* STOXX 600 down 0.7 pct* Autos tumble on trade tariff fears* Siemens (NS:SIEM) and Airbus lead industrials down* Multinational clothes, luxury stocks sell off* Debenhams falls after another profit warning (Adds details, closing prices)By Helen ReidLONDON, June 19 (Reuters) - European shares extended a sell-off on Tuesday as a trade war between the United States and China escalated, with autos...Read More
Rio Tinto Aluminium CEO Alf Barrios told delegates at the Resources for Future Generations conference in Vancouver Tuesday that the trade dispute showed how deeply US-Canadian trade relations ran.Read More
Investing.com - Gold prices were modestly lower on Tuesday, pressured lower by a rising U.S. dollar while trade tensions lingered.Comex gold futures for August delivery were down 0.23% to $1,277.20 a troy ounce as of 10:08 AM ET (14:08 GMT).Trade tensions between China and the U.S. continued, as the two largest economies in the world faced a tit-for-tat over global trade tariffs.In the latest spat...Read More
Under the deal, the Hong Kong-based private equity firm will pay US$230 million for the mine, plus about US$40 million through the sale of copper stockpiled at the operation and up to US$50 million in the future depending on the performance of the copper price.The deal is expected to close by the end of the year."We are very excited by the acquisition of Cerro Colorado. It is a copper mine of scal...Read More
Newsworthy drilling results have led to a 39.2% increase in measured gold ounces in an updated resource for the project, in the province's Golden Triangle. Read More
The above-mentioned intercept was part of a wider 147.7m at 1.25% copper and 0.28g/t gold from 42.5m."Our excitement now is getting to test the potential for additional Caballito magnitude widths and grades over the next kilometre of strike," president and CEO Marc Prefontaine said.The company said similar Caballito-style copper-gold mineralisation was found when relogging 2017 and historical dril...Read More
SHANGHAI, Jun 20 (SMM) – Nonferrous metals futures, except for SHFE tin, inched down across the board on Wednesday June 20. The ferrous complex mostly gained. Hot-rolled coil went up over 1%. Rebar and coke edged up. Coking coal fell nearly 1%, and iron ore closed slightly lower. Copper: The SHFE 1808 contract hovered around the daily moving average within a range of 100 yuan...Read More
On Monday, Redstone Corporation, a subsidiary of Gina Rinehart's Hancock, lodged a bidder's statement for the unconditional 4.2c per share cash offer after acquiring 19.96% of Atlas last week.Read More
The spot gold price was about US$7 an ounce lower than this time yesterday, around $1,275/oz.Meanwhile as the summer/winter solstice nears (depending on your hemisphere), Solstice Gold (TSXV: SGC) was one of the standouts among juniors in Toronto as it announced "gold grains" from exploration at its Kahuna gold project in Nunavut.Shares in the company, which listed on the TSX Venture Exchange a mo...Read More
SHANGHAI, Jun 20 (SMM) –Copper: LME copper plummeted to the $6,800/mt level overnight while the SHFE 1808 contract slowed its decline. Support is seen at the $6,800/mt level for LME copper and we believe the SHFE 1808 contract is likely to stabilise at the 51,500 yuan/mt level. In the physical market, downstream consumers were keen to stockpile as futures prices fell. Such purchasing en...Read More
The 37-year-old was injured by a loader and succumbed to his injuries at an outpatient clinic, sister publication Mining News Brazil (NMB) reported. Read More
The copper price has turned a corner in recent times, coming off a prolonged price downturn from 2012 to 2017, which saw the red metal bottom at just under US$2/lb. Read More
Output is now estimated at 500,000-540,000 ounces versus previous guidance of 480,000-530,000oz.OceanaGold said operating performance at Haile had been strong with recent solid plant performance, and mining activities were gradually improving, while improvement to the mine plan had seen Didipio in the Philippines continue to outperform.In New Zealand, after a slow start Waihi was back on track whi...Read More
During trial mining at Matsa's Fortitude, tonnes and grade were lower than budgeted leading to production coming in at 9,522 ounces, around 80% of the target, while all-in costs were A$386 (US$285) per ounce above budget, leading to a slim cashflow of just $700,000.Read More
The head of the Mexico-based precious metals miner was among the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published this month.Alvídrez outlined a number of different fronts where the miner was looking to technology for "breakthrough changes" in the way it operated.Among them, he said Fresnillo put forward it...Read More
Meeting the increasing challenge of securing critical materials for use in military hardware, consumer electronics, electric vehicles and modern rechargeable batteries had less to do with producers ramping up production, or manufacturers using less raw material than it had to do with governments facilitating well-functioning global markets, Eggert said."Importantly, we are not running out of miner...Read More
Mining and metals stocks came in for more punishment on Tuesday as the trade spat between the US and China escalated amid a war of words between Washington and Beijing.On Tuesday, Donald Trump threatened to impose a 10% tariff on $200 billion of Chinese goods in retaliation for what the US president called the country's "predatory" trade practices. Beijing also ratcheted up the rhetoric accusing...Read More
World's No.1 miner BHP (ASX:BHP) is selling its Cerro Colorado mine, its smallest Chilean copper operation, to EMR Capital Advisors Pty, an Australian private equity firm that invests in natural resources in a cash deal worth $230 million.The Melbourne-based mining giant said in addition to the cash, it will receive $40 million in proceeds from the post-closing sale of the mine's copper invent...Read More
SHANGHAI, Jun 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs US-Sino trade tension grew, the appetite for risk shrank and suppressed the increase in the US dollar index on Monday. The index closed at 94.742 on Monday.LME metals saw mixed trading on Monday. LME lead rose 1.27%, aluminium gained 0.72% while nickel dropped 1...Read More