A former millwright with Copper Mountain Mining Corp. (TSX:CMMC) is suing the company for wrongful dismissal, claiming he and others labelled "union sympathizers" were harassed and bullied in a "highly poisonous work environment."Plaintiff Gordon MacMillan filed a notice of civil claim in BC Supreme Court on January 19. He claims he was constructively dismissed in November 2017 after six years wit...Read More
A former millwright with Copper Mountain Mining Corp. (TSX:CMMC) is suing the company for wrongful dismissal, claiming he and others labelled "union sympathizers" were harassed and bullied in a "highly poisonous work environment."Plaintiff Gordon MacMillan filed a notice of civil claim in BC Supreme Court on January 19. He claims he was constructively dismissed in November 2017 after six years wit...Read More
MUMBAI, Feb 8 (Reuters) - India has imposed a limit on the amount of sugar that mills can sell in the market during February and March, according to a government order late on Thursday, as the world's second biggest producer tries to prop up prices of the sweetener.At the end of February mills need to be holding as inventory at least 83 percent of the opening stock from January and February's prod...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
CAPE TOWN, Feb 8 (Reuters) - Mining is a long-term game, but in southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year.Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of Cyril Ramaphosa as head of South Africa's ruling ANC heralds the looming end...Read More
* Dow sinks another 500 points* 10-year bond yields creep up to near four-year highs* Weekly jobless claims fall to lowest level in nearly 45 years* Volatility measure VIX eases but remains elevated at 29.82* Dow -2.01 pct, S&P -1.65 pct, Nasdaq -1.83 pct (Updates to early afternoon)By Tanya AgrawalFeb 8 (Reuters) - The Dow Jones Industrial Average sank another 500 points on Thursday as a rene...Read More
(Bloomberg) - Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn't always better."One of the reasons the majors have failed over the years is they've built such large corporate teams that the decision-making processes within those organizations is so slow," Chief Executive Officer Sebastien De Montessus said in an interview in Cape Town. "Being able to rem...Read More
WASHINGTON, Feb 8 (Reuters) - New York Federal Reserve President William Dudley said on Thursday that as long as the U.S. economy continues to grow above trend this year, he would be in favor of another interest rate rise at the U.S. central bank's upcoming meeting in March."As long as I am comfortable the economy continues to grow at an above-trend pace at a time that I think monetary policy...Read More
(Bloomberg) - Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn't always better."One of the reasons the majors have failed over the years is they've built such large corporate teams that the decision-making processes within those organizations is so slow," Chief Executive Officer Sebastien De Montessus said in an interview in Cape Town. "Being able to rem...Read More
CAIRO, Feb 8 (Reuters) - Average yields on Egypt's six-month and one-year treasury bills fell on Thursday, data from the central bank showed, extending a decline that has taken yields to their lowest levels since the country floated its currency in late 2016.The yield on the 182-day bill fell to 17.358 percent from 17.611 percent at the last similar auction, and the yield on the 357-day bill fell...Read More
(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