In New York on Tuesday copper for delivery in May suffered a second day of markdowns trading at $2.6075 per pound or $5,750 a tonne as output disruptions at the world's biggest mines appear to be closer to being resolved. Copper is down more than 3% this week.Reuters reports Tuesday that top listed copper producer Freeport McMoRan's giant Grasberg mine in Indonesia had resumed staged copper...Read More
On February 14, 2017, President Trump signed into law a joint resolution of Congress to repeal a critical anti-corruption rule for oil, gas and mining companies. The law was introduced by the House on January 30, 2017. It quickly moved to the Senate, where it was passed with the support of the Republicans and opposition of the Democrats.The rule is referred to as the "Cardin-Lugar regulations" and...Read More
Altius Minerals Corp. (ALS:TSX.V, 13.07) is one of our "core" resource companies. It has tremendous expertise in grass roots exploration and has leveraged that skill into a portfolio of royalties. CEO Brian Dalton has also demonstrated-more than most in this sector-the patience and discipline needed to take advantage of the inevitable cycles.Altius has used the downturn of the last few years to ac...Read More
A World Bank's tribunal has ruled in favour of Tethyan Copper Co. (TCC), a joint venture between Barrick Gold (TSX, NYSE: ABX) and Antofagasta (LON:ANTO), in relation to the denial of a mining lease for the multi-billion-dollar Reko Diq copper and gold reserve in the Pakistani province of Balochistan.Ruling confirms that Pakistan violated several provisions of its bilateral investment treaty with...Read More
Chile, the world's No. 1 copper producer, is seeking to attract more investors to its mining sector beyond the well-established copper industry, in an effort to diversify the red metal-depending economy and take advantage of a soaring demand for green energy-related resources such as lithium.As part of the nation's recent efforts, the state mining company ENAMI presented in Canada almost a dozen n...Read More
Investing.com - Gold prices were lower during European morning hours on Tuesday, pulling back from a two-week high as market players awaited comments from a number of Federal Reserve policymakers for more clues on the timing of the next U.S. rate hike.Comex gold futures dipped $5.50, or around 0.5%, to $1,228.40 a troy ounce by 4:05AM ET (08:05GMT).It settled higher for the third session in a row...Read More
(Adds company news items, futures)March 21 (Reuters) - Britain's FTSE 100 futures FFIc1 were flat ahead of the cash market open on Tuesday.* BELLWAY: British housebuilder Bellway BWY.L said on Tuesday it would raise its dividend after posting a nearly 10 percent rise in half-year pre-tax profits, although it warned that labour shortages were pushing up costs in the sector. ENQUEST: North Sea-foc...Read More
March 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 3.5 points on Tuesday, according to financial bookmakers.* SHELL: Royal Dutch Shell RDSa.L said on Tuesday it will drill 161 new gas wells at its Queensland operations by the end of 2018, helping to underpin its promise to continue supplying 10 percent of the domestic gas market to help prevent a shortage. BHP BILLITON: The uni...Read More
According to a new report by private capital tracker Preqin, overall fundraising for natural resources investment actually declined declined by a fifth in 2016 to the lowest since 2012.Coming off a record 2015, 74 funds raised a total of $60bn in 2016 for investment in natural resources, which includes metals and mining, water, timberland and energy. Private providers of capital include pension f...Read More
Investing.com - Gold prices rose to a two-week high during European morning hours on Monday, as the U.S. dollar headed for its longest losing streak since November in wake of the Federal Reserve's dovish guidance on the path of rate hikes this year.Comex gold futures jumped to a session peak of $1,235.50 a troy ounce, the highest since March 6. It was last at $1,232.85 by 4:15AM ET (08:15GMT), up...Read More
(Adds company news items)March 20 (Reuters) - Britain's FTSE 100 futures FFIc1 were flat ahead of the cash market open on Monday.* HANSTEEN: Britain's Hansteen Holdings HSTN.L has agreed to sell its German and Dutch property portfolios for 1.28 billion euros ($1.38 billion) to entities owned by funds advised by affiliates of the Blackstone (NYSE:BX) Group LP BX.N and M7 Real Estate, the company sa...Read More
March 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 1 point higher at 7,426 on Monday, according to financial bookmakers.* The UK blue chip FTSE 100 .FTSE index ended 0.1 percent higher at 7,424.96 points on Friday, closing at a record level but with a stronger sterling capping gains. UNILEVER: Unilever ULVR.L is preparing a 6 billion pound ($7.44 billion) sale of some of its foo...Read More
A 39-day-long stoppage at La Escondida, the world's largest copper mine, may continue for up to three months if the company does not comply with worker's demands, union leaders warned this weekend.After holding a series of meetings throughout Saturday and Sunday, No.1 Union, which has 2,500 members, rejected Minera Escondida's most recent proposal of offering them end-of-conflict bonuses for the e...Read More
Investing.com - Gold prices rose on Friday as expectations of a slower pace of U.S. interest rates hikes than some investors had anticipated continued to weigh on the dollar.Gold for April delivery settled up 0.15% at $1,229.00 on the Comex division of the New York Mercantile Exchange.Gold touched its highest since March 6 on Thursday, at $1,231.4 and ended the week with a gain of 1.92%.The Federa...Read More
Zinc was once again the best performing commodity for the week with LME prices ending at $2,882 a tonne ($1.31 a pound), a 6.7% jump over the last five trading days, outperforming sector bellwether copper's 3.4% gain for the week.Zinc, up 12% year to date, is being buoyed by record refined output in China and tight supply after a number of mine closures.RBC Capital in a recent research note follow...Read More
"With Antamina representing a significant proportion of SLW's production profile, the tour highlighted the opportunity for substantial mine life extension, including the potential to upgrade material and add additional ounces through exploration," analyst Andrew Kaip noted in a March 7 report for BMO Capital Markets."We see Antamina as representing a meaningful proportion of SLW's production pro...Read More
Australian explorer, Emu NL (ASX: EMU), has mobilised camp, earth moving and drilling equipment to the Vidalita site in northern Chile. The camp will be located ~25km from the drill site at an altitude of ~ 4,300m and cater for up to 20 personnel. Earth moving equipment has been engaged to repair the tracks into the site and to assist with setting up the camp and drill sites.Drilling is scheduled...Read More
Talks between Freeport-McMoRan (NYSE:FCX) and striking workers at its Cerro Verde copper mine in Peru broke down Thursday with miners announcing their plan to start an indefinite stoppage beginning March 24.Around 1,300 unionized miners downed tools on March 10, demanding better working conditions as well as a larger share of profits.Around 1,300 unionized miners will start an indefinite stoppage...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, is bringing in former US attorney general William P. Barr to help it sort out tax issues surrounding its Swiss subsidiary, which sparked a federal raid on its Peoria headquarters earlier this month.Barr, who served as US Attorney General under President George Bush from 1991 to 1993, will help the company review and address issues rel...Read More
Canada's British Columbia, the country's most western province, is famous for its natural beauty, but it can not longer brag about how attractive it is to mining investors as perception grows that it may no longer a be welcoming place for mineral exploration.Recent reports offer the mining and exploration sectors some optimism that a four-year-long bear market has ended, although projections ar...Read More