Last week GDX and GDXJ were down almost 12% at their lows on Thursday. Since then, they've recovered but only a tiny fraction of recent losses.The crash did result in the miners reaching an extreme oversold condition while trading around long-term support at their December 2016 lows. It was the perfect setup for shorts to cover. That combination often results in at least a relief rally.While a ral...Read More
Fatality at Serabi mine: NMBCapital markets"We have had some really positive surprises out of this process"LeadershipKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperPolarX points to upsideSPONSOREDpolarx ltdMy dear wife oft rolls her eyes condescendingly at some of the more patently dopey rules pertaining to golf in general, and my club...Read More
Orla hits 147.7m at 1.25% copperResource definitionSolGold set to shineSPONSOREDsolgoldWhile tipping the future price of any commodity is always risky, and there are few forecasts today of a sudden recovery in either copper or gold, the evidence points to both metals being oversol...Read More
World copper production was up by five percent in the first five months of 2018 with a lift provided by Latin America and Southeast Asia, according to a survey by the International Copper Study Group released yesterday. Production in Chile, the world's biggest copper mine producing country, increased by 13.5% primarily because production in February/March 2017 was restricted by a strike at Escondi...Read More
BELGRADE, Aug 21 (Reuters) - Three companies have placed bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, the Economy Ministry said.In July, Serbia's government said it was seeking a partner to invest at least $350 million in debt-laden RTB Bor but did not say how big a stake it would offer in return.It had previously failed three times to sell the mining complex...Read More
World's No.1 mining company BHP (ASX, NYSE:BHP) (LON:BLT) revealed Tuesday that ore processing at its Olympic Dam copper, gold and uranium mine in South Australia is being affected by an ongoing technical issue.Copper production at Olympic Dam is set to reach around 230,000 tonnes by 2021, but there is potential for up to 450,000 tonnes per year.Releasing annual results, the company - which spent...Read More
Going on a crash diet seems great while you're shedding the pounds. The problem is sticking with it for the long term.That's what seems to be happening to the world's miners, which have spent the years since the commodity boom peaked in 2011 holding down salaries, eking out efficiencies and extracting the highest-quality parts of their deposits to keep costs in line with deflating prices.The cy...Read More
By Saad SayeedISLAMABAD, Aug 20 (Reuters) - Indian Prime Minister Narendra Modi has called for dialogue with Pakistan in a letter to its newly elected leader and Pakistan also saw talks with its old rival as the "only way forward", Pakistan's foreign minister said on Monday.New Pakistani Prime Minister Imran Khan offered an olive branch to India after his election victory last month, proposing tal...Read More
* China, U.S. to hold lower-level trade talks* U.S. sanctions against Iran could reduce supply* U.S. offers 11 mln barrels of oil for sale from SPR (Updates with settlement prices, market activity, adds commentary)By Stephanie KellyNEW YORK, Aug 20 (Reuters) - Oil futures rose on Monday after weeks of declines, as investors grew more concerned about an expected fall in supply from Iran due to U.S....Read More
* MSCI Asia-Pacific index up 0.02 pct, Nikkei down 0.6 pct* Trump accuses China, Europe of manipulating their currencies* Trump also reiterates displeasure at Fed's rate hikes* Dollar/yen slips to near 3-mth low, US yields brush 6-wk troughBy Shinichi SaoshiroTOKYO, Aug 21 (Reuters) - Asian stocks were capped and the dollar dipped on Tuesday after U.S. President Donald Trump accused China and Euro...Read More
(Fixes typo in company name in paragraph six)NEW DELHI, Aug 20 (Reuters) - India's environment court said on Monday an independent judicial committee would decide in about six weeks whether to allow Vedanta Ltd VDAN.NS to reopen its copper smelter, which was shut by the southern state of Tamil Nadu (NS:TNNP) on environmental grounds.Tamil Nadu ordered the permanent closure of the plant and disconn...Read More
* FTSE 100 up 0.4 pct at close* Weak results drive Mulberry shares down 26 pct* G4S (CO:G4S) shares fall after govt takes over Birmingham prison* Sage hit by Deutsche Bank (DE:DBKGn) downgrade to "sell" (Updates prices at close, adds detail)By Helen ReidLONDON, Aug 20 (Reuters) - Strong mining stocks helped boost Britain's FTSE 100 on Monday, leaving last week's four-month lows behind as optim...Read More
Investing.com - Gold prices traded higher on Monday, recovering some lost territory after suffering its largest weekly decline in more than year, as traders waited for references from the Federal Reserve later this week.At 10:41 AM ET (14:41 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $8.70, or 0.72%, to $1,192.90 a troy ounce.Gold futu...Read More
(Bloomberg) -- Base metals rebounded, pushing copper back above $6,000 a metric ton, on easing trade tensions between the U.S. and China, and signs of stronger demand.Copper for three-month delivery rose 1.6 percent to $6,020 per ton as of 10:54 a.m. on the London Metal Exchange. Most other metals were also higher, with aluminum adding 2.3 percent.Copper prices extended gains on Monday after data...Read More
NEW DELHI, Aug 20 (Reuters) - India's environment court said on Monday an independent judicial committee will decide in about six weeks whether to allow Vedanta Ltd VDAN.NS to reopen its copper smelter, which was shut by the southern state of Tamil Nadu (NS:TNNP) on environmental grounds.Tamil Nadu ordered the permanent closure of the plant and disconnected its power supply in May following protes...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.6 pct* Weak results drive Mulberry shares down 26 pct* G4S (CO:G4S) shares fall after govt takes over Birmingham prison* Sage hit by Deutsche Bank (DE:DBKGn) downgrade to "sell"By Helen ReidLONDON, Aug 20 (Reuters) - Strong mining stocks helped boost Britain's FTSE 100 on Monday, leaving last week's four-mo...Read More
(Adds futures, company items)Aug 20 (Reuters) - Britain's FTSE futures FFIc1 up 0.2 percent ahead of the cash market open.* TED BAKER: The UK's Financial Reporting Council has fined accountants KPMG three million pounds and reprimanded and fined senior partner Michael Francis Barradell for misconduct related to auditing of British fashion retailer Ted Baker 's TED.L accounts. TBC Bank: Georgia's...Read More
Aug 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 4 points lower at 7,555 on Monday, according to financial bookmakers.* Insurer Prudential PRU.L plans to consolidate all non-British European insurance business in its Dublin subsidiary as part of preparations for Britain's exit from the European Union, a letter to clients seen by Reuters showed. Dalmore Capital, Equitix enter bid...Read More
(Bloomberg) -- Global financial markets got uglier while Federal Reserve officials were on their August hiatus, but bond traders are wagering that won’t be enough to deter them from pressing on with monetary-policy tightening in the world’s largest economy.Turkey-induced turmoil has spread across emerging markets, roiling countries from Argentina to South Africa and fueling fears of fu...Read More
Diggers & Dealers Q&A: Byrnecut's Pat BoniwellSPONSOREDbyrnecutArafura answers the call for magnet metalsSPONSOREDarafura resourcesOpportunities abound on Orion's beltSPONSOREDorion mineralsSolGold set to shineSPONSOREDsolgold The company said the worker passed away yesterday, following a fall while constructing an electrical transmission line in the tailings management facility a...Read More