Mining

Gold prices rose by 1% on Tuesday, boosted by lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears of rising inflation and interest rates. By 1136 GMT, spot gold had risen 1% to $4,526.7 per ounce. U.S. gold for August delivery rose 1.2% to $4,58.60. After U.S. president Donald Trump announced that talks with Iran are ongoing, oil prices dropped. Lower fuel prices reduce inflation fears and may also help to reduce bets on higher interest rates. Gold is traditionally viewed as a hedge to inflation. However, in an environment of high interest rates it loses its appeal as...

Gold prices rose by more than 1% on Tuesday as a result of lower U.S. Treasury yields. Meanwhile, oil prices fell, easing fears about higher interest rates and inflation. By 0900 GMT, spot gold had risen 1% to $4,525.72 per ounce. U.S. Gold Futures for August Delivery rose 1.1% to $4,556. Oil prices dropped after U.S. president Donald Trump announced that talks with Iran are ongoing. Lower fuel prices reduce inflation fears and bets on higher interest rates. Gold is traditionally viewed as a "hedge" against inflation. However, in an environment of high interest rates it becomes less attractive as...

Gold prices rose on Tuesday due to a decrease in Treasury yields, as well as a partial ceasefire between Hezbollah, Israel and Hezbollah. Investors awaited more details about the U.S. Iran peace talks, despite conflicting reports. By 0556 GMT, spot gold had risen 0.8% to $4,517.33 per ounce. U.S. gold for August delivery rose 0.9% to $4,47.80. GoldSilver Central's Managing Director Brian Lan said, "It appears that the ceasefire between Israel and Hezbollah has led to a slight increase in gold prices." He added that lower Treasury yields had also helped the metal. The yield on the benchmark U.S. Treasury...

Elliott Investment Management disclosed a stake in Northern Star Resources worth over A$1 Billion ($714.60 Million) on Monday. The company called for the Sydney listed miner to appoint a new 'CEO' and conduct a strategic review, including a possible sale. The activist investor from the United States cited Northern Star’s underperformance against peers, “repeated operations missteps”, seven missed outlooks in four years and “deeply inadequate disclosures when compared to senior global peers”. The Australian Financial Review reported the first stake on Monday. It said that Elliott would be among the top five shareholders of the miner. Northern Star didn't immediately...

Orla Mining announced on Monday that it had temporarily halted operations in its Camino Roco?goldmine in Zacatecas after what the company called an 'illegal work stoppage and blockade'?by unionized employees. We were unable to reach the union immediately for comment. Orla, in a press release, said that the dispute was over negotiations regarding worker productivity bonuses and profits-sharing entitlements. She added that "the work stoppage" did not comply with Mexican law including a strike notification. Orla has said that it is in discussions with the?union leadership' to resume safe operations and to return employees to work quickly. The Canadian miner...

U.S. Construction spending in April increased more than anticipated, thanks to the single-family homebuilding boom. However, rising mortgage rates due to the war with Iran continue cast a shadow on?the housing markets. Census Bureau of the Commerce Department announced?on Monday? that construction expenditures rose 0.4% following a downwardly-revised 0.2% rise in March. Economists surveyed by predicted construction spending would gain 0.2% following a previously reported rise of 0.6% in March. In April, construction spending rose 0.9% year-over-year. Spending on private construction projects increased by 0.4% in April after increasing by 0.2% the previous month. After a 0.6% increase in March,...

Gold prices fell on Monday as fresh strikes between Iran and the United States raised inflation concerns. Gold spot was down 0.7% to $4,502.89 an ounce at 08:40 am EDT (1240 GMT), after reaching a two-week peak on Friday. U.S. Gold Futures dropped 1.3% to $4.533.20. Jim Wyckoff is a market analyst for American Gold Exchange. He said that if bond yields continue to rise and rates begin to stabilize or trend downward, gold will be under pressure. As diplomatic efforts to bring an end to three months of war drag on, Iran and the United States accuse each other...

Shares of Revolution Medicines, Summit Therapeutics and Summit Therapeutics rose in premarket trading Monday after their experimental cancer treatment boosted'survival rates for patients' in late-stage clinical trials. Daraxonrasib is an experimental cancer pill that doubles survival when compared with chemotherapy. Summit's ivonescimab treatment, in collaboration with Akeso, a Chinese partner, helped lung cancer patients to live 15 percent longer than BeOne Medicines Tevimbra. On Sunday, the companies presented their data at the American Society of Clinical Oncology in Chicago. Summit's stock gained 3.6%, while Revolution's shares rose 7.3%. Summit's shares are essentially flat this year while Revolution's has almost doubled....

Summit Therapeutics shares rose up to 7% before bell ringing?after its ivonescimab treatment with China-based Akeso helped advanced lung cancer patients?live 15% longer than BeOne Medicines Tevimbra immunotherapy. Late-stage trial results revealed that in a head to head study conducted in China, patients with advanced non-small-cell lung cancer squamous who were treated with ivonescimab, chemotherapy and Tevimbra lived on average 27.9 months compared to 23.7 months when they received Tevimbra, chemotherapy and Tevimbra. Tyler Van Buren, TD Cowen's analyst, said: "This is a significant advancement in a situation?where other treatments have never found success." Ivonescimab belongs to a class of...

As renewed U.S. - Iran tensions increased, the dollar and oil price rose. This fueled fears of inflation as well as a longer-term outlook for higher interest rates. Gold spot was down by 0.8% to $4,498.89 an ounce as of 0909 GMT. It had hit a record high two weeks earlier. The yellow metal fell 0.9% in the month of May, marking its fourth consecutive monthly decline. U.S. gold futures for August delivery dropped 1.4% to $4,529.90. Dollars are now more expensive for holders of other currencies. The U.S. claimed it had struck Iranian military bases over the weekend, and...

Gold prices fell on Monday, under pressure from a stronger dollar and rising crude oil costs, as investors awaited the decision of U.S. president Donald Trump on an agreement to extend the ceasefire between Iran and Israel. As of 0306 GMT spot gold was down by 0.4%, at $4,518.09 an ounce. This is after it hit a two-week peak in the previous session. U.S. Gold futures for August delivery dropped 1% to $4,48.90. Dollars rose in value, increasing the price of greenback bullion for holders of other currencies. Tim Waterer is the chief market analyst for KCM Trade. He said...

Iran and the United States have been in talks to extend their ceasefire to begin negotiations over issues such as Tehran's nuclear programme, where Washington insists that?Iran cannot be able make a nuclear bomb. Israel and the U.S. bombed Iran in June. While a lot of its uranium-enrichment infrastructure was destroyed or badly damaged, it is believed that a significant amount of highly enriched nuclear uranium survived. This is the main concern of the United States. The biggest concern for the U.S. In a Friday post on social media, Trump stated that Iran had to agree that the enriched Uranium...

The market rose more than two weeks on Tuesday, as the?unresolved U.S. Tariff uncertainty and the tightening of supply outside the United States supported it. Middle East peace talks also remained a focus. As of 0258 GMT the benchmark?copper?three-month contract on the London Metal Exchange rose 0.32% to $13,876.50 per metric ton, its highest level since May 15. The Shanghai Futures Exchange's most traded copper contract rose 1.32%, to 106,050 Yuan ($15.682.77) per ton. The White House amended tariffs on certain copper, aluminum, and iron imports, and lowered duties on some agricultural and industrial equipment. However, the order did nothing...

China's finished exports of steel to 'India' more than doubled to their highest level in at least two years in April, causing concern amongst the steel makers in India that they would be overwhelmed by low-cost products despite tariffs. According to data provided by the Indian government, China exported around 232,000 metric tonnes of finished steel during April. It was the largest exporter of this steel into the South Asian country. This is despite the fact that?India, which is the second largest crude steel producer in terms of production, had imposed import tariffs on certain grades from December for a...

Chinese coking coal prices rose on Monday to a 19-month-high, after a provincial-level meeting about mine safety in coal-rich Shanxi heightened supply concerns caused by production halts following a fatal accident last month. According to an official WeChat post on Sunday, Shanxi, in northern China, held a meeting Saturday regarding a special campaign to correct safety risks and hidden hazards in coal mines. Officials in China's largest coal-producing hub have pledged a "zero tolerance approach" for identifying and punishing illegal acts, such as hidden underground tunnels, safety fraud, and illegal mining outside the permitted areas and layers. A fatal mine...

Chinese coking coal rose on Monday, reaching a 19-month high. A provincial-level meeting of mine safety in 'coal-rich Shanxi' reinforced the supply concerns that were stoked following production halts last month at some mines. According to an official WeChat post on Sunday, Shanxi in northern China held a meeting Saturday regarding a special campaign to correct safety risks and hidden hazards in coal mines. Officials in China's largest coal hub have pledged to take a "zero tolerance approach" and to identify and punish all illegal acts, including hidden tunnels, frauds in safety monitoring, and illegal mining outside the allowed area...

Two sources who are familiar with the matter confirmed that SAIC Motor would sell a 10% additional stake in JSW MG Motor in India. This will make JSW, the local partner, the largest shareholder in the unit. SAIC Motors' decision comes after the Chinese company struggled to expand operations and raise equity due to New Delhi investment restrictions, even though it had trimmed its ownership to 100% and brought in domestic partners including Sajjan Jindal’s JSW Group. SAIC owns a 49 percent stake in JSW MG Motor. Sources?said that SAIC will sell a stake of 10% to JSW. JSW's stake...

Viridis Mining and Minerals, an Australian rare earths mining company, is in advanced discussions with potential buyers in Europe and the U.S. regarding its Colossus Mine in Brazil's Minas Gerais state, according to CEO Rafael Moreno. He added that the company was not pursuing Chinese interests. Moreno, Viridis's president, said that the company opened its research and processing center for rare earths in Pocos De Caldas on Thursday. The project is geared towards reaching steady-state production at the end of the year 2028. Moreno said that the facility would produce the first rare earth mixed carbonate from the mine, which...

China's coal prices dropped on Wednesday, as concerns about steel demand trumped supply jitters caused by a fatal mine accident that occurred in the northern Shanxi Province. The accident had sparked a rally for two straight sessions. As heavy rains have hit southern regions, steel demand is showing signs of easing. Data from the state-backed Steel Association showed on Tuesday that China's daily crude output is expected to drop by 0.9%?from its first ten-day levels. As of 0315 GMT, the most traded coking coal contract at Dalian Commodity Exchange dropped?1.63% and was now worth $186.81 per metric ton. The DCE...

China's?weak production of steel and its robust imports of iron ore continue to contrast, and it is beginning to appear as?a structural change rather than just a temporary disruption. China, which is responsible for producing just over half the world's total steel, produced 86.63 million metric tons of steel in April. This was a 2.8% decline from the same month of 2025, and the lowest April figure since 2018. Steel production for the first four month of this year was 331.12 millions tons, down 4.1% on the same period of last year. According to official statistics, however, iron ore exports...

Analysts expect that the worst mining disaster in China's history will have a negative impact on the coal supply during the summer, when demand is usually high. Gas explosions at Liushenyu Mine in Northern?Shanxi Province killed 82 people late Friday night. Officials called for better safety oversight. President?Xi _Jinping has ordered an investigation. How much coal mining has been halted due to safety checks? According to an analysis by Mysteel analysts, as of Monday, 319,000 tons of coal per day were halted in 109 mines across Shanxi for safety inspections. This is typical after a fatal accident. Mysteel stated that...

Mineral Resources, Australia, announced on Tuesday that it had reached a 'final investment decision' with its joint venture partner Jiangxi Ganfeng Lithium to invest approximately A$490 million ($351.38 millions) into developing the Mt Marion lithium exploitation in Western Australia. The investment is a major step towards expanding the project. It will boost the supply of lithium in response to the growing global demand for electric vehicles and battery storage. MinRes stated that the 'investment, which will be spent between 2027-2028, includes A$240,000,000?for an underground pre-production facility, A$220,000,000 for underground development, and A$30,000,000?for infrastructure. Upgrades would extend mine life, and increase...

Analysts said that China would export more refined zinc in 2026 than it imports, for the first time since four years. This is due to a growing supply of the metal and a weak domestic demand. China, which produced about half of the world's Zinc last year, is also a major zinc importer. The metal is mainly used for galvanising steel. Alice Fox, commodities analyst at Macquarie Group says that net refined zinc imports will be 209,767 tonnes this year compared to 428,890 tones in 2024. According to Fox, at home, new capacity is expected to be added this year,...

Local officials announced at a press conference held late Saturday that the death toll had been revised to 82. The explosion at the Liushenyu mine in China's north province of Shanxi on Friday night killed 82 people. Initial reports from state media said that at least 90 people had been killed. Even if the number is lower, it remains China's most deadly mining accident since 2009 when a gas exploding at the Xinxing Mine, in Heilongjiang Province, killed 108. At a press conference, local officials stated that the initial death count reported by state media was incorrect. Guo Xiaofang said...