Mining

On Monday, the leftist Roberto 'Sanchez' was closing in on conservative Keiko?Fujimori in Peru’s presidential race. This sent markets and mining stocks lower as the official counting continued into its second day. Fujimori has lost ground to Sanchez after 93% of the votes have been counted. Sanchez has gained ground in Peru's rural areas as the votes continue to be counted. Sanchez has promised a major overhaul of Peru's economy, which has proven resilient despite the political turmoil in the country. Shares of Peruvian firms listed in the United States are down. Miner Buenaventura dropped 3% while?Credicorp fell 4.8%. Intercorp...

The mining firm Sinda filed for a U.S. IPO on Friday, marking billionaire Thomas Kaplan's'second attempt' to enter the public markets, following Sunshine Silver's listing a 'day earlier', as 'interest in IPOs' rebounded. The filing did not reveal the terms of?the?offering. The U.S. IPO Market exploded in 2026. A variety of sectors were eager to list and take advantage of the excitement among investors for new listings. Elon Musk’s SpaceX will?start trading in New York in what is expected to be the largest IPO ever. Anthropic, a leading AI company, also filed a confidential application to go public last week....

Five sources familiar with the matter have confirmed that 'Cargill' is in discussions to sell its metals division to Macquarie Group, as a global trading house wants to concentrate on its core operations of food and agriculture. The five sources all spoke under condition of anonymity as the sale had not yet been announced. They were also not authorized to speak to media. They didn't disclose any further details about the discussions, which may not result in a deal. Cargill did not respond to requests for comments via phone and email. Macquarie has declined to comment. Cargill's metals unit in...

Gold prices dropped on Friday and were set to?for an overall loss? as tensions in Middle 'East tempered?hopes of a U.S. - Iran peace deal amid fears about rising inflation and rate hikes. As of 0548 GMT, spot gold was down by 0.6%, at $4,445.51 an ounce. The price of gold has dropped about 2% in the last week. U.S. Gold Futures for August Delivery fell by 0.7% to $4471.70. Israel has said that it will not withdraw its troops from Lebanon, despite the rejection of a ceasefire by Hezbollah's?militia. This undermines President Donald Trump’s efforts to stop fighting in...

Gold prices rose more than 1% Thursday, as oil prices fell?on the back of optimism about a possible?end to Iran conflict. This caused the dollar to rise and bond yields to drop. As of 1:41 pm EDT (1741 GMT), spot gold was up by 1% to $4,476.85 an ounce. U.S. Gold Futures for August Delivery settled 0.9% higher at $4,505. Independent metals trader Tai Wong says that reports of a ceasefire agreement between?Israel? and Lebanon? have pushed the dollar and bond yields up, which has helped gold to hold above?the 200-day moving averge. Israel and Lebanon announced late on Wednesday...

Gold prices rose more than 1% on Thursday, as oil prices fell due to optimism about a possible end to the Iran Conflict. This led to a fall in bond yields and pressured the dollar. As of 9:05 am EDT (1305 GMT), spot gold was up by 1.7% to $4,505.35 an ounce. U.S. Gold futures for August delivered gained 1.5%, to $4,532.80. The dollar and bond yields have been pushed up by reports of a?deal for a ceasefire between Israel and Lebanon, according to independent metals trader Tai Wong. This has helped gold hold just above the 200-day moving averge....

Gold prices grew on Thursday as a result of lower 'crude oil' prices and a weakened dollar, with investors assessing renewed expectations regarding a U.S.-Israeli resolution to their war against Iran. As of 0559 GMT, spot gold was up by 0.8% to $4,468.84 an ounce. U.S. gold for August delivery rose 0.7% to $4495.70. Dollar eased making greenback bullion prices more affordable for holders other currencies. Gold's gains are still heavily dependent on oil and the dollar. It only rises when they retreat, so it is highly dependent on the positive U.S. - Iran headlines to sustain any momentum," said...

'Sunshine Silver Mining & Refining Company' raised $270m in its U.S. Initial Public Offering on Wednesday. It joined a growing number of 'companies rushing for new listings to capitalize on a resurgent investor enthusiasm. The Kellogg company, based in Idaho, sold 20,000,000 shares at $13.50 each, the low end of their indicated range. This move coincides with a surge in IPO activity in the United States?in 2026. High-profile names like Elon Musk's SpaceX, and AI giant Anthropic are preparing to make their debuts in the coming days. CopperTech Metals, a mining firm that filed for a New York IPO on...

According to a White House spokesperson, U.S. president Donald Trump plans to use Cold War national defense powers in order to send $700 million towards coal plants. The official said that Trump could announce on Thursday he would invoke the Defense Production Act of 1950, which grants presidents broad?authority to national security-related industries. He will upgrade more than 12 coal power plants and build a massive West Coast Coal Export Terminal, as well as match corporate funds for the construction of new power plants. The person who spoke under condition of anonymity did not want to "preempt" the President's announcement...

?Gold prices fell on Wednesday as a result of a stronger dollar, and rising oil prices. The conflict in the Middle East continued to dampen hopes for a quick resolution of the U.S. - Iran conflict. By 1128 GMT, spot gold had fallen 0.5% to $4463.74 an ounce. U.S. Gold Futures for August Delivery fell 0.6% to $4492.00. Gulf hostilities flared up again on Wednesday as an Iranian missile attacked Kuwait's airport, and the U.S. Military carried out strikes near the Strait of Hormuz. Diplomacy between Washington, Tehran and Tehran made little progress. Due to the renewed conflict in the...

The 'dollar' strengthened on Wednesday, and oil prices rose as the conflict in the Middle East continued. This dimmed the hopes of a quick resolution to the U.S. - Iran conflict. By 0922 GMT, spot gold had fallen 0.8% to $4449.19 an ounce. U.S. Gold Futures for August Delivery fell 0.9% to $4478.40. On Wednesday, Gulf hostilities erupted again, with an Iranian missile attack damaging Kuwait’s airport, and U.S. strikes near the Strait of Hormuz. Diplomacy between Washington, D.C., and Tehran had made little progress. Due to the renewed conflict in the Middle East, gold is under pressure. Oil prices...

The Finnish?elevator manufacturer Kone announced on Wednesday that its shareholders had approved the planned $34 billion purchase of German rival TK Elevator. This will create the largest lift group in the world. LSEG data shows that the deal announced with Advent International and Cinven in April is one of Europe's?"biggest takeovers" in recent years, and it is also the largest private equity sale in Europe since records began in 1980. Kone said shareholders who controlled 74% of the voting power pre-committed themselves to support the deal. After the shareholders meeting, CEO Philippe Delorme spoke at a press briefing. "Now we...

London copper prices remained at a one-week low on Monday due to weaker Chinese 'prices, and expectations that the Federal Reserve will be influenced by strong U.S. job data and higher oil prices. The benchmark three-month copper price on the London Metal Exchange rose 0.19%, to $13,545 per metric ton at 0710 GMT. The LME copper fell to its lowest level since May 28 due to a rising dollar, and fears of inflation. Industrial metals are more dependent on economic growth as a result of higher?interest rates. The official data revealed that the U.S. added 172,000 new jobs in May....

London copper was near its one-week lows Monday due to a combination of 'weaker Chinese metal prices' and a growing expectation that the Federal Reserve will be pushed towards rate hikes by strong U.S. job data and higher oil costs. Benchmark 'three-month copper' on the London Metal Exchange rose 0.38% at $13,570.5 per metric ton as of 0331 GMT. LME copper fell to its lowest level since May 28 due to a rising dollar, and inflation fears. Industrial metals are more dependent on economic growth, so higher interest rates can dampen their prospects. Official data showed that the U.S. economy...

Iron ore prices are headed for a fourth consecutive weekly loss even though they were mixed on Friday as declining margins for steelmakers' in the world's largest consumer, China, curbed buying appetite for this key ingredient. The most-traded contract for iron ore on China's Dalian Commodity Exchange closed daytime trading down 0.91% to 766 yuan (113.07 dollars) per metric ton. This marked a 2.1% weekly drop. The contract reached its lowest level in over a year at 760.5 Yuan during the session. As of 813 GMT, the benchmark July iron ore traded on Singapore Exchange was trading at $101.9 per?ton....

Senior government officials revealed on Friday that major miners and their representatives have asked Canberra to help them push back against China's attempts to get better terms for their iron ore. They also raised the possibility of a single selling desk, Australia's largest commodity export. China Mineral Resources Group, the state-owned iron ore buyer in China, has used increasingly aggressive tactics to gain better deals for its steel mills and to consolidate its position on the $132 billion market by sea. CMRG had blacklisted BHP's Iron Ore for 7 months during protracted contract negotiations. CMRG also warned some steelmakers to...

Gold demand in India was subdued as buyers were on the sidelines because of?volatile overseas prices. Premiums?in China also eased slightly. On Friday, the price of domestic gold was around 158.400 rupees for 10 grams. Dealers quoted discounts This week you can save up to $87 per ounce on official domestic prices, including 15% import duty and 3% sales tax. Last week, you could save up to $106 per ounce. The wedding season is coming to an end. The retail demand is continuing to moderate and jewellery stores are reporting lower footfall in the country, said a Mumbai bullion dealer...

Iron ore prices fell on Thursday, recording their largest daily loss in a period of 'nearly 2 months. This was due to rising concerns over demand from China, the top steel consumer. Steel margins are shrinking and steel consumption is weakening amid high input costs. The largest iron ore contract traded on China's Dalian Commodity Exchange ended daytime trading down 1.85%. This is the biggest daily loss since the 9th of April. It closed at 767.5 Yuan ($113.32), the lowest level since the 16th of April. As of 0800 GMT, the benchmark July 'iron ore' on the Singapore Exchange fell...

Iron ore prices continued to fall on Thursday, reaching a 'lowest level in over six weeks.' This was due to rising concerns regarding demand from 'China, the worlds largest steel consumer. Iron ore, the most traded contract on China's Dalian Commodity Exchange(DCE), fell by 0.96% at 0327 GMT to 774.5 Yuan ($114.32) per metric ton. This was its lowest level since April 20, As of 0317 GMT the benchmark?July Iron Ore traded on the Singapore Exchange had fallen 0.93% to $102.7 per tonne, after having hit its lowest level since April 14, at $102.5. Analysts said that demand for iron...

The copper price?retreated? on Wednesday, after renewed hostilities in Iran's?war undermined the optimism of an imminent resolution and boosted the?dollar. However, the prospect of U.S. Tariffs have limited the downside. Benchmark 'three-month copper at the London Metal Exchange fell 0.9% to $13,914 per metric tonne by 0930 GMT. In the previous session it had reached its highest level in over two weeks, with a 1.5% gain. Gulf hostilities erupted on Wednesday, as diplomacy between Washington & Tehran showed little progress. The markets have moved to a more risk-averse environment as a result of the exchange of fire. Oil prices rose...

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...