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Metals and Mining Precious Metals and Mining

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  • JOHANNESBURG, Aug 27- South Africa- focused platinum producer Lonmin Plc said on Thursday it expected full-year underlying cash costs to stay below its guidance, indicating that its deep cost-cutting measures were beginning to bear fruit. Lonmin said its unaudited cash costs were at 10,499 rand per PGM ounce at the end of July on a year-to-date basis and are...

  • Commodities tomorrow: Oil pops 10% Thursday, 27 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Oil pops 10%

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

  • TORONTO, Aug 27- Freeport-McMoran Inc said on Thursday it will slash its mining capital budget by 25 percent next year and cut 10 percent of its U.S. mine staff, as the diversified miner and energy producer attempts to weather an ongoing slump in copper prices. This marks the latest in a string of cuts from the Arizona- based company, which earlier this month reduced...

  • TORONTO, Aug 27- Freeport-McMoran Inc said on Thursday it will slash its mining capital budget by 25 percent next year and cut 10 percent of its U.S. mining staff, as the diversified miner and energy producer attempts to weather an ongoing slump in copper prices. Shares of Freeport-McMoran, which will also suspend operations and lower production at some U.S. mines,...

  • BILLINGS, Mont.— Members of a federal cleanup crew were initially trapped and unable to warn downstream communities that they had accidentally unleashed toxic waste water from a Colorado gold mine, according to government documents released Thursday. During that time, a trickle of water started by excavation work at the site grew to a torrent and 3 million...

  • PRECIOUS-Gold steadies after worst day in 5 weeks Wednesday, 26 Aug 2015 | 8:58 PM ET

    MANILA, Aug 27- Gold steadied early on Thursday after suffering its biggest fall in five weeks the session before as Wall Street rallied, while comments from a top Federal Reserve official that a U.S. rate hike next month looks "less compelling" could support sentiment. *Spot gold was flat at $1,125.06 an ounce by 0034 GMT, after dropping 1.3 percent on Wednesday, its...

  • Commodities tomorrow: Crude slips under $39 Wednesday, 26 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Crude slips under $39

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

  • *Gold down for third straight session. LONDON, Aug 26- Gold slipped 2 percent on Wednesday as the dollar gained and shares recouped some of their earlier losses, while investors kept a close eye on China's efforts to support its economy. Gold's losses also hurt sentiment in the more industrial precious metals.

  • *Gold down for 3rd straight session. *Palladium not far off 5- year trough. LONDON, Aug 26- Gold slipped on Wednesday, tracking losses in other markets as concerns remained about China's economic slowdown even after it eased monetary policy.

  • BUCHAREST, Romania— Officials in Romania say 25 miners are protesting more than 200 meters down in a mine, complaining that authorities will not give them an operating license. Mine manager Gabriela Dobrota said a further 79 miners joined the protest on Wednesday, gathering outside the Baita Plai mine some 520 kilometers northwest of Bucharest.

  • JOHANNESBURG, Aug 26- South Africa's mining industry, unions and the government have committed to a broad plan to stem job losses, including boosting platinum by promoting the metal as a central bank reserve asset, according to a draft agreement seen by Reuters on Wednesday. Brazil, Russia, India, China and South Africa comprise the BRICS. The gravity of the...

  • Commodities tomorrow: Traders sell gas futures Tuesday, 25 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Traders sell gas futures

    CNBC's Bertha Coombs discusses the day's activity in the commodities markets.

  • *European, U.S. stocks rally after China cuts rates. NEW YORK/ LONDON, Aug 25- Gold fell more than 1 percent on Tuesday after an interest rate cut from China helped global markets rebound from the previous day's rout, with stocks rallying and the dollar also gaining, while palladium sank more than 7 percent to a five-year low. Palladium saw the steepest losses by far in...

  • The Silverton Board of Trustees and the San Juan County Commission approved a joint resolution Monday to seek the money. The U.S. Environmental Protection Agency had pushed for 25 years to grant Superfund status to the Gold King mine and other idled 19th century mines leaking heavy metals above Silverton. Local authorities spurned federal intervention,...

  • BHP Billiton CEO a China bull as profit tumbles 86% Tuesday, 25 Aug 2015 | 10:29 AM ET

    Mining giant BHP Billiton posted an 86 percent fall in its full year profit in the face of a painful commodity price rout.

  • Navajo farmers reject use of water after mine spill Tuesday, 25 Aug 2015 | 8:47 AM ET

    FLAGSTAFF, Ariz.— One of the largest communities of Navajo farmers along the San Juan River has voted to keep irrigation canals closed for at least a year following a spill of toxic sludge at a Colorado gold mine. The unanimous vote by more than 100 farmers in Shiprock, New Mexico, was heart-wrenching and guarantees the loss of many crops, Shiprock Chapter President...

  • *Palladium down more than 7 pct to lowest since 2010. LONDON, Aug 25- Gold fell on Tuesday as global markets found some respite after the previous day's rout, with European stocks rising more than 3 percent and the dollar rebounding from a seven-month low versus the euro and the yen. Gold had edged lower on Monday, with some traders citing liquidation to cover losses...

  • *Palladium tumbles over 7 pct to lowest since 2010. MANILA, Aug 25- Gold fell on Tuesday as Asian shares bounced off three-year lows and the U.S. dollar rebounded from a brutal selloff in the prior session that was fuelled by fears over the fate of the Chinese economy. Palladium was the worst hit among precious metals, slumping more than 7 percent at one stage to its...

  • Why OPEC will not reduce production Tuesday, 25 Aug 2015 | 12:17 AM ET
    Why OPEC will not reduce production

    Previous comments from the Organization of the Petroleum Exporting Countries (OPEC) indicate that member countries will likely stand firm on oil production at the next scheduled meeting in December, says OCBC's economist Barnabas Gan.

  • Commodities tomorrow: Crude's wild ride Monday, 24 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Crude's wild ride

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