* Q2 net profit 13.43 bln rupees vs 12.68 bln rupees est.* Expenses rose 11.4 pct in the qtr* Q2 rev from ops up 5.2 pct (Adds details, background)Oct 31 (Reuters) - Indian miner Vedanta Ltd VDAN.NS reported on Wednesday a 34 percent fall in second-quarter net profit, hit by lower revenue from its zinc operations, rising costs and the shutdown of a smelter in southern India.The Indian unit of dive...Read More
(Bloomberg) -- Glencore (LON:GLEN) Plc’s coal mining business will eclipse its copper unit next year and become the world’s biggest commodity trader’s most profitable operation.Despite making a lot of noise about its electric vehicle-focused mines such as nickel, copper and cobalt, Glencore has continued to buy more coal assets, adding rival Rio Tinto’s Australian opera...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources Hudbay has offered Mason shareholders C$0.40 in cash for each share held, valuing Mason at $31 million. Net of Mason's cash and Hudbay's current 14% ownership in the company, Masno's enterprise value is about US$15 million.Hudbay CEO Alan Hair said the acquisition of the Ann Mason project was "another step in Hudbay's consistent strate...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources The company reported a headline loss for the three-months period of C$8.3 million, or 4c a share, which were below average analyst forecasts that called for nil per share, on expected revenue of $72.1 million.Revenue fell 21.3% year-over-year to $60.72 million. Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources Copper Mount...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company is 75% owner of the Gibraltar copper-molybdenum mine in British Columbia and it had hoped for an improved second half after Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumWhite Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock minerals Finance had been the final hurdle for the shovel-ready Gunnison in-situ recovery copper project in Arizona after the company overcame a perm...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumWhite Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock mineralsIn a recent presentation to investors, Ramelius chief executive Mark Zeptner described the company as significantly undervalued. Central to his argument...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumWhite Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock mineralsI have no idea how many times the phrase "this time, it's different" has been uttered in polite society, as I don't count such things - but I'm guessing...Read More
Nov 1 - BHP will start an off-market buyback of $5.2 billion of its shares immediately, with the remainder of the proceeds from its U.S. onshore assets sale to be returned in the form of a special dividend, the global miner said on Thursday.The world's biggest miner had promised in July to return the $10.5 billion in sale proceeds to shareholders. It also announced the completion of the sale of it...Read More
MOSCOW, Oct 31 - Production at Russia's Norilsk Nickel (Nornickel) Bystrinsky copper project near the Chinese border surged in the third quarter, the company said on Wednesday, indicating that it was making progress fixing a problem with equipment.Nornickel, controlled by Russian billionaire Vladimir Potanin and aluminium giant Rusal, launched the mine a year ago with an aim to export its producti...Read More
Vancouver-based explorer Golden Arrow Resources (TSX-V: GRG) has entered into a Definitive Agreement with Mineria Activa SpA to acquire up to 100% of the Indiana gold-copper project in Chile. Indiana is located approximately 35 kms from Golden Arrow's new Atlantida copper-gold project.The advanced-stage gold-copper project features a near surface deposit of high-grade gold and copper vein-hos...Read More
Excelsior Mining plans to complete construction at its Gunnison copper project in south eastern Arizona and enter production over the next year after agreeing to a US$75 million project financing package with Triple Flag Mining Finance.Triple Flag will buy a US$65 million copper stream on Gunnison and US$10 million in shares from Excelsior. The package includes an option for Triple Flag to fund a...Read More
Canada's Barrick Gold and takeover target Randgold Resources are boosting their dividend payouts ahead of shareholder votes next week on their $6.1 billion deal, the miners said Wednesday.Barrick's all-stock purchase of the African miner, announced in September, spurred some analyst criticism because it lacked a premium for Randgold, which has a record of strong operational and financial performan...Read More
* RBI "looked the other way" when banks lent excessively - Jaitley* Banks lent indiscriminately in 2008-2014 - Jaitley* Comments come after RBI official's call for more independence (Updates with quotes, background, details)By Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Oct 30 (Reuters) - India's Finance Minister Arun Jaitley blamed the Reserve Bank of India on Tuesday for failing to stop...Read More
* Trump expects "great deal" with China, but more tariffs if not* IEA's Birol says fuel demand could take a hit* US crude stocks up 5.7 mln bbls, more than forecast-API (Adds API data on U.S. crude inventories)By Stephanie KellyNEW YORK, Oct 30 (Reuters) - Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fu...Read More
NEW DELHI, Oct 30 (Reuters) - India's finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday."The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said while speaking at an event in New Delhi.Tensions between the finance ministry and the RBI have risen since the bank...Read More
Investing.com - Gold prices fell on Tuesday as the safe haven demand for the dollar was boosted by concerns over the pending trade dispute between the U.S. and China.At 10:25 AM ET (14:25 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange lost $6.80, or 0.55%, to $1,225.80 a troy ounce.Meanwhile, the U.S. dollar index, which measures the greenback&rs...Read More
* European stocks stumble back into the red* French consumer spending data, Italian GDP weighs* Dollar at 2 1/2-month high, Wall Street futures point higher* Yuan at 10-year low, metals sink on trade war worries* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, Oct 30 (Reuters) - European shares laboured in the red and China's yuan hit a 10-year low on Tuesday as the pr...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumWhite Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock minerals The combined sector helped push the real gross domestic product (GDP) up for a seventh consecutive month, edging up 0.1% in August.StatsCan said growt...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe higher grade scenario is focused on 54Mt grading 0.86% copper equivalent, with the scoping work due for completion this quarter.Xanadu will also now look at the potential of definin...Read More