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Metals and Mining Gold Mining

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  • LONDON, July 30- Gold mining companies are turning increasingly to derivatives to lock in future revenues, as an industry still smarting from losing out on a 12- year bull run gets creative over protecting its income during the metal's current downturn. Data released this month from Societe Generale and GFMS analysts at Thomson Reuters showed options...

  • Kinross Gold reports 2Q loss Wednesday, 29 Jul 2015 | 7:42 PM ET

    TORONTO _ Kinross Gold Corp. on Wednesday reported a second-quarter loss of $83.2 million, after reporting a profit in the same period a year earlier. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for a loss of 1 cent per share. Three analysts surveyed by Zacks expected $748.6 million.

  • July 29- Kinross Gold Corp slid to a loss in the second quarter, in line with market expectations, on the back of a weaker gold price, lower gold sales and the temporary suspension of operations at a mine in Chile. The Toronto- based gold producer reported a loss of $83.2 million, or 7 cents a share, in the three months to end-June. Excluding one-time items, Kinross...

  • New Gold beats 2Q profit forecasts Tuesday, 28 Jul 2015 | 7:27 PM ET

    VANCOUVER, British Columbia _ New Gold Inc. on Tuesday reported second-quarter profit of $9.4 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Anglo American warns on further pain for commodities Friday, 24 Jul 2015 | 4:22 AM ET
    Heavy equipment is used used to mine copper at the Anglo American PLC Los Bronces (Minera Sur Andes) copper mine in central Chile,

    One of the world's largest miners, Anglo American maintained its interim dividend on Friday as a deep sell-off in metals hurt its first half profit.

  • TORONTO, July 23- Diversified U.S. miner and energy company Freeport-McMoran Inc reported a sizeable second-quarter net loss on Thursday, reflecting a big write-down for the value of its oil and gas properties and slumping prices for the copper, gold and oil that it produces. The Phoenix, Arizona- based company reported a net loss attributable to shareholders of...

  • Consolidated all-in sustaining costs per ounce are now expected to be between $920 and $980 in 2015, down from an earlier forecast of $960 to $1,020, and seen holding relatively steady at between $900 and $1,000 in 2017.. Newmont said adjusted net earnings rose to $131 million, or 26 cents a share, in the quarter to end-June from $101 million, or 20 cents a share, in...

  • Mixed earnings and easyJet lead Britain's FTSE lower Tuesday, 21 Jul 2015 | 12:09 PM ET

    *Gold stabilizes, pushes mining shares up. LONDON, July 21- Britain's top stock index edged lower on Tuesday as a mixed set of corporate results and lingering concern over commodity price falls outweighed a rebound in gold-mining companies and a rally in car insurers. "It's all a little bit lackluster today, and I suppose in some respect it's because we're in the eye...

  • *Gold stabilizes, pushes mining shares up. Receding fears over Greece have helped UK and European stocks rally in recent weeks, although UK equities remain nearly 5 percent below April's record high. "It's all a little bit lackluster today, and I suppose in some respect it's because we're in the eye of US and UK earnings," said London Capital Group analyst Brenda...

  • Britain's FTSE edges higher as gold miners rebound Tuesday, 21 Jul 2015 | 7:33 AM ET

    *FTSE 100 up 0.2 FTSE percent. *Gold stabilizes, pushes mining shares up. Receding fears over Greece have helped UK and European stocks rally in recent weeks, although UK equities remain nearly 5 percent below April's record high.

  • UK shares sag despite rebound in mining sector Tuesday, 21 Jul 2015 | 5:03 AM ET

    *UK public finances improve less than expected. LONDON, July 21- UK shares slipped early on Tuesday as a rebound for gold miners after a hammering in the previous session failed to offset a fairly mixed set of corporate results and lingering concern over commodity price falls. While receding fears around Greece have helped UK and European stocks rally in recent...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, July 21- What does gold have in common with iron ore and coal? The broad picture for gold is that since the spot price reached its peak of $1,920.30 an ounce in September 2011, demand has dropped as supply has risen.

  • Gold's tumble poses problems for debt-laden Barrick Monday, 20 Jul 2015 | 12:59 PM ET

    TORONTO, July 20- The plunging gold price poses more challenges for Barrick Gold, the world's largest gold producer, which is already shopping its assets and raising money to try to trim debt levels that stand well above those of its North American peers. Gold fell below the $1,100 for the first since March 2010 on Monday as the U.S. dollar continued to strengthen in...

  • *Gold prices hit five-year lows, platinum slumps. *Randgold Resources down 4.5 pct, Fresnillo down 4.3 pct. LONDON, July 20- A steep sell-off in shares of gold miners, tracking a plunge in the metal's price, wiped out more than $8 billion from their combined market value on Monday and pushed a global index of gold stocks to a 6-1/ 2- year low.

  • Gold trickles lower: Pro Monday, 20 Jul 2015 | 10:22 AM ET
    Gold trickles lower: Pro

    Todd Colvin, Ambrosino Brothers SVP, gives perspective to the recent drop in gold and says it's too early to tell if the downward spiral will remain.

  • Investors had their eye on company earnings news after weeks of fretting over Greece's debt crisis and a steep slide in China's stock market. "We're focused on earnings and they're coming in better," said Quincy Krosby, a market strategist at Prudential Financial. Gold slumped to its lowest level in five years, pulling mining stocks lower.

  • July 15- A project financing agreement for the underground expansion of Oyu Tolgoi, a massive copper and gold mine in Mongolia, is expected to be signed by year end, mine owner Rio Tinto's Turquoise Hill Resources unit said on Wednesday. Gold concentrate production was 238,000 ounces, more than double the 113,000 ounces in the second quarter of 2014..

  • For Indians, paper gold can't beat the real thing Sunday, 12 Jul 2015 | 5:00 PM ET

    MUMBAI, July 13- India is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared' black money'. To track larger gold deals, this year's budget declared that, from June 1, customers would have to disclose their tax code, or...

  • This sector is getting hit by China’s market dive Wednesday, 8 Jul 2015 | 11:15 AM ET

    The dramatic plunge in Chinese equity prices has hit base metals hard, with prices subdued after Tuesday's tumble.

  • PRECIOUS-Gold slips as Greek crisis knocks euro Tuesday, 30 Jun 2015 | 6:01 AM ET

    *Stocks, euro fall as Greece approaches default. *Greece hours away from deadline for IMF payment. LONDON, June 30- Gold prices fell on Tuesday as the prospect that Greece will default on a repayment to the International Monetary Fund knocked the euro, and as investors remained wary over the metal's longer-term prospects.