(Adds Mitsui statement, background)Jan 29 (Reuters) - Japan's Mitsui & Co has made a $481 million offer to buy Australia's AWE Ltd , trumping bids from two other companies that are all vying for a stake in the promising onshore Waitsia gas field.The Mitsui offer of A$0.95 per share in cash, or about A$594 million, is at an 11.8 percent premium to the closing level of AWE stocks on Thursday.It...Read More
Jan 29 (Reuters) - Australia's AWE Ltd said on Monday it received a takeover offer from Japan's Mitsui & Co for about A$594 million ($481.38 million), or A$0.95 per share in cash, in an off-market bid for the company.AWE said in a statement that the Mitsui proposal was subject to, besides other conditions, the company terminating its scheme implementation agreement with Mineral Resources by t...Read More
(Adds detail, quote, meeting with U.S.' Perry)MOSCOW, Jan 27 (Reuters) - Newly-imposed U.S. sanctions against two Russian energy ministry officials are "unlawful" and Moscow will seek explanations from Washington, Russian Energy Minister Alexander Novak said on Saturday, according to local news agencies.The United States added Russian officials and energy firms to a sanctions blacklist...Read More
(Adds background, details)WASHINGTON, Jan 26 (Reuters) - In a surprise move, the U.S. Environmental Protection Agency reversed itself on Friday and halted the approval process for the proposed Pebble Mine copper and gold mine project in southwest Alaska's Bristol Bay region."It is my judgment at this time that any mining projects in the region likely pose a risk to the abundant natural resou...Read More
Traders and investors that follow gold and the US dollar were participants in a virtual roller coaster ride this week as conflicting versions of the current administration's policy on the US dollar surfaced. Statements made by Stephen Mnuchin the Treasury Secretary on Wednesday sent gold prices sharply higher, and the US dollar index sharply lower. The dollar index lost roughly 1% in value, and go...Read More
(Kitco News) - Participants in the weekly Kitco News gold survey look for gold to keep rising next week, with traders and analysts citing the softer tone in the U.S. dollar. Wall Street Bullish Bearish Neutral VS Main Street Bullish Bearish Neutral The greenback fell sharply this week after U.S. Treasury Secretary Steven Mnuchin said a softer U.S. dollar was good...Read More
Like most American males, I enjoy NFL Playoff football and have been an avid New England Patriots fan since I was a kid. Weather you love them or hate them, they have provided a very well-played AFC Championship game the past seven consecutive seasons. Unfortunately for mining junkies such as myself, the game is always played on the first day of the Vancouver Resource Investment Conference (VRIC),...Read More
(Kitco News) - Gold and silver markets have seen some profit-taking pressure from the shorter-term futures traders after solid gains scored earlier this week. The metals did not show a big reaction to the just-released U.S. GDP report that was a miss to the downside. February Comex gold futures were last down $11.80 an ounce at $1,351.40. March Comex silver was last down $0.22 at $17.395 an ounce....Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
A funny thing happened on the way to new highs. On Thursday, gold looked like it was going to break out the upside and take out the highs on its way to $1,400. Suddenly without warning, the markets reversed and went from up $8 to down $14. This is known as a key reversal, which is an indication that the top of this move is in. With the dollar crashing, equities going parabolic for some reason at 1...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Copper: LME copper remains strong on continued increase of inventory. SHFE copper is expected to trade at 53,000-54,000 yuan/mt and spot discounts are to move at 100-50 yuan/mt supported by stockholders.Zinc: LME zinc performed strongly supported by firm fundamentals, and is expected to trade at $3,435-3,485/mt while SHFE zinc is expected to trade at 26,000-2...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Copper: LME copper remains strong on continued increase of inventory. SHFE copper is expected to trade at 53,000-54,000 yuan/mt and spot discounts are to move at 100-50 yuan/mt supported by stockholders.Zinc: LME zinc performed strongly supported by firm fundamentals, and is expected to trade at $3,435-3,485/mt while SHFE zinc is expected to trade at 26,000-2...Read More
SHANGHAI, Jan 26 (SMM)? 1/4 ?Copper: LME copper remains strong on continued increase of inventory. SHFE copper is expected to trade at 53,000-54,000 yuan/mt and spot discounts are to move at 100-50 yuan/mt supported by stockholders.Zinc: LME zinc performed strongly supported by firm fundamentals, and is expected to trade at $3,435-3,485/mt while SHFE zinc is expected to trade at 26,000-2...Read More
The latest news and price moves to start the Asian day on Friday January 26.Base metals prices on the London Metal Exchange were on divergent paths at the close on Thursday January 25, with the weak dollar still the key supportive factor. Nickel and tin each rose by more than 1.3% on the day. Read more in our live futures report.Here is how prices looked at Thursday's close:Rio Tinto Plc is i...Read More
The latest news and price moves to start the Asian day on Friday January 26.Base metals prices on the London Metal Exchange were on divergent paths at the close on Thursday January 25, with the weak dollar still the key supportive factor. Nickel and tin each rose by more than 1.3% on the day. Read more in our live futures report.Here is how prices looked at Thursday's close:Rio Tinto Plc is i...Read More
Base metals prices on the London Metal Exchange closed the week on divergent paths, with most metals on a strong footing after a week of intense rallies.The three-month tin price hit its highest since November 2016 after it hit a high of $21,895 per tonne - record low stocks and restocking ahead of Lunar New Year (mid-February) have kept tin prices well supported."With barely 1,800 tonnes of LME s...Read More
Nickel prices on the London Metal Exchange have climbed 10% since the start of 2018 - with the dollar the main supporting factor of the rise, the spotlight is being shone on the nickel price's extreme volatility. On Thursday January 25, nickel closed on the LME in positive territory for the sixth consecutive trading day and was trading at a two-and-a-half-year high of $13,915 per tonne. The last t...Read More
China imported 1.28 million tonnes of lead concentrates and ores in 2017, down 9.33% from a year ago, according to customs data. Lead concentrate and ores imports in December dropped 28.7% year on year to 83,167 tonnes. A recent study by the research arm of Jiangxi Copper said China was facing a lead concentrates deficit of 210,000 tonnes in 2017. China imported no lead concentrates from North Kor...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets in the week from Monday January 22 to Friday January 26.Base metalsSingaporean trading house Kyen Resources is opening a London office to expand its operations into Europe and will trade base metals, starting with aluminium and concentrates.Freeport-McMoRan reported a strong finish to 2017, with net incom...Read More
China imported 1.28 million tonnes of lead concentrates and ores in 2017, down 9.33% from a year ago, according to customs data. Lead concentrate and ores imports in December dropped 28.7% year on year to 83,167 tonnes. A recent study by the research arm of Jiangxi Copper said China was facing a lead concentrates deficit of 210,000 tonnes in 2017. China imported no lead concentrates from North Kor...Read More