Demand for aluminum slows in another sign of troubled economy

Mining News Pro - Storm clouds are forming in the North American aluminum market as makers of everything from automobiles to beverage cans to kitchen appliances are holding off booking next year’s raw material orders.

London gold dealer runs out of bullion as Truss budget shocks

Mining News Pro - When the pound slumped as Kwasi Kwarteng presented his mini-budget, some Britons rushed to the safety of a haven that’s recently lost its luster: gold.

Aluminum price extends gains after record spike on Russia supply fears

Mining News Pro - Aluminum rose again after Thursday’s record surge, with the London Metal Exchange’s plan to discuss a potential ban on Russian metal exacerbating supply concerns while stimulus measures in China bolstered the demand outlook.

Gold price rallies as dollar pulls back

Mining News Pro - Gold rose by nearly 2% on Wednesday as a slight retreat in the dollar rekindled some of its safe-haven appeal, although prospects of sharp rate hikes are still keeping the precious metal near a 2-1/2-year trough.

Gold price touches new 2-year low after parade of rate hikes

Mining News Pro - Gold continued its recent struggles on Friday to set a new two-year low after a slew of central banks followed the US Federal Reserve in raising interest rates to cool inflation.

Gold price drops to lowest in two years on Fed rate hike bets

Mining News Pro - Gold plunged to its lowest since April 2020 on Thursday amid expectations of more aggressive interest rate hikes by the Federal Reserve despite a fresh round of mixed data on the US economy.

Marathon Gold raises $114m to fund Valentine mine construction

Mining News Pro - Marathon Gold has entered an agreement with a syndicate of underwriters led by Canaccord Genuity to purchase, on a bought deal basis, approximately 136.4 million units of the company priced at C$1.10 per unit for gross proceeds of C$150 million ($114m). The underwriters also have an option to buy additional units for up to C$22.5 million.

LME says market to remain open despite queen’s funeral

Mining News Pro - The London Metal Exchange (LME) will remain open on Sept 19, the day of the funeral of Queen Elizabeth, even though it has been declared a public holiday, the exchange said on Tuesday.

Equinox Gold resumes operations at Los Filos

Mining News Pro - Canada’s Equinox Gold has resumed operations at its Los Filos mine in Mexico, which were halted last week as the result of a blockade by members of the nearby Mezcala community.

Gold price slides as hotter US inflation keeps hawkish Fed on track

Mining News Pro - Gold fell the most in almost a month after US inflation data came in hotter than expected, maintaining pressure on the Federal Reserve to keep aggressively raising rates.

Greatland unveils A$340m funding solution for Havieron

Mining News Pro - Greatland Gold has secured up to A$340-million in new funding for the development of the Havieron gold project, including up to A$120-million in funding from Wyloo Metals.

Rio2 appeals rejection of EIA for Chile gold project

Mining News Pro - Canada’s Rio2’s is appealing the rejection of the environmental impact assessment (EIA) for its Fenix gold project in Chile’s northern Maricunga region, arguing the dismissal is not consistent with the environmental assessment process that took place over the past two years.

The copper market is flashing signs of tight supply

Mining News Pro - Copper spreads are spiking in a signal that physical supplies remain tight despite global economic headwinds.

Gold price near ‘danger zone’ as dollar

Mining News Pro - Gold steadied after a two-day decline as traders eyed the soaring dollar and a surge in Treasury yields amid expectations of further monetary tightening by the Federal Reserve.

Aluminum price lowest since April 2021 on strong dollar and demand outlook

Mining News Pro - The aluminum price sank to the lowest since April 2021 on Wednesday as faltering global economic growth weakened the outlook for demand and boosted the dollar.

Gold Fields bolsters Chile presence with investment in Torq Resources

Mining News Pro - Torq Resources has welcomed Gold Fields as its new strategic investor after announcing a C$15 million private placement with a wholly owned affiliate of the NYSE-listed miner. The companies have also entered into an investment agreement that entitles Gold Fields to a pre-emptive right to maintain its stake in Torq.

Aluminum price at 17-month lows as strong dollar overshadows smelter cuts

Mining News Pro - Aluminum prices fell to 17 month lows on Tuesday as a strong dollar and worries over economic growth overshadowed production cuts in Europe.

Centerra Gold searches for new CEO

Mining News Pro - Canada’s Centerra Gold said on Tuesday it had named director Paul Wright as interim president and chief executive to replace Scott Perry, without providing reasons for the sudden change at the top.

O3 Mining completes PFS for Marban Engineering gold project with increased production profile

Mining News Pro - O3 Mining (TSXV: OIII) has completed a pre-feasibility study (PFS) for its 100% owned Marban Engineering gold project, demonstrating its potential to become the next gold producer in the mining region of Val-d’Or, Quebec.

Weekly Report: A Glance at the Price of Different Minerals

Mining News Pro - Gold extended gains after a jobs report showed more Americans are coming back to the labor market, a welcome sign for the Federal Reserve as it tries to cool inflation.

Moody’s cuts metals price calls amid slowing global growth

Mining News Pro - Credit rating firm Moody’s Investors Service has pared down its 12-month price outlook for a basket of metals and mining commodities, citing a global economic slowdown and softening demand.

Iron ore price down as China’s covid

Mining News Pro - The iron ore price fell on Thursday pressured by worries over fresh covid-19 restrictions and property sector troubles in China squeezing demand for ferrous metals.

Gold price falls to six-week low as dollar rallies on sour sentiment

Mining News Pro - Gold fell to a six-week low as the dollar strengthened after US reports pointed to a resilient US economy.

Barrick Gold to sell royalty portfolio to Maverix Metals for $60 million

Mining News Pro - Barrick Gold announced Thursday that it has entered into an agreement to sell a portfolio of royalties to Maverix Metals (TSX: MMX) for total consideration of up to $60 million.

Gold price pares gains as traders weigh US data, Fed rate hike path

Mining News Pro - Gold pared early gains after the latest data pointed to a mixed US economy, while traders await a key speech by Federal Reserve Chair Jerome Powell for clues on monetary tightening.

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