The US government has banned new mining claims close to Yellowstone National Park as the Obama administration steps up efforts to keep the extractive industry out of environmentally sensitive areas before President-elect Donald Trump takes office in January.Temporary ban affects new claims on a 30,000-acres area north of Yellowstone.New mining claims will now be prohibited on about 30,000 acres...Read More
Canada's federal government has granted Seabridge Gold (TSX:SEA) (NYSE:SA) a key licence required for the construction, operation and maintenance of a water storage facility and related works at its massive KSM project in northwestern British ColumbiaKSM mine is expected to have an annual gold output of 1 million ounces during its first seven years of operation.The 25-year permit for Seabridge...Read More
Shares of Teck Resources Ltd. (TSX:TCK.B) were up almost 3% as of press time after the company announced November 21 it has inked a $25 million all-cash deal to purchase AQM Copper Inc. (TSX-V:AQM), a Toronto-based junior miner with a 30% indirect interest in the Zafranal copper-gold project in Peru.Teck already owns a 50% indirect interest in the project, and the move will bring its share to 80%....Read More
(Removes extraneous apostrophe in fifth line.)* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* S&P nears intraday record, poised for closing recordBy Chuck MikolajczakNEW YORK, Nov 21 (Reuters) - U.S. stocks climbed on Monday to approach a record peak, and European equity markets also ad...Read More
* Oil hits three-week high on OPEC prospects, weaker dollar* Copper up on expectations of more China demand* Dollar slips but stays close to highest since 2003* French primary surprise triggers bond market volatility* Europe stocks edge up, Wall St seen opening modestly higherBy Nigel StephensonLONDON, Nov 21 (Reuters) - Oil prices rose to three-week highs on Monday, supported by a weak dollar and...Read More
Investing.com - Gold prices ticked higher in European hours on Monday, but held near the lowest level since May on expectations for a Federal Reserve rate hike and fiscal stimulus by President-elect Donald Trump.Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $6.15, or 0.51%, to $1,214.85 a troy ounce by 3:33AM ET (08:33GMT). It fell to $1,201.30 on F...Read More
At least five miners are dead and 11 are trapped after a landslide swept through a copper mine in southeastern Turkey.The natural disaster happened late last Thursday at the Madenk??y copper mine, located in the ??irvan district of Siirt province. In a statement, private company Park Elektrik A.??. blamed heavy rains for the landslide, and said that mining has been temporarily suspended.Five...Read More
Investing.com - Gold prices fell to the lowest level since May on Friday as the dollar rallied to almost 14-year highs amid a rally driven by the U.S. presidential election and expectations that the Federal Reserve will raise interest rates next month.Gold for December delivery on the Comex division of the New York Mercantile Exchange hit lows of $1,202.05 a troy ounce and settled down 0.74% at $1...Read More
* Wall Street slips, led by healthcare decline* Dollar index set for biggest 2-week rise in 20 months* Oil gains 5 pct on the week on OPEC hopes (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff that left yields...Read More
* Wall Street slips, led by healthcare decline* Dollar index set for biggest 2-week rise in 20 months* Oil down for day on strong dollar, up for week on OPEC hope (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff...Read More
The Canadian province of Quebec has partnered with one of the country's leading firms in risk management and contractor compliance to develop a platform that aims to help local suppliers bid for Plan Nord contracts.Plan Nord is a provincial initiative to invest about $1.3 billion in infrastructure and other projects over the next five years in hopes of attracting $50 billion in public and privat...Read More
Greece has granted Canada's Eldorado Gold (TSX:ELD)(NYSE:EGO) permission to build a plant at its Skouries gold mine in the northern part of the country, one of four major operations the firm has there.Decision unblocks the construction of the plant at Eldorado's Skouries gold mine, one of four major operations the firm has in Greece.The approval comes only a week after Giorgos Stathakis took cha...Read More
While mining companies have resumed projects that were placed in the back burner last year and upped capital spending, employees have yet to benefit from the surge in commodity prices.While most miners have managed to straighten balance sheets, they have not began preparing to deal with a new looming risk - their ability to access workers with the skills needed in an upswing.The issue is not onl...Read More
* Stocks fall, oil hit by stronger greenback* Best two weeks for USD since March 2015 (Updates throughout with U.S. market action, changes dateline from LONDON)By Rodrigo CamposNEW YORK, Nov 18 (Reuters) - The U.S. dollar climbed on Friday to its highest level since 2003 on continued bets on faster inflation and higher interest rates, while Treasuries resumed a selloff that left benchmark yields o...Read More
(Updates futures, adds company news item)Nov 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 2 points on Friday, according to financial bookmakers, with futures FFIc1 up 0.28 percent ahead of the cash market open.* The UK blue chip index closed 0.7 percent higher on Thursday, helped by gains among mining firms. NATIONWIDE: Nationwide Building Society POB_p.L reported a 23 percent...Read More
Nov 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 2 points on Friday, according to financial bookmakers.* The UK blue chip index closed 0.7 percent higher on Thursday, helped by gains among mining firms. RIO TINTO: The government of Guinea has called on Rio Tinto RIO.AX RIO.L to spell out what exactly it has discovered in an internal investigation into payments made to an advi...Read More
During his campaign Donald Trump promised to push through a $500 billion spending program to build bridges, roads, railways, schools and hospitals early next year and the president elect has aspirations of $1 trillion in infrastructure build-out in the US over the next decade.The surge in industrial metals prices and steelmaking raw materials following the surprise victory of Trump has definitely...Read More
The surge in the copper price to near 18-month highs following Donald Trump's win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.The bullishness about the impact of Trump's $500 billion infrastructure plans on demand for the bellwether metal has cooled down considerably.Source: FocusEconomicsIn pre-regular hours trade on Thursday...Read More
(Adds company news items, futures)Nov 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 19 to 21 points, or as much as 0.3 percent, on Thursday, according to financial bookmakers, with futures FFIc1 up 0.16 percent ahead of the cash market open.* The UK blue chip index ended down 0.6 percent on Wednesday after gaining in the previous two sessions, with companies such as jet engine m...Read More
Nov 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 19 to 21 points higher, or up as much as 0.3 percent on Thursday, according to financial bookmakers.* The UK blue chip index ended down 0.6 percent on Wednesday after gaining in the previous two sessions, with companies such as jet engine maker Rolls-Royce RR.L and the country's biggest housebuilder Barratt BDEV.L slipping. ANGLO AM...Read More