Aluminium
Rio Tinto copper profits boosts
by Brian Turner
Rising copper prices of 18% helped push mining firm Rio Tinto profits up to £1.5 billion in 2004. The Australian mining company enjoyed rapid market growth in China and also the US, resulting in an overall rise in profits of 86%. According to the BBC report Copper boosts Rio Tinto profits: Every cent increase in [...]
Silver enjoys brief strength
by Brian Turner
Silver made a surprise high yesterday, despite a steadying dollar and flat-trading gold price. After falling to lows in December. silver was 9% in the week to $7.20 a troy ounce, gaining 24 cents in just one day’s trading. Despite the sharp moves, without a rally on gold there is little market expectation of silver [...]
IMF debt relief causes gold concerns
by Brian Turner
The US and Canada have expressed reservations about G7 proposals to sell of IMF gold stocks to cancel poor nation debt. As a consequence of the announcement, the price of gold fell to $413.50 an ounce in Asia, before rising slightly in Europe. The IMF has reserves of 3,217 tonnes of gold – around 113.5m [...]