LONDON, Oct 12 (Reuters) - Donald Trump didn't make it to LME Week, the annual jamboree of the global metals trading community.But the U.S. president was the hot topic at the myriad seminars, cocktail parties and private meetings across London this week.The industrial metals traded on the London Metal Exchange (LME) have found themselves at the heart of the escalating trade tensions between the U...Read More
BEIJING, Oct 12 (Reuters) - China's unwrought copper imports surged to their highest in 2-1/2 years in September, while copper concentrate imports climbed an all-time high as the world's top copper consumer's crackdown on scrap leaves it needing other forms of the metal.China's imports of copper, which include anode, refined, alloy and semi-finished copper products, rose 24 percent from August to...Read More
Chile's state miner Codelco, the world's No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second la...Read More
* Wall Street dips again, pulling crude futures down* U.S. crude stocks up by 6 mln barrels -EIA* Gulf of Mexico oil output cut by 40 pct on Hurricane Michael (Updates with settlement prices; adds commentary, market activity)By Stephanie KellyNEW YORK, Oct 11 (Reuters) - Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearis...Read More
(Updates with details, adds stocks move, quote)By Swati BhatMUMBAI, Oct 11 (Reuters) - The Indian rupee plumbed new lows and stock markets fell deeper into the red for the year on Thursday, rocked by sell-offs across global markets spooked by escalating global trade tensions and warnings of a growth slowdown.The Indian rupee fell to 74.4850 per dollar levels in early trade, off 0.4 percent on day....Read More
* NSE, BSE indexes end about 2.2 pct lower* Sharp sell-off across the globe* HPCL rises over 16 pctOct 11 (Reuters) - Indian shares plunged more than 2 pct on Thursday, at their lowest closing levels since April, mirroring the markets rout across the globe amid rising trade concerns and expectation of rate hikes in the United States.The benchmark BSE index .BSESN closed down 2.19 percent at 34,001...Read More
BENGALURU, Oct 11 (Reuters) - Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year.The declines came even as Wall Street suffered its worst drubbing in eight months.FUNDAMENTALS* Spot gold XAU= was down 0.2 percent at $1,192.41 an ounce at 0105 GMT.* U.S. gold futures GCv1 were up 0.2 percent at $1,195.70...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources The move signals a geographic expansion for the company which has made a name for itself as a first mover in Argentina, when economic reforms opened the country for foreign investment in 2003.Under the first of two accords, Golden Arrow has entered a 48-month earn-in period "with minimal costs" in the first year and total payments of U...Read More
LONDON, Oct 11 (Reuters) - Copper producer Atalaya Mining, which is backed by Swiss trading giant Trafigura, is looking for a buyer, two banking sources said on Thursday.The Cyprus-based miner has hired Canadian investment bank Bank of Montreal to help with the sale, the sources said.Atalaya's main copper asset, the Proyecto Riotinto in the Spanish region of Andalucia, was part of a mine complex b...Read More
(Bloomberg) -- “It’s something that happens every five to seven years” is how JPMorgan Chase & Co (NYSE:JPM). CEO Jamie Dimon once defined a financial crisis to his daughter. Queen Elizabeth II asked “why did nobody notice” the seeds of the last one.Stung by their failure to spot the turmoil of 10 years ago and two decades since Asian markets were roiled, policyma...Read More
(Corrects EIA monthly forecast to 10.74 (not 10.75) million bpd in last paragraph)* U.S. stock markets broadly fall, weigh on oil futures* IMF downgrades economic growth forecasts for 2018, 2019* Hurricane heads towards Florida, closing some crude output* Coming up: API data on U.S. crude stocks due at 4:30 p.m. EDTBy Stephanie KellyNEW YORK, Oct 10 (Reuters) - Oil prices dropped 2 percent on Wedn...Read More
By Rajendra JadhavMUMBAI, Oct 10 (Reuters) - India's gold imports in September dropped more than 14 percent from a year ago as a rally in local prices due to a depreciating rupee reduced demand in the world's second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS.The drop in demand from Indian importers could weigh on global prices XAU= , which have dropped 8.8...Read More
Investing.com - Bitcoin and other major cryptocurrencies edged down on Wednesday morning in Asia while Tiberius Technology Ventures moved to stop selling its metal-backed cryptocurrency and plans to refund $1 million to investors, according to the company’s own blog. Bitcoin dropped 0.46% to $6,629.7 by 11:01PM ET (03:01GMT) on the Bitifinex exchange. ETH/USD fell 0.37% to $230.23 and Liteco...Read More
Orla hits 147.7m at 1.25% copperResource definitionNew thinking carves out strong zinc position for Europa MetalsSPONSOREDeuropa metalsStoried past, future potential for Sierra RutileSPONSOREDsierra leoneAMC Consultants: San Sebastian Mining Method Case StudySPONSOREDamc consultantsThere is hardly an investment pitch from a miner these days, or so it seems, without a reference to an imminent metal...Read More
PolarX points to upsideSPONSOREDpolarx ltd The Toronto-based miner reported strong performance at its Chelopech mine, in Bulgaria, which produced 3% more gold year-on-year at 49,600 ounces, while copper output rose 21% to 10.3 million pounds.The Tsumeb smelter, in Namibia, treated 68,431 metric tonnes of complex concentrate in the period, setting a new quarterly record that bested the previous re...Read More
Kin reshaping path towards developmentSPONSOREDkin mining nlThe results were helped by the commissioning of a second crusher line, which allowed copper production to restart from the flotation plant.Quarterly production was up 38% year-on-year t...Read More
There is big opportunity, and and also big risk in the Mekong mining sector, according to recently published report.Fitch Solutions Macro Research's industry analysis maintains the Mekong region will remain underdeveloped and dominated by domestic players in the coming years as foreign investment flows into the sector will be minimal amid a myriad of risks.The report also predicts that Myanmar wil...Read More
For all the bullish talk about metals of the future, miners are making some of their biggest profits from heavy-industry stalwart coal.Base metals from copper to zinc have tumbled this year, caught up as a proxy for trade fears and emerging market jitters. Meanwhile, coal has ground steadily upwards, supported by strong demand from top commodities user China, and is trading near the highest in m...Read More
Chile's mining minister Baldo Prokurica asked the London Metals Exchange (LME) Wednesday to consider trading the coveted metal used in the batteries that power electric vehicles (EVs) and high-tech devices, and so provide greater "clarity" about its value.Chile produced 80,000 tonnes of lithium carbonate equivalent last year, representing 35 percent of global production.On his first visit to Brita...Read More
LONDON, Oct 10- Polish miner KGHM, one of the world's leading copper producers, is focusing on shoring up its balance sheet rather than any early return to dividends, its new CEO said.Marcin Chludzinski, who was named chief executive in June, said he will deliver an updated strategy for the company by the end of the year.But after shareholders in July approved the company's decision not to pay a...Read More