Mining and commodities trader giant Glencore (LON:GLEN) just added a fresh sign to a mounting pile of indicators that signal a long-awaited recovery in the mining industry, by announcing it will resume paying dividends in 2017 and also meet its goal this year to cut net debt.The Swiss company, which was one of the worst-performing stocks in the FTSE 100 last year amid a commodity prices rout, said...Read More
The Taliban have offered to protect major government projects such as the mining of a big copper deposit and an international natural gas pipeline project to assist the development and prosperity of war-torn Afghanistan.The insurgents have been behind much of the violence over the last 15 years that has frightened off investors, leaving Afghanistan unable to tap its vast natural resources and buil...Read More
(Corrects foreign ministry spokesman's response to "unaware of situation" not "aware of situation" in paragraph 8)ULAANBAATAR, Dec 1 (Reuters) - A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week.The Dalai Lama is...Read More
(Adds company news and sector items, futures)Dec 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 1 point higher on Thursday, according to financial bookmakers, with futures down 0.15 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent on Wednesday at 6,783.79, led by rebounding energy stocks after oil prices surged to their biggest one-day gain in nine...Read More
Dec 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 1 point higher on Thursday, according to financial bookmakers.* The UK blue chip index closed up 0.2 percent on Wednesday at 6,783.79, led by rebounding energy stocks after oil prices surged to their biggest one-day gain in nine months when major producers agreed to output cuts to curb oversupply. FTSE RESHUFFLE: Precious metals mini...Read More
Rescue workers used bare hands and light equipment Wednesday in a desperate attempt to save four missing miners at a Polish copper mine that was hit by a tremor and a cave-in. Four other miners were killed, the mine's director said.The mine is operated by the KGHM Polska Miedz, which has presence in Chile, Canada and the United States.Continue reading...Read More
Investing.com - Gold prices slid on Wednesday as the dollar pushed higher after upbeat U.S. economic reports on Tuesday supported the case for higher interest rates.Gold was trading at $1,187.65 a troy ounce by 10:00 GMT.The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.13% at 101.11, holding below the almost 14-year hi...Read More
(Adds company news items, futures)Nov 30 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening about 2 points lower or almost flat in percentage terms on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* The UK blue chip index closed down 0.4 percent on Tuesday at 6,772, underperforming other European markets as energy and mining s...Read More
Nov 30 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening about 2 points lower, or almost flat in percentage terms on Wednesday, according to financial bookmakers.* The UK blue chip index closed down 0.4 percent on Tuesday at 6,772, underperforming other European markets as energy and mining stocks were hit by weaker oil and metals prices. BP: Mexico hopes to award at least four of the 10...Read More
After hitting an 18-month high on an intraday basis on Monday, the copper price has come under pressure as the bullishness about the impact of Trump's $500 billion infrastructure plans on demand for the bellwether metal begins to cool.In Asian trade on Wednesday copper for delivery in March, the most active contract, exchanged hands for $2.5570 per pound ($5,637 a tonne) on the Comex market in New...Read More
The Australian Stock Exchange has shut the door on one of its most controversy-plagued companies, Moly Mines, after ruling the firm was not allowed to resume trading due to concerns about Chinese majority shareholder Hanlong Group.The rarely used move, which effectively blocks Hanlong and leaves roughly 4,000 Moly shareholders in limbo, comes despite Moly promising it would have the Chinese firm's...Read More
* Taliban behind much of the violence over the last 15 years* Fight targets foreign forces, not Afghans, militants say* Taliban directs fighters to aid in security of projects (Adds presidential spokesman's comment)KABUL, Nov 29 (Reuters) - The Afghan Taliban on Tuesday offered to protect major government projects, such as the mining of a big copper deposit and an international natural gas pipelin...Read More
KABUL, Nov 29 (Reuters) - The Afghan Taliban on Tuesday offered to protect major government projects, such as the mining of a big copper deposit and an international natural gas pipeline project, to allow them to get off the ground after years of delay.The Taliban have been behind much of the violence over the last 15 years that has frightened off investors, leaving Afghanistan unable to tap natur...Read More
TOKYO, Nov 29 (Reuters) - Benchmark Tokyo rubber futures dipped from 1-1/2 year highs on Tuesday, as investors took profit after Shanghai futures pared earlier gains and as weaker metals prices weighed on market sentiment, dealers said."The market took a breather after the recent rally and as prices of base metals retreated from the recent highs," said Toshitaka Tazawa, analyst at Fujitomi Co.The...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile, pares gains late (Updates to U.S. market close, changes comments)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rose in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the dollar pared losses and U.S. stocks...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile, pares gains late (Updates prices, changes comment)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the U.S. dollar recovered from earlier losses but w...Read More
During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year. The president elect also has aspirations of $1 trillion in infrastructure build-out in the US over the next decade."Well targeted public spending initiatives could catalyse private economic activity and help to get the global economy ou...Read More
Anglo American (LON:AAL) has decided to keep all activity at its Los Bronces copper mine in Chile halted following a fresh attack by hooded protesters who seized installations over the weekend.The group "violently and illegally" entered the mine site early Saturday morning, the company said in a statement (in Spanish), just hours after unions representing staff of contractor firms employed at Los...Read More
Despite increased demand for nickel, low profitability owing to the combination of persistently low prices and higher costs may result in project closures over the next five years, according to research and consulting firm GlobalData.The company's latest report states that operating nickel mines scheduled for closure during the forecast period include the Savannah and Mount Keith mines in Australi...Read More
* Inflation trades reverse: Treasury yields fall* Stocks fall on Wall Street weighed by consumer, banks* Crude volatile ahead of OPEC meeting (Updates prices)By Rodrigo CamposNEW YORK, Nov 28 (Reuters) - Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the U.S. dollar recovered from earlier losses but was still slig...Read More