Iron ore price hits more than 2-week low on rising inventory
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports and caution about demand outlook, but property support measures in China lent some support.
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Montage Gold receives environmental OK for Koné project
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals for the development of its Koné project in Côte d’Ivoire.
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Copper price touches $10,000 again as Goldman sees ‘stockout’ risk
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs Group Inc. warned of intensifying supply stress.
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Gold price advances as investors weigh mixed signals on US economy
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation.
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Manara Minerals’ team in Pakistan for talks on Reko Diq stake
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan’s Reko Diq gold and copper project, a Pakistan government document showed on Monday.
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Strong copper price reviving Peru’s mining mojo
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country’s mining minister said on Friday.
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Harmony Gold reports fatality at Mponeng mine
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South Africa on May 1.
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Contango grows Alaska gold footprint with two major buys
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s HighGold Mining and Avidian Gold’s subsidiary Avidian Gold Alaska.
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Gold price falls as investors face long wait until Fed rate cuts
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s comments was overoptimistic.
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Near record high LME prices a magnet for Chinese copper exports
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said.
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Barrick Gold beats estimates for quarterly profit, enters JV in Jamaica
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has entered into an exploration partnership with Geophysx Jamaica.
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Visit: 48
Barrick’s Mali mine feeds Russian war machine, advocacy group says
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ties to Russia.
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Visit: 52
Gold price fluctuates as market focuses on Fed meeting
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
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Iron ore is tight and will pass $100 test in 2024
Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property crisis hurting the outlook for steel demand there, according to HSBC Holdings Plc.
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Marex Group’s IPO raises $292 million
Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public offering priced within a marketed range.
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Visit: 74
Newmont beats quarterly profit, production estimates on Newcrest assets boost
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner benefited from strong production and higher sales.
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Visit: 78
China’s Zhaojin Mining buyout offer for Tietto Minerals now unconditional
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s Tietto Minerals has become unconditional.
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Ghana miners seek termination of Future Global Resources’ lease
Ghana Mine Workers Union is demanding the termination of the mining lease of Future Global Resources Ltd. because the company lacks the finances to invest and operate the Bogoso-Prestea gold mine it acquired more than three years ago.
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Visit: 63
Gold’s record-setting rally may have its roots in Chinese frenzy
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.
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Gold price tumbles as haven demand wanes amid easing war risks
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
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Adriatic Metals takes over as operator of Bosnian silver mine
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares silver mine in central Bosnia.
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Chile indigenous communities suspend dialogue with SQM, Codelco over lithium
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant Codelco and lithium miner SQM over expanding lithium mining in the flat, the groups said in a statement on Monday.
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Elder hurt in clash between Argentinian Indigenous community, police over mining project
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police officers who were escorting Elevado Gold personnel up the Alto de Salle hill, in the Catamarca province.
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Chinese investors snap up copper, gold stocks to drive 10% gains
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing an uphill battle to cement a nascent rebound.
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Outflows from gold ETFs slowed in March
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a slower pace than in previous months as North American and Asian inflows cushioned European losses, the World Gold Council (WGC) said.
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