London Mining News

LME to slash some fees to win back volumes as rivals circle

The London Metal Exchange sought on Thursday to win back trading volumes by proposing a cut in fees for trades crucial to its physical user base as rivals gear up to offer alternatives.

Gold futures come back to the London Metal Exchange

The LME’s previous attempt at trading gold lasted only three years .

Odds on, odds off: London gold market seemingly confused on best route forward

“The market is currently built on hearsay, and rumors,” said one source close to the situation.

Mick Davis tells investors to stay away from coal, Africa

When asked about how much lower commodities prices will dive this year, Davis said he thought they were close to hitting rock bottom.

Mick Davis first deal to land in Canada: report

Davis is said to be finalizing talks with a Toronto-listed miner, in a deal that could kick-off a long awaited buying spree.

Gold market waves near century-old price fix good-bye

Thursday will be the last time traders at four banks agree by phone twice-daily prices for bullion.

Mick Davies’ X2 Resources raises $5.6 billion, ready to buy up assets

The former Xstrata boss’ new firm may soon pull the trigger on some big deals at a time of low commodity prices and willing sellers.

Shanghai gold deals get a boost as WGC sets bullion free trade zone

The World Gold Council (WGC) and the Shanghai Gold Exchange (SGE) have signed memorandum of understanding on a comprehensive strategic gold cooperation agreement.

ICE wins race to run the London gold fix

Bids and offers will be published in real time and the price updated every 30 seconds.

This firm has more than half the copper in LME warehouses

That is worth around $534-$854 million, based on prices of $6,675 per tonne.

One of these five companies will run the gold fix

Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange jointly with Thomson Reuters, U.S. derivatives bourse Intercontinental Exchange, the London Metal Exchange and broker ICAP's online platform EBS will present their proposals this Friday.

Platinum, palladium price-setting technology ‘optimum’ for gold: LME

The LME says its electronic solution for the platinum and palladium price — LMEbullion — could benefit gold bugs.

Chinese banks go after silver and gold fix

Since it first debuted in August, only five participants have signed up to the price setting process.

Cutifani says tough decisions needed to restore credibility

Anglo's chief warned the company plans to take severe measures over the next two years.

Royal Mint launches online dealing account … in gold

The Royal Mint is encouraging the public to become gold investors with the launch of an online bullion trading service.

Anglo American chief not going for any major corporate split

A big corporate break-up à la BHP Billiton is definitively not in his books, he told FT.com.

London gold fix begins seeking 3rd party to run benchmark

Winner will be announced in October, and implementation will be complete by the year-end.

New York court to rule on most London gold fix lawsuits

The 18 cases will be sent to U.S. District Judge Valerie Caproni in Manhattan, who has already been overseeing a putative class-action against the five banks that make up the fix.

Participants in new silver fix ‘unclear’ three days before it goes live

No bank has publicly stepped forward to say they will be involved in the new silver benchmark.

Gold Arab supercars hit the streets of London

A Saudi-owned gold-plated Range Rover, with a "666" number plate, is London's newest supercar in town

New gold fix to debut by year-end

The plan is to announce a third-party administrator by the end of September.

Scotiabank, Deutsche, HSBC accused of rigging silver price

The three banks have been accused of fixing the price of trillions of dollars worth of silver.

Gold fix operator picks committee to oversee spot price

The company’s new board is made up of compliance officers at the four banks that currently operate the gold prices setting process.

After winning the silver fix, CME goes for the gold

The exchange would bid to be involved in a new process, which may turn the current twice-daily gold price-setting conference call into an electronic auction.

London gold fixing firm seeks 3rd party to run benchmark

The firm that operates the global price benchmark confirmed it has begun a request for proposals (RFP) process to find a new administrator for the fix.