JOHANNESBURG, Sept 21 (Reuters) - South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti on Friday, inking the same agreement that other unions reached with the company earlier in the week.The agreement will mean an effective pay hike of over 12 percent for entry-level underground workers in the first year, over double the inflation rate, an indust...Read More
BEIJING, Sept 21 (Reuters) - China's top state copper companies threw their weight behind Shanghai's first copper options on Friday, with early turnover trouncing its New York rival and raising a big challenge to the 141-year-old London bourse in the $270 billion global market.The initial burst of activity demonstrates strong interest among Chinese investors as the country aims to capitalise on i...Read More
MANILA, Sept 21 (Reuters) - The Philippines on Friday temporarily suspended all quarrying operations in seven regions following a landslide near a limestone quarry that killed at least 29 people, with dozens more feared trapped under the rubble.As search, rescue and retrieval operations continued at the landslide site in Naga City on the central island of Cebu, Environment and Natural Resources Se...Read More
So far, Merkel has not explained why the sale was approved over the putative ban, and the Social Democrats have not complained either...Read full newsRead More
China's commitment to electric vehicles presentsRead full newsRead More
US coal producer Peabody Energy (NYSE: BTU), the world's largest privately owned producer of the fossil fuel, said Friday it had agreed to buy Shoal Creek metallurgical coal mine in central Alabama from Drummond Co. for $400 million.Located on the Black Warrior river, the mine serves the Asian and European steel mills with high-vol A coking coal.The transaction involves the purchase of the min...Read More
US coal producer Peabody Energy (NYSE: BTU), the world's largest privately owned producer of the fossil fuel, said Friday it had agreed to buy Shoal Creek metallurgical coal mine in central Alabama from Drummond Co. for $400 million.Located on the Black Warrior river, the mine serves the Asian and European steel mills with high-vol A coking coal.The transaction involves the purchase of the min...Read More
China's No.1 producer of lithium, the coveted metal used in the making of batteries that power electric-vehicles (EVs), has signed a deal with Tesla Inc. to supply 20 percent of its production to the car maker.The three-year contract, valid from January 2018 to December 2020, can be extended by another three years, Ganfeng Lithium (SHE: 002460) said."The agreement will help Ganfeng build a health...Read More
China's No.1 producer of lithium, the coveted metal used in the making of batteries that power electric-vehicles (EVs), has signed a deal with Tesla Inc. to supply 20 percent of its production to the car maker.The three-year contract, valid from January 2018 to December 2020, can be extended by another three years, Ganfeng Lithium (SHE: 002460) said."The agreement will help Ganfeng build a health...Read More
Colombia's Constitutional Court has sided with Australia's South32 (ASX, LON, JSE:S32), saving the company from paying $400 million in compensation for alleged damages to local communities caused by waste emissions from its Cerro Matoso nickel mine and smelter.The final ruling, local paper La Raz??n reported, was based on independent medical examinations ordered by the court, which concluded there...Read More
Colombia's Constitutional Court has sided with Australia's South32 (ASX, LON, JSE:S32), saving the company from paying $400 million in compensation for alleged damages to local communities caused by waste emissions from its Cerro Matoso nickel mine and smelter.The final ruling, local paper La Raz??n reported, was based on independent medical examinations ordered by the court, which concluded there...Read More
"Over the past couple of years I've discussed the 2011-2017 downtrend line as the most important downtrend line in gold.4 the 2nd time price hit it in Aug. at 1160.Odds favor test of that upper line.... Will it be different this time ?"Read full newsRead More
"Ever since the Yen-Gold correlation went off the rails,some are now suggesting Yuan-gold correlation.Regardless,the important thing is it looks like China will try to defend the 7 level.It's another subtle hint of a gold turn attempt.Watch 4 Euro close above 117.70 also"Read full newsRead More
Investors have pulled much capital out of gold in recent months in a major mass exodus. Their sentiment waxed very bearish as gold was pounded lower by extreme record gold-futures short selling. The latest record stock-market highs also suppressed the perceived need for diversifying portfolios with gold. But this heavy investment gold selling is slowing, and should reverse sharply once stock marke...Read More
Gold stocks have, for the most part, underperformed the market this year. At the time of writing, gold prices are trading at near US$1,200 per ounce, and silver trades at a just over US$14 per ounce. While this is far from the drop in prices we saw in the years following the 2011 drop, the recent pullback in prices has set the stage for a possible rally.Could gold prices rise?Gold prices are depe...Read More
Mining stocks are one of the greatest strengths of the TSX index; no doubt about it. Ask any non-Canadian investor what Canadian stocks are famous for, and you can bet that, after financials and utilities, they'll mention metal and mining stocks.With that in mind, and paying close attention to the uncertainty in global markets at present - as well as future stressors gathering on the horizon -let'...Read More
VIsta Gold (VGZ) is advancing Australia's largest undeveloped gold project. The current resource stands at 7.8 million ounces, of which 5.8 million proven/probable reserves. Vista is implementing a high-tech grinding and sorting process that will improve gold recovery and production.Vista released an updated Preliminary Feasibility Study which shows an after-tax NPV of $679 million, assuming a...Read More
Proposed Kinder Morgan Trans Mountain twinned pipeline expansion project. Source: Kinder Morgan.The Canadian government is moving to revive the $7.4 billion Trans Mountain Pipeline expansion just weeks after a Federal Court of Appeal quashed the approval of the project on the basis that Canada's efforts to meaningfully consult with Indigenous people fell short.When the ruling was announced, the co...Read More
Harte Gold's Sugar Zone Mine in northern Ontario. Source: Harte Gold Corp.Harte Gold Corp. [HRT-TSX; HRTFF-OTC; H4O-FSE] said it has received all necessary operating permits from the Government of Ontario to start commercial production at its Sugar Zone Mine, which is located 80 km east of the Hemlo Gold Camp in northern Ontario.Harte Gold is now fully permitted to mine, process ore and pour gold...Read More
Oil prices are up this week as tensions over U.S. sanctions against Iranian crude importers heat up.On Monday, Bloomberg reported that OPEC officials from Saudi Arabia said they are comfortable with Brent oil over $80 per barrel, as markets adjust Iranian export cuts amid U.S. sanctions.Forward month Brent futures jumped a few points as a result:As he is wont to do, President Trump responded to th...Read More