LONDON, May 24 (Reuters) - European shares, stuck just below 21-month highs for more than a week, fought for direction in early deals on Wednesday as weakness in mining and autos sectors were offset by strength in oil producers.The pan-European STOXX 600 .STOXX index edged up 0.1 percent, underpinned by a rise in European oil & gas stocks .SXEP . Britain's FTSE 100 .FTSE rose 0.1 percent while Ger...Read More
(Adds details, comments, share movement)May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L on Wednesday posted a 36.6 percent rise in its full-year core profit, driven by firmer commodity prices, but failed to meet analyst expectations.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31, missing analy...Read More
Investing.com - Gold prices were lower in European trade on Wednesday, as investors looked ahead to minutes of the Federal Reserve's latest policy meeting due later in the global day for further hints on the timing of the next U.S. rate hike.Comex gold futures shed $6.20, or around 0.5%, to $1,249.21 a troy ounce by 3:25AM ET (07:25GMT). Meanwhile, spot gold was at $1,249.52.Prices of the yellow m...Read More
May 24 (Reuters) - Mining and energy group Vedanta Resources Plc VED.L said its full-year core profit surged 36.6 percent, driven by firmer commodity prices.The company said earnings before interest, tax, depreciation and amortisation rose to $3.19 billion for the year ended March 31 from $2.34 billion last year. which produces iron ore, copper, aluminium, zinc and oil, said revenue rose 7.3 per...Read More
COURTESY OF SITE SKILLS TRAINING-CLARK.Mothers will do everything to ensure a bright future for their children.For Ofelia Magastino, in her middle age, she took a job unusual to women in her village in the Philippines where they take care of the personal needs of their children at home and accompany the husband when he is engaged on certain gardening tasks, which women in other villages do not do....Read More
Zijin Mining Group paid Canada's Ivanhoe Mines (TSX:IVN) Tuesday the fifth and final instalment of a $412 million deal that gives the Chinese mining giant a 49.5% stake in the Kamoa-Kakula copper project in D.R. Congo, thought to be Africa's most significant deposit of the red metal ever found.The Kamoa-Kakula project is thought to be Africa's most significant copper deposit ever found.State-ow...Read More
Chile's Codelco, the world's top copper producer, plans to introduce key changes to one of its flagship projects - the much-needed underground expansion of its century-old Chuquicamata mine - as lower metal prices call for higher efficiencies.The modifications, filed last week, aim mostly at simplifying some aspects of the project - originally approved in 2010 - to optimize mineral handling, loc...Read More
* STOXX 600 up 0.2 pct* Nokia jumps after settles dispute with Apple* Upgrade boosts Banco BPM* Spanish banks recover (Recasts, adds quotes and detail, updates prices)By Kit ReesLONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent on Tuesday to their highest levels in more than a year, joined by a rise in banking stocks which helped European stock markets edge higher.The pan-European...Read More
(Adds dropped word in headline)LONDON, May 23 (Reuters) - Nokia shares jumped more than 6 percent to their highest levels in more than a year and were a standout in an otherwise sluggish open on European stock markets on Tuesday.The pan-European STOXX 600 .STOXX index was little changed in early deals with mining stocks weaker as metals prices slipped. Germany's DAX .GDAXI rose 0.2 percent while e...Read More
Investing.com - Gold prices held near their strongest level in around three weeks in European trade on Tuesday, as investor sentiment skewed toward safe-haven assets after a suspected terrorist attack at a concert in Britain's city of Manchester.Comex gold futures firmed at $1,261.43 a troy ounce by 3:10AM ET (07:10GMT). Meanwhile, spot gold was at $1,261.60. Prices of the yellow metal rose to an...Read More
* Rapid electric vehicle rollout could double copper use* Glencore has low oil exposure, dominant in copper, cobalt* IEA to review oil demand due to India, China EV policy* Glencore copper production to rise to 1.8 mln tonnes/yearBy Barbara LewisZUG, Switzerland, May 22 (Reuters) - OPEC nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil...Read More
* World FX rates in 2017 http://tmsnrt.rs/2egbfVh* Dollar slips to 6-month low* Oil lifted by expectations of continued supply cut* Defense stocks lift Wall Street on U.S.-Saudi arms deal* Gold, copper, zinc and nickel rise (Recasts with dollar falling; adds oil settlement, updates throughout)By Hilary RussNEW YORK, May 22 (Reuters) - The dollar slipped to a more than six-month low on Monday, weig...Read More
An 18-pages long report released today by the London Mining Network slams Antofagasta Minerals' 60%-owned Los Pelambres copper mine, located in the central-northern of Chile in Coquimbo Region.In a move that comes just a couple of days prior to Antofagasta's (LON:ANTO) annual general meeting in London, the document titled In the Valley of the Shadow of Death? A Report on Antofagasta Plc, Minera Lo...Read More
Rio Tinto (ASX, LON:RIO) launched today a $2.5-billion bond buyback plan with the idea of reducing reduce its gross debt.In a press release, the global miner explained that, under the plan, it has issued a redemption notice for approximately $1.72 billion of its 2019 and 2020 US dollar-denominated notes and commenced cash tender offers to purchase up to approximately $781 million of its five 2021,...Read More
Investing.com - Gold prices were modestly higher in European trade on Monday, starting the week off with small gains as investors continued to assess the impact of the latest bout of U.S. political turmoil.Comex gold futures added $1.30, or about 0.1%, to $1,254.92 a troy ounce by 3:55AM ET (07:55GMT). Meanwhile, spot gold was at $1,255.33.Prices of the yellow metal rose to $1,263.20 last Thursday...Read More
April saw 121 financings close in the Canadian financial markets for C$522.7 million including 55 financings for gold totalling $207.3 million, some 40% of the April total. The top 10 gold financings totalled $167.5 million representing 81% of the total indicating that bulk of funds raised for gold projects are concentrated in a relatively small number of deals.#1 Bluestone Resources C80 millionBl...Read More
Investing.com - Gold prices were higher on Friday and notched the largest weekly gain since mid-April as political uncertainty surrounding the Trump administration pressured the dollar lower, boosting demand for the precious metal.Gold for June delivery closed up 0.18% at $1,255.07 on the Comex division of the New York Mercantile Exchange. For the week, the precious metal was up 2.06%.The dollar c...Read More
* Dollar posts biggest weekly fall since Feb 2015* Best week of 2017 for Brent; WTI up 5 pct* Stocks rally on Wall St but end down for the week (Updates to U.S. market close)By Rodrigo CamposNEW YORK, May 19 (Reuters) - The U.S. dollar fell on Friday and was set to close its worst week in more than a year, with losses steepening after reports an investigation into possible collusion between Russia...Read More
Zinc was the best performing commodity on Friday with LME prices ending at $2,616 a tonne ($1.19 a pound), a 3.3% jump on the day, outperforming sector bellwether copper's 2% gain.After today's move zinc is once again in positive territory for 2017, building on a 60% gain last year on the back of dwindling supply and strong demand from the global automotive sector.Donald Lindsay CEO of Teck Resour...Read More
Democratic Republic of Congo's legislators are set to review next week a long-delayed revision to the mining code, which is said to be crucial for the country, as the nation needs the higher revenues a revised legislation would generate.The country's government abandoned plans to change the mining code in February last year, on fears the move would have driven away investors at a time of historica...Read More