Recent Articles

Gold above 3-1/2 month low after positive U.S. jobs data

Posted on July 2, 2015

The metal cut some losses on Thursday, rebounding slightly from a 3-1/2 month low after data showed the U.S. labour market to be weaker than expected in June.

Gold steadies as Greece fears offset by weaker euro

Posted on June 29, 2015

It gave up early gains as the prospect of a Greek debt default, which hit European shares, was offset by a strengthening dollar and wariness among investors over the metal's longer-term outlook.

Burkina Faso parliament adopts new mining code

Posted on June 26, 2015

Burkina Faso's transitional parliament passed a new mining code on Friday that abolishes a previous 10 percent tax break on mining company profits and obliges firms to pay into a local development fund.

Gold slips to 2-week low as buyers await news on Greece

Posted on June 24, 2015

Gold edged lower on Wednesday as the dollar pared earlier losses versus the euro, while traders took to the sidelines to await news on Greece's negotiations with its international lenders to avoid default.

Vale expects to raise $1.5 bln from asset sale in Brazil

Posted on June 24, 2015

The world's largest producer of iron ore could raise about $1.5 billion through the sale of a stake in one of its Brazil-based assets.

Asian coal prices close to floor, unlikely to fall further than $10 -industry

Posted on June 10, 2015

Coal prices in Asia are already at levels that have forced some producers to curb supply and are unlikely to fall more than another $10, industry officials said.

Austria plan to repatriate gold not linked to Brexit talk: Nowotny

Posted on May 28, 2015

Decision said to reflect trend among central banks.

Mali's mining earnings drop on lower gold production, prices

Posted on May 21, 2015

Mali's earnings from its gold-dominated mining sector slipped by around six percent to just under 206 billion CFA francs ($350.60 million) last year due to a drop in output and lower prices for the precious metal.

Barrick changes plan to halt Zambia mine over royalties row

Posted on April 23, 2015

Barrick Gold Corp. has backtracked on its decision to suspend operations at its Lumwana open pit copper mine in Zambia after the cabinet reduced mining royalties.

Tax breakthrough at Rio Tinto's Mongolia copper mine — source

Posted on March 31, 2015

Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5 billion Oyu Tolgoi copper mine, according to an official familiar with the government's position.

Mining shares push European stocks to new multi-year highs

Posted on February 26, 2015

European shares rose on Thursday as a rally in metals prices pushed basic resources stocks higher.

Australia's Newcrest says open to sale of Telfer gold mine

Posted on February 15, 2015

Newcrest Mining, one of the world's biggest gold producers, said on Friday it was open to selling its Telfer gold and copper mine in Australia, once the company's flagship operation.

Ending an era, CME Group to shutter most futures pits

Posted on February 5, 2015

The world's largest futures market operator will shutter almost all of its open-outcry futures pits by July 2, ringing the closing bell on a once-raucous tradition that has been in decline since the rise of computerized trading.

Amplats Q4 production drops by 17 pct after strike

Posted on January 28, 2015

Anglo American Platinum's production fell by 17% in the fourth quarter compared with a year ago due to a strike at its South African operation.

Antofagasta expects slightly weaker-than-expected copper output

Posted on January 28, 2015

Chilean mining firm Antofagasta expects a smaller-than-expected increase in production this year after posting annual output for 2014 in line with its guidance.

Acacia Mining seeking gold assets across west Africa

Posted on January 18, 2015

Acacia Mining Plc is looking to buy gold mines and exploration projects in Senegal, Mali and Ghana to expand in west Africa, Chief Executive Brad Gordon said.

Big global copper surplus? Mine cutbacks force rethink

Posted on January 14, 2015

Cuts in copper mine output are raising doubts about the extent of a widely expected global surplus that has driven down prices, and the reduced production could support a market rebound.

Gold down on higher shares, poised to end 2014 flat

Posted on December 31, 2014

Gold edged down on higher shares on Wednesday, but was poised to end 2014 steady around $1,200 an ounce as the impact of a stronger dollar was offset by demand from investors worried about tensions in Russia and political uncertainty in Greece.

Turning point for coal? Japanese trading firms snap up coal assets

Posted on December 21, 2014

A flurry of acquisitions of high-quality coal assets by Japanese firms in recent weeks signals that some trading houses at least are betting a depressed coal market where prices have halved in three years may be bottoming out.

Top gold ETF sees second straight weekly inflow

Posted on December 14, 2014

Gold edged lower on Friday as some buyers cashed in recent gains, but the metal remained on track for its biggest weekly rise in two months as the dollar retreated and sliding oil prices hurt risk appetite, weighing on stocks.

South Africa's Bell Equipment to restructure and shed jobs

Posted on December 3, 2014

South African earthmover manufacturer Bell Equipment announced plans on Wednesday to restructure and shed jobs, as mining industry customers delay spending in the face of falling commodity prices.

Colombia mine regulator sees faster project licensing within a year

Posted on November 27, 2014

Colombia's mining regulator will be able to bring wait times for exploration and production permits back within legal limits in about a year after it has smoothed out the legal tangles that have bogged down its decisions, its chief said on Thursday.

Suppliers face loss-making deals as miners tighten screws

Posted on November 26, 2014

The global mining sector has cut $20-25 billion in costs.

Glencore, Mick Davis among suitors of Anglo American mines in Chile

Posted on November 14, 2014

Glencore and X2, a company set up by former Xstrata boss Mick Davis, are among the suitors of the Chilean copper assets put up for sale by global miner Anglo American.

BHP Billiton says scraps sale of Nickel West division

Posted on November 12, 2014

The world's largest mining company has scrapped the sale of Nickel West and will continue operating the unit after failing to find a buyer at the right price.

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