Hecla Mining Co. fell$. 03 or. 9 percent, to $3.28. Pan American Silver Corp. fell$. 10 or. 7 percent, to $14.90. Silver Wheaton fell$. 17 or. 6 percent, to $26.55.» Read More
*Move will cut over half of Amplats workforce. *CEO says would prefer to sell assets in one go. JOHANNESBURG, July 21- World number-one platinum producer Anglo American Platinum is to sell a swathe of its most labor-intensive South African mines after a five-month strike shattered its hopes of ever making them profitable.
*Move will cut over half of Amplats workforce. JOHANNESBURG, July 21- World number-one platinum producer Anglo American Platinum is to sell a swathe of its most labor-intensive South African mines after a five-month strike shattered its hopes of ever making them profitable.
*South Africa's union turf war rumbles eastward. MARULA PLATINUM MINE, South Africa, July 20- When a wildcat strike hit Impala Platinum's Marula mine in South Africa's Limpopo province this month, union leaders there had no idea it was coming.
LIMA, Peru— Dozens of international groups, the United Nations, and even Peru's own citizen ombudsman are objecting to a new law that weakens environmental protections in the Andean nation even as it prepares to host international climate-control talks this year.
Gold prices settled lower to end the week, a day after concerns about a conflict between Russia and Ukraine shot prices up. Gold for August delivery fell $7.50, or 0.6 percent, to $1,309.40 an ounce. Speculation that tensions between Russia and Ukraine could boil over sent traders into precious metals.
The announcement came as the EPA was being sued by Pebble Limited Partnership, the group behind the proposed Pebble Mine, and the state of Alaska for allegedly exceeding its authority.
Nitesh Shah, research analyst at ETF Securities, and Amrita Sen, chief oil analyst at Energy Aspects, discuss how geopolitical tensions over the past few months have affected the price of oil and gold.
*Malaysian airliner crash intensifies Ukraine tensions U.S. imposes more sanctions on Russia. NEW YORK/ LONDON, July 17- Gold surged 1.5 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil was up on the day, as was gold, following the apparent shooting down of a Malaysian Airlines jet over Ukraine. Nat gas was down after the day's storage report numbers.
NEW YORK/ LONDON, July 17- Gold surged 1.3 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.
NEW YORK/ LONDON, July 17- Gold prices climbed more than 1 percent on Thursday on heightened geopolitical tensions and news of more U.S. sanctions against Russia, while palladium rose more than 1 percent on renewed supply worries.
*Palladium prices hit highest since February 2001. LONDON, July 17- Gold rose on Thursday, extending the previous day's recovery from four-week lows as investors took advantage of lower prices to buy, though expectations that U.S. monetary policy is set to tighten limited gains.
NEW YORK, July 16- U.S. precious metals dealer Anthem Vault Inc said on Wednesday it has launched the first digital currency backed by physical gold, with an aim to increase the use of bullion as an accepted form of electronic money.
Corn and soybean futures ended higher Wednesday, reversing course after several weeks of losses. Corn for December delivery, the most actively traded contract, rose 5 cents, or 1.3 percent, to $3.87 a bushel. Platinum for October delivery added 70 cents to $1,485.70 an ounce and palladium for September delivery rose $8.20 to $876.75 an ounce.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil climbed on the day, as crude inventories were down 7.2 million barrels.
TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.
NEW YORK— Shares of some top gold companies are up at 1 p.m.:. Barrick Gold Corp. rose$. 44 or 2.4 percent, to $18.77. Newmont Mining Corp. rose$. 76 or 3.1 percent, to $25.45.
Hecla Mining Co. rose$. 13 or 3.9 percent, to $3.31. Pan American Silver Corp. rose$. 19 or 1.3 percent, to $14.92. Silver Standard Resources Inc. rose$. 27 or 3.1 percent, to $8.87.
Sokalky became president and CEO of Barrick Gold Corp. in June 2012. The management moves come shortly after Barrick Gold founder Peter Munk retired as chairman. They will have overall responsibility for the execution of Barrick Gold's strategic priorities and operating plans.
Hecla Mining Co. rose$. 06 or 1.7 percent, to $3.24. Pan American Silver Corp. rose$. 11 or. 7 percent, to $14.84. Silver Standard Resources Inc. rose$. 20 or 2.3 percent, to $8.80.