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Gold, silver rally as new year rekindles risk appetite
Click here to read the whole story or read an excerpt below. By Rujun Shen Gold rallied more than 1 percent and silver jumped over 2 percent on Tuesday as investors returned in the new year with a renewed appetite for riskier assets such as commodities, although global economic worries still weighed on sentiment. Better-than-expected manufacturing data from China fuelled interest among investors who... [Read more]
Gold falls to 3-month low; Italy bond sale eyed
Click here to read the whole story or read an excerpt below. By Rujun Shen Gold fell to a three-month low on Thursday as prices were weighed down by a firm dollar, while investors remained cautious ahead of an important Italian bond auction later in the day. The dollar index .DXY traded steady after surging in the previous session, as investors grew increasingly nervous over the Italian bond auction... [Read more]
PRECIOUS-Gold climbs as the euro rebounds 1 pct
Click here to read the whole story or read an excerpt below. By Jan Harvey Gold prices rose to their highest in nearly a week on Tuesday as the euro rallied 1 percent versus the dollar, with rising stock markets pointing to a sharper appetite for assets seen as higher risk at the U.S. currency’s expense. Spot gold was up 1.3 percent at $1,612.80 an ounce at 1500 GMT. Prices are within $10 of... [Read more]
Gold steadies, eyes second week of falls
Click here to read the whole story or read an excerpt below. By Clare Kane Gold steadied on Thursday to around $1,700 an ounce after its decline to one-month lows this week triggered some bargain hunting, with a slightly weaker dollar adding support to the precious metal. Gold’s rise echoed gains in commodity markets, but concerns about the euro zone debt crisis continued to weigh on sentiment.... [Read more]
Gold rebounds more than 1 percent ahead of Obama speech
Click here to read the whole story or read an excerpt below. By Rujun Shen Gold prices bounced back more than 1 percent on Thursday, boosted by bargain-hunters after the previous session’s fall of 3 percent, ahead of a speech by U.S. President Barack Obama that could allay recession fears. Obama will lay out a jobs package worth more than $300 billion later on Thursday, after data showed the... [Read more]
PRECIOUS-Gold hits record as misery mounts over debt
Click here to read the whole story or read an excerpt below. By Amanda Cooper Gold rallied to its ninth record high this year on Tuesday, as growing fears about the spread of the European debt crisis and the increasingly gloomy outlook for the U.S. economy fed a broad investor push into perceived safe-haven assets. U.S. lawmakers averted an unprecedented default on the country’s debt on Monday... [Read more]
UPDATE 1-Aquarius Platinum Q4 production up marginally
Click here to read the whole story or read an excerpt below. By Juhi Arora Aquarius Platinum’s fourth-quarter output rose marginally as lower-than–expected volumes at its South African operations was offset by record production at its Mimosa mine in Zimbabwe. Aquarius said April-June production was 114,260 platinum group metal (PGM) ounces. [Read more] Read More →
Kenya titanium cargoes to start 2013-Base Resources
Click here to read the whole story or read an excerpt below. By David Clarke Australia’s Base Resources Ltd said on Monday it expected the first shipment of products from its Kenyan titanium mining project by mid-2013. The project near the east Africa nation’s port city of Mombasa is scheduled to begin in September after lengthy delays due to demonstrations by environmental groups, disputes... [Read more]
China leads June global steel output to new record
Click here to read the whole story or read an excerpt below. By Jane Baird Global steel production rose in June, led by record crude steel output in China, while U.S. steelmakers also increased output despite slow economic growth in the world’s largest economy, data showed on Wednesday. Global crude steel production rose 8 percent to 127.746 million tonnes year-on-year in June 2011, according... [Read more]
UPDATE 2-Boliden shareS rise on relief over troubled mine
Click here to read the whole story or read an excerpt below. By David Cowell Swedish copper and zinc miner and smelter Boliden said on Tuesday it had stabilised production at a key mine, sending the company’s shares up. Operating profit in the second quarter just lagged forecasts but news that the crushers at the Aitik mine, one of Europe´s largest copper mines, were working better was enough... [Read more]
Uranium find in India could be world’s largest-report
Click here to read the whole story or read an excerpt below. By Ratnajyoti Dutta A huge deposit of uranium India has found in a southern state could turn out to be among the biggest reserves of the mineral in the world, reports said on Tuesday citing the head of the country’s atomic energy department. The Tumalappalli mine in Andhra Pradesh state has confirmed 49,000 tonnes of ore and there are... [Read more]
Australia’s ERA: on track to resume normal uranium processing
Click here to read the whole story or read an excerpt below. By James Regan Uranium producer Energy Resources Australia is on course to resume normal operations in mid-July at an ore processing plant shut down earlier this year over safety concerns, causing a sharp drop in production, a company spokeswoman said on Friday. “That processing plant is operating and tracking to plan,” the... [Read more]
Paper says China has legal, moral right to curb rare earth exports
Click here to read the whole story or read an excerpt below. By Michael Martina China is well within its rights, legally and morally, to limit rare earth exports, argued an article in Chinese state media on Thursday, days after the World Trade Organization ruled against China on its curbs of raw materials exports. The People’s Daily, the mouthpiece of China’s ruling Communist Party,... [Read more]
UPDATE 1-Midlands says Ghana gold project partner wants to end JV
Click here to read the whole story or read an excerpt below. By Bhaswati Mukhopadhyay Gold explorer Midlands Minerals Corp said its partner for its key Sian gold project in Ghana has informed that it plans to terminate the joint venture agreement. There is no basis for the termination being claimed by Sian Goldfields Ltd, its JV partner for the fully permitted project, said Midlands, which operates... [Read more]
Uralkali says spot potash may reach $600 per tonne
Click here to read the whole story or read an excerpt below. By Alfred Kuepper Spot potash prices could reach $600 per tonne by the end of the year, the chief executive of Russian potash producer Uralkali (URKAq.L), Vladislav Baumgertner, said on Tuesday at an investment forum in Moscow. He said that demand for potash is strong and major miners are operating at full capacity. [Read more] Read More →
UPDATE 2-Rio Tinto cuts Q3 iron ore prices as spot drops-sources
Click here to read the whole story or read an excerpt below. By Ruby Lian and Manolo Serapio Jr. Rio Tinto Ltd , the world’s No. 2 iron ore miner, will drop its prices by up to 3 percent for Chinese steel mills for the third quarter, sources with knowledge of the contract details told Reuters. The modest price cut was in line with a decline in spot prices of the steelmaking raw material. Global... [Read more]
UPDATE 1-Peregrine finds 3 more diamond formations
Click here to read the whole story or read an excerpt below. By Bhaswati Mukhopadhyay Peregrine Diamonds Ltd said it discovered three new diamond formations at its Chidliak exploration property in the northern Canadian territory of Nunavut. Chidliak is a joint venture between Peregrine and BHP Billiton Ltd , which has a 51 percent interest in the project. [Read more] Read More →
UPDATE 1-Commercial Metals Q3 profit beats Street; shares up
Click here to read the whole story or read an excerpt below. By Arup Roychoudhury Commercial Metals Co , posted its third estimate-beating profit in four quarters, helped by falling raw material prices and higher demand. For the March-May period, the metals processor and recycler’s net income was $36.2 million, or 31 cents a share, compared with a loss of $8.8 million, or 8 cents a share, a year... [Read more]
Gold gives up gains, euro zone crisis lingers
Click here to read the whole story or read an excerpt below. By Marie-Louise Gumuchian Gold gave up early gains on Monday but was still supported by euro zone debt woes after ministers delayed a decision on emergency loans to Greece, while bullion priced in sterling struck a lifetime high. Euro zone finance ministers postponed to July a final decision on extending a further 12 billion euros in... [Read more]
UPDATE 1-Spain Tubacex sees 2011 steel tube output up 15 pct
Click here to read the whole story or read an excerpt below. By Svetlana Kovalyova Spanish group Tubacex (TUBA.MC), the world’s second largest maker of seamless stainless steel tube, expects output to rise 15 percent in 2011 on demand from the oil and gas sector, Managing Director Guillermo Ruiz-Longarte told Reuters on Friday. “Total output (is expected to be) up 15 percent this year,”... [Read more]
