A bankrupt aluminum smelter that re-opened in 2018, after U.S. President Donald Trump imposed tariffs on imported metals, is losing money at such a rapid clip that it could close within 60 days, the top executive at the Missouri plant said on Thursday.
BEIJING-- Deepening economic damage from China's coronavirus outbreak is forcing its leadership to confront an agonizing decision: when to ease quarantine restrictions that are strangling growth, even as they help contain the virus's spread. Businesses executives and some local leaders are becoming more vocal about the need to streamline rules to reopen factories and get workers and supplies moving again in many parts of the country where activity remains at a standstill.
An independent report commissioned by Vale SA (VALE) into last year's deadly mine-dam failure found conflicts of interest between the mining giant and its auditors, faulty information-sharing inside the company and a compensation structure that prioritized financial returns. The committee that wrote the report said all these factors contributed to the disaster, which killed 270.. The report, which Vale made public this week, was the second commissioned and released by Vale into...
Year to date, palladium's up 36%, while rhodium prices have more than doubled. Palladium notched fresh records this week, but analysts warn that COVID-19's impact on the global economy warrants caution for traders looking to participate in the rally for the metal, or those eyeing prospects for sister metals rhodium and platinum. "Palladium is off to another scorching start in 2020," said Ed Egilinsky, managing director and head of alternative investments at Direxion.
By Myra P. Saefong and Mark DeCambre, MarketWatch. Government bond yields skid lower, supporting gold. Gold futures rallied on Friday and posted the biggest weekly gain in eight months, as downbeat U.S. economic data and steadily sliding government bond yields offered fresh support to the haven asset that is on pace for a seventh straight session gain.
Cleveland-Cliffs Inc. (CLF) and AK Steel Holding Corporation (AKS) today announced that they have now received all of the necessary regulatory approvals in connection with their proposed merger transaction. Today, Cliffs and AK Steel (AKS) received confirmation of clearance from the Mexican Competition Commission.
Gold miner stocks surged Friday toward a 5 1/ 2- month high, as growing worries about how the coronavirus outbreak will impact the U.S. economy send gold prices surging toward 7- year highs. The VanEck Vectors Gold Miners ETF jumped 2.8% in morning trading, with 36 of 48 components trading higher. The put the ETF on track for the highest close since Sept. 4. Among the more-active U.S.-listed components, shares of Harmony Gold Mining Co. (HMY) shot up 9.7%, AngloGold Ashanti Ltd. (AU) soared 11.1%...
LONDON, Feb. 21, 2020 As of 19 February, the outbreak of coronavirus Covid-19 has killed more than 2,000 people, infected over 75,000 others, and put millions in self-isolation. Aside from the human tragedy, the virus poses a real threat to the Chinese economy. The Chinese automotive industry, which was already struggling in 2019, will be hit hard by Covid-19.
Gold futures surpassed $1,600 an ounce on Tuesday and analysts believe the precious metal has the fuel it needs to climb to its highest level in more than seven years. Gold's big move on Tuesday "isn't due to worries over a greater economic fallout from the coronavirus, but rather in anticipation of the flood of central bank stimulus that is all but guaranteed by the effects to date," said Brien Lundin, editor of Gold Newsletter. On Tuesday, the April gold futures contract rallied by...
Trade-off studies reduce initial capital from $194.0M to $132.9M for the Dark Star and Pinion gold oxide deposits Gold Standard Ventures Corp. (GSV) today announced positive results from the Updated South Railroad Pre-Feasibility Study on its 100%-owned/controlled Railroad-Pinion project in Nevadas Carlin Trend, which show significant improvements compared to the first generation PFS released on Se...
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