MUMBAI, Sept 5 (Reuters) - Indian exports are rising driven by a fall in the rupee against U.S. dollar, by more than 11 percent so far this year, the trade secretary said on Thursday.Merchandise exports INEXP=ECI rose 14.32 percent in July to $25.77 billion from a year ago. down the impact of the weak rupee on the economy, Trade Secretary J.S. Deepak (NS:DPFE) said in the medium term, country's fu...Read More
Investing.com - Gold prices rebounded on Wednesday after declining more than 1% a day earlier as the dollar took a pause from its climb this week and investors prepared for a slew of events at the end of the week.At 12:06 PM ET (16:06 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $3.60, or 0.30%, to $1,202.70 a troy ounce.Meanwhile, the U.S...Read More
Orla hits 147.7m at 1.25% copperResource definitionBlack Rock polishes MahengeSPONSOREDblack rock miningTime is right for Heron to take flightSPONSOREDheron resourcesChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftData released in the past week by the Australian Bureau of Statistics (ABS) showed capital spending in the WA resources indu...Read More
The company says commissioning of the new rougher flotation circuit has started on the Phase Two Expansion Project at Minera Valle Central, its 100%-owned operation near Rancagua, Chile. Copper concentrates from the new flotation circuit are being processed in the existing cleaner flotation circuit. Construction of the new cleaner flotation circuit is expected to be complete this month, while...Read More
The ASX junior (DAV) has been working diligently with a leading consulting firm to refocus wider attention on the credentials of Germany's South Harz potash basin, and its potential to be a bigger factor in future supply of the valuable agricultural mineral in the region and wider market.It has also just appointed UK-based Bacchus Capital Advisors to help it fully harness the increasing interest f...Read More
(Bloomberg) - Zambia plans to trim its fiscal deficit next year even as Africa's second-biggest copper producer boosts spending. It may be considering raising mine taxes to achieve that, according to analysts.The Finance Ministry is targeting a budget shortfall of 6.5 percent of gross domestic product next year, compared to 7.4 percent this year, according to a medium-term expenditure plan that s...Read More
(Bloomberg) - "Everyone loves copper and everyone wants to buy it" has been this year's mining mantra. Today the ball started rolling.Today the ball started rolling.China's Zijin Mining Group Co. swooped on a huge undeveloped copper mine in Serbia, acting as a white knight to beat out an earlier hostile bid from a Canadian rival. At the same time, BHP Billiton Ltd., the biggest miner, snapped up...Read More
World's largest miner BHP (ASX, NYSE:BHP) (LON:BLT) has bought a 6.1% stake in Ecuador-focused explorer SolGold (LON:SOLG) (TSX:SOLG) for $35 million, increasing this way its exposure to copper as the Cascabel project is believed to have the potential to become one of the largest copper-gold assets ever discovered.The Melbourne, Australia-based giant has acquired 103.1 million shares in SolGold...Read More
Canada's Nevsun Resources (TSX, NYSEMKT:NSU) has found a new suitor in China's state-backed Zijin Mining, which has offered Cdn$1.86 billion ($1.41 billion) for the gold and copper miner.Zijin's friendly takeover bid values each Nevsun share at Cdn$6, which will be paid in cash, representing a premium of about 21% to the Vancouver-based miner's close in Toronto on Tuesday.Zijin's friendly takeove...Read More
* Storm Gordon halts some energy production in U.S. Gulf* Gordon to make U.S. landfall as hurricane* Cushing crude stocks rose last week -traders, citing Genscape* U.S. dollar index higher, weighing on oil futures (Updates with settlement prices, adds commentary)By Stephanie KellyNEW YORK, Sept 4 (Reuters) - Oil prices were little changed on Tuesday, as energy infrastructure on the U.S. Gulf Coast...Read More
Sept 4 (Reuters) - Indian shares ended lower for a second straight session on Tuesday, dragged down by banks and consumer stocks, as the rupee extended declines to a record low and oil prices rose sharply.The Indian rupee INR=D2 , which tumbled to a record low of 71.54 on the dollar on Tuesday, is Asia's worst performing currency so far this year due to higher oil prices, turbulence in emerging ma...Read More
NEW DELHI, Sept 4 (Reuters) - Amazon.com AMZN.O on Tuesday launched a Hindi version of its mobile website and app for Android smartphones in a bid to make deeper inroads into India's fast-growing e-commerce market, stepping up its battle with Walmart (NYSE:WMT)'s WMT.N Flipkart unit.None of India's other leading e-commerce portals - Flipkart, Snapdeal or Paytm Mall - currently have a local languag...Read More
* FTSE 100 down 0.6 percent* Miners weigh; WPP (LON:WPP) slides after H1 results* Financials, weak pound supportive (Adds closing prices)By Kit ReesLONDON, Sept 4 (Reuters) - The UK's top shares index ended the session in the red on Tuesday amid growing trade war fears and as a drop among mining stocks and a fall in WPP shares weighed.The blue-chip FTSE 100 .FTSE index closed down 0.62 percent at...Read More
Investing.com - Gold prices traded lower on Tuesday as traders returned to their desks after the U.S. holiday weekend and trade tensions coupled with market turmoil in Argentina and Turkey underpinned demand for the dollar.At 10:55 AM ET (14:55 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell $8.70, or 0.72%, to $1,198.00 a troy ounce.Meanwhil...Read More
* Dollar rise sends euro, yen and emerging market currencies lower* South Africa's rand slumps towards two-year low* Chinese stocks snap five-day losing streak but Europe slips back* Italian bond markets cling to budget optimism* Metals hit by strong dollar but oil climbsBy Marc JonesLONDON, Sept 4 (Reuters) - A rebound in Chinese shares and a rally in Italian bonds failed to keep Europe's spirits...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100, mid caps flat* Miners weigh; WPP slides after H1 results* Oil, financials, weak pound supportiveBy Kit ReesLONDON, Sept 4 (Reuters) - The UK's top shares index came under pressure on Tuesday as a drop among mining stocks and WPP shares weighed, though a weaker pound and boost from big oil kept losses limited.The bl...Read More
EMR snaps up third copper mine, this time in ChileCopper NewsLook beyond market approach to project valuations: van ZylLeadershipDe-risking progress propels Namdini SPONSOREDcardinal resourcesA rising force in the 'Ring of Fire'SPONSOREDasiamet resourcesThe company reached agreement with Guyana Goldfields to buy 103.1 million shares.BHP paid 26.592 pence per SolGold share, representing a 2...Read More
Source: LME, Comex via BloombergBears ripped into mining and metals stocks on the first post-summer trading day in Europe and North America on Tuesday on worries about the robustness of the Chinese economy and the impact of the top commodity importer's widening trade war with the US.Copper touched a low of $2.58 a pound ($5,688 a tonne) on the Comex market in New York, down more than 3% on the day...Read More
MOSCOW, Sept 4 (Reuters) - A company owned by Russian billionaire Alisher Usmanov's holding company said on Tuesday it had started construction of a massive mining and metallurgical plant at the Udokan copper deposit in a remote region in eastern Siberia.With total reserves of around 26.7 million tonnes of copper, Udokan is the largest undeveloped copper deposit in Russia and one of the biggest in...Read More
* U.S. sanctions to target Iran's oil exports from November* OPEC output hit 2018-high in August -survey* U.S. rig count climbs, pointing to more production* U.S. oil drilling, output & storage: https://tmsnrt.rs/2wc5wpr (Updates with U.S. trading activity, updates prices.)By Jessica Resnick-AultNEW YORK, Sept 3 (Reuters) - Oil prices rose on Monday, supported by concerns that falling Iranian...Read More