MEXICO CITY, Aug 31 (Reuters) - Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview.The company began to refurbish the San Martin mine, which has copper, silver, lead and zinc, a week ago, said Carlos Barcena, the economy minister in the...Read More
Aug 31 (Reuters) - Chile's state copper commission Cochilco expects the country's mining industry to attract a total investment of $65.75 billion spread over 44 operations over the next 10 years, it said in a statement on Friday.Among the investments, it referenced two new lithium mining projects, three copper and one gold, totalling $5.9 billion, by companies including by SQM , Gold Fields and An...Read More
Aug 31 (Reuters) - Copper production at Codelco, Chile's state-owned copper mining company, rose 2 percent in the first half of 2018 to 813,000 tonnes, Chief Executive Nelson Pizarro said on Friday.The world ?s top copper miner benefited from rising prices, posting a pretax profit of $1.235 billion in the same period, up 25 percent year-on-year, with a production cost per pound of copper of $1.38,...Read More
Serbia has picked a Zijin Mining, China's largest gold miner and one of the country's top copper producers, to take over its debt-hit copper mining and smelting complex RTB Bor, Minister of Mines and Energy Aleksandar Antic said on Friday.The $1.26 billion-deal, which gives Zijin a 63% stake in the asset, marks the latest expansion of Beijing's economic footprint in the Balkan region.China view...Read More
* U.S. crude output, storage, drilling: https://tmsnrt.rs/2wc5wpr* Global oil markets to tighten toward end of 2018 - IEA* Cushing crude stocks rise 107,433 bbls since Friday -Genscape (Updates with settlement prices)By Jessica Resnick-AultNEW YORK, Aug 30 (Reuters) - Oil prices rose on Thursday to the highest in more than a month, extending gains on growing evidence of disruptions to crude supply...Read More
(Adds details on Indian rupee, China's yuan, analyst comments)By Patturaja MurugaboopathyAug 30 (Reuters) - Most emerging-Asia currencies weakened on Thursday as caution mounted ahead of an upcoming deadline in the China-U.S. trade dispute, while overnight declines in the Turkish lira TRY= dulled risk appetite.The dollar index .DXY against a basket of six major currencies hovered near a four-week...Read More
* NSE index dips 0.18 pct, BSE index down 0.1 pct* Financials drag Nifty index* Futures and options contracts set to expireBy Abinaya VijayaraghavanAug 30 (Reuters) - Indian shares fell marginally on Thursday on profit-booking in financials ahead of the expiry of futures and options contracts later in the day.Gains in consumer and materials stocks were offset by losses in financials, and Asian sto...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftBlack Rock polishes MahengeSPONSOREDblack rock miningSigns point to world-class Galena mineSPONSOREDgalena miningThere is no doubt each individual company has put in place what it sees as the best protections against such events. These measures wil...Read More
PolarX points to upsideSPONSOREDpolarx ltdChile's reputation as LatAm go-to destination faces long-term threats - AnalysisSPONSOREDverisk maplecroftSigns point to world-class Galena mineSPONSOREDgalena miningBlack Rock polishes MahengeSPONSOREDblack rock miningBut if it is so simple, why do we see mineral sands projects disappointing the market? The reality is, mineral sands mining...Read More
The major silver miners' stocks have been thrashed, pummeled to brutal multi-year lows. They suffered serious collateral damage as silver plunged on gold's breakdown, driven by crazy-extreme all-time-record silver-futures short selling. All this technical carnage left investors reeling, devastating sentiment. The silver miners' recently-reported Q2'18 results reveal whether their anomalous plunge...Read More
Shares in Nevada Copper Corp (TSX:NCU) jumped on Thursday after the company's board gave the go-ahead for the construction of its Pumpkin Hollow underground mine.In more than three times the usual trading volumes, Nevada Copper popped 12% higher at the open, before paring some of those gains, for a market value of C$304m.Nevada Copper said in a statement that the decision follows the company's rec...Read More
Canadian commodity firm Cobalt 27 in its earnings filing reported theft of 76 tonnes of cobalt from a warehouse in Rotterdam in early July.A total of 112 tonnes of cobalt, mainly used in lithium ion batteries, was taken from warehouses owned by the Vollers Group in the Dutch city, Bloomberg reported at the time.Cobalt 27's stocks - which were fully insured at market prices according to the Toronto...Read More
DAKAR, Aug 30 (Reuters) - Copper output in Democratic Republic of Congo rose 7.9 percent year-on-year in the first half of 2018 to 597,249 tonnes and cobalt production jumped 37.6 percent to 52,491 tonnes, the central bank said on Thursday.Congo is Africa's top copper producer and the world's leading miner of cobalt, which is a key component in electric vehicles and other electronic products.Gold...Read More
* NSE index down 0.01 pct, BSE index flat* Indian rupee touches record low* Materials, energy leadBy Abinaya VijayaraghavanAug 29 (Reuters) - Indian stock indexes were muted on Wednesday, following record-setting gains in the previous two sessions, as losses in IT stocks offset an advance in energy and materials shares.The NSE index .NSEI was down 0.01 percent at 11,737.05, while the benchmark BSE...Read More
MUMBAI, Aug 29 (Reuters) - Indians returned almost the entire amount of currency withdrawn in the government's note ban of November 2016, raising fresh questions over the purpose of a shock move that triggered a sharp slowdown in the economy.In its annual report, the Reserve Bank of India said the total value of notes returned by the public was 15.3 trillion rupees ($216.7 billion) or 99.3 percent...Read More
* U.S. crude stocks fall more than expected - EIA* Iran oil loadings set to drop below 70 mln bbls in Aug - data* Oil buyers already scaling back orders from Iran (Updates prices, adds comment)By Ayenat MersieNEW YORK, Aug 29 (Reuters) - Oil prices rose more than 1 percent on Wednesday, with Brent at its highest in seven weeks and U.S. crude touching a three-week peak, supported by a drawdown in U...Read More
* FTSE 100 down 0.7 pct at close* Sterling rallies after EU's Barnier offers close ties* Shares in oil producers, consumer stocks weigh* Aston Martin plans IPO (Recasts, adds quote and detail, updates prices at close)By Kit ReesLONDON, Aug 29 (Reuters) - The UK's top share index slid on Wednesday, under pressure from a bounce in the pound on the back of remarks from the European Union's chief nego...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.4 pct* Shares in oil producers, miners weigh* Aston Martin plans IPOBy Kit ReesLONDON, Aug 29 (Reuters) - The UK's top share index dipped on Wednesday, weighed down by commodities-related stocks as optimism over progress in global trade relationships has largely fizzled out.The blue chip FTSE 100 .FTSE index...Read More
(Bloomberg Opinion) -- What’s wrong with the dollar? Barely two weeks ago the Bloomberg Dollar Spot Index reached its highest since June 2017. President Donald Trump tied the strength to confidence in the U.S., boasting in a tweet on Aug. 16 that “money is pouring into our cherished DOLLAR like rarely before.” But since then the greenback dropped as much as 2.2 percent, reaching...Read More
Hudbay to take part of Doubleview's HatM&ASolGold set to shineSPONSOREDsolgold"Never say never," EMR's executive chairman Hegarty told the Africa Downunder conference, but "we think copper is the right way" to "play the whole complex".He also noted the PE firm wa...Read More