TIMIKA, Indonesia, May 1 (Reuters) - Thousands of workers from the Indonesian unit of Freeport McMoRan Inc FCX.N staged a rally near its Papua mine on Monday, a union leader said, protesting against lay offs by the miner due to a contract dispute with the government.The union representing a third of the 32,000 workforce sent a notice to Freeport on Monday threatening to strike from May 1 to the en...Read More
Investing.com - Gold prices declined in European trading on Monday, falling toward a three-week low after U.S. congressional leaders reached an agreement to fund the government through the fall.Comex gold futures lost $4.50, or around 0.4%, to $1,263.80 a troy ounce by 2:55AM ET (06:55GMT). Meanwhile, spot gold was at $1,262.50.Also on the Comex, silver futures inched down 9.8 cents, or about 0.6%...Read More
Investing.com - Gold prices rose on Friday as robust euro zone inflation data sent the euro higher against the U.S. dollar, but the precious metal still ended the week lower.Gold for June delivery settled at $1,269.65 on the Comex division of the New York Mercantile Exchange.The annual rate of inflation in the euro area rose by 1.9% in April, Eurostat said, the highest level in over three years.Th...Read More
Rick sees a very interesting market, which flirted with an upside breakout, that failed. He feels the GDXJ took quite a hit, damaging momentum traders expectations, in the near term that damage will likely increase. The opportunity this summer is in capital that is increasingly supplied by the ETF's, towards the GDXJ components. The non GDXJ components are left lagging and that could be an arbitra...Read More
Anglo American (LON:ALL) is ready to resume production at its El Soldado copper mine in Chile after authorities approved a new permit plan for the operation, which has been halted since February.Chilean regulators had rejected an initial redesign of the mine on concerns of potential for collapse where the project crossed former underground operations, but found the new one to be satisfactory, th...Read More
Russia's Norilsk Nickel is suing the government of Botswana in an attempt to recover about $271 million it lost when a state-backed mining company walked away from a deal to buy its stake in a South African mine last year.Move comes as Botswana's state-run BCL Group pulled out a deal to acquire 50% of Norilsk's Nkomati nickel mine, in South Africa.In 2014, Botswana's state-run BCL Group agreed to...Read More
BHP Billiton (ASX:BHP) (LON:BLT) is holding talks with "several" potential buyers for its Cerro Colorado mine, one of its smaller Chilean copper operations, which the mining giant put on the chopping block in February, the head of the union said.According to leader Marcelo Franco, the company has officially informed workers of its plans to offload the mine, located in the country's copper-rich n...Read More
Investing.com - Gold prices held steady on Friday, as global geopolitical tensions reignited some safe-haven demand, although investors were still eyeing the release of U.S. economic reports later in the day.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were little changed at $1,266.36.The June contract ended Thursday's session 0.13% higher at $1,265.90...Read More
(Adds company news, futures)April 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 1 point at 7,238 on Friday, according to financial bookmakers, with futures FFIc1 up 0.10 percent ahead of the cash market open.* HASTINGS: British insurer Hastings Group Plc HSTG.L reported on Friday a 26 percent rise in first-quarter gross written premiums, boosted by a growth in the number of poli...Read More
April 28 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 1 point at 7,238 on Friday, according to financial bookmakers.* BARCLAYS: British bank Barclays Plc BARC.L faces shareholder revolt over whistleblower inquiry after a corporate governance firm advised shareholders not to back his re-election to the board, The Times reported on Friday. BP: BP Plc BP.L was restoring productio...Read More
Apr 28 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd (India Ratings), formerly known as Fitch Ratings India for local debt instruments as of April 27, 2017. COMPANYINSTRUMENTRATINGAMOUNTMOVEMENT(RS.MLN) ------------------------------------- SHORT TERM RATINGS: ------------------- Jubilant Enpro Pvt LtdNon-FB WC facilityIND A340Affirmed Kaveri Engineering Proje...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
The Philippines has toughened up its already hard-core stance on mining by banning open-pit mining in the country to allegedly reduce the environmental damage caused by the industry.Natural Resources Secretary Regina Lopez, a well-known environmentalist, said her decision aimed to preserve the "economic potential" of the country, as she believes open pits are "a financial liability for government...Read More
Investing.com - Gold prices were little changed in European trading on Thursday, holding near the prior session's two-week low as investors digested U.S. President Donald Trump's outline for tax reform.Comex gold futures tacked on $1.30, or around 0.1%, to $1,265.40 a troy ounce by 3:05AM ET (07:05GMT), pulling back after rising to an overnight high of $1,271.10. Meanwhile, spot gold was at $1,264...Read More
Industrial metals prices are projected to jump 16% this year due to strong demand, especially from China, and supply constraints, including mine disruptions in Chile, Indonesia and Peru, the World Bank says in its commodities markets outlook published on Wednesday.Researchers at the institution believe zinc has the brightest prospects this year and will follow up 2016's 60% price gain with a 32% j...Read More
Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management's call earlier this month for an overhaul of the firm.The company, which last year logged its largest-ever write-down precisely on its US shale assets...Read More
By Yuka Obayashi, Jane Chung and Fergus JensenTOKYO/SEOUL/JAKARTA, April 26 (Reuters) - Freeport McMoRan Inc FCX.N is preparing three copper concentrate export shipments from its giant Grasberg mine in Indonesia after a 15-week outage, sources with direct knowledge of the matter said.Freeport is ramping up output and copper shipments from Grasberg, the world's second-biggest copper mine, after obt...Read More
Investing.com - Gold prices were lower in European trading on Wednesday, edging down for the third straight session as investor sentiment remained skewed toward riskier assets amid optimism surrounding an expected tax reform announcement from U.S. President Donald Trump's administration later in the day.Comex gold futures shed $2.60, or around 0.2%, to $1,264.65 a troy ounce by 3:00AM ET (07:00GMT...Read More
(Adds company news, futures)April 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 2 points on Wednesday, according to financial bookmakers, with futures FFIc1 down 0.05 percent ahead of the cash market open.* LONDON STOCK EXCHANGE GROUP: London Stock Exchange Group LSE.L reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly, and said it is...Read More
April 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 2 points on Wednesday, according to financial bookmakers.* BHP: BHP Billiton BHP.AX , BLT.L on Wednesday trimmed its full-year production guidance for iron ore, coking coal and copper due to bad weather at mines in Australia and industrial action in Chile over the last quarter. ROYAL BANK: British Bank Royal Bank of Scotland...Read More