Mining veteran Mick Davis raises $590 million for metals fund

Mining News Pro - Mining veteran Mick Davis’s investment firm raised $590 million as the dealmaker steps up his hunt for the metals needed for the energy transition.

Currency markets wobble after Credit Suisse deal as Fed remains acid test

Mining News Pro - Currency markets fluctuated amid thin volumes after Switzerland brokered a rescue of Credit Suisse Group AG, with traders weighing the deal’s impact on the Federal Reserve’s monetary-tightening path.

AQR leads 10 hedge funds suing LME over nickel trade debacle

Mining News Pro - AQR Capital Management formally filed a London lawsuit against the London Metal Exchange, joining nine other hedge funds in a series of claims targeting the exchange’s decision to cancel billions of dollars in nickel trades last year.

Harmony Gold says profit boosted by better metal grades and prices

Mining News Pro - South Africa’s Harmony Gold expects profit for the six months to Dec. 31 to have risen by as much as 30%, it said on Thursday, with higher metal grades and prices offsetting increased production costs.

Harmony Gold says profit boosted by better metal grades and prices

Mining News Pro - Harmony Gold expects profit for the six months to Dec. 31 to have risen by as much as 30%, it said on Thursday, with higher metal grades and prices offsetting increased production costs.

Historically low stocks behind spike in zinc price for delivery tomorrow

Mining News Pro - Prices of London Metal Exchange (LME) zinc for delivery tomorrow traded at a large premium on Monday over prices for the following day due to buying fuelled by nervousness about availability in the LME system as stocks hit historic lows.

Banning Russian aluminum would create uncertainty about LME’s role

Mining News Pro - Banning Rusal’s metal will fuel volatility in the London Metal Exchange’s aluminum contracts and create uncertainty about the exchange’s role in the metals industry, the Russian aluminum giant said in a letter seen by Reuters.

Gold price near ‘danger zone’ as dollar

Mining News Pro - Gold steadied after a two-day decline as traders eyed the soaring dollar and a surge in Treasury yields amid expectations of further monetary tightening by the Federal Reserve.

Iron ore price rises as China cuts lending benchmarks

Mining News Pro - The iron ore price rose on Tuesday after China cut benchmark lending rates and lowered the mortgage reference by a bigger margin in a move to support its property market.

LME nickel volumes plunge with exchange still hostage to March trading fiasco

Mining News Pro - The volume of nickel traded on the London Metal Exchange (LME) dropped more than 40% in July as funds, consumers and producers continued to shun the market – months after trade was suspended for more than a week in March as prices dramatically spiked.

Copper price near 6-week high on softer than expected US inflation

Mining News Pro - The copper price rose on Thursday to the highest in nearly six weeks, helped by easing demand worries after US inflation data came in softer than expected.

Aluminum price pulls back on concern about Chinese construction demand

Mining News Pro - Aluminum and copper prices slipped on Wednesday on worries about declining demand after data from top metals consumer China highlighted a weak construction sector.

China July copper imports rise on-year as price slump spurs buying

Mining News Pro - China’s imports of copper rose 9.3% from a year earlier, customs data on Sunday showed, as a sharp drop in the price of the metal triggered buying appetite amid falling domestic inventories.

Gold price rises to four-week high ahead of fresh US economic data

Mining News Pro - Gold rose to the highest since early July as investors waited on fresh data to be released on the state of the US economy and the potential pace for interest rate hikes.

Glencore flags cash tied up in record trading profits

Mining News Pro - Glencore Plc, on course to report it best ever trading year, has flagged that those profitable bets have tied up more working capital than normal.

Rio Tinto, Fortescue record profits near end on price view

Mining News Pro - Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labor market.

Gold price set for longest run of weekly losses since 2018

Mining News Pro - Gold is heading for its fifth weekly loss, the longest streak of such declines in almost four years, with haven credentials sidelined by investors becoming super-bullish on the US dollar.

Wealth shock delays gold bull market as Goldman revises targets

Mining News Pro - Gold has been hit by a large “wealth shock” on the back of a weaker yuan following the economic impact of the lockdowns in China, the world’s largest consumer, according to Goldman Sachs Group Inc., which revised its price targets. Still, the worst may be over, it added.

Iron ore price sees biggest weekly gain since March on China demand optimism

Mining News Pro - The iron ore price topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in covid-19 restrictions that have weighed on steel demand this quarter.

Copper price hits 8-month low on slowdown fears

Mining News Pro - Copper prices tumbled on Thursday to their lowest in 8 months as traders worried that a slowing global economy would require less metal.

Bears tip-toe back into copper market as demand fears grow

Mining News Pro - Copper prices were under pressure Monday morning, with London Metal Exchange three-month metal falling below the $10,000 per tonne level for the first time in a month.

Gold price bounces back after Fed’s rate hike announcement

Mining News Pro - Gold steadied on Wednesday after falling to a two-week low earlier as the US Federal Reserve, in a widely expected move, raised interest rates by a quarter of a percentage point.

Potential Russian oil ban pushes gold price above $2,000

Mining News Pro - Gold extended its biggest weekly advance since July 2020 amid reports of the US and its allies contemplating an embargo of Russian oil, raising concerns about higher inflation and slowing economic growth.

Gold price falls over 1% as uptick in risk sentiment drives down havens

Mining News Pro - Gold prices dropped from their highest in over a year on Wednesday as risk sentiment was buoyed by reports that Russia is ready to hold a new round of talks with Ukraine.

Gold price gains as investors weigh impact of Russia sanctions

Mining News Pro - Gold extended gains on Tuesday as investors continue to assess the risks to global growth that may stem from the sanctions against Russia in the wake of its invasion of Ukraine.

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