LONDON, Oct 29 (Reuters) - Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented t...Read More
Enforcer Gold Corp (TSX-V: VEIN) announced that it plans to complete a non-brokered private placement of up to $1.5 million and acquire a property in the historic mining community of Red Lake, on top of issuing a share consolidation.The property that the Toronto-based miner wants to buy is called the McKenzie Gold property and it is located just northwest of Red Lake, the third largest gold camp i...Read More
* Russia's Novak: No need to freeze or cut oil output levels* Markets nervous after broad decline last week* Trump's sanctions on Iran tested by oil-thirsty China, India(Updates with settlement price, adds commentary)By Stephanie KellyNEW YORK, Oct 29 (Reuters) - Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that out...Read More
* Reliance is India's second most valuable listed company* Shares slump amid domestic woes: https://tmsnrt.rs/2BXsjtu* India's petrol is very expensive: https://tmsnrt.rs/2Ol51EM* Reliance sees long-term future in petrochemicalsBy Koustav Samanta and Promit MukherjeeSINGAPORE/NEW DELHI, Oct 29 (Reuters) - Reliance Industries RELI.NS , currently India's second most valuable listed company, got ri...Read More
* Aircraft sank after crashing into sea, wreckage found* Pilot had asked to return to Jakarta* Plane lost contact 13 minutes after takeoff* No sign of any survivors (Adds authorities taking away 24 body bags)By Cindy Silviana and Bernadette Christina MuntheJAKARTA, Oct 29 (Reuters) - An Indonesian airliner crashed into the sea on Monday, with the likely loss of all 189 people on board, as it tried...Read More
LONDON, Oct 29 (Reuters) - Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented t...Read More
The world's biggest miners are cranking up spending for the first time in half a decade as well as pursuing more takeovers - and investors are flashing hazard lights as commodities prices slide and as doubts swirl over the outlook.Capital expenditure among the 10 largest metals and mining companies is forecast to advance to about $35 billion this year, the first annual rise since 2013, according t...Read More
OTTAWA - Late last month the Tax Court of Canada ruled in favour of Cameco (TSX: CCO; NYSE: CCJ) in the company's decade-long dispute with the Canada Revenue Agency over tax reassessments for the 2003, 2005 and 2006 tax years.Now the CRA says it plans to appeal the decision with the Federal Court of Appeal, a process Cameco estimates would take about two years.Decisions of the Federal Court of A...Read More
Treatment charges (TCs) for spot zinc concentrates continued to rise over the past week after an open arbitrage into China and agreement on higher prices led to a flurry of deals earlier in the month.Meanwhile, spot prices for lead concentrates dropped, although the market was persistently lacking in supply.The zinc market is still in transition from being more tightly supplied than at any other t...Read More
RAPAPORT... Petra Diamonds has appointed former De Beers executive VardaShine as a non-executive director in line with a plan to refresh its leadership,the miner said Monday. Shine was CEO of the Diamond Trading Company - now DeBeers Global Sightholder Sales - between 2006 and 2014, during which sheoversaw the division's move from London to Gaborone. She is currently an independent director of th...Read More
RAPAPORT... De Beers has signed up Alrosa to its blockchain pilot, bringingthe world's two largest diamond producers together for the source-verificationproject. "We believe tracing requires industry cooperation andcomplementation for the sake of a common goal," Alrosa CEO Sergey Ivanov said ina statement Monday. De Beers' Tracr platform tracks diamonds from the miningstage to finished jewelry usi...Read More
(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window.)* Nasdaq leads losses in volatile session* Amazon, Netflix among declining big growth names* Financials, staples mitigate declines* Red Hat surges on $34 bln purchase by IBM (NYSE:IBM)* Indexes down: Dow 0.99 pct, S&P 0.66 pct, Nasdaq 1.63 pct(Adds graphic on FANG stocks)By Lewis KrauskopfOct 29 (Re...Read More
LONDON, Oct 29 (Reuters) - Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented t...Read More
RAPAPORT... Lucapa Diamond Company's sales fell 49% year on year inthe third quarter as the miner withheld a parcel of large stones until afterAngola's new marketing policy goes into effect. Revenue came to $4.5 million from two tenders during thethree months ending September 30, the company reported Monday. Sales volumesdeclined 4% to 5,058 carats, while the average price fell 47% to $893 percara...Read More
RAPAPORT... The Democratic Republic of Congo (DRC) has exportedconflict-free artisanal gold to the US jewelry market for the first time,according to groups involved in the project. The metal from the South Kivu province has gone on sale atcertain Signet Jewelers retail chains, the Responsible Artisanal Gold SolutionsForum (RAGSF) said last week. RAGSF and the US Agency for International Devel...Read More
World's No.1 diamond producer by output Alrosa (MCX:ALRS) has joined rival De Beers' end-to-end diamond blockchain program, aimed at clearing the supply chain of imposters and conflict precious rocks.Anglo American's De Beers, the largest diamond miner by value, began developing its "Tracr" tracking platform last year, but officially launched a pilot program to test the technology in January.With...Read More
Shares in Africa-focused Firestone Diamonds (LON:FDI) climbed Monday after the company said that its 75%-owned Liqhobong diamond mine in Lesotho had a strong start to the second quarter after selling its third most valuable stone to date.The 68-carats white diamond fetched just under $1 million, it said, adding it also sold and a 20-carats fancy yellow diamond at an undisclosed price. Firestone...Read More
Russian diamond miner Alrosa has joined the Tracr diamond industry blockchain traceability platform that fellow miner De Beers is developing.Alrosa’s involvement brings the world’s two largest diamond producers together in the pilot programme that aims to provide enhanced assurance for consumers and trade participants about the authenticity of their diamonds.Advertisement“To prov...Read More
(IDEX Online) - Blue Nile, Inc. the largest online retailer of certified diamonds and fine jewelry, has opened a new facility for its Diamond and Jewelry Consultants, continuing the brand's commitment to providing the industry's most advanced service. At the forefront of innovation, the facility was designed to increase productivity and continue the award-winning customer service...Read More
(IDEX Online) - Yoram Dvash, President of the Israel Diamond Exchange (IDE), has been appointed to head a new committee of the World Federation of Diamond Bourses (WFDB) to undertake strategic initiatives to advance the global industry, the IDE said in a statement. The new appointment was announced during the World Diamond Congress in Mumbai, which concluded last week. IDE President...Read More