Ecuador has tethered its economic fortunes to a burgeoning mining industry. Now it just needs to get bureaucrats and community leaders on board.Local opposition and red tape are hindering plans to become a mining superpower that can rival other South American nations. Less than two years ago the government hoped mining would become 4 percent of Ecuador's gross domestic product by the end of Presid...Read More
Ecuador has tethered its economic fortunes to a burgeoning mining industry. Now it just needs to get bureaucrats and community leaders on board.Local opposition and red tape are hindering plans to become a mining superpower that can rival other South American nations. Less than two years ago the government hoped mining would become 4 percent of Ecuador's gross domestic product by the end of Presid...Read More
The biggest trading volume in copper call options on record signals supply troubles brewing in the market.A spread trade worth $6.5 million was posted just after 7 a.m. on Comex in New York in a bet that the price of the metal used in wires and pipes will surge past $3.05 in a few months, from Monday's settlement price of $2.909.Copper production will trail consumption by 116,000 metric tons this...Read More
A new mine in Saskatchewan will change the way potash is produced and sold.The Saskatoon-based Gensource Potash Corporation plans to build a mine between Eyebrow and Tugaske, about one hour northwest of Moose Jaw. The Vanguard One project is currently in the financing phase and if everything goes as planned, construction is expected to begin this spring.Construction will create about 150 jobs and...Read More
Chinese iron ore prices rose for a sixth straight session on Tuesday as Brazil's Vale faced further restrictions at its iron ore operations, adding to concerns about tight supply of the steelmaking raw material. A Brazilian court on Monday ordered Vale, the world's largest iron ore miner, to halt operations at two more dams, adding pressure on the miner to prove that its remaining dams are safe.St...Read More
Nickel Asia Corp, the Philippines' top nickel ore producer, expects its 2019 shipments to be unchanged from last year, although it plans to increase its domestic sales to maximise profits, its chief financial officer told Reuters.Nickel Asia accounts for about half of the nickel ore output in the world's second-biggest supplier of the metal. Its ores are exported to customers in China and Japan, w...Read More
British chemicals firm INEOS said on Tuesday it would buy Cristal's North American titanium dioxide business from Tronox for $700 million."This is a great opportunity for INEOS to enter the pigments market and become the second largest producer of titanium dioxide in the key North American market," Jim Ratcliffe, INEOS chairman said in a statement.($1 = 0.7524 pounds)(By Elisabeth O'Leary; Editing...Read More
Norsk Hydro ASA, one of the world's biggest aluminum producers, suffered production outages after a cyber attack affected operations across Europe and the U.S.The company called the situation "quite severe" and was still working to contain the effects of the ransomware, a kind of malicious software that typically blocks access to a computer system unless a ransom is paid.Hydro couldn't detail how...Read More
It's widely expected that interest rates won't change Dow Jones Industrial Average (DJI) futures are confidently above fair value today. Should today's pre-market price action hold, the blue-chip index could take aim at a five-day winning streak -- which would mark its longest since early January. The two-day Fed meeting will get underway later today, but no rate hike is expected to be announced...Read More
Chile's Codelco, the world's No. 1 copper producer, is set to ink a long-awaited deal with Ecuador-controlled miner Enami EP to develop a jointly-owned copper project in the Andean country.The 982-million-tonne Llurimagua copper project, located in the Imbabura Province, about 80 km northeast of Ecuador's capital, Quito, is in the advanced exploration stage and could become the first mine Codelco...Read More
• The prevalent USD selling bias continues to underpin for the third straight session. • Improving risk-sentiment seemed to keep a lid on any strong follow-through up-move. • Investors also seemed reluctant to place aggressive bets ahead of FOMC on Wednesday. Gold trimmed a part of the early gains to multi-day tops, albeit has m...Read More
Montr?(C)al, QC - Siyata Mobile Inc. (TSX-V:SIM | OTCQX: SYATF) (the "Company" or "Siyata"), is pleased to announce it has received proceeds of $6.19 million as a result of warrants which expired on March 18, 2019, representing the largest injection of capital the Company has received since going public in July 2015.Marc Seelenfreund, CEO of Siyata Mobile states, "We are pleased to receive...Read More
It seems that buyers have rediscovered their appetite for London-listed equitiesAs the U.K. government continues to vote on various facets and permutations of their impending "Brexit" from the European Union (EU) on what now seems to be a near-daily basis, the iShares MSCI United Kingdom ETF (NYSEARCA:EWU) has rebounded sharply from its bear-market lows of Christmas Eve 2018. Shares of the exchang...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, March 19 (Reuters) - Aluminium touched a three-monthpeak on Tuesday after major producer Norsk Hydro washit by a cyber attack, causing its giant smelters to switch tomanual operation and some extrusion plants to be shut.Other industrial metals also gained ground on optimism abouteasy monetary policy ahead of a U.S. ce...Read More
* U.S. central bank to start two-day policy meeting * Dollar down 1.3 pct over last 10 sessions * Aussie trims gains after RBA minutes * Graphic: World FX rates in 2019 (Adds context, graphics, updates prices)By Tom FinnLONDON, March 19 (Reuters) - The Japanese yen rose onTuesday, benefiting from a U.S. dollar hit by concern over theU.S. economy and expectations that the Federal Reserve willprove...Read More
* Palladium hits a record high of $1,606/oz* Gold edges up for a third consecutive session * SPDR gold holdings post biggest daily gain since Jan. 18 (Updates prices)By Arijit BoseMarch 19 (Reuters) - Palladium hit its highest ever onTuesday, crossing the $1,600 an ounce mark for the first time asnews that Russia is planning to ban exports of precious metalsscrap fuelled concerns over an already s...Read More
Chilean miner Antofagasta Plc. (LON: ANTO) expects the anticipated global copper deficit to hit between 100,000 and 300,000 tonnes this year as consumption growth remains positive, but production increases are minimal.Releasing the company's annual results, chief executive Iv??n Arriagada also revealed that the first phase of a planned expansion at its flagship Los Pelambres copper mine had been a...Read More
Chilean miner Antofagasta Plc. (LON: ANTO) expects the anticipated global copper deficit to hit between 100,000 and 300,000 tonnes this year as consumption growth remains positive, but production increases are minimal.Releasing the company's annual results, chief executive Iv??n Arriagada also revealed that the first phase of a planned expansion at its flagship Los Pelambres copper mine had been a...Read More
Chilean miner Antofagasta Plc. (LON: ANTO) expects the anticipated global copper deficit to hit between 100,000 and 300,000 tonnes this year as consumption growth remains positive, but production increases are minimal.Releasing the company's annual results, chief executive Iv??n Arriagada also revealed that the first phase of a planned expansion at its flagship Los Pelambres copper mine had been a...Read More
A report published by Deloitte Access Economics reveals that Australian mining companies paid A$30.6 billion in company tax and royalties in 2017-18 - the equivalent of all Federal Government spending on Australian schools, universities and vocational training.According to the report, the dollar amount paid in company taxes over the past couple of years surpasses that of 2011-12, which was the pea...Read More