TORONTO, July 11 (Reuters) - Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia.Barrick, which looks likely to lose its rank as the world's biggest gold producer this year, maintained its 2018 output estimate of between 4.5 mil...Read More
MELBOURNE, July 11 (Reuters) - Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said.Denham, which closed a new $550 million mining fund sooner than expected on Monday, has already acquired two copper projects in South America and aims to invest the rest in...Read More
July 11 (Reuters) - Foreign direct investment in Chile hit $8.48 billion from January to April, its highest level since records began 15 years ago, thanks to a new law designed to attract investment, the government investment agency said on Wednesday.InvestChile, an arm of the economics ministry, said foreign direct investment (FDI) increased by 655 percent over the same period last year, and it w...Read More
The price of copper sank on Wednesday, losing more than 4% in New York to $2.7170 or $5,990 a tonne on the Comex market, its lowest level since July 20 last year.It was one of the busiest days of 2018 on commodity futures markets with with over 2.1m tonnes of copper worth $12.7 billion exchanging hands by early-afternoon. Wednesday was the ninth down day of the last 10 trading sessions for copper....Read More
As the U.S. becomes increasingly import-reliant for the minerals needed for military equipment and technologies, 62 percent of voters support U.S. government action to encourage the use of domestically-mined minerals and decrease reliance on foreign-imported minerals, according to a poll conducted by Morning Consult for the National Mining Association (NMA)."Our defense industrial base supply chai...Read More
The guidelines, the result of a three-year international effort, should help identify areas of particular environmental importance where no mining should occur. (Image: Mountains in the Sea 2004. Courtesy of NOAA Office of Ocean Exploration.)An international team of researchers has developed a set of criteria to help the International Seabed Authority (ISA) protect biodiversity from deep-sea minin...Read More
The U.S. election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump's trade war against China threatens to derail economic growth.Copper sunk to an almost one-year low and has fallen 16 percent from a high in June. All the major metals were in the red on Wednesday as the U.S. unveiled tar...Read More
(Bloomberg) -- China’s goal of putting more electric cars on the road is proving a bonanza for a South Korean tycoon.Huh Chin-kyu, the 77-year-old founder and chairman of Seoul-based Iljin Group, has become his country’s latest billionaire thanks to increasing demand for the firm’s copper coils, a key component of rechargeable batteries used in electric vehicles. The company&rsqu...Read More
Investing.com - Gold prices were under pressure on Tuesday as a stronger dollar pushed the precious metal back towards 7-month lows hit a week earlier.At 10:55AM ET (14:55GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $4.90, or 0.4%, to $1,254.70 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback’s strength aga...Read More
(Adds futures, company news items)July 10 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening 12 points higher at 7,770 on Tuesday, according to financial bookmakers, with futures FFIc1 down 0.03 percent ahead of the cash market open.* KIER: British construction and support services company Kier Group Plc KIE.L said on Tuesday it had launched a cost-savings plan that would include the sal...Read More
July 10 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening 12 points higher at 7,770 on Tuesday, according to financial bookmakers.* SKY/TWENTY-FIRST CENTURY FOX: Twenty-First Century Fox Inc FOXA.O is preparing a new bid for Sky Plc SKYB.L that values it at about 25 billion pounds ($33.14 billion) to top the offer it has received from Comcast Corp CMCSA.O , the Financial Times reported on...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperA monumental effort by analysts at the Australian-based bank, the 45-page repor...Read More
(Bloomberg) - China's goal of putting more electric cars on the road is proving a bonanza for a South Korean tycoon.Huh Chin-kyu, the 77-year-old founder and chairman of Seoul-based Iljin Group, has become his country's latest billionaire thanks to increasing demand for the firm's copper coils, a key component of rechargeable batteries used in electric vehicles. The company's Iljin Materials unit...Read More
HAMBURG, July 10 (Reuters) - A final deal has been signed for the sale of German copper products company Mansfelder Kupfer und Messing (MKM) for 80 million euros ($94 million) to fellow German copper producer KME, MKM said on Tuesday.MKM last year produced over 270,000 tonnes of copper products at its plant in Hettstedt including rolled products, tubes, copper rods and wire rods.Osnabrueck-based K...Read More
On July 6, 2018, Zald?-var signed a new power plant supply agreement with Colb??n, a Chilean electric power utility company. The copper mine will be the first to operate with 100% renewable energy: a combination of hydro, solar, and wind power.The Copper Mine, located in Northern Chile, is a 50% joint venture between Barrick Gold and Antofagasta since December 2015. Antofagasta's official website...Read More
SHANGHAI, Jul 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell below 94 on weaker-than-expected salary data, but closed slightly up from the previous trading day, given a declining euro on political turmoil in London overnight. Base metals mostly rose but with limited momentum with pressure from the China-...Read More
* Trade war fears recede* STOXX rises 0.6 pct, FTSE up 0.9 pct* Britain's Foreign and Brexit ministers resign (Updates prices, adds details)By Julien Ponthus and Helen ReidLONDON, July 9 (Reuters) - A wave of optimism about the resilience of the global economy helped European shares make gains despite the escalation of the U.S.-China trade dispute and renewed divisions in the British government ar...Read More
* FTSE 100 up 0.9 pct* Foreign Sec resignation dents sterling* Political uncertainty hurts real estate stocks* BHP up on U.S. shale deal speculation* Broker upgrade boosts Just Eat (Updates prices, adds details)By Danilo Masoni and Helen ReidMILAN/LONDON, July 9 (Reuters) - Britain's FTSE 100 jumped on Monday after two leading eurosceptic ministers' resignations dented sterling, with real estate...Read More
Investing.com - Gold prices started the week off on the right foot, heading further away from seven-month lows seen last week, as easing worries over inflationary pressure supported the precious metal.At 11:09AM ET (15:09GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $6.60, or 0.5%, to $1,262.40 a troy ounce.Last Friday’s jobs report s...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftFurther de-risking as Danakali debuts on bigger stageSPONSOREDdanakaliKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copper Both metals have been battered in the past month as US president Donald Trump...Read More