India Gold Futures Up, Silver Down

India gold futures rose by more than half a percent on Wednesday to hit their highest level in two weeks on firm global leads fanned by a weaker rupee at home.

Chile's Antofagasta Profit Jumps 28%

Chilean miner Antofagasta posted a 28 percent rise in nine-month profit, lifted by improved production and an increase in gold sales that helped offset bad weather and an accountancy hit after copper prices fell steeply in the third quarter.

Ecuador near Approving Gold Projects

Ecuador's President Rafael Correa says his government is within days of signing contracts with mining companies set to develop large copper and gold projects in the mineral-rich Andean nation.

Austrian Banks Likely Next Domino in European Debt Crisis

The Austrian banking system is on fire: getting singed not only by the heat of the Eurozone sovereign debt crisis, but also by the immolation of an Eastern European asset bubble the banks had been underwriting for a decade. Stumbling, contradictory guidance from the management of several banks has not helped either. And a stalling Austrian economy is only likely to make things worse

Minmetals extends Anvil offer to resolve Congo dispute

Chinese group Minmetals Resources has extended its $1.3 billion takeover offer for Africa-focused Anvil Mining to December 9, to allow more time to resolve a dispute over contracts with Congo which threatens to scupper the whole deal.

Freeport-McMoRan, Indonesian Union in Wage Talks

Freeport McMoRan Copper & Gold and its Indonesian union are discussing a possible pay deal to end a three-month strike that has crippled output from the world's second biggest copper mine, which would double pay for some skilled workers.

Global Stocks Hit 6-Week Low

World stocks hit their lowest in six weeks on Wednesday and crude prices fell after and manufacturing in regional heavyweight Germany contracted for a second straight month in November, and at a faster rate, as export demand slumped.

JP Morgan to buy MF Global stake in LME: sources

J.P. Morgan will soon announce it has bought a 4.7 percent stake in the London Metal Exchange from defunct U.S. brokerage MF Global, two people familiar with the situation said, making it the exchange's largest shareholder.

Magma Metals to Spin Off Aussie Gold Projects

Mining company Magma Metals Ltd said it plans to spin off its West Australian gold projects into a new exploration company, to focus on its platinum-palladium-copper-nickel project in Ontario.

Anglo Asian Mining Sees Gosha Mine Output by '13

Anglo Asian Mining plans to produce first gold from the Gosha mine in Azerbaijan in the first half of 2013 after the successful launch of production at the neighbouring Gedabek mine, the company said on Wednesday.

TSX may edge up, helped by commodity recovery

Canadian stocks looked set to open slightly higher on Tuesday, in line with stronger commodity prices, though there were signs the respite from worries over U.S. and European government debt could be temporary.

Asian Shares Fall After U.S. Deficit Deadlock

Asian shares edged down Tuesday as fears about the ability of politicians on either side of the Atlantic to tackle huge debt burdens sapped investors' confidence in the outlook for Western economies.


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TSX falls as euro zone fears hit miners, banks

Toronto's main stock market index closed lower on Wednesday as a new wave of fears about Europe's debt crisis hurt miners and banking shares, offsetting gains in the oil and gas sector.
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Novagold Shares Soar on Asset Sale Possibility

Shares of Novagold rose 13.4 percent on Wednesday morning after the mining exploration company said it is exploring a possible sale of its 50 percent stake in the big Galore Creek copper/gold project in northwestern British Columbia.
TSX flat as weak golds outweigh stronger banks

TSX may open lower as Europe rattles markets

Canadian stocks looked set to open lower on Wednesday along with commodities on investor fear of contagion from the weakest debt-ridden euro zone economies such as Greece into bigger ones such as Italy, Spain and even France.