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Metals and Mining Precious Metals and Mining

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  • Aug 5- Miner Freeport-McMoRan Inc said it would cut its budget for oil and gas operations due to weak prices and defer investments in several long-term projects. The company also said it was reviewing its plans for global copper and molybdenum operations, due to weak commodity prices. The company cut its 2016 and 2017 capital budget for its oil and gas operations...

  • Commodities tomorrow: Crude pops Tuesday, 4 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Crude pops

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

  • Platinum, palladium fall on oversupply, weak China demand. NEW YORK/ LONDON, Aug 4- Gold retreated from intraday highs on Tuesday as the dollar moved higher and a voting member of the U.S. Gold prices fell from their highs after Atlanta Federal Reserve President Dennis Lockhart said it would take "significant deterioration" in the U.S. economy for him to not support a...

  • MEXICO CITY, Aug 4- Mexican miner Penoles said on Tuesday its net profit rose 42.5 percent in the second quarter as gold production increased and net financial costs fell. Refined gold production increased more than 9 percent, Penoles said. Although most metal prices declined, Penoles said the depreciation of the peso "mitigated the adverse effects" of lower...

  • A worldwide slump in industry lies behind this year’s tumble in precious and base metal prices, a commodities expert has told CNBC.

  • *Platinum, palladium fall on oversupply, weak China demand. LONDON, Aug 4- Gold rose on Tuesday as the dollar weakened after soft U.S. economic data, while platinum and palladium hit multi-year lows on oversupply and sluggish autocatalysts demand. Platinum dipped to its lowest since January 2009 at $940.50 an ounce, while palladium hit a near three-year low of...

  • Gold Road Resources: We're enjoying currency benefits

    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.

  • Commodities tomorrow: Oil down 4% Monday, 3 Aug 2015 | 4:00 PM ET
    Commodities tomorrow: Oil down 4%

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

  • Copper heads for bear market as confidence vanishes Monday, 3 Aug 2015 | 9:44 AM ET

    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, July 31- Investors worldwide pulled $1.2 billion out of precious metals funds in the week ended July 29 on expectations for higher U.S. interest rates and weakness in Chinese shares, data from a Bank of America Merrill Lynch Global Research report showed on Friday. A sudden, sharp rout across New York and Shanghai markets intensified selling pressure on...

  • JOHANNESBURG, July 31- Unions at South African gold producers are divided over whether to accept a final wage offer and avert the kind of prolonged strike that affected the platinum sector last year. AngloGold Ashanti, Sibanye Gold, Harmony Gold and two smaller producers, have offered wage increases of up to 17 percent, saying the sector is grappling with...

  • LONDON, July 31- Barrick Gold Corp's sale of half of its Zaldivar copper mine in Chile to Antofagasta for what analysts say is a pricey $1 billion hit Antofagasta's shares on Friday, but could help Anglo American in its own copper assets sale. Shares in Antofagasta fell by almost 5 percent on Friday to their lowest in six years, after the announcement late on...

  • MANILA, July 31- Gold hovered near 5-1/ 2- year lows early on Friday and is on course for a sixth straight weekly fall, its longest retreat since 1999, after strong U.S. *Spot gold was up 0.1 percent at $1,088.86 an ounce by 0037 GMT, but not far above last week's trough of $1,077, its lowest since February 2010. *The metal hit a low of $1,081.85 on Thursday as the dollar...

  • July 30- Barrick Gold Corp agreed on Thursday to sell 50 percent of its Zaldivar copper mine in Chile to copper miner Antofagasta Plc for $1 billion in cash, and both parties stressed that this was just the start of more cooperation. Both Barrick and Antofagasta said the deal was a launch pad for future co-operation, likely in Chile where Barrick owns large, unbuilt...

  • July 30- Barrick Gold Corp said on Thursday it had reached an agreement to sell 50 percent of its Zaldivar copper mine in Chile to Chilean-based copper miner Antofagasta Plc for just over $1 billion in cash. Antofagasta would become the operator of Zaldivar and would be overseen by a board consisting of three nominees from each company. "There are many potential...

  • Commodities tomorrow: Downside pressure continues Thursday, 30 Jul 2015 | 4:00 PM ET
    Commodities tomorrow: Downside pressure continues

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

  • Lonmin: victim of price falls and management wobbles Thursday, 30 Jul 2015 | 8:53 AM ET

    LONMIN: VICTIM OF PRICE FALLS AND MANAGEMENT WOBBLES@* Platinum producers hit by falling prices, rising costs* Lonmin seen bleeding more quickly than others* Shares hit lowest levels since 1979. LONDON/ JOHANNESBURG, July 30- Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and...

  • LONDON, July 30- Gold mining companies are turning increasingly to derivatives to lock in future revenues, as an industry still smarting from losing out on a 12- year bull run gets creative over protecting its income during the metal's current downturn. Data released this month from Societe Generale and GFMS analysts at Thomson Reuters showed options...

  • July 29- Kinross Gold Corp is again considering cutting jobs at its Tasiast gold mine in Mauritania, Chief Executive Officer Paul Rollinson said on Wednesday, as the Canadian miner looks for ways to reduce costs at its higher-cost mines amid sliding metals prices. High costs have dogged Tasiast since its purchase as part of Kinross' $7.1 billion takeover of...

  • July 29- Kinross Gold Corp slid to a loss in the second quarter, in line with market expectations, on the back of a weaker gold price, lower gold sales and the temporary suspension of operations at a mine in Chile. The Toronto- based gold producer reported a loss of $83.2 million, or 7 cents a share, in the three months to end-June. Excluding one-time items, Kinross...