By Scott Patterson Swiss mining giant Glencore PLC said it would resume multimillion-dollar payments to a former business partner sanctioned by the U.S. Treasury Department, setting up a test for whether Washington is willing to give Western firms more wiggle room dealing with sanctioned counterparts. Glencore stopped paying royalties to Israeli billionaire Dan Gertler in December after sanction...Read More
By Scott Patterson Swiss mining giant Glencore PLC said it would resume multimillion-dollar payments to a former business partner sanctioned by the U.S. Treasury Department, resolving a thorny legal dispute that threatened to disrupt its operations. Glencore stopped paying royalties to Israeli billionaire Dan Gertler in December after sanctions were imposed for alleged corruption in the Democrat...Read More
By Scott Patterson Swiss mining giant Glencore PLC said it would resume multimillion-dollar payments to a former business partner sanctioned by the U.S. Treasury Department for alleged corruption in the Democratic Republic of Congo, resolving a thorny legal dispute that threatened to disrupt its operations. Glencore stopped paying royalties to Israeli billionaire Dan Gertler in December after th...Read More
By Oliver Griffin Glencore PLC (GLEN.LN) said Friday that it has settled a dispute between its Mutanda Mining Sarl and Kamoto Copper Company SA subsidiaries and companies affiliated with mining magnate Dan Gertler in Congo. In April, Mutanda and KCC were served with freezing orders in Congo for $695 million and $2.28 billion respectively, relating to royalties payments. Gertler-affiliate company...Read More
By Benjamin Parkin and David Hodari Gold prices climbed to the highest close in a month on Thursday as traders turned their attention from central banks to geopolitical tension. Front-month contracts for June delivery rose 0.6% to $1,304 per troy ounce at the Comex division of the New York Mercantile Exchange, the highest close since May 14. The Federal Reserve on Wednesday said it would raise...Read More
By David Hodari LONDON--Gold prices climbed Thursday, as the dollar weakened following the Federal Reserve's decision to raise interest rates late Wednesday. The precious metal was last up 0.40% at $1,304.97 a troy ounce in late morning trade. Copper, meanwhile, fell 0.55% to $7,202 a metric ton, with the whole base metals complex down on fears that Chinese environmental directives may stymie d...Read More
By David Hodari LONDON--Gold prices climbed Thursday, as the dollar weakened following the Federal Reserve's decision to raise interest rates late Wednesday. The precious metal was last up 0.40% at $1,304.97 a troy ounce in late morning trade. Copper, meanwhile, fell 0.55% to $7,202 a metric ton, with the whole base metals complex down on fears that Chinese environmental directives may stymie d...Read More
Michael says the ratio is going decisively to 65 and then to 50, but where he said the ratio is ultimately headed is music to our ears. Here's the details...by Michael Ballanger of Streetwise ReportsBased on the feedback I received over the weekend, I thought a quick follow-up would be in order on the topic of "deviant conundrum" because it was told to me by a wonderfully gifted retired English te...Read More
By Scott Patterson This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (June 13, 2018). Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd., resolving a heated dispute with Congo's state-run mining company...Read More
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2018) - Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to announce that it has entered into a binding agreement to acquire MAG Silver's Zacatecas Silver District holdings. As consideration for the sale, MAG will acquire 5,000,000 common shares of Defiance representing an approximate 5% strategic investment position. De...Read More
By Ira Iosebashvili Gold prices sank Tuesday, weighed down by a stronger dollar. Gold for August delivery closed down 0.3% at $1,299.40 a troy ounce on the Comex division of the New York Mercantile Exchange. The WSJ Dollar Index was recently up 0.3% at 87.24. A strong dollar tends to weigh on gold, which is priced in the U.S. currency and becomes more expensive to foreign investors when the dol...Read More
By Scott Patterson Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd., resolving a heated dispute with Congo's state-run mining company about a massive debt load it has built up over the past decade. Glencore said Katanga Mining will issue $5.6 billion in stock, which it will use to retire debt. The company had...Read More
By Maryam Cockar Rio Tinto said Tuesday that it has appointed Jakob Stausholm to succeed Chris Lynch as chief financial officer. The miner said Mr. Stausholm, who recently stepped down as group CFO of A.P. Moeller-Maersk A/S (AMKBY), will join Rio Tinto as an executive director and take over as CFO on Sept. 3. Mr. Lynch will stand down from the Rio Tinto's board on Sept. 3 and will retire from the...Read More
Marshall sent us his technical work today along with some commentary. He sees a raid coming to gold & silver. Here's the details...Marshall Swing of The Church of ActsI have been watching silver and gold for several days now searching for sell and short indicators.I get the feeling the Commercials have changed tactics a little in their dispersals of their tactics as their obvious preparations for...Read More
Peter KrauthWhile gold waits for a fresh catalyst to find direction, silver's already made a move.The price of silver is up 3.4% in the past week, while gold has trended sideways. The Fed's FOMC meeting this week is what silver investors are watching now.There are strong odds the Fed will announce a rate hike this week. The market is interpreting that as confidence in sustained economic strength a...Read More
"Silver has been money, and currency, longer than gold. The word "silver" actually translates to "money" or vice-versa in many countries". Here's a primer...by Rory Hall of The Daily CoinSilver has been money, and currency, longer than gold. The word "silver" actually translates to "money" or vice-versa in many countries around the world. Any true Christian knows that Judas sold out Jesus Christ f...Read More
SD Friday Wrap: Call it a victory for silver this week, and also call it momentum for going into the next (because silver's gonna need it)...Half Dollar's been bullish lately.Titles of mine this week included:Monday - "These Five Points Say Don't Be Surprised If We Get A Nice Gold & Silver Rally This Week"Wednesday - "Gold & Silver Are Grinding Higher And Confirming The Price Rally Has Begun"On Mo...Read More
Michael Ballanger says if the algos used data going back to 1975, they would not be able to short silver like they do today. Here's more...by Michael Ballanger via Streetwise ReportsWhen I was a young lad, there was a classmate (let's call him "Frankie") in the very early years of my education whose behavior was quite often deemed as "peculiar" and while I found him immensely entertaining, the tea...Read More
"so quiet that you can hear a pin drop, a most unusual situation in this normally rather volatile metal." Here's why that's about to change...by Clive Maund of Streetwise ReportsThe silver market has become so quiet that you can hear a pin drop, a most unusual situation in this normally rather volatile metal. What this means is that there is a big move brewing and probably sooner rather than later...Read More
By Carlo Martuscelli Rio Tinto PLC (RIO.LN) said Thursday that is has signed an agreement to form a joint venture with Minmetals to explore mineral deposits in China. The joint venture, which is equally split between the two parties, will have capital of 200 million yuan ($31.3 million), with an initial contribution of CNY35 million each within six months of the establishment of the joint venture...Read More