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Precious Metals and Mining

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  • VANCOUVER, July 7- Shares in Silver Wheaton Corp fell more than 7 percent on Tuesday after the mining finance company said it may face tax payments of more than US $200 million following a reassessment "proposal" from Canada's tax authority. Vancouver- based Silver Wheaton said late on Monday it had received a letter from the Canada Revenue Agency that proposes...

  • GABORONE, July 7- Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production, the company said on Tuesday. Construction of the mine, which will be built by Cupric's Botswana unit Khoemacau, is set to start in 2016 with the first copper expected to be shipped to the...

  • *All eyes on euro zone summit on Greece later on Tuesday. SINGAPORE, July 7- Gold fell on Tuesday as markets awaited news from a euro zone summit to see whether progress would be made in the Greek debt crisis, even as increasing short positions in the precious metal underlined bearish sentiment towards bullion. Gold has so far failed to see significant safe-haven...

  • *Platinum falls to lowest since 2009. NEW YORK/ LONDON, July 6- Gold eked out small gains on Monday in a rare spurt of safe-haven buying after Greek voters rejected terms of a bailout package, deepening the country's economic woes, and offsetting pressure from a rising U.S. dollar. "It seems likely there were some concerns that the rhetoric from that joint...

  • Commodities tomorrow: Extreme selling pressure Monday, 6 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Extreme selling pressure

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • *Silver, platinum, palladium all decline. LONDON, July 6- Gold fell on Monday as a robust dollar outweighed the impact of lower equity markets and some retail demand after a Greek vote rejected the terms of a bailout package that could set Athens on a path out of the euro zone. Spot gold was down 0.3 percent at $1,163.50 an ounce by 0956 GMT, while U.S. gold futures were...

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.

  • LONDON, July 1- Mongolia's prime minister sees signs of progress in developing the country's biggest coal mine and a gold project, hoping to win back much needed foreign investment after resolving a dispute with miner Rio Tinto. Mongolia gets almost 90 percent of its revenue from the mining sector and was hit by a fall in commodity prices last year.

  • JOHANNESBURG/ LONDON, July 1- South Africa's platinum sector is at a crucial juncture as the metal's price, near six-year lows, maintains a steady decline, with analysts now contemplating a move below $1,000 an ounce. Platinum has fallen nearly 10 percent so far this year, and at current prices of less than $1,100 an ounce, many shafts in the world's top producing...

  • Commodities tomorrow: Crude bucks the buck Tuesday, 30 Jun 2015 | 4:00 PM ET
    Commodities tomorrow: Crude bucks the buck

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • China, the world's dominant producer, was choking supply and investors were stampeding into the hottest ticket in town. The ensuing bust was equally spectacular with prices collapsing as buyers went on strike and China, under international pressure, loosened its stranglehold. With Molycorp and its Australian peer, Lynas, struggling to stay afloat, all the old...

  • 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.

  • Commodities tomorrow: Dollar up, crude down Monday, 29 Jun 2015 | 4:00 PM ET
    Commodities tomorrow: Dollar up, crude down

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • How much will gold benefit from Greek fears? Sunday, 28 Jun 2015 | 7:47 PM ET
    How much will gold benefit from Greek fears?

    Ivan Szpakowski, commodities strategist at Citi, says Greece's debt crisis will help to push the price of gold above $1,200 an ounce.

  • June 26- Mining firm Rio Tinto Ltd has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's prime minister said on Friday. The second phase of construction at the mine is expected to begin this year, Prime Minister Chimed Saikhanbileg...

  • *Gold hits lowest since June 5, focus on Greece. *Palladium slides to near 2- year low at $666.82/ oz. LONDON, June 26- Gold slid to three-week lows on Friday as the euro slipped against the dollar on caution ahead of crunch talks on Greece this weekend, with concerns over the longer-term outlook for the metal also weighing on prices.

  • MARIKANA, South Africa, June 26- Almost three years after South African police shot 34 striking miners dead outside platinum producer Lonmin's Marikana mine, little has changed in this hardscrabble town that has become a symbol of post-apartheid hardship and inequities. A long-awaited probe into the slayings, unveiled on Thursday by President Jacob Zuma,...

  • LONDON, June 26- Shares in London- listed platinum producer Lonmin dropped to their lowest level in 3-1/ 2 months on Friday, after an inquiry into the killing of 34 miners during a 2012 strike put some of the blame on the company. Lonmin, the world's fourth-largest platinum producer by market value, was at the center of the 2012 strike which saw the "Marikana massacre,"...

  • Rio Tinto's most valuable diamond tender Thursday, 25 Jun 2015 | 9:45 PM ET
    Rio Tinto's most valuable diamond tender

    Alan Davies, CEO of Rio Tinto Diamonds and Minerals, says the gems in this year's tender include some of the most vivid pink and red diamonds ever dug out of the Argyle mine.