Through a quietly released official announcement, the Federal Environment Secretary of Argentina, Sergio Bergman, informed that Argentina's National Glacier Inventory has just completed a glacier count in the controversial Famatina Mountains, and that the National Glacier Institute (the IANIGLA) recognizes the presence of glaciers and rock glaciers, as well as periglacial environment (permafrost),...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were down on Monday despite reports indicating that Indonesia may issue a temporary permit valid for up to six months to the company's local unit, which could pave the way for the mining giant to resume exports of concentrate from its Grasberg mine in Papua.The temporary permit, valid for up to six months, would...Read More
Australia's biggest gold producer, Newcrest Mining (ASX:NCM) revealed Monday that gold production dropped in the last three months of 2016 as the company lowered production at one of its largest operations and sold a mine in Papua New Guinea.The company said gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620...Read More
NEW DELHI, Jan 30 (Reuters) - India will launch its biggest aero geophysical survey of minerals next month to unearth deep-seated resources such as gold and copper, as it seeks to develop its mining industry and reduce its dependence on imports.The survey will cover more than 200,000 square kilometres across seven states from Rajasthan in the west to the southeastern state of Andhra Pradesh, India...Read More
* Financial shares lead Europe lower after fall in Asia* Wall Street signalled to open lower* Dollar dips vs yen, euro down on inflation undershoot* German inflation hits 3 1/2-year high but misses forcast* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Jan 30 (Reuters) - Shares fell in Europe and Asia on Monday and the dollar dipped against the safe-haven yen a...Read More
Investing.com - Gold prices were higher in European morning trade on Monday, starting the week off with gains as the dollar slumped after immigration curbs introduced by U.S. President Donald Trump heightened concerns about the impact of the new administration's policies on trade and the economy.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange rose $2.35, o...Read More
SHANGHAI, Jan 30 (SMM) – Nonferrous metals fell for the most part on Tuesday January 30 except for a small rise in SHFE tin. SHFE aluminium led the loss by a 1.5% decline, while copper and lead dropped close to 1%.The ferrous market saw mixed trading with iron ore and coking coal up slightly. Coke was down over 1%, as rebar slid 0.6% and hot-rolled coil slipped 0.5%.Copper: We expect copper...Read More
SHANGHAI, Jan 30 (SMM) –Copper: The latest Commitments of Traders report published by the Commodity Futures Trading Commission (CFTC) showed that investors have reduced their long positions following a price drop earlier last week. We see pressure for copper futures prices as Chinese consumptions dwindle ahead of Chinese New Year. The LME contract is expected to trade at $7,070-7,120/mt toda...Read More
Investing.com - Gold ended little changed on Friday, after weaker-than-expected figures on U.S. fourth quarter growth dampened expectations for a faster rate of interest rate hikes this year.Gold for April delivery settled at $1,190.0 on the Comex division of the New York Mercantile Exchange.The precious metal was 1.35% lower for the week, as the stronger U.S. dollar weighed.The annual rate of eco...Read More
SHANGHAI, Jan 29 (SMM) – Nonferrous metals futures remained strong on Monday January 29 as SHFE zinc led the gains with over 3% rise. While SHFE tin and nickel were up some 2%, lead rose 1.5%. Aluminium, however, edged down slightly in the afternoon.The ferrous complex was weaker with coking coal down almost 2%. Both iron ore and coke were down some 1% while hot-rolled coil edged up.Copper:...Read More
SHANGHAI, Jan 29 (SMM) – SMM’s assessment of imported copper concentrate treatment charges (TCs) stood at $74-86/mt as of Friday January 26, down $1/mt from a week ago.We expect spot TCs to remain stable at the $80/mt level ahead of Chinese New Year with sluggish trading activity as smelters have mostly finished their restocking.The malfunction of Pasar and Birla smelters saw some long...Read More
SHANGHAI, Jan 29 (SMM) - Copper: The physical market has been sluggish with the approaching Chinese New Year dragging copper prices. However, a weak US dollar would prevent them from dropping dramatically. We expect the SHFE 1803 contract to trade at 53,000-53,500 yuan/mt today and the LME copper at $7,060-7,110/mt. Spot discounts are seen stable at 160-100 yuan/mt.Aluminium: We see LME alumi...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, was hammered down on Wednesday after the US company announced fourth quarter earnings below expectations and warned about problems at its operations in Indonesia.But the stock soon rallied and on Friday, Freeport was trading up 3.7% in New York, bringing gains so far in 2017 to more than 24%. The pundits favouri...Read More
The South African government has singled out two of the country's biggest gold miners, Sibanye Gold (JSE:SGL) (NYSE:SBGL) and AngloGold Ashanti (JSE:ANG) (NYSE:AU), as responsible for risking workers lives by refusing to comply with mining laws."If companies cannot mine safely, they should not be mining at all, and should allow other potential holders," the Department of Mineral Resources said i...Read More
Gold dipped to a two-week low on Monday hurt by a stronger dollar and investors moving money into equities with major US stock markets continuing to trade at record levels.Gold for delivery in February, the most active contract on the Comex market in New York, was exchanging hands at $1,187.20 in late afternoon dealings, trimming year-to-date gains for the metal to 3%.Upside risks include geopoli...Read More
Anglo American (LON:AAL) reported Thursday higher output for most of the commodities it mines during the fourth quarter of last year, except for copper, which output declined a staggering 19% compared to the same period a year earlier.Anglo saw operational improvements across its portfolio, but copper output suffered from lower grades, bad weather and strikes at its Chilean mines.The significant d...Read More
(Adds company news item)Jan 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 13 to 18 points, or as much as 0.3 percent higher, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* The UK blue chip index closed up 0.2 percent at 7,164.43 points on Wednesday.* ANGLO AMERICAN: Anglo American AAL.L on Thursday reported an increase in p...Read More
Investing.com - Gold prices were at a two-week low in European morning trade on Thursday, as stocks around the world extended a rally after the Dow climbed past 20,000 for the first time overnight, dampening the metal's safe-haven appeal.Gold for February delivery on the Comex division of the New York Mercantile Exchange fell $2.00, or around 0.2%, to $1,195.85 a troy ounce by 4:10AM ET (09:10GMT)...Read More