HARARE, Nov 5 - Zimbabwe will announce in two weeks the successful bidders for assets owned by state-owned mining company ZMDC, including gold mines, the mines minister said on Monday, adding more companies would be put on sale at the end of November.Selling struggling state-owned companies, known locally as parastatals, is part of President Emmerson Mnangagwa's wider reforms to cut government exp...Read More
TORONTO, Nov 5 - If all goes according to plan, Barrick Gold will have fewer mines and workers one year after acquiring Africa-focused Randgold Resources, the Canadian miner's executive chairman said on Monday, as its investors approved the deal.Votes were 99.8 percent in favor of the $6.1 billion, no-premium transaction, Barrick said, confirming a Reuters report. After Randgold's Nov. 7 vote, the...Read More
Continue...Marin Katusa has worked directly with and financed many companies of well-known individuals in the resource industry and has become one of the most trusted and well connected dealmakers in the junior resource sector. During this time, he has become one of the most successful portfolio managers in the resource sector, such as his 2009 Fund Partnership (KC50 Fund, LLC) which has outperfor...Read More
China's domestic rebar prices dropped on Monday November 5, with market participants taking a pessimistic view on demand and supply. Domestic Eastern China (Shanghai): 4,630-4,660 yuan ($672-676) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 4,450-4,480 yuan per tonne, down 10-20 yuan per tonneSpot rebar prices fell on Monday amid early-hours losses in the futures market...Read More
IAMGOLD is considering two mine plan scenarios at its Sumitomo Metal Mining (TYO: 5713) joint-ventured C??t?(C) gold project in northern Ontario, according to a feasibility study the company recently announced.The base case open pit mine plan outlines a US$795 million after-tax net present value (NPV) at a 5% discount rate and a 15.2% after-tax internal rate of return (IRR). The second scenario, c...Read More
TUNIS (Reuters) - Tunisian Prime Minister Youssef Chahed will announce a partial cabinet reshuffle this week, three sources said on Monday, as he faces mounting pressure over the government’s failure to revive the economy, including from his own party Nidaa Tunis.Chahed will make changes to at least six portfolios, including Tourism, Energy, Health and Transport, one of the sources said, whi...Read More
LONDON (Reuters) - Oil prices steadied on Monday as U.S. sanctions against Iran’s fuel exports began but were softened by waivers allowing major buyers to import Iranian crude for a while, as Tehran said it would defy Washington and continue to sell.Brent crude oil LCOc1 was unchanged at $72.83 a barrel by 1230 GMT. U.S. light crude CLc1 was 15 cents lower at $62.99.Both oil benchmarks have...Read More
LONDON, Nov 5 - The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research.Data shared with Reuters support comments from major miners, including BHP and Rio Tinto , which say their strategy is to build or to "smart buy", if they can...Read More
North Dakota, Michigan, Missouri and Utah will all be voting on various bills further legalizing marijuana in their states Continue...Read More
Lara Exploration (TSXV: LRA) and Capstone Mining Corp (TSE: CS) signed a Letter of Intent granting the latter an exclusive option to earn up to a 70% interest in the Lara's Planalto Copper Project.Planalto is a 4,726-hectare property located in the Caraj??s Province of northern Brazi, near Vale's Sossego copper mine and Oz Minerals Antas copper mine. The exploration licenses cover meta-volcano-sed...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), which last month announced it was buying Randgold Resources (LON:RRS) in a $6.1-billion deal, is said to have resumed talks with rival Newmont Mining (NYSE:NEM) aimed at merging their gold operations in Nevada, US."They have been trying to negotiate for years but Newmont couldn't agree with Barrick, now that you have a new management team, it's certain they...Read More
"It's potentially a big licence, and it does say the end user is the air force," said spokesman for the London-based NGO Campaign Against Arms Trade, Andrew Smith. Continue...Read More
(Reuters) - Lowe’s Companies Inc (LOW.N) is closing 20 underperforming stores in the United States and 31 in Canada as part of a restructuring, the home improvement retailer said on Monday.Lowe’s, which has trailed Home Depot (HD.N) in sales for years, is in the midst of a turnaround under new Chief Executive Officer Marvin Ellison, who has promised to remove slow-selling products and...Read More
(Reuters) - Verizon Communications Inc said on Monday it will reorganize its business segments into Consumer, Business and Verizon Media Group/Oath to focus on the types of customers it serves.The reorganization under Chief Executive Officer Hans Vestberg, who was named to the top job on Aug. 1, is a shift from the previous operating structure split between wireless and wireline and included the l...Read More
Venezuela's government is trying to bring 14 tonnes of gold held in the Bank of England back to VenezuelaContinue...Read More
The current silver bottoming process is similar to that of 2001 to 2003. Continue...Read More
Sector expert Clive Maund reviews recent activity for this company's stock and sees blue sky ahead. Although American Pacific Mining Corp. (USGD:CSE; USGDF:OTC) hasn't advanced much on a net basis since it was recommended on the site a few weeks back, its technical condition has strengthened considerably, as we can see on its latest charts.On the 3-month chart, selected to show recent action in d...Read More
The precious metals sector continues to be viewed with disdain, posits technical analyst Clive Maund, who discusses the factors that he sees are behind changes in the market. The precious metals sector continues to be viewed with disdain and skepticism by the vast majority of investors, which is exactly what you want and expect to see at the earliest stages of a major bull market. However, the ch...Read More
Peter Schiff is an internationally recognized ecoanomist specializing in the foreign equity, currency and gold markets. Mr. made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWeek, Tim...Read More
BERLIN, Nov 5 (Reuters) - German Chancellor Angela Merkel said on Monday that her Christian Democrats (CDU) had agreed they would like to continue heading up the federal coalition government with the Social Democrats (SPD) and Bavaria’s Christian Social Union.“I believe that what is important for the SPD - and this is justifiable - is that we, as the CDU, continue to feel committed to...Read More