Global miner BHP Billiton Ltd posted record iron ore output for fiscal 2018 on Wednesday as fourth-quarter production topped expectations and set a slightly higher target for the current year.Shares in the miner jumped more than 3% after both quarterly and full-year production rose 3% on improved productivity."BHP's FY18 production was in line with or slightly better than our expectations in all m...Read More
Investing.com - Gold prices fell to a two-and-a-half year low on Tuesday, as a stronger dollar weighed on the precious metal and Federal Reserve Chair Jerome Powell backed gradual rate increases.Comex gold futures for August delivery decreased 0.86% to $1,229.20 a troy ounce as of 10:37 AM ET (14:37 GMT).The price of gold fell as Powell reiterated the central bank should gradually increase interes...Read More
* MSCI Asia-Pacific index down 0.3 pct, Nikkei adds 0.8 pct* Spreadbetters expect European stocks to open a touch higher* Sharp decline by crude oil weighs on energy shares* Markets await Fed chairman's first congressional testimonyBy Shinichi SaoshiroTOKYO, July 17 (Reuters) - Asian stocks were mostly lower on Tuesday, with a sharp decline in crude oil prices weighing on energy shares, while the...Read More
Canadian scientists from Laurentian University have found that waterbodies impacted by decades of mining activity could be a potential new source of antibiotics.The group, led by Dr. J.A. Scott, a bioengineering professor, examined lakes and rivers located within five kilometres of abandoned Northern Ontario mine sites. The goal was to determine whether those stressed environments could produce al...Read More
It's the mining world's biggest dilemma: everyone's hunting for copper deals, but even the richest producers just can't pull the trigger.The largest miners all say they're bullish on copper and looking for growth in the metal that's forecast to be in ever-greater demand as cities expand and electric vehicles gain traction. The industry has deep pockets for deals right now - Rio Tinto Group may end...Read More
The London Metal Exchange (LME), the world's biggest and oldest market for industrial metals, is implementing an "implied pricing" functionality, a set of synthetic monthly prices, in an attempt to offset increasing competition from other exchanges such as those operated by CME Group.Starting on July 30, the exchange will provide the service for the six main base metals - copper, aluminum, zinc,...Read More
Base metals producer Nevsun Resources (TSX:NSU) has once again dismissed a takeover offer by Lundin Mining (TSX:LUN), as it believes the Cdn$1.4 billion (about $1.1bn) bid ignores the fundamental value of the company and its assets.Chief Executive Officer Peter Kukielski said Lundin's notional takeover offer represents only a 13 % premium to Nevsun's shares trading price, which closed Monday at Cd...Read More
* FTSE 100 down 0.8 pct* China data, trade worries, oil drop weigh* Downgrade hits Micro Focus * Indivior soars as court blocks sale of rival drug (Adds details closing prices)By Kit Rees and Danilo MasoniLONDON, July 16 (Reuters) - Britain's top share index retreated on Monday as soft Chinese data hit miners amid persistent worries over global trade.The blue chip FTSE 100 .FTSE index fell 0.8 pe...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.1 pct* China data, trade worries weigh* Downgrade hits Micro Focus * Indivior jumps after co wins preliminary injunctionBy Kit ReesLONDON, July 16 (Reuters) - The UK's top share index retreated on Monday as a stronger pound weighed while soft China data hit miners amid persistent worries over global trade.Br...Read More
(Bloomberg) -- After U.S. moves on global trade policy that have shredded decades of trust, watch out for deals to be struck before the midterm elections in November, Citigroup Inc (NYSE:C). said, flagging a potential rebound in commodity prices toward the year-end that’s aided by still-robust fundamentals.“U.S. trade actions have been brutal and unilateral and have punctured the t...Read More
(Bloomberg) - South Africa's mining industry is heading for the deadliest year since 2012 after six people died in an underground fire at Palabora Mining Co.'s copper operation.Sunday's accident brings the industry's total to at least 54 and is the second-worst incident this year after seven people died at a Sibanye Gold Ltd. mine when an earth tremor cased a rockfall. The incident will be invest...Read More
Investing.com - The strong dollar looks likely to remain a significant headwind for gold this week, with bearish price action in the precious metal looking set to continue despite growing risk aversion.Metals traders will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.Powell will likely face questions...Read More
The Chilean government asked both workers and management at BHP's (ASX, NYSE:BHP) Escondida copper mine, the world's largest, to put an end to the labour conflict they have been dragging for months now and that needs to be resolved before a 30-month contract expires on July 24.Speaking to local media, Finance Minister Felipe Larra?-n said an agreement must be reached soon to avoid a strike and, th...Read More
On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile's Atacama Desert, before throwing 80-kilo (180-pound) slabs of copper to the ground and disappearing into the dark.It's a tactic known as "the cat" and the robbers are "moles" because no one knows where they come from or where they hide their loot. What's worse for the mines that dot the desert, the robbe...Read More
It's been a decade since the Argentinian government last polled its mining sector but this week some results from a census carried out in 2106 were made public.According to the document the National Institute of Statistics and Census made available online, over 1,500 mining companies were operating in the South American country in 2016. Their extractive activities generated $1,329 million while th...Read More
(Adds Siemens (NS:SIEM), Nova Ljubljanska Banka, Boeing (NYSE:BA) Co, Comcast, AT&T, Lazard Ltd, Eversource Energy, Xerox, French oil and gas major Total )July 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Friday:** French oil and gas major Total TOTF.PA said that it has completed a $1.5 billion deal to acquire Engie's ENGIE upstream Liq...Read More
* Fears Chinese trade surplus could inflame dispute* Dollar rises, gold falls on trade war concerns* U.S., European stocks steady* Oil drops 4 percent this week (Adds Wall Street open; changes dateline from LONDON; recasts with U.S. dollar, updates throughout)By Hilary RussNEW YORK, July 13 (Reuters) - The safe-haven U.S. dollar touched to a two-week high on Friday after data showed a record Chine...Read More
(Bloomberg) -- The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims.The Bloomberg Commodities Index, a measure of 26 raw materials, lost 3 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green.Soybeans have been hardest hit, with pricing falling to the l...Read More
* Fears Chinese trade surplus could inflame dispute* Oil drops four percent this week* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tom FinnLONDON, July 13 (Reuters) - World stocks rose for a second consecutive week on Friday as investors prepared for an expected run of strong earnings in the United States, although fears about the U.S.-China trade conflict kept gains in check and pu...Read More
(Adds company news, futures)July 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 41 points higher at 7,693 on Friday, according to financial bookmakers, with futures FFIc1 up 0.50 percent ahead of the cash market open.* EXPERIAN: Experian Plc EXPN.L , the world's biggest credit data company, racked up a 10 percent year-on-year rise in revenue in the first quarter at constant exchange...Read More