Investors take chunks out of Newmont after big loss, reserves cut
Shares in world number two gold miner drop in heavy volume after missing on earnings and revenue and slashing gold and copper reserves.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
Gartman ‘quietly’ turns bullish on gold price
Noted investor and closely followed newsletter writer Dennis Gartman lays out three reasons for his optimism.
Weak Chinese factory data dents copper price
A gauge of manufacturing activity in top copper consumer China is down six months in a row and at the lowest level since July.
Two ‘outright’ bears have second thoughts on 2014 gold price
Gold is no longer "the favourite asset to short or ignore completely".
Gold price bounces around on jobs, inflation data
A drop in jobless claims showing the downtrend in US unemployment remains intact pushed gold as low as $1,307 before inflation figures and weak manufacturing data prompted a recovery.
Shareholders shrug Yamana losses and revenue, production miss
Despite quarterly loss of $584m, the $8.5 billion share is up 23.5% year to date and enjoys a higher valuation than gold miners producing millions of ounces more per year.
Report: India may slash gold import tax to 6% before end of Feb
Government official tells the Wall Street Journal gold import duty would be cut to between 6% and 8% from the current 10% before the end of February.
Gold price deepens losses after Fed minutes, Lockhart comments
"Only dramatic developments would cause the Fed to alter the pace of its steady reduction in asset purchases."
China’s record copper, iron ore imports are not being put to work
With credit tight inside the country, China's record-setting copper and iron ore imports and stockpiles are being used for financing deals.
Report: Chinese bank poised to join London gold fix
ICBC, China's largest bank, is set to buy Deutsche Bank's seat to join the price-setting process for the benchmark used in the globe's physical gold trade.
Mining’s next boom is off the map: Arctic ice, abyssal plains and asteroids
Depletion, lower ore grades and higher prices pushing miners to new frontiers. The Arctic is already drawing capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.