TSX rallies on commodities

Toronto's main stock index was up more than 1 percent at midday on Friday as commodity prices rose on optimism that Italy would pass an austerity package that would calm fears about Europe's debt crisis.

Q+A: How Chinese traders use commodities for cash

After a series of tightening measures by China's central bank choked off bank loans to small- and medium-sized companies (SMEs), many resorted to importing copper and other commodities as a way to get cheap loans.

Zambia doubles mine royalties to fund big budget

Zambia's new government unveiled an expansive 2012 budget on Friday, with big increases in social spending and farming subsidies to be paid for by a rise in mineral royalties and a debut $500 million Eurobond.

Peru's Government Warns Violent Anti-Mine Protesters

Peru said on Friday that it will crack down on violent anti-mining protesters after clashes with police injured 40 people, the first skirmishes since President Ollanta Humala took office vowing to defuse conflicts over natural resources.

Asian Markets Post Gains

Asian shares rebounded on Friday and the euro clawed higher, with European stocks also expected to make gains after brighter corporate news lifted U.S. stocks and debt-laden Italy was able to fund itself at a bond auction.

Asian Markets Rise, Following U.S. Gains

Asian shares rebounded Friday and the euro clawed higher, with European stocks also expected to make gains after brighter corporate news lifted U.S. stocks and debt-laden Italy was able to fund itself at a bond auction.

Zambia govt set to unveil pro-poor budget

Zambian finance minister Alexander Chikwanda is expected to unveil a pro-poor budget on Friday, reflecting the shift in political priorities in Africa's biggest copper producer since opposition leader Michael Sata's September election upset.

Gold ETPs Steady in October - Report

Investors stuck with gold exchange-traded products (ETPs) in October, but most other commodities ETPs saw outflows as investors remained cautious about the outlook for economic growth.

Asian Stocks Sink on Italian Debt Fears

Asian stocks fell sharply Thursday after soaring Italian borrowing costs stoked fears the debt crisis in the euro zone's third biggest economy will overwhelm its financial defenses, raising the risk of a break-up of the currency area.

Power cut hits Zambia's Copper Belt

A four-hour power cut hit Zambia's capital and main mining region on Wednesday, although it was not clear what if any impact there was on output from Africa's biggest copper producer.

Peaceful Demonstration at Newmont Mining Site in Peru

A one-day protest by communities in the northern region of Cajamarca on Wednesday against Newmont's $4.8 billion Conga gold project was peaceful and did not hurt mining operations, the government and the company said.


TSX ''stars align'' as resources, banks rise

TSX may open lower on Italian debt worries

Toronto's main stock index looked set to open lower on Wednesday, hurt by weaker commodity prices as doubts about Italy's ability to tackle its debt problems persisted even after Prime Minister Silvio Berlusconi pledged to resign.
Grasberg mine

Grasberg Miners Back Down on Pay Demand

Freeport McMoRan Copper & Gold Inc's union in Indonesia will consider almost halving its pay demand if the firm agrees an extra pay hike when workers are promoted, the union said on Tuesday, taking the near two-month strike a step towards resolution.
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MF Global fallout slows London Metal Exchange trade

Trading on the London Metal Exchange was slow on Monday partly because positions of the British unit of MF Global had not been transferred to new brokers a week after the U.S. firm filed for bankruptcy protection, traders said.
Kazakhstan Pres. Nazarbayev

Kazakhstan to Build a Third Gold Refinery

Kazakhstan plans to begin construction of a third gold refinery next year to process an expected increase in volumes of the precious metal, the country's Industry Ministry said on Monday.
A warehouse contracted out by Goldman Sachs warehouse subsidiary Metro International Trade Services to hold metals is seen in Detroit in this photo taken July 12, 2011.

Goldman's New Money Machine: Warehouses

In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.