Colombia's coal output, the world's fifth-largest exporter of the mineral, and a strike likely would have affected exports.The two sides had returned to talks after a la...Read More
(Corrects weight of other diamond to 118, not 163, carats in second paragraph and specifies throughout this is private sale, not auction.)LONDON, Feb 8 (Reuters) - A flawless diamond, the size of a large strawberry, is expected to fetch a world record price when it comes to market at Sotheby's in London this month.Weighing just over 102 carats, the round, brilliant white stone is smaller than a 1...Read More
Feb 8 (Reuters) - Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder.The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk, told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO.Maslovskiy resi...Read More
Feb 8 (Reuters) - Russian gold miner Petropavlovsk named Roman Deniskin as its chief executive on Thursday, following the resignation last year of its long-time CEO and co-founder.The appointment comes less than a month after Kazakh businessman Kenges Rakishev, who owns a 22 percent stake in Petropavlovsk, told Reuters that he wanted to bring back co-founder Pavel Maslovskiy as CEO.Maslovskiy resi...Read More
NEW YORK, Feb 8 (Reuters) - Two more managing directors left Goldman Sachs Group Inc last week, a company spokeswoman said, adding to a string of departures by key commodities traders after the Wall Street firm reported a sharp drop in 2017 trading revenue.Reuters reported last month that several traders, including Don Casturo, operating chief of global commodities, left Goldman Sachs as the firm...Read More
* Aluminium touches lowest in six weeks* GRAPHIC-2018 asset returns: * LME/ShFE arb: (Updates with closing prices)By Eric OnstadLONDON, Feb 8 (Reuters) - Copper extended its downtrend on Thursday, touching its lowest in nearly eight weeks, after another big rise of inventories highlighted that the market currently has healthy supplies.On-warrant copper inventories in warehouses certified by the Lo...Read More
Gold's short-term prospects have diminished, but all is not lost.Even as the dollar strengthens, gold's 2-year recovery remains intact.CRB raw industrials index holds the key to gold's longer-term future.After an impressive upside run over the last several weeks, the price of gold is showing weakness once again. This has caused participants to wonder how much lower the gold price must...Read More
* Higher U.S. Treasury yields underpin dollar* Dollar rebound likely unsustainable this year - poll* Dollar likely in bear market correction-analysts* Graphic: World FX rates in 2018 (Recasts, updates prices, adds comment, FX table, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 8 (Reuters) - The dollar hit two-week highs against a basket of currencies in choppy...Read More
U.S. stocks have shed early gains, with the Dow Jones Industrial Average (DJI) down nearly 400 points at midday. Rising Treasury yields are once again in focus, with Caterpillar (CAT) and Intel (INTC) stocks weighing the most on the Dow, and Apple (AAPL) the only blue chip in the black. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sharply lower, in yet another volatile day of trad...Read More
Exchange operator Cboe Global Markets Inc (NASDAQ:CBOE) was one of the biggest losers in the recent market pullback, with J.P. Morgan Securities yesterday suggesting the historic drop in leveraged volatility ETNs will hurt trading volumes going forward. The brokerage firm cited a similar development in 2011 when volatility spiked and VIX trading volumes declined substantially afterward. As such, t...Read More
The price of copper regained its footing and iron ore prices continued the climb on Thursday after customs data showed imports of raw materials by China stayed robust in January after a strong 2017.In brisk trading New York Comex copper for delivery in March were flat compared to Wednesday settlement price trading at $3.0855 a pound ($6,802 per tonne). Copper is still down sharply for the week aft...Read More
(Kitco News) - Gold and silver prices are holding modest gains inlate-morning action Thursday. The metals are seeing a bit of benefit from U.S.stock indexes that are trading solidly lower on the day, in still-volatileconditions. Still, gains in the metals are being limited by a stableU.S. dollar index after its good gains scored earlier this week. April gold waslast up $2.80 at $1,317.40. March si...Read More
DENVER, /CSRwire/ - Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) has been recognized for top performance in the mining sector in The Sustainability Yearbook 2018. The Yearbook is published by RobecoSAM, a sustainability investment firm that manages one of the most comprehensive databases of financially material sustainability information in the world. RobecoSAM's assessment...Read More
DENVER, /CSRwire/ - Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) has been recognized for top performance in the mining sector in The Sustainability Yearbook 2018. The Yearbook is published by RobecoSAM, a sustainability investment firm that manages one of the most comprehensive databases of financially material sustainability information in the world. RobecoSAM's assessment...Read More
* ECB calls for broad regulation of virtual currencies* Initial Coin Offerings also need to be controlled* Momentum for global coordination building ahead of G20 (Adds detail, quotes, background)By Marc Jones and Alasdair PalLONDON, Feb 8 (Reuters) - Cryptocurrencies like bitcoin and the banks and financial firms that trade them need to be more closely regulated, one of the ECB's top policymakers...Read More
JOHANNESBURG, Feb 8 (Reuters) - South Africa's Gold Fields said on Thursday it expects full-year profit to fall as much as 12 percent due to impairments and increased amortisation cost at its mines.The bullion miner flagged headline earnings per share - the main gauge of profit in South Africa - of $0.23 to $0.26 per share for the year ended Dec. 31, 2017, or between unchanged and up to 12 percent...Read More
JOHANNESBURG, Feb 8 (Reuters) - South Africa's Gold Fields said on Thursday it expects full-year profit to fall as much as 12 percent due to impairments and increased amortisation cost at its mines.The bullion miner flagged headline earnings per share - the main gauge of profit in South Africa - of $0.23 to $0.26 per share for the year ended Dec. 31, 2017, or between unchanged and up to 12 percent...Read More
SAO PAULO, Feb 8 (Reuters) - Latin American equities fell on Thursday, as local markets continued to mirror global caution following a sell-off in North America and Europe, while fears of more restrictive regional monetary policy also took a toll.Mexico's IPC was the region's biggest loser, falling 0.84 percent, while Chile's blue-chip IPSA index and Colombia's IGBC both fell 0.4 percent. Brazil's...Read More