Steelmaker United States Steel Corp. Big Upgraded to “Buy” at Goldman Sachs
Mar/12/2010 | Under : Exploration - Iron Ore Mine - Steel Industry
Steelmaker United States Steel Corporation caught a big upgrade on Monday from analysts at Goldman Sachs.
The analyst raised its rating on X to “Buy” from “Neutral,” and lifted its six-month price target on the stock to $79 from $55. U.S. Steel shares had closed at $58.90 on Friday.
[Read More]
Australia Gold Output Rise : World Second-Biggest Gold Producer
Mar/10/2010 | Under : Companies - Gold Mine - Mineral Exploration
Australian gold output rose 14 percent in the fourth quarter last year, helped by Newmont Mining Corp.’s Boddington mine, confirming the country as the world’s second-biggest producer, a research group said.
Gold production in Australia rose to 62 metric tons during the three months to Dec. 31, Melbourne-based Surbiton Associates Pty said in an e-mailed statement. [Read More]
Crude Oil and Gasoline Prices Begin to Creep Up
Mar/09/2010 | Under : Companies - Crude Oil - Exploration - Natural Gas - Oil and Gas Drilling - Trade & Market
Crude oil and gasoline prices are inching up again. Optimism about the economy, new tensions in oil-producing Nigeria and reports that China intends to build up its strategic reserves lifted crude prices to around $82 on Monday, about a $10 increase in the last month.
Prices at the pump are rising, too, with the average national price for a gallon of gasoline jumping 5 cents in the last week, to just above $2.75.
[Read More]
Gold and Copper Exploration Companies Poised to Shine in 2010
Mar/08/2010 | Under : Copper Mine - Gold Mine - Stock - Trade & Market
Shares of gold and copper exploration companies are the most likely to shine in the Canadian junior mining sector this year, as large miners raise their exploration budgets and scout for promising projects.
Small-cap stocks on the TSX Venture exchange enjoyed a strong run last year with the S&P/TSX Venture Composite Index gaining more than 90 percent through the course of the year.
[Read More]
Blackrock, Global Mining Investments Prefers Global Recovery Gold, Iron Ore and Copper Markets
Mar/08/2010 | Under : Companies - Copper Mine - Gold Mine - Iron Ore Mine - Stock - Trade & Market
BlackRock-managed Global Mining Investments Ltd has a preference for copper, gold and iron ore as China leads a global recovery in commodities markets but is negative on aluminium because of oversupply, the firm’s chief said on Tuesday. [Read More]
Sumitomo Metal Mining May Keep 10 percent Copper Output Cut
Mar/05/2010 | Under : Companies - Copper Mine - Metals & Mineral - Mineral Exploration
Sumitomo Metal Mining Co., Japan’s second-biggest copper producer, may maintain a production cut of 10 percent in the year from April 1 because of lower processing fees, a spokesman said.
“We are considering keeping the output cut because of worsening terms of processing fees” to turn raw material, so- called concentrate, into refined copper, Naonobu Hayakawa, a spokesman for Sumitomo Metal Mining Co., said today by phone. “We will announce our formal production plan on April 1.”
[Read More]
Asian Stocks Decline on China Lending Concern
Mar/05/2010 | Under : Copper Mine - Gold Mine - Mineral Exploration - Stock
Asian stocks fell as China’s Industrial Bank Co. predicted slower growth in new lending, while the euro retreated on speculation the European Central Bank will delay withdrawing stimulus measures.
The MSCI Asia Pacific Index dropped 0.7 percent to 119.97 as of 5:10 p.m. in Tokyo, after a four-day, 3.3 percent climb. [Read More]
Gold Price Leverage Returns to Gold Stocks
Mar/05/2010 | Under : Companies - Gold Mine - Mineral Exploration - Stock
The gold price hovered near unchanged, consolidating after its recent five day winning streak that pushed the price of gold well above the $1,100 level it had been trading near for the past six weeks. The rally in the gold price has provided a tailwind to the gold stocks, which have also moved higher for five consecutive trading sessions. [Read More]