At least five miners are dead and 11 are trapped after a landslide swept through a copper mine in southeastern Turkey.The natural disaster happened late last Thursday at the Madenk??y copper mine, located in the ??irvan district of Siirt province. In a statement, private company Park Elektrik A.??. blamed heavy rains for the landslide, and said that mining has been temporarily suspended.Five...Read More
Investing.com - Gold prices fell to the lowest level since May on Friday as the dollar rallied to almost 14-year highs amid a rally driven by the U.S. presidential election and expectations that the Federal Reserve will raise interest rates next month.Gold for December delivery on the Comex division of the New York Mercantile Exchange hit lows of $1,202.05 a troy ounce and settled down 0.74% at $1...Read More
* Wall Street slips, led by healthcare decline* Dollar index set for biggest 2-week rise in 20 months* Oil gains 5 pct on the week on OPEC hopes (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff that left yields...Read More
* Wall Street slips, led by healthcare decline* Dollar index set for biggest 2-week rise in 20 months* Oil down for day on strong dollar, up for week on OPEC hope (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff...Read More
The Canadian province of Quebec has partnered with one of the country's leading firms in risk management and contractor compliance to develop a platform that aims to help local suppliers bid for Plan Nord contracts.Plan Nord is a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $50 billion in public and privat...Read More
Greece has granted Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) permission to build a plant at its Skouries gold mine in the northern part of the country, one of four major operations the firm has there.Decision unblocks the construction of the plant at Eldorado's Skouries gold mine, one of four major operations the firm has in Greece.The approval comes only a week after Giorgos Stathakis took cha...Read More
While mining companies have resumed projects that were placed in the back burner last year and upped capital spending, employees have yet to benefit from the surge in commodity prices.While most miners have managed to straighten balance sheets, they have not began preparing to deal with a new looming risk - their ability to access workers with the skills needed in an upswing.The issue is not onl...Read More
* Stocks fall, oil hit by stronger greenback* Best two weeks for USD since March 2015 (Updates throughout with U.S. market action, changes dateline from LONDON)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff that left benchmark yields o...Read More
(Updates futures, adds company news item)Nov 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 2 points on Friday, according to financial bookmakers, with futures FFIc1 up 0.28 percent ahead of the cash market open.* The UK blue chip index closed 0.7 percent higher on Thursday, helped by gains among mining firms. NATIONWIDE: Nationwide Building Society POB_p.L reported a 23 percent...Read More
Nov 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 2 points on Friday, according to financial bookmakers.* The UK blue chip index closed 0.7 percent higher on Thursday, helped by gains among mining firms. RIO TINTO: The government of Guinea has called on Rio Tinto RIO.AX RIO.L to spell out what exactly it has discovered in an internal investigation into payments made to an advi...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 and the president elect has aspirations of $1 trillion in infrastructure build-out in the US over the next decade.The surge in industrial metals prices and steelmaking raw materials following the surprise victory of Trump has definitely...Read More
The surge in the copper price to near 18-month highs following Donald Trump's win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.The bullishness about the impact of Trump's $500 billion infrastructure plans on demand for the bellwether metal has cooled down considerably.Source: FocusEconomicsIn pre-regular hours trade on Thursday...Read More
(Adds company news items, futures)Nov 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 19 to 21 points, or as much as 0.3 percent, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.16 percent ahead of the cash market open.* The UK blue chip index ended down 0.6 percent on Wednesday after gaining in the previous two sessions, with companies such as jet engine m...Read More
Nov 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 19 to 21 points higher, or up as much as 0.3 percent on Thursday, according to financial bookmakers.* The UK blue chip index ended down 0.6 percent on Wednesday after gaining in the previous two sessions, with companies such as jet engine maker Rolls-Royce RR.L and the country's biggest housebuilder Barratt BDEV.L slipping. ANGLO AM...Read More
* Dollar index hits highest level since early 2003 (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 16 (Reuters) - The U.S. dollar index touched a near 14-year high on Wednesday, while oil prices fell in a volatile session as traders were caught between a build in U.S. stockpiles and the chance of an agreement in an output cut.Declines in bank stocks more than offset gains in the technolog...Read More
About 100 hooded protesters have illegally entered Anglo American's Los Bronces copper mine in central Chile, seizing installations and setting up flaming barricades.The global miner blamed a group of contractors and "unidentified people" for the violent occupation of parts of the mine and the takeover of outbuildings and trucks."This situation creates a serious risk to the safety and physical in...Read More
Gecamines, the Democratic Republic of Congo's state-owned copper producer, said on Wednesday it "strongly opposes" Lundin Mining's (TSX:LUN) decision to sell its 24% stake in the Tenke Fungurume mine to a Chinese private equity firm.Congo is one of the world's top copper producers, but foreign companies rather than Gecamines mine most of the industrial metal. The state-owned miner has long argued...Read More
Global Witness on Monday revealed that Gecamines, the state mining company of the Democratic Republic of Congo last year signed over royalty rights in the Kamoto Copper Company (KCC) owned and operated by Switzerland's Glencore to offshore company African Horizons which is linked to with Dan Gertler, Israeli financier who has extensive dealing in the DRC.The London-based human rights organization...Read More
* Dollar index hits 14-year high, last little changed* Bond selling resumes after brief pause* Yield jump stops stocks in their tracks (Updates with U.S. open, changes comment, dateline from previous LONDON)By Rodrigo CamposNEW YORK, Nov 16 (Reuters) - The U.S. dollar index dipped after hitting a near 14-year high on Wednesday while oil prices swung in a volatile session as traders were caught bet...Read More
* Gold slips as dollar index climbs to 11-month high* Holdings of no.1 gold ETF slip to lowest since June* Indian traders fear curbs on overseas purchases (Updates throughout, adds LONDON dateline)By Jan HarveyLONDON, Nov 16 (Reuters) - Gold eased on Wednesday in line with a firmer dollar, but found support around $1,225 an ounce as a sharp rally in cyclical assets like stocks and copper following...Read More