A worldwide slump in industry lies behind this year’s tumble in precious and base metal prices, a commodities expert has told CNBC.» Read More
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.
As the sun goes down, delegates attending the Diggers and Dealers mining forum flock to the local pubs. CNBC's Matthew Taylor has more from Kalgoorlie, Western Australia.
Dan Lougher, MD & CEO of Western Areas, says the firm rolled out cost-cutting measures to combat falling commodity prices, while a weaker Aussie dollar is working in the company's favor.
Raleigh Finlayson, managing director at Saracen Mineral Holdings, says factors such as a weaker Australian dollar have cushioned the impact of falling gold prices.
Despite the recent decline in the price of zinc, Heron Resources remains positive on the commodity's supply and demand fundamentals, says managing director & CEO Wayne Taylor.
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.
Paul Bloxham, chief economist for Australia and New Zealand at HSBC, expects the Reserve Bank of Australia to keep interest rates steady following the recent fall in the Australian dollar.
President Obama unveiled his plan to tackle climate change by reducing greenhouse gas emissions.
Aug 3- Alpha Natural Resources Inc, one of the largest U.S. coal companies, became the latest in the hard-hit industry to seek bankruptcy on Monday. Walter Energy Inc and Patriot Coal Corp also filed for bankruptcy protection this year. Energy Future Holdings Corp, a power company that also has a large coal mining business, has been in bankruptcy since 2014..
Colin Hamilton, head of commodities research at Macquarie, discusses the commodities market and the collapse in prices for metals such as copper and gold.
LONDON, Aug 3- Volatility has returned to zinc spreads on the London Metal Exchange. Things have quietened down a little today but there is plenty of potential for more fun and games on the nearby spreads ahead of Aug. 19, this month's third-Wednesday prime prompt date. The outright three-month price is still sliding, touching a low point of $1,882.50 this morning,...
Aug 3- Coal miner Alpha Natural Resources Inc became the latest company to file for Chapter 11 bankruptcy due to a steep fall in coal prices. Walter Energy Inc and Patriot Coal Corp filed for bankruptcy protection earlier this year. The company and its affiliates operate more than 50 underground and surface mines, and more than 20 coal preparation facilities in...
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.
NEW YORK— Alpha Natural Resources Inc., one of the country's biggest coal producers, became the latest in a string of coal companies to seek bankruptcy protection amid an historic shift in the electric power sector brought on by cheap natural gas and stricter pollution regulations. Alpha operates about 60 coal mines, many in parts of Appalachia that have seen...
*Copper mine supply disruptions mount; market nears balance- MS. MELBOURNE, Aug 3- London copper sank back towards six-year lows on Monday on jitters over China's economic health, after factory growth stuttered in July and a central bank official said downward pressure on the economy would persist into the second half. A private survey on Monday showed China's...
Asian spot iron ore does meet the technical definition of being in a bull market, having gained 25.4 percent between its record low of $44.10 a tonne on July 8 and the close of $55.30 on July 29. It's also worth noting that the so-called bull market was nowhere near as clear in the main iron ore derivative markets in Dalian and Singapore. Front-month Dalian futures...
Peter Bradford, managing director & CEO at Independence Group, says the company acquired Sirius Resources so as to strengthen its development pipeline and future cash flow.
MELBOURNE, Aug 3- London copper slipped on Monday on jitters over China's economic health, after factory growth stuttered in July and a central bank official said downward pressure on the economy would persist into the second half. A private survey on Monday showed China's factory activity contracted by the most in two years as new orders fell, dashing hopes...
Mark Bennett, managing director at Sirius Resources, discusses the company's merger with Independence Group.