Gold slumps on scepticism of EU meeting

Gold eased on Wednesday extending sharp losses made in the previous session as investors were sceptical that an informal European Union meeting later in the day would yield steps to help solve the region's debt crisis. Gold fell to as low as $1...

Anglo American to open London, Singapore sales hubs

Global miner Anglo American is opening a new commercial hub in Singapore on July 1 and also in London, a move that reflects the shift in the company's sales focus to Asia. Tom Bell, who has been with Anglo's London-based thermal coal marketing...

Gold hits 4-1/2 month low on Greece turmoil

Gold extended losses on Wednesday to slip to its weakest level since late December after efforts to form a new government in Greece collapsed, prompting investors to cut their exposure to the precious metal. Bullion has this year been moving in...

London copper slips to 4-month low on Greece woes

London copper fell to a four-month low on Wednesday, extending losses to a fourth consecutive session, as investors continued to shy away from riskier assets with the Greek political malaise threatening to plunge Europe into a deeper financial...

Copper hits near 1-month low on China doubts

London copper fell to near one-month lows on Monday, giving up early gains, as investors worried about slowing growth in top copper consumer China, which some think may need more than the unsurprising weekend cut in banks' cash reserves to...

Vale targets China firms over mega ship standoff

Brazil's Vale , the world's largest iron-ore producer, has stopped hiring vessels from some Chinese shipping firms in retaliation for Beijing's efforts to keep the miner's huge ships out of the country, traders and industry sources said. Chinese...

Promising start for China iron-ore trading platform

An Australian cargo was among three sold via China's first physical iron-ore platform on Tuesday, a promising start for the electronic trading system, although traders say volumes must rise before the bourse can create price benchmarks. The...

China eyes upper hand in pricing with iron-ore platform

China's first physical iron-ore trading platform is set to debut on Tuesday, helping the world's biggest buyer of the commodity boost its price-setting influence. The timing looks perfect. Nearly all iron-ore sold to China is now based on spot...

Australian billionaire says to build nickel freight fleet

Australian businessman Clive Palmer on Friday said he plans to build and operate a fleet of four freighters to import nickel ore to a nickel refining plant purchased from BHP Billiton . The decision by the billionaire, who made much of his...

Cliffs Q1 profit down 11% as mining, transport costs spike

Iron-ore and coal producer Cliffs Natural Resources on Wednesday reported an 11.1% drop in profit for the first quarter to $376-million, or $2.63 a share. This was the result of increased mining and transportation costs, which spiked by 85% to...

Singapore’s LionGold launches offer for Castlemaine

Gold miner Castlemaine Goldfields has become the latest takeover target, with Singapore’s LionGold launching a two-for-nine share off-market offer, valuing the Australian firm at A$55.3-million. The bid valued Castlemaine shares at 18.4c...

China, eurozone woes fuel risk aversion

Commodities slid on Monday, with copper hitting fresh three-month lows and oil and grains also in the red, as worries about the global economy from China to Europe pushed investors out of risky assets. Gold, otherwise a safe haven, fell too, as...