Mining

Newmont beat analysts' estimates for the second quarter profit on Thursday as higher gold prices helped to offset lower production. Gold prices have been rising on the back of a steady demand for safe-haven assets and hopes that U.S. rates will be cut. However, a stronger dollar as well as inflation fears fuelled by oil price volatility during the Iran War has?limited gains. Gold prices that are higher usually boost revenue and margins for miners. Prices for 'the yellow metal' averaged $4,606.41 per ounce during the second quarter 2026. This is up 37% from one year ago. Newmont's average quarterly...

The price of gold fell?on Friday, as an intensifying conflict in the Middle East drove up oil and fueled investor fears that inflationary pressures might push the U.S. Federal Reserve into raising interest rates this year. Spot gold fell 1.2% at 1215 GMT to $4,079.50 an ounce, after reaching its highest level in over a month on Wednesday, $4,165.87 per ounce. U.S. Gold Futures for August Delivery fell 1.7% to $4.082.80. Nikos Tzabouras is a senior market analyst at Jefferies owned Tradu.com. Tzabouras said that the geopolitical escalation and higher oil prices, as well as the outlook for higher rates,...

Cemex, a Mexican cement producer, increased its core earnings expectation for 2026 on Thursday as it continues to benefit from a restructuring program and'solid sales growth. Cemex's net profit increased by 9% to $347m in the second quarter, and its core earnings, measured by EBITDA, (earnings excluding interest, taxes, depreciation, and amortisation), jumped up 24% to reach $1.02b. Cemex, one of the largest cement producers in the world, has raised its EBITDA forecast for 2026 from the previous guidance that growth would be in the high single digits. The results beat the average analyst?estimate $937.4 millions. Sales rose 12% to...

Gold prices fell on Thursday as the Middle East conflict intensified, driving up oil costs and supporting investor concerns about inflationary pressures that could force the U.S. Federal Reserve into raising interest rates this year. Spot gold fell 0.9% by 8:33 GMT to $4,091.24 an ounce, after reaching its highest level since 7 July at $4,165.87 an ounce on Wednesday. U.S. gold futures for delivery in August fell 1.4% to $4093.80. Nikos Tzabouras is a senior market analyst at Jefferies owned Tradu.com. Tzabouras said that the geopolitical escalation and higher oil prices, as well as the outlook for higher rates,...

Gold reached a two-week high on Wednesday, boosted by a softer dollar, and technical 'buying.' Markets weighed Middle East tensions, and awaited new interest rate signals from the U.S. Federal Reserve. Gold spot rose 1.7% by 1:35 pm EDT (1641 GMT) to $4,145.24 an ounce, after hitting its highest level in July at $4,165.87 earlier that day. U.S. Gold Futures for August delivery settled 1.9% higher, at $41561.90. Gold exploded higher and punched above $4,140, as a lower dollar and dip buyers instilled fresh inspiration to bulls, said Lukman otunuga senior research analyst at FXTM. He added that "the underlying...

Gold reached a two-week high on Wednesday. Supported by technical 'buying' and safe-haven demand as investors watched diplomatic efforts to ease the Middle East conflict, and prepared for the U.S. Federal Reserve Meeting next week for clues about interest rate outlook. Gold spot rose by 1.1% at 1200 GMT to $4,121.90 an ounce, after hitting its highest level since 7th July earlier in the day. ?U.S. Gold futures for August deliveries rose 1.3% to $4 128.00. Safe-haven demand, and the hope that the ongoing diplomatic 'efforts' between the U.S., and Iran, could still lead to a lowering of oil prices,...

NOVAGOLD Resources announced 'on Wednesday that it would acquire 'the shares in Donlin Gold that it doesn't already own from Paulson Advisory in a stock deal, creating a gold producer with 4.2 billion dollars in value. Gold prices have risen to record levels, boosting cash flow and improving access to capital for miners. This has encouraged them to increase their reserves of precious metals - as well as their presence in safe mining areas such Canada and the United States. Upon the completion of the deal, a new company, NovaGold Corporation, will be formed. NOVAGOLD shareholders will own nearly 65%,...

After the company narrowly missed its estimates for second-quarter core profit, GE Vernova said on Wednesday that global tariffs will increase 'its costs between $100 and $200 million by '2026. Tariffs are a major burden on manufacturers, but contract protections as well as some cost recovery measures have contributed to the expected increase in costs. GE Vernova's shares fell 8% during premarket trading. According to LSEG, the Cambridge, Massachusetts-based firm reported adjusted core earnings for the quarter of $1.25 billion, which was below analysts' expectations of $1.28 million. The wind business 'continued to lag behind its faster-growing Power and Electrification...

Gold rose to a two-week high on Wednesday as technical buying boosted the price. Investors assessed the escalating conflict in the Middle East and were awaiting the U.S. Federal Reserve's meeting next week, which will provide clues about the interest rate outlook. Gold spot rose 1.3% by 0511 GMT to $4,129.43 an ounce, after hitting its highest level since July 7 earlier that day. U.S. Gold Futures for August Delivery jumped?1.4% at $4,134.50. As tensions escalate in the Middle East, oil prices and inflation fears rise. This has led to expectations of interest rate hikes which caused gold to drop...

The mining?and transport conglomerate Grupo México announced on Tuesday that its second-quarter net profit had risen?nearly 79 percent compared to a year ago, thanks primarily to higher prices. According to a filing, the net profit of the group, which is a major copper producer, was $2.20 billion on revenues that rose 35% to $5.71 Billion. Analysts polled by LSEG predicted a net profit of $1.66 billion, but revenues came in slightly higher than the $5.65 estimate. The company produced 257.537 metric tons of copper in the first quarter. This is down 3.7% compared to the same period last year. Asarco...

President Donald Trump signed an executive directive on Monday that makes it more difficult for U.S. Defense contractors to get waivers to purchase critical minerals and materials from China or other banned foreign suppliers. This is the latest attempt by the Trump administration to reduce its reliance on overseas supply chain for weapons production. Defense contractors must now do more than just show that a Chinese supplier offers the cheapest or easiest option. Companies requesting a waiver must prove that they have looked for alternatives, disclosed the origins of materials and provided a plan on how to reduce their reliance...

The EU's antitrust regulators charged on Monday a group of construction chemical companies and trade associations with participating in a cartel from 2021 to 2022. They could face heavy fines. The European Commission made the accusations via a "statement of oppositions" following dawn raids in several EU member countries against unnamed firms in?2023. The Commission, acting as the EU's competition enforcer, stated that the companies and associations had colluded to raise prices in the supply chain of chemicals for cement, mortar and concrete between 2021-2022, affecting construction costs. Cemex was charged along with Chryso and Mapei. Other companies included Master...

The price of copper is expected to rise despite the fact that it has fallen from its mid-week peak. An escalation in the Middle East conflict will increase inflation concerns and weigh on the macroeconomic outlook for the global economy. Benchmark?copper for three months on the London Metal Exchange remained stable, adding 0.11% to $13,609.5 per metric tonne by 0300 GMT. The Shanghai Futures Exchange's most traded copper contract fell 1.4% to 104,530 Yuan ($15,426.51) per metric ton. Prices have risen 0.63% at the LME, and by 1.39% at the SHFE, since the beginning of the week. However, they are...

Investors weighed the escalating tensions in the region and an array of corporate earnings announcements as they viewed major stock markets in Gulf in early trade on Thursday. The?U.S. The?U.S. The Iranian Revolutionary Guards reported that an oil tanker was set ablaze after an explosion occurred while trying to navigate what they described as a "mined" route near the coast of Oman in the southern Strait of Hormuz. Two other tankers returned. Saudi Arabia's benchmark index fell 0.1% due to a 0.9% drop in the Saudi National Bank, the largest lender of the country. However, ?oil major Saudi Aramco gained...

Guinea's bauxite exports rose 15% in the first half if?2026 to a new record high, according to official data. This was due to strong Chinese demand, despite increasing pressure on smaller producers because of rising fuel and shipping costs. Bauxite feedstock is used to make alumina. Alumina is an important ingredient in aluminum, which can be found in many industries, including transport, construction, and packaging. Guinea, which is the largest bauxite supplier in the world, exported 114.8 million tons between January and the end of June. This was up from 99.8 millions tons a year ago, according to data released...

South Korean shares closed slightly higher on Tuesday, after a sharp rise in the early going. However, caution before key U.S. technology earnings and chip earnings underscored the market's reliance on heavyweight chipmakers. The benchmark KOSPI Index settled 0.7% higher, at 6,797.7, after rising 6.2% during early trading. This was largely due to a 9% increase in AI memory chips maker SK Hynix. SK Hynix reversed its course and ended marginally lower, while Samsung Electronics finished slightly higher. The'sharp swings' highlighted the dominance and power of Samsung Electronics, SK Hynix and other companies that together account for more than half...

Prices of copper?rose on Monday due to a surge in buying sparked by a decline in inventories, and signs of strong demand from China - the world's largest consumer. Benchmark copper on the London Metal Exchange was?up?0.5% to $13,593.5 per metric ton as of 0937 GMT. Import data showed that China's refined copper imports reached a nine-month peak in June, according to traders. The metal is used in construction and power industries. The decline in domestic supply caused by smelter repairs is one of the reasons for the higher imports. The Yangshan Copper Premium is a gauge of China’s appetite...

Copper prices rose slightly on Monday. This was mainly due to a decline in inventories, and a disappointing supply from the top producer, Chile, while sluggish demand conditions weighed. Benchmark three-month Copper on the London Metal Exchange increased?0.06% by?0710 GMT to $13,533.5 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.2%, to 104.020 yuan (15,361.44) per ton. Daniel Hynes said that the losses were limited due to ongoing supply concerns. BHP has lowered its copper production forecast for the year after a mechanical breakdown at a South Australian mining site and lower ore grades in Chile....

Rescue teams in southwest China used explosives to blast through heavy boulders that were blocking their efforts to find 34 people who had been reported as?missing? for three days following a landslide in an area renowned for its natural beauty. China is one of the world's most prone to landslides. Eight people died in a disaster that occurred in Penghui, a county located 270 kilometers (168 miles), away from the urban sprawl of Chongqing. CCTV showed images of a huge boulder being shattered in Monday's blasting operations. The broadcaster added that the mission had entered a "deep-rescue phase", but did...

Prices of copper edged up on Monday due to a?shrinking inventory and supply risk, but uncertainty about the?demand outlook limited gains. By 0300 GMT, the benchmark three-month copper contract on the London Metal Exchange had risen 0.16% to $13,546.5 per metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.39%, to 104210 yuan (US$15,389.50). Daniel Hynes said that the growth of copper production in Chile, the world's largest producer, has been "elusive" so far, according to a note by Daniel Hynes senior commodity strategist with ANZ. South32, an Australian mining company, reported lower fourth quarter copper production, falling...

Imports of aluminium, both unwrought and fabricated, fell?17.4% from June 2012 to June 2013, according to?customs figures released on Saturday. This was due to an unfavorable import arbitrage. According to the General Administration of Customs, volume?dropped?to 250,000 metric tons. Imports in the first half 2026 totaled 1.88 million tonnes, down 5.1% compared to a year ago. This data includes both primary metals and alloyed, unwrought aluminium. Import arbitrage was unfavorable, making overseas aluminium costlier than locally produced metal. Traders said that the London Metal Exchange's higher prices and physical premiums increased losses for Chinese importers in the second quarter. Early...

The price of copper fell on Friday as equity markets declined. Rising tensions in the Middle East war fueled inflation fears and cast a dark shadow over the outlook for industrial metals. Benchmark 'three-month copper' on the London?Metal Exchange fell 1.3% to $13,419.50 per metric ton at 0930 GMT after rising 0.1% on Friday. The metal, which is widely used in construction, manufacturing and power generation, was expected to finish the week at a loss of 0.5%. Oil prices have risen 12.7% this week due to the escalation of fighting between the U.S. and Iran. Fuel costs are also increasing...

This week, gold?discounts?in India increased?to an all-time high?as 'weak jewellery demand kept buyers away and the hope of lower prices kept them on the sidelines. Premiums in China remained largely unchanged amid muted retail sales. Indian dealers quoted discounts Up to $45 per ounce, including 15% import duty and 3% in sales tax, over the official domestic price, compared to a discount of up $19 last weekend. Retail jewellery demand is weak. Harshad Ajmera, of JJ Gold House in Kolkata, said that most customers just exchange old jewellery for new. "Jewellers don't buy much fresh gold" because they are only...

Lead is everywhere. The London Metal Exchange's (LME) battery metal stocks jumped by 58% in just two days this week thanks to the warranting 171,175 tons of metric tonnes at warehouses in Singapore. It is the exchange's duty to be happy. The exchange reduced listing fees between April 2024 to December 2025 for smaller lead producers in order to "enhance the liquidity" of its?lead contracts. Evidently, it worked. LME's lead stock has risen to?almost 500 tons in the last few months. This includes large quantities of lead that are in?off-warrant? storage. Metals that are no longer in demand have become...