LIMA, Peru— The world's top finance officials lavished praise on Peru's "economic miracle" this week, lauding it for cutting poverty by half during a decade-long bonanza of record-high prices for gold, copper and other metals it mines. In a gleaming $160 million convention center built for the meeting of the World Bank and International Monetary Fund,...» Read More
ATHENS, Aug 19- Greece has suspended the mining operations of Canada's Eldorado Gold in northern Greece, saying the company violated contract terms, in a setback to one of the top foreign investment projects in the country. The $1 billion project is considered a test case for Greece's ability to attract foreign investment to help revive its economy, but has been...
Don't get caught when commodities tank. CNBC’S Deirdre Bosa tells you how to protect your portfolio.
Tony Locantro, dealer, Private Clients at Argonaut, discusses the earnings of Woodside Petroleum, which largely met market expectations on Tuesday.
--Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Aug 17- Gold investors are trying to work out whether the yuan's depreciation and the recent turmoil in Chinese equity markets is good, bad or indifferent for demand for the precious metal in the world's biggest buyer. It's possible to construct plausible-sounding arguments why the recent drama in...
Kieron Hodgson, commodity and mining analyst at Panmure Gordon, looks at the long-term trends in the mining sector and explains why it is so difficult to successfully invest in commodity stocks.
Is it time for the gold miners to rally? CNBC's Dominic Chu looks at the numbers.
LONDON, Aug 6- Gold was flat on Thursday as the dollar steadied and investors awaited U.S. employment data that could bolster prospects of the Federal Reserve raising interest rates as early as next month. The metal breached important technical support at $1,100 after a deep rout in late July pushed it as low as $1,077, its weakest since February 2010.
Paul Gait, senior research analyst for metals and mining at Sanford Bernstein, talks about the mining sector as commodity prices continue to fall.
MANILA, Aug 6- Gold struggled to pull away from a 5-1/ 2- year low on Thursday after more upbeat U.S. economic data bolstered prospects that the Federal Reserve could lift interest rates as soon as next month. "If it's in excess of 250,000, I think that will seal the deal for a September rate hike," said Howie Lee, analyst at Phillip Futures in Singapore.
Aug 5- Barrick Gold Corp said on Wednesday it is making big strides toward an ambitious debt reduction target, announcing a financing deal for its Dominican mine, the planned sale of a suite of U.S. assets and a 60 percent cut to its dividend. Barrick said it was within striking distance of its target of slashing debt by at least $3 billion this year after doing a...
Barrick, the world's biggest gold producer by ounces, said it would, in the next few weeks, start a process to sell its Bald Mountain, Round Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight assets. The Toronto- based company reported a second quarter net loss of $9 million, or 1 cent a share, compared with a net loss of $269 million, or 23 cents a share, in the...
Barrick, the world's biggest gold producer by ounces, said it would, in the next few weeks, start a process to sell its Bald Mountain, Round Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight assets.
MEXICO CITY, Aug 4- Mexican miner Penoles said on Tuesday its net profit rose 42.5 percent in the second quarter as gold production increased and net financial costs fell. Refined gold production increased more than 9 percent, Penoles said. Although most metal prices declined, Penoles said the depreciation of the peso "mitigated the adverse effects" of lower...
A worldwide slump in industry lies behind this year’s tumble in precious and base metal prices, a commodities expert has told CNBC.
Bill Beament, CEO of Northern Star Resources, says he wouldn't rule out small asset acquisitions.
Dale Rogers, executive chairman of Phoenix Gold, says margins among Australia's gold miners remain robust due to decreasing costs on the back of a weaker Australian dollar.
Raleigh Finlayson, managing director at Saracen Mineral Holdings, says factors such as a weaker Australian dollar have cushioned the impact of falling gold prices.
While declining gold prices will inevitably hurt revenue, gold miners are getting help from falling local currencies and oil costs, says Greg Foulis, CEO of Kingsgate Consolidated.
Ian Murray, executive chairman at Gold Road Resources, says some miners are "making good money" from the current gold price in Australian dollars. He later introduces the company's latest discovery: the Gruyere deposit.
Copper tumbled to a six-year low on Monday, as weak manufacturing data and the selloff in Chinese equities continued to weigh on industrial metals.