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Metals and Mining Precious Metals and Mining

  • The Toronto- based miner, which is hiking its dividend to 3 cents from 2 cents a share, said it will expand its hunt for new gold beyond trusted core districts and projects, to so-called' greenfield' areas. Some 80 percent of the $185- $225 million exploration budget is earmarked for the Americas, with much of the remainder for its African unit, Acacia.

  • Feb 15- Some 1,000 unionized employees at Primero Mining Corp have gone on strike at the Canadian gold miner's San Dimas mine in Mexico, halting mining and milling operations, the company and union said on Wednesday. The National Union of Mine, Metal, Steel and Allied Workers of the Mexican Republic said about 1,000 workers began the strike at midnight.

  • TORONTO _ Barrick Gold Corp. on Wednesday reported fourth-quarter net income of $425 million, after reporting a loss in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share. Barrick Gold shares have climbed 21 percent since the beginning of the year.

  • Feb 15- Unionized employees at Primero Mining Corp have gone on strike, resulting in a complete halt to mining and milling operations at the Canadian gold miner's San Dimas mine in Mexico, the company said on Wednesday. Depending on its duration, the strike could have a negative impact on the company's 2017 production, Primero said. As a result, it has decided to...

  • Feb 15- Goldcorp Inc reported a higher-than-expected fourth-quarter profit on Wednesday compared to a steep loss a year ago, as much lower costs at its gold mines in the Americas and a higher gold price offset lower production. That compared with a loss of $4.3 billion, or $5.14 per share, a year earlier when the Canadian miner wrote down the value of a mine in...

  • TORONTO, Feb 15- Barrick Gold Corp said on Wednesday that fourth-quarter profits rose from last year, reflecting further cost cuts and a rise in metal prices, as the world's largest gold miner increased its dividend and planned to further pare its debt. The Toronto- based miner reported an adjusted profit of $255 million, or 22 cents a share, up from $91 million, or 8...

  • TORONTO, Feb 15- Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Wednesday, lifted by a surge in the price of coal for steelmaking, but said weaker demand in recent weeks was eroding prices and sales. Shares of the Vancouver- based company, which also mines copper, gold and silver, were down 4.3 percent at C $31.27 in early...

  • JOHANNESBURG, Feb 15- Anglo American Platinum, the world's top producer of the precious metal, announced a swing back into profit on Wednesday, along with the sale of another mine, but said it was still not ready to resume dividend payments. On Wednesday Amplats, which is majority-owned by Anglo American, announced it was also selling its Union mine to unlisted...

  • VANCOUVER, British Columbia _ Pan American Silver Corp. on Tuesday reported fourth-quarter net income of $21.8 million, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. Pan American Silver shares have climbed 38 percent since the...

  • ULAANBAATAR, Mongolia— Mongolian lawmakers have told the government to revoke a private company's purchase of a stake in a major copper mine, a move the president warned could scare away investors at a time when the economy is already struggling. The move highlights the political sensitivity of Mongolia's copper, gold and other mineral wealth, the source of...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that the price of gold would not likely trigger an industry-wide wave of new mining projects until it reached at least $1,350 per ounce. Victor Gobitz told Reuters in an interview that gold's recent rally, bringing it to about $1,225 an ounce on Tuesday, had...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that the price of gold will not likely trigger an industry-wide wave of new mining projects until it reaches at least $1,350 per ounce. Victor Gobitz told Reuters that gold's recent rally, combined with the company's rising production, has bolstered...

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that he does not think the price of gold will trigger the mining industry to initiate new mining projects until it reaches at least $1,350 per ounce.

  • What I'm sure about is that we need access to additional sources of financing, " Eduardo Pacheco told Reuters in an interview at his Bogota office. Colpatria in 2011 tapped Canada's Scotiabank as a partner, ceding 51 percent in Banco Colpatria, and in 2013 it sold a similar amount of its insurance business to France's AXA. The construction unit has operations in...

  • ULAANBAATAR, Mongolia— Mongolian lawmakers have told the government to revoke a private company's purchase of a stake in a major copper mine, prompting the president to warn they might scare away investors as the country tries to reverse an economic slump. The move highlights the political sensitivity of Mongolia's copper, gold and other mineral wealth, the...

  • Uncertainty over U.S. President Donald Trump's term in office will boost gold prices, an Australian asset manager says. In this photo taken on January 31 in the China,  an inflatable rooster figure with a Donald Trump hairstyle and hand gestures, stands outside a gold shop to attract customers.

    Uncertainty in the next few years over the term of Donald Trump’s presidency will boost the gold market, an asset manager said Tuesday.

  • Commodities tomorrow:

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

  • **Glencore has increased its hold on Democratic Republic of Congo's copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for a total of $960 million. **Grupo Seb do Brasil said it had agreed to buy 95 percent of Maple Bear Global Schools Ltd's operations in Brazil for $50...

  • **Glencore has increased its hold on Democratic Republic of Congo's copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for a total of $960 million. **Grupo Seb do Brasil said it had agreed to buy 95 percent of Maple Bear Global Schools Ltd's operations in Brazil for $50...

  • **Glencore has increased its hold on Democratic Republic of Congo's copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for a total of $960 million. **Grupo Seb do Brasil said it had agreed to buy 95 percent of Maple Bear Global Schools Ltd's operations in Brazil for $50...