Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it's investing in platinum...Read More
Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it's investing in platinum...Read More
Published 20 Hours AgoUpdated5 Hours AgoReuters Leonhard Foeger | ReutersGold pared some gains on Wednesday but held firm as the dollar slid after the U.S. midterm elections delivered a split Congress and as investors looked ahead to a Federal Reserve meeting for signals on future interest rate hikes.Spot gold was up 0.01 percent at $1,226.53 per ounce having earlier hit $1,235.83, while U.S. gol...Read More
Botswana Diamonds (LON:BOD) has signed a contract with Palaeo Minerals covering full-scale mining activity at the Thorny River project in South Africa, which the company believes will become its first operating mine.The agreement, which sees Botswana Diamonds handing over control to the contractor, will allow the company to self-fund the project from bulk sampling through to mine development, it s...Read More
Botswana Diamonds (LON:BOD) has signed a contract with Palaeo Minerals covering full-scale mining activity at the Thorny River project in South Africa, which the company believes will become its first operating mine.The agreement, which sees Botswana Diamonds handing over control to the contractor, will allow the company to self-fund the project from bulk sampling through to mine development, it s...Read More
LONDON, Nov 7 (Reuters) - Turkey's 2020-2030 dollar bondshit their highest level since August on Wednesday, as a drop inthe U.S. currency following midterm elections helpedextend the recent rebound in Turkey's markets.Ankara's 2030 bond got the biggest boost,rising nearly 1 cent in price in what looked set to be a fourthstraight day of gains.(Reporting by Marc Jones; Editing by Jo Mason) Messaging...Read More
(Adds details, quotes, context)MOSCOW, Nov 7 (Reuters) - Polyus, Russia's largestgold producer, on Wednesday reported third-quarter net profitdown 61 percent from a year ago to $144 million due to foreignexchange losses and other non-cash items.The company controlled by Said Kerimov, son of Russiantycoon Suleiman Kerimov, has not been targeted by the U.S.sanctions against Moscow. Washington includ...Read More
As we have written before in this report, we believe that for the market to regain its footing and march to new highs before year-end in the face of higher bond yields, financial stocks will have to lead. Typically, banks and insurance companies benefit from higher long-term interest rates and a growing economy. If they cannot outperform now with US growth above trend and long rates rising, somet...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average, the Nasdaq and the S&P 500 all rose on Tuesday as voters headed to the polls for the U.S. midterm elections. It was the Nasdaq's first gain in three days, while the other two have closed higher in four of the past five trading sessions. Eli Lilly & Co. (LLY) fell 3.9% des...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 6.Please click...Read More
Base metals futures prices on the London Metal Exchange fell sightly on Tuesday November 6 while uncertainty continued about the outcome of the mid-term elections in the United States and that country's trade relations with China.On Tuesday, three-month nickel was the only price to trade in positive territory, at $11,775 per tonne, up by $25 per tonne from Monday's closing price of $11,750 per ton...Read More
The Comex copper price staged a modest recovery in the US morning on Tuesday November 6 amid a softening dollar and speculative buying. The copper price for December settlement on the Comex division of the New York Mercantile Exchange recovered 0.35 cents to $2.7595 per lb. Industrial metal markets continue to look at the trade dispute between the United States and...Read More
Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
Chinese ferro-silicon prices dropped in the week ended Friday November 2 due to slow buying interest and a weak yuan versus the dollar, while the European market also succumbed to quiet demand, causing suppliers to cut their offer prices to garner buying interest. Chinese market drops in line with demand Weaker yuan exacerbates downward trend European suppliers cut offer prices ...Read More
Chinese export prices for ferro-vanadium and vanadium pentoxide have held steady over the past week due to lackluster activity, with domestic prices remaining more favorable, while the European markets continued to gain strength on increased activity, closing the gap to the Chinese market. Chinese export prices stall amid favorable domestic market EU FeV prices up slightly on increased consumer ac...Read More
Low-grade manganese ore prices got a boost in the week ended Friday November 2 after buyers were caught between the end of November's offers and the start of December's. Low-grade manganese ore prices rise in China amid a lack of offersHigh-grade manganese ore index slidesChinese manganese alloy prices largely steadySilico-manganese quotation drops in EuropeUS alloy price holds in quiet marketLow...Read More
Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More
Some Chinese bismuth producers are likely to cut production on squeezed profit margins, market participants told Fastmarkets, adding that it is hard to forecast the resultant impact on spot prices in the near term. Domestic Chinese bismuth prices have fallen from highs of this year of 71,000-72,000 yuan ($10,303-10,448) per tonne in February and have been mostly under pressure so far in 2018, acco...Read More
The Turkish steel mills have resumed their deep-sea scrap purchases for December deliveries with prices remaining strong in the latest transaction, sources said on Tuesday November 6.A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural sc...Read More
The Tuesday Market Minute Global stocks steady on the final day of trading before U.S. midterm elections, with a stronger U.S. dollar and modestly higher interest rates holding down gains.Asia stocks gain, despite weaker tech stocks following last night's Apple sell-off, with Japan posting a solid 1.1% advance while China shares slipped modestly into the red.Oil prices continue to slide, ex...Read More