Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Swedish mining gear maker Sandvik on Tuesday said it received an order worth 650 million Swedish crowns ($62.76 million) from Canadian mining company Torex Gold Resources.
The order includes 15 battery-electric vehicles and 20 conventional internal combustion engine equipment units.
The order is Sandvik’s first for battery-electric vehicles in Latin America and its third-largest battery-electric mining fleet order to date, the company said.
Equipment deliveries are planned to begin in the third quarter this year, and continue into the fourth quarter of 2025, Sandvik said.
Torex will use the fleet for its Media Luna underground deposit in Mexico, which it expects to bring into commercial production in early 2025,the company added.
The battery-electric vehicles include loaders and twin-boom jumbos, and the conventional equipment ordered comprises loaders, trucks, bolters, production drills and a raiseborer.
($1 = 10.3566 Swedish crowns)
(By Louise Breusch Rasmussen; Editing by Essi Lehto)
Comments
Thomas Aboagye
Am a cable bolter operator at Barrick company at Mali l love to use sandvik machine.