Diversified miner Vedanta is investing up to $800 million in a zinc smelter in South Africa, the head of its zinc unit Deshnee Naidoo said at an investment summit in Johannesburg on Friday.Andile Sangqu, executive head of Anglo American South Africa, added at the same summit that his firm would invest 71.5 billion rand ($4.88 billion) in South Africa over the next five years.($1 = 14.6400 rand)(By...Read More
The VIX is up 30% so far this weekStocks are selling off once more, with the Dow Jones Industrial Average (DJI) down more than 350 points at midday, almost erasing the gains from yesterday. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are spiraling, as well, with the former hovering near correction territory. Plus, all three indexes are headed for a weekly loss -- the Nasdaq its fourth in a...Read More
NEW YORK (Reuters) - Federal Reserve officials have tried this week to ease concerns on Wall Street that bank reserves are growing scarce and that the Fed’s key rate will edge up above a policy range, possibly forcing it to permanently hold more assets than planned.Thursday marked the third straight day in which the federal funds policy rate traded at its effective ceiling of 2.20 percent. B...Read More
BRUSSELS/PARIS/BERLIN (Reuters) - Pressure is growing for the European Union to consider an arms embargo on Saudi Arabia after Germany, Austria and the European Parliament called for an end to weapons sales over the killing of Saudi journalist Jamal Khashoggi.In the space of a few hours that highlighted tensions over the matter, Germany’s Angela Merkel on Friday reaffirmed that her country w...Read More
Randgold Resources' Tongon mine in Ivory Coast will produce 23.3 percent less gold in 2018 than originally forecast as a result of 53 days of strike action that took place earlier this year, Chief Executive Mark Bristow said."The strike made us lose 70,000 ounces of gold (on the 300,000 ounces 2018 forecast)," Bristow said. "The production forecast has been revised to 230,000 ounces of gold for th...Read More
Randgold Resources' Tongon mine in Ivory Coast will produce 23.3 percent less gold in 2018 than originally forecast as a result of 53 days of strike action that took place earlier this year, Chief Executive Mark Bristow said."The strike made us lose 70,000 ounces of gold (on the 300,000 ounces 2018 forecast)," Bristow said. "The production forecast has been revised to 230,000 ounces of gold for th...Read More
MANAMA (Reuters) - Defence Secretary Jim Mattis will stress the U.S. commitment to Middle East security at the weekend, officials said, amid Western concern that any loosening of U.S. ties to Riyadh after Jamal Khashoggi’s murder could allow Russia to fill the vacuum.Mattis will give a speech at the annual Manama Dialogue security conference in Bahrain on Saturday on the United States’...Read More
Pacton Gold (TSXV:PAC; US:PACXF) (theRead full newsRead More
"Hummingbird will miss 2018 guidance after heavy rains in Q3 and pit stability issues more recently at Yanfolila ($) | https://t.co/mfbLWiFlXl #gold #AIM $HUM"Read full newsRead More
"World equities have erased $15 trillion, or 17 percent, of their value since January, with China alone losing $3 trillion"Read full newsRead More
Azimut Exploration of Longueuil, Que., and its strategic partner SOQUEM have made what they are calling a "major" discovery of gold-copper-silver mineralization at Azimut's Munischiwan property in the James Bay region.The zone is 600 metres long and 100 to 150 metres wide. Grab samples from the outcrop have returned gold values between 11.0 and 1.53 g/t, 1.67 to 0.05% copper, and 435.0 to 5.8...Read More
Azimut Exploration of Longueuil, Que., and its strategic partner SOQUEM have made what they are calling a "major" discovery of gold-copper-silver mineralization at Azimut's Munischiwan property in the James Bay region.The zone is 600 metres long and 100 to 150 metres wide. Grab samples from the outcrop have returned gold values between 11.0 and 1.53 g/t, 1.67 to 0.05% copper, and 435.0 to 5.8...Read More
Azimut Exploration of Longueuil, Que., and its strategic partner SOQUEM have made what they are calling a "major" discovery of gold-copper-silver mineralization at Azimut's Munischiwan property in the James Bay region.The zone is 600 metres long and 100 to 150 metres wide. Grab samples from the outcrop have returned gold values between 11.0 and 1.53 g/t, 1.67 to 0.05% copper, and 435.0 to 5.8...Read More
Azimut Exploration of Longueuil, Que., and its strategic partner SOQUEM have made what they are calling a "major" discovery of gold-copper-silver mineralization at Azimut's Munischiwan property in the James Bay region.The zone is 600 metres long and 100 to 150 metres wide. Grab samples from the outcrop have returned gold values between 11.0 and 1.53 g/t, 1.67 to 0.05% copper, and 435.0 to 5.8...Read More
CHICAGO (Reuters) - The U.S. pork trade to China is “not viable” after Beijing imposed tariffs on imports of American pork amid the trade war between the world’s two largest economies, said Ken Sullivan, chief executive Smithfield Foods.“Certainly in the short term here as this trade war has heated up, it’s made the trade with China very difficult - to even stopping a...Read More
HONG KONG (Reuters) - China is easing restrictions on share buy-backs by public companies under revisions to company law approved by the country's top legislature, the National People's Congress, on Friday, state news agency Xinhua reported.Listed companies will be allowed to buy back their publicly traded shares for purposes such as issuing convertible bonds, or to defend corporate values and pro...Read More
(Kitco News)- Wall Street and MainStreet look for gold to maintain its upward momentum next week, with the metalcurrently headed for its fourth straight weekly gain, based on the Kitco Newsgold survey.Eighteenmarket professionals took part in the Wall Street survey. Twelve respondents,or 67%, predicted higher prices by next Friday. Just one respondent, or 6%,called for lower, while five participan...Read More
(Kitco News) - Wall Street and Main Street look for gold to maintain its upward momentum next week, with the metal currently headed for its fourth straight weekly gain, based on the Kitco News gold survey.Eighteen market professionals took part in the Wall Street survey. Twelve respondents, or 67%, predicted higher prices by next Friday. Just one respondent, or 6%, called for lower, while five par...Read More
Barrick Gold Corp.'s decision to double down on Africa is a bet on Randgold Resources Ltd. boss Mark Bristow keeping his Midas touch on a continent where many miners have floundered. That wager is facing its first test.Among the assets Barrick will acquire in the $5.4 billion deal for Randgold is Kibali, a mine Bristow built from scratch in the Democratic Republic of Congo. While that operation ha...Read More
Barrick Gold Corp.'s decision to double down on Africa is a bet on Randgold Resources Ltd. boss Mark Bristow keeping his Midas touch on a continent where many miners have floundered. That wager is facing its first test.Among the assets Barrick will acquire in the $5.4 billion deal for Randgold is Kibali, a mine Bristow built from scratch in the Democratic Republic of Congo. While that operation ha...Read More