BELGRADE, Aug 28 (Reuters) - China's Zijin Mining and Russian-owned U Gold have sent valid bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, mining and energy minister Aleksandar Antic said on Tuesday.In July, Belgrade invited bids for a partner to invest at least $350 million in debt-laden RTB Bor but did not say how big a stake it would offer in return.Under the...Read More
BEIJING, Aug 28 (Reuters) - Jiangxi Copper Co, one of China's biggest copper producers, said on Tuesday that its net profit rose 53.9 percent year-on-year in the first half of 2018 due to higher copper prices.The Nanchang-based company said its first-half net income came in at 1.28 billion yuan ($186.21 million), versus 830.2 million yuan a year earlier.In April, Jiangxi Copper reported first-quar...Read More
Jaguar Land Rover Classic has dropped a bombshell in the growing electric vehicles (EVs) sector by announcing the start of production for its 'E-Type Zero' car, said to be "the most beautiful" of its kind in the world.Designed by Italian racing driver Enzo Ferrari, the body and style of this electric car was inspired by the E-Type series of the 1960s.Customers who already own classic E-types wi...Read More
Copper prices have faltered in recent months, prompting prognosticators to revive one of the more tiresome tools of market divination. When copper prices decline, conventional wisdom has it, there's trouble brewing for the global economy, given the centrality of the metal to so many vital industries.Copper's predictive powers have prompted many pundits to dub copper the "only metal with a Ph.D. in...Read More
MUMBAI, Aug 27 (Reuters) - The stock-broking arm of India's Axis Bank AXBK.NS on Monday began offering commodity derivatives trading on the Multi Commodity Exchange MCEI.NS platform, making it the first subsidiary of a bank to offer the service.The Reserve Bank of India had allowed bank subsidiaries to provide commodity broking services in September last year, as the Securities and Exchange Boar...Read More
* NSE, BSE indexes at record closing highs* Nifty breaches 11,700 levelAug 27 (Reuters) - Indian shares closed at record levels on Monday, with the NSE index breaching the 11,700 level for the first time, helped by positive global cues and gains in bank stocks.Both the benchmark BSE index .BSESN and the broader NSE index .NSEI ended roughly 1.2 percent higher at all-time highs. The BSE index cross...Read More
* Wall St rises on U.S.-Mexico trade deal, supporting oil prices* Oil producers cut output more than agreed -OPEC+ committee* Iran's Rouhani asks Europe for guarantees on oil sales (Updates with settlement prices, adds commentary)By Stephanie KellyNEW YORK, Aug 27 (Reuters) - Oil prices edged up on Monday, supported by a strengthening equities market and news that the United States and Mexico agre...Read More
* Mexico, U.S. reach agreement on trade* S&P 500, Nasdaq indexes hit record highs* German business sentiment brightens (Updates to reflect U.S.-Mexico trade agreement)By Trevor HunnicuttNEW YORK, Aug 27 (Reuters) - An index of major world stock markets rose to its highest level in more than five months on Monday after the United States and Mexico struck an agreement that lowers trade tensions....Read More
* S&P 500, Nasdaq indexes hit record highs* Mexico, U.S. seen closer to NAFTA deal* German business sentiment brightens (New throughout, updates prices, market activity and comments to U.S. stock market open; new byline, changes dateline, previous LONDON)By Trevor HunnicuttNEW YORK, Aug 27 (Reuters) - An index of major world stock markets rose to its highest level in more than five months on M...Read More
Investing.com - Gold prices were higher on Monday, as a weaker U.S. dollar and trade tensions boosted the precious metal.Comex gold futures for December delivery rose 0.44% to a one-week high of $1,218.60 a troy ounce as of 10:30 AM ET (14:30 GMT).U.S. and Mexican officials are meeting in Washington to discuss the North American Free Trade Agreement (NAFTA). The two sides are "hours" away from rea...Read More
Gold's impressive rally continues to accelerate. Key fundamental and technical price drivers are playing a bullish song with almost perfect harmony.Please click here now. Double-click to enlarge what may be the most beautiful weekly chart continuation pattern in the history of markets.Note the awesome stance of the RSI and Stochastics oscillators as gold begins to ascend from the right shoulder...Read More
For those who work at a mine site on a day-to-day basis, seeing huge mountains of organic matter aimed at future site reclamation may be a common occurrence that doesn't provoke much thought. But for Lauchlan Fraser, those mountains represent an unexplored universe ready to be scrutinized.For a while now, a question has been roaming the mind of the Biology professor: "Can soil from an old, large s...Read More
Chile's state-owned Codelco, the world's largest copper producer, said on Monday it offered a new contract proposal to striking workers in hopes of ending a small strike at its Andina mine.The 83 unionized workers of the Plantas de Andina union went on strike a week ago after talks with the company over salaries and bonuses in a new contract broke down."This afternoon, the company presented the ne...Read More
Polish miner KGHM (WSE:KGH), Europe's second-largest copper producer, was given Monday environmental approval for a $2 billion expansion and upgrade of its flagship Sierra Gorda mine in northern Chile, 60 km south-west of the town of Calama.The state-controlled company grabbed the copper and molybdenum project in 2012, after completing the acquisition of Canadian rival Quadra FNX, in what was the...Read More
Investing.com - Trade-related headlines could be the main driver of sentiment in the week ahead, as investors watch further developments in the ongoing trade spat between the U.S. and its major trading partners.The ongoing trade tensions have left investors fearful than any escalation could results in a global economic slowdown or a hit to corporate profits.Meanwhile, on the data front, a report o...Read More
Investing.com - Gold prices look likely to remain vulnerable to swings in the dollar this week as the precious metal’s inverse relationship to dollar continues to offset safe haven demand.With another fairly light week on the economic calendar investors will continue to monitor developments on the U.S. political front after a bruising week for President Donald Trump, following the criminal c...Read More
Investing.com - The oil market is likely to remain on edge about potential oversupply in the upcoming week, despite signs that U.S. sanctions on Iran could curb output.Worries that a trade dispute between the United Stated and China would slow economic growth and hurt demand for oil have been at the forefront of the market recently.Despite these worries, the crude market will likely draw support f...Read More
Gold, base metals downCapital marketsSo far, the chaos in Canberra, which saw a popular prime minister in Malcolm Turnbull displaced in an Aussie version of a palace coup, has been largely ignored by financial markets.Read More
Manganese X Energy (TSXV: MN), a company that claims to focus on ethically sourced minerals, announced this week that it has signed a Property Option Agreement to acquire the Peter Lake copper-nickel-cobalt project located in the Mont-Laurier Terrane, in the Central Grenville Province, Quebec.The company said it will be exploring for cobalt and possible gold-platinum-palladium at the eastern Canad...Read More
JAKARTA, Aug 25 (Reuters) - Highlights of day eight of the 18th Asian Games in Jakarta and Palembang on Saturday (times GMT):1543 CHINA EXTEND LEAD AT TOP OF MEDALS TABLEChina added six more gold medals to their tally on Saturday, including victories in tennis, athletics and shooting, to sit on top of the standings ahead of Japan and South Korea.COUNTRYGOLDSILVER BRONZE TOTAL CHINA725130153 JAPAN3...Read More