The price of shredded ferrous scrap imported into India edged up this week ahead of an expected a slowdown for the religious festival of Diwali, sources told Fastmarkets on Friday October 26.Fastmarkets' weekly index for containerized imports of shredded scrap into India inched up to $355.67 per tonne cfr Nhava Sheva on October 26, from $354.42 per tonne cfr Nhava Sheva on October 19.Deals this we...Read More
TORONTO (Reuters) - Barrick Gold Corp (ABX.TO) could have nine of the world’s top gold mines in a relatively short time under its $6.1 billion acquisition of African miner Randgold Resources Ltd (RRS.L), Barrick Executive Chairman John Thornton said Thursday.Barrick and Randgold will focus on Tier 1 assets, ones that produce 500,000 ounces of gold annually, have a mine life of more than 10 y...Read More
This weekend, Aben Resources CEO Jim Pettit will speak at the San Francisco Silver and Gold Summit. Gathering the top thought leaders, CEO's, investment professionals and retail investors from around the world, the Silver and Gold Summit provides an unmatched opportunity for investors to get a behind the scenes look at how to make money investing in the resource industry.Currently, Aben is focusi...Read More
SASKATOON - Cameco Corp. says the Canada Revenue Agency is appealing a Tax Court decision that was in the company's favour.The Saskatoon-based uranium miner estimates it will take about two years for the Federal Court of Appeal to hear and decide the case.Last month, Cameco says the Tax Court ruled its favour in the case which centred around its use of a subsidiary in Switzerland to sell and trade...Read More
Comex copper prices dipped Friday morning in the US with a stronger dollar providing a serious headwind against the base metals complex.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 2.50 cents to $2.7295 per lb. Broad strength in the dollar, which is trading at its highest level since July, is proving the most prominent headwind to bas...Read More
MIAMI (Reuters) - Federal authorities investigating the pipe bombs sent to prominent Democrats and critics of U.S. President Donald Trump are focusing on Florida, where they believe at least some of 10 packages originated.A police bomb squad and canine units joined federal investigators on Thursday to examine a sprawling U.S. mail distribution center at Opa-Locka, northwest of Miami, Miami-Dade Co...Read More
A summary of Glencore's third-quarter production results for the three months ended September 30 (own-sourced output volume, year-on-year change):Copper - 366,900 tonnes, + 21% Increase reflects the restart/ramp-up of Katanga operations in the Democratic Republic of Congo. Katango restarted in December 2017. Own-source copper metal from Katanga increased by 10% quarter on quarter to 39,300 tonnes...Read More
Many people fantasize about hitting a lottery jackpot. And yeah, sure, I'd love to win a lottery. Anyone would.But call me crazy - I think it's more exciting to earn money through fantastic investments rather than just getting extremely lucky.While countless people daydream of winning the Mega Millions, I fantasize about being able to go back in time and invest in groundbreaking technologies.Imag...Read More
DUBAI/ISTANBUL (Reuters) - Saudi Arabia’s public prosecutor said on Thursday the murder of journalist Jamal Khashoggi in the kingdom’s Istanbul consulate this month was premeditated, reversing previous official statements that the killing was unintended.The death of Khashoggi, a Washington Post columnist and critic of de facto Saudi ruler Crown Prince Mohammed bin Salman, has sparked g...Read More
The continuing use of trade tariffs applied to global movements of steel and aluminium products is expected to open up opportunities for strategic investors in metals and mining which are looking to consolidate and stay competitive, according to a report by global consultancy firm PwC.PwC noted that foreign businesses are starting to target inbound mergers and acquisitions (M&A) activity in the Un...Read More
* Robust GDP could send dollar higher * Euro under pressure after ECB's Draghi fails to boostconfidence * Australian dollar hits a near 33-month low * Yen strengthens as investors seek safety from equitylosses * Graphic: World FX rates in 2018 (Adds detail on safe-havens, updates prices)By Tom FinnLONDON, Oct 26 (Reuters) - The dollar rose to a 10-week highon Friday as investors waited to see if U...Read More
Oct 26 (Reuters) - Glencore Plc on Friday reporteda 12 percent rise in copper production so far this year, whilecobalt production rose 44 percent, boosted by the restart ofKatanga's processing operations in the Democratic Republic ofCongo. The London-listed miner and commodities trader, whichposted record half-year earnings in August, said then it hadbeen facing higher costs and weak prices for co...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
BUDAPEST (Reuters) - Thousands rallied in Budapest on Friday on behalf of a university founded by U.S. financier George Soros which says it is being forced out of Hungary by the nationalist government of Prime Minister Viktor Orban.Orban, who believes that European culture is under threat from migration and multiculturalism, has for years vilified the liberal Soros, who was born in Hungary and bac...Read More
PLANTATION, Fl. (Reuters) - FBI agents arrested a 56-year-old man in Florida on Friday suspected of sending more than a dozen parcel bombs to high-profile critics of U.S. President Donald Trump days ahead of congressional elections, authorities said.Agents who took Cesar Sayoc into custody in Plantation, near Fort Lauderdale, also hauled away a white van that was plastered with pro-Trump stickers,...Read More
BERLIN, Oct 26 (Reuters) - A majority of euro zone countries favour the single currency area adopting a fiscal capacity, or common budget, French Finance Minister Brune Le Maire said on Friday.“There is a real change in the eurogroup and within the EU. A clear majority now support such a capacity,” he said after meeting German Finance Minister Olaf Scholz in Berlin. “Call it a fi...Read More
WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions said on Friday that Cesar Sayoc, the suspect in a raft of suspicious packages sent to prominent Democrats and others, is in the custody of the FBI and has been charged with five federal crimes.Sayoc faces up to 58 years in prison if found guilty, Sessions said at a press conference announcing the charges.“We will not tolerate such la...Read More
China's domestic spot battery-grade lithium carbonate prices have started to move up this week after continuous price decreases since November 2017 due to reduced production from Qinghai, stronger industrial-grade lithium carbonate prices and lower stocks of lithium compounds.China's battery-grade lithium hydroxide prices held steady on quiet demand, while prices for the rest of the world went dow...Read More
(Adds market reaction, background)WASHINGTON/BUENOS AIRES, Oct 26 (Reuters) - The International Monetary Fund on Friday increased the size of a standby financing agreement for Argentina to about $56.3 billion, closing a deal the country has said would come with tougher fiscal measures.Argentina's President Mauricio Macri agreed to a $50 billion IMF deal in June, hoping it would stop a run on the c...Read More
NEW YORK (Reuters) - Three former London-based currency traders were found not guilty on Friday of U.S. charges that they schemed to rig benchmark exchange rates, the latest criminal convictions to emerge from a U.S. probe into the multitrillion-dollar foreign exchange market.Chris Ashton, Rohan Ramchandani and Richard Usher, who worked at Barclays Plc (BARC.L), Citigroup Inc (C.N) and JPMorgan Ch...Read More