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Metals and Mining Precious Metals and Mining

  • *Burkina overtakes Tanzania as Africa's No. 4 gold producer. OUAGADOUGOU, Feb 16- Burkina Faso expects to produce a record 55 tonnes of gold in 2018, a two-thirds increase on five years ago, as new projects in the landlocked West African country come on tap, the mines minister told Reuters in an interview. That puts it ahead of Tanzania as Africa's fourth-biggest...

  • *Underlying profit slid to $116 mln in 6 mths to Dec. 31. Feb 16- Australia's top gold miner, Newcrest Mining Ltd, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58- percent slide in underlying...

  • VANCOUVER, British Columbia _ Sandstorm Gold Ltd. on Thursday reported fourth-quarter net income of $709,000, after reporting a loss in the same period a year earlier. On a per-share basis, the Vancouver, British Columbia- based company said it had net income of less than 1 cent. Sandstorm Gold shares have climbed roughly 3 percent since the beginning of the year.

  • Employees hold mixed-weight Argor-Heraeus SA branded gold bars in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary.

    One of the market's oldest inflation hedges appears to be in the early stages of a comeback: gold.

  • Commodities tomorrow:

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

  • *Underlying profit slid to $116 mln in 6 mths to Dec. 31. *That was down from $273 million the year before. Underlying profit slid to $116 million in the six months to Dec. 31, down from $273 million the year before and below a forecast of $143 million based on the average of three estimates in a poll of analysts.

  • Disbelief among South Africans that Jacob Zuma is gone

    CNBC Africa's Karabo Letlhatlha reports on Zuma's exit and the state of the country's mining industry.

  • *Spot gold inched up 0.1 percent to $1,351.96 an ounce, as of 0202 GMT. The bullion touched $1,355.50 on Wednesday, its highest since Jan. 26. *The Commerce Department said on Wednesday that U.S. retail sales decreased 0.3 percent last month, the largest decline since February 2017, as households cut back on purchases of motor vehicles and building materials.

  • Toronto- based Barrick said it expects to produce between 4.5 million and 5 million ounces of gold this year, at a cost of between $765 and $815 an ounce on an all-in sustaining basis, the industry benchmark. Further out, Barrick, which has mines in the Americas, Australia and Africa, expects to produce between 4.2 million and 4.6 million ounces of gold a year between...

  • NEW YORK, Feb 14- New York- based Paulson& Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the fourth quarter of 2017, while other heavyweights including Soros Fund Management LLC, Jana Partners LLC and Caxton Corp all remained unexposed to the metal. Paulson& Co kept its stake in SPDR Gold Trust at 4.36 million shares during the...

  • TORONTO _ Barrick Gold Corp. on Wednesday reported a fourth-quarter loss of $314 million, after reporting a profit in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Barrick Gold shares have declined roughly 6 percent since the beginning of the year.

  • TORONTO _ Kinross Gold Corp. on Wednesday reported fourth-quarter net income of $217.6 million, after reporting a loss in the same period a year earlier. The Toronto- based company said it had profit of 17 cents per share. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

  • Based on its currently-held assets, Toronto- based Barrick said it expects to produce an average of between 4.2 million and 4.6 million ounces of gold a year between 2019 and 2022 at all-in sustaining costs of $750 to $875 per ounce. In the fourth quarter, Barrick's adjusted net earnings were flat at $253 million, or 22 cents a share, from $255 million, or 22 cents a...

  • NEW YORK, Feb 14- Paulson& Co kept its stake in SPDR Gold Trust at 4.36 million shares during the fourth quarter of 2017, though the value rose to $539.1 million, up from $530 million in the third quarter, a U.S. Securities and Exchange Commission filing showed on Wednesday.

  • Barrick, the world's biggest gold producer by ounces, reported a net loss of $314 million, or a loss of 27 cents a share, in the quarter to end-December from a profit of $425 million, or 36 cents a share, in the same period a year ago.

  • TORONTO, Feb 14- Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, said on Wednesday that growing global steel production is expected to boost demand for its coal in 2018, though coal trade competition will also likely rise. Vancouver- based Teck, which also mines copper, zinc, gold and oil sands, said it is "feeling pretty good about 2018"...

  • JOHANNESBURG, Feb 14- Gold Fields Ltd will continue to evaluate and focus on efficiency at its loss-making South African asset, South Deep, after production fell below guidance in 2017, the bullion miner said on Wednesday. South Deep, which has faced operational challenges in an unforgiving geology 3 km beneath the surface, made a loss of 337.6 million rand in...

  • TORONTO, Feb 14- Canada's Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, reported an in-line fourth-quarter adjusted profit as lower operating costs helped offset a fall in sales of metallurgical coal. Teck, which also mines copper, zinc and gold, said its adjusted profit fell to C $700 million, or C $1.21 per share, in the three months...

  • TORONTO, Feb 14- Canada's Teck Resources Ltd, the world's second-biggest exporter of steelmaking coal, reported a 32.9 percent decline in fourth-quarter adjusted profit on Wednesday, as production declined at steelmaking coal business unit and average prices of metallurgical coal and metals fell. Teck, which also mines copper, zinc and gold, said its adjusted...

  • "A memento to reward your own success," reads the slogan alongside a diamond encrusted pendant in an advertisement from Chow Tai Fook, a Hong Kong- based jewellery company that has a big presence across China. Facing slowing global demand for diamond jewellery, diamond companies from around the world are reshaping marketing campaigns to tap a growing pool of...