The stock was down more than 7% to $2.50 at 11:30 am ET, as the company added that most of the 540 Northshore employees in Silver Bay, Minnesota, will be laid off, maintenance crews excepted, because of high inventory...
Sumitomo Metal Mining is looking to snap up stakes in copper and gold mines, taking advantage of its sound finances and a slump in commodity prices to bolster future growth, its president said. "We have a perfect opportunity now...
It's been a brutal November on copper markets with a only one up day of trading since the start of the month. Just over the last week the price has fallen more than 7%. In New York on Wednesday...
Indonesia probing allegations of extortion to Freeport-McMoRan by senior officialsFreeport McMoRan Copper and Gold's Grasberg mine is the world's largest gold mine and third largest copper mine. Indonesia has began investigating claims that senior officials demanded to be granted...
Caterpillar sales down again, almost three straight yearsThe biggest declines in sales were in construction in Latin America (-41%) and in the resources industry in Asia (-37%). Caterpillar (NYSE:CAT), the world’s No.1 heavy machinery maker, put another nail in...
In the doldrumsThe once obscure Baltic Dry Shipping Index came to prominence at the start of the Chinese-led commodity supercycle around a decade ago. The London-based Baltic Exchange tracks the cost of moving commodities along more than 50 routes...
In an attempt to put the estimated 20,000 tonnes of gold households and temples on the subcontinent are hoarding to more productive use and alleviate pressure on its current account, the Indian government launched two new gold savings schemes a...
