(Adds quotes, detail)LUSAKA, Nov 23 (Reuters) - Zambia's copper production is expected to increase by 4 percent to 740,000 tonnes this year, the Chamber of Mines in Africa's second-largest producer of the metal said on Wednesday.A government forecast in February indicated Zambia's copper production will be around 700,000 tonnes this year and next year before rising to 1 million tonnes in 2018.Howe...Read More
* European stocks fail to match Wall Street records* Fed minutes to reinforce rate hike conviction* German bond yields bounce off lows on ECB loan plan* Gap between U.S.-German yields near 11-year high (Updates prices)By John GeddieLONDON, Nov 23 (Reuters) - European shares dipped and German bond yields briefly touched record lows on Wednesday, a contrast with the buoyant mood on Wall Street as in...Read More
* European stocks fail to match Wall Street records* Fed minutes to reinforce rate hike conviction* German bond yields hit lows despite strong data* Oil prices fall on OPEC deal doubtsBy John GeddieLONDON, Nov 23 (Reuters) - Financial markets showed the diverging path of U.S. and euro zone monetary policy on Wednesday with Wall Street breaking new ground and the dollar perched near a 14-year high,...Read More
Investing.com - Gold prices edged higher on Wednesday as the dollar hovered below almost 14-year highs against a currency basket as investors awaited the release of minutes from the Federal Reserve's policy meeting earlier this month.Gold for December delivery on the Comex division of the New York Mercantile Exchange were at $1,212.9 a troy ounce, holding above the lows of $1,201.30 set on Friday,...Read More
Commodities are back in favour, boosting oil producers and miners after their annus horribilis of 2015. The Bloomberg Commodity Index is set for its biggest three-day advance since June, led by gains in oil and industrial metals.Read moreRead More
Canada's Ivanhoe Mines (TSX:IVN) and its joint-venture partner Zijin Mining Group are transferring an additional 15% interest in their Kamoa-Kakula copper project to the DRC's government.Deal increases Congo's stake in the project, which Ivanhoe believes it could prove to be Africa's most significant copper deposit ever found, to 20%.The deal increases Congo's stake in the project, which Ivanhoe b...Read More
* Three main Wall Street indexes hit record highs for 2nd day* Dow tops 19,000, S&P 500 tops 2,200 for first time* Oil prices fall after touching highest of month* U.S. 2-year Treasury yields hit more than six-year high* Dollar near six-month high vs yen (Updates to close of European markets)By Sam ForgioneNEW YORK, Nov 22 (Reuters) - Wall Street's three main stock indexes hit record highs for a s...Read More
* Three main Wall Street indexes hit record highs for 2nd day* Dow tops 19,000, S&P 500 tops 2,200 for first time* Oil prices touch highest of month on planned production cuts* U.S. 2-year Treasury yields hit more than six-year high* Dollar near roughly six-month high vs yen (Updates to open of U.S. trading; changes byline, dateline, pvs LONDON)By Sam ForgioneNEW YORK, Nov 22 (Reuters) - U.S. and...Read More
* Dollar index falls back from last week's high* Greenback steady vs yen after earthquake-driven losses* Aussie biggest gainer, up half a percent after recent falls* Graphic: World FX rates in 2016 http://tmsnrt.rs/2egbfVhBy Patrick GrahamLONDON, Nov 22 (Reuters) - The dollar retreated from a six-month peak against the yen on Tuesday, while a push higher for copper and iron ore prices drove commod...Read More
Investing.com - Gold prices rose for a second day on Tuesday as the weaker dollar helped lift the precious metal off recent lows.Gold for December delivery on the Comex division of the New York Mercantile Exchange was last at $1,217.50 a troy ounce, after earlier rising as high as $1,220.85.On Monday, gold rose 0.82% after falling to lows of $1,201.30 on Friday, a level not seen since May 30.The U...Read More
* Dollar index falls back from last week's high* Greenback steady vs yen after earthquake-driven losses* Aussie biggest gainer, up 0.4 percent after recent falls (Updates after start of European trade)By Patrick GrahamLONDON, Nov 22 (Reuters) - The dollar retreated from a six-month high against the yen on Tuesday, while a push higher for copper and iron ore prices drove commodities-linked currenci...Read More
LONDON, Nov 22 (Reuters) - Metals and mining shares .SXPP climbed 3 percent on Tuesday underpinning a firm open for Europe's benchmark stock index .STOXX as the global reflation trade in the wake of Donald Trump's victory in the U.S. presidential election continued.The pan-European STOXX 600 index .STOXX rose 0.7 percent in early trades. The index is still down about 6 percent so far this year.In...Read More
(Adds close of U.S. markets, oil settlement prices)* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* Major Wall St indexes close at recordBy Chuck MikolajczakNEW YORK, Nov 21 (Reuters) - U.S. stocks climbed on Monday to close at a record and European equity markets also moved higher as a...Read More
(Adds close of European markets)* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* S&P sets intraday record, poised for closing recordBy Chuck MikolajczakNEW YORK, Nov 21 (Reuters) - U.S. stocks climbed on Monday to set a record peak and European equity markets also advanced, buoyed by str...Read More
The US government has banned new mining claims close to Yellowstone National Park as the Obama administration steps up efforts to keep the extractive industry out of environmentally sensitive areas before President-elect Donald Trump takes office in January.Temporary ban affects new claims on a 30,000-acres area north of Yellowstone.New mining claims will now be prohibited on about 30,000 acres...Read More
Canada's federal government has granted Seabridge Gold (TSX:SEA) (NYSE:SA) a key licence required for the construction, operation and maintenance of a water storage facility and related works at its massive KSM project in northwestern British ColumbiaKSM mine is expected to have an annual gold output of 1 million ounces during its first seven years of operation.The 25-year permit for Seabridge...Read More
Shares of Teck Resources Ltd. (TSX:TCK.B) were up almost 3% as of press time after the company announced November 21 it has inked a $25 million all-cash deal to purchase AQM Copper Inc. (TSX-V:AQM), a Toronto-based junior miner with a 30% indirect interest in the Zafranal copper-gold project in Peru.Teck already owns a 50% indirect interest in the project, and the move will bring its share to 80%....Read More
(Removes extraneous apostrophe in fifth line.)* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* S&P nears intraday record, poised for closing recordBy Chuck MikolajczakNEW YORK, Nov 21 (Reuters) - U.S. stocks climbed on Monday to approach a record peak, and European equity markets also ad...Read More
* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* French primary surprise triggers bond market volatility* Europe stocks edge up, Wall St seen opening modestly higherBy Nigel StephensonLONDON, Nov 21 (Reuters) - Oil prices rose to three-week highs on Monday, supported by a weak dollar and...Read More
Investing.com - Gold prices ticked higher in European hours on Monday, but held near the lowest level since May on expectations for a Federal Reserve rate hike and fiscal stimulus by President-elect Donald Trump.Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $6.15, or 0.51%, to $1,214.85 a troy ounce by 3:33AM ET (08:33GMT). It fell to $1,201.30 on F...Read More