|Day's Range||2.664 - 2.704|
(Reuters) - Canada's main stock index rose on Tuesday as a rally in oil prices pushed energy shares higher. * At 9:31 a.m. ET (13:31 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 42.88 points, or 0.26 percent, at 16,373.91. If current gains hold, the index will post fourth consecutive session of gains. * Canada's biggest province Ontario signed agreements with 26 cannabis producers including Canopy Growth Corp , Aurora Cannabis Inc and Aphria Inc to supply products when it begins online sales of recreational marijuana in October. ...
Gold prices have been falling since the beginning of the year for several reasons, but it might have achieved a tentative bottom. So, bargain-hunting investors should watch these 3 stocks.
Peace has broken out in the Chilean copper industry with two major potential labour flashpoints resolved in as many days. The "Trump Rally" was so called because of the reaction of copper and other industrial metals to the promise of a major infrastructure programme in the United States.
Three companies have placed bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, the Economy Ministry said. In July, Serbia's government said it was seeking a partner to invest at least $350 million in debt-laden RTB Bor but did not say how big a stake it would offer in return. Only companies that have been involved in copper production for at least a decade and had annual revenue of at least $500 million in the past year were allowed to bid.
Global miner BHP Billiton (BHP.AX) (BLT.L) said it was assessing the impact of an ongoing outage at its Olympic dam copper smelter in South Australia, as it released its annual results on Tuesday. The outage followed the failure of several boiler tubes at the acid plant, it said without offering an expected timeline for operations to resume. "Remediation and mitigation activities are underway, and underground mining operations continue as normal," it said in its full-year earnings release.
After a blockbuster start to the year, gold has fallen out of investors’ favor, thanks to rising interest rates and a strong dollar. The yellow metal logged in the sixth consecutive weekly decline and the worst weekly drop since December, shedding 2.2% last week. This followed the metal’s fourth consecutive monthly decline in July that represents the longest stretch of losses since 2013.Source: Bullion Vault via Flickr (Modified)
(Reuters) - Canadian mining company First Quantum Minerals Ltd said on Monday a worker died and another was injured at its Cobre Panama project. The company said the worker died after he fell during the construction of an electrical transmission line at the facility area. The second worker was also injured in the same incident, said First Quantum, which has started an internal investigation. Cobre Panama is a large open-pit copper development project in Panama. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sriraj Kalluvila)
Canadian mining company First Quantum Minerals Ltd said on Monday a worker died and another was injured at its Cobre Panama project. The company said the worker died after he fell during the construction of an electrical transmission line at the facility area. The second worker was also injured in the same incident, said First Quantum, which has started an internal investigation.
What Could Drive Newmont Mining Stock in the Rest of 2018? Newmont Mining is poised to overtake Barrick Gold as the world’s largest gold producer in 2018. For more on this, please read Barrick Gold versus Newmont Mining: Comparing Miners in 2018 and Beyond.
Canada's main stock index rose on Monday as rising metal prices led to gains in material stocks, with hopes of resolution in the U.S.-China trade dispute boosting the sentiment. * At 9:34 a.m. ET , the ...
Stock futures pointed to a higher opening for Canada's main stock index on Monday in anticipation of planned trade talks between the United States and China may help resolve their trade dispute. September ...
Posted by OFX Australian Dollar After spending the week below the 73c handle and touching an eighteen-month low of 0.7214 against the U.S Dollar, the local unit staged a recovery during the North American session and managed to close the week at 0.7314. The move was mostly linked to a broad-based USD sell-off and a … Continue reading "AUD claws back losses into close as US-China trade tensions subside"
Chile's Antofagasta, one of the world's leading copper producers, expects copper prices to continue to be volatile due to global trade tensions, the head of the company was quoted in a local newspaper as saying on Sunday. Ivan Arriagada, chief executive of Antofagasta, said he expected copper prices to be affected by global uncertainty, according to an interview published in Chilean newspaper La Tercera. "In the short term, we are facing high volatility and we believe that volatility will persist," the CEO said.
Investing.com - Gold prices Friday were set to post their biggest weekly slump since April last year as fears over a slowdown in China and a stronger dollar wreaked havoc in metals earlier this week.
As we noted in the previous part, metals and mining stocks like Alcoa (AA) and Freeport-McMoRan (FCX) fell sharply on August 15. US steel stocks like U.S. Steel Corporation (X) and AK Steel (AKS) also saw selling pressure. In this part, we’ll see what has been weighing on metal and mining stocks.
Aug 16 (Reuters) - Chengtun Mining Group Co Ltd: * SAYS IT SIGNS FRAMEWORK AGREEMENT WITH JINCHUAN GROUP INTERNATIONAL RESOURCES' UNIT ON COBALT COPPER OXIDE ORE SUPPLY IN CONGO Source text in Chinese: ...
Metals and mining stocks are deeply in the red today. Freeport-McMoRan (FCX) and Alcoa (AA) have fallen 6.6% and 4.4%, respectively, as of 10:10 AM EST. In the steel space, U.S. Steel Corporation (X) and AK Steel (AKS) have fallen 4.1% and 3.3%, respectively.
Investing.com - Metal prices remained under pressure Tuesday as gold hovered just above $1,200, while copper fell sharply after the dollar printed fresh intraday highs for the year.
Chilean copper producer Antofagasta (ANTO.L) said first-half core earnings fell 16.2 percent from a year earlier, citing weaker ore quality, and said trade tensions clouded the broader market outlook in the short term. Antofagasta maintained full-year guidance for its own output of 705,000-to-740,000 tonnes, saying it will mine higher grade ore for the rest of this year and into next year. The company cited "considerable market uncertainty with the outcome of current international trade negotiations unclear," although it said the longer term prospects for copper were favourable.
The announcement early on Tuesday comes amid fears of a repeat of last year's strike at Escondida, which jolted markets and dampened economic growth in Chile as it dragged on for 44 days. The extension follows five days of closely-watched talks over pay at the mine that have been mediated by the government of Chilean President Sebastian Pinera. Anglo-Australian mining giant BHP (BLT.L) (BHP.AX) also said in a statement that it had agreed to extend talks with the union through Tuesday.
The union at the world's largest copper mine, Escondida in Chile, has called off a strike planned to start on Tuesday after agreeing to extend talks with operator BHP for another day. The announcement early on Tuesday comes amid fears of a repeat of last year's strike at Escondida, which jolted markets and dampened economic growth in Chile as it dragged on for 44 days. The extension follows five days of closely-watched talks over pay at the mine that have been mediated by the government of Chilean President Sebastian Pinera.
Chile's copper industry on Monday braced for the announcement of a potential strike at the world's biggest copper mine, Escondida, as government-led mediation is expected to close by day's end. Escondida's union and the mine's owner, Anglo-Australian firm BHP , have until Monday evening to agree to a contract deal in tense negotiations that have been closely watched by other miners and international markets. The negotiations have been held under tight wraps, but a union source told Reuters that "all will be known today" about negotiations at Escondida, which last year produced 925,400 tonnes of copper, almost 17 percent of the country's total.
The main union at Chile's Caserones copper mine said on Sunday that 98.5 percent of its workers had voted to reject a final offer from mine operator Lumina Copper during mediation. It said it would first meet Lumina, which is controlled by a partnership of JX Holding and Mitsui Mining, for a final period of compulsory mediation starting on Monday at 1030am. Lumina's human resources vice-president Claudio Raffo said the company had offered the most competitive package it could to workers, given that it had failed to meet its production targets, and had to ensure the company and its workers had a "sustainable future".