Glencore will resume payments to its long-time partner in the DRC, Israeli billionaire Dan Gertler, pictured here. (Image: Bloomberg Markets via YouTube.)Miner and commodities trader Glencore (LON:GLEN) has settled a potentially damaging legal row with former business partner in Democratic Republic of Congo, Dan Gertler, by agreeing to pay royalties he is owed from copper and cobalt mines.The Swi...Read More
SHANGHAI, Jun 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index soared and registered a fresh high in June overnight due to better-than-expected retail sales growth in May and the European Central Bank’s (ECB) dovish decision to hold off on rate hikes.The ECB announced it would reduce monthly asset purchases be...Read More
* FTSE 100 up 0.8 pct* Unilever says Brazil strike hit sales, shares fall 3.7 pct* Restructuring, job cuts send Rolls Royce up 6.5 pct* Aveva jumps 12 pct after results (Updates prices, adds quotes, details)By Helen ReidLONDON, June 14 (Reuters) - Britain's main stock index rose on Thursday after the European Central Bank signalled interest rates would remain steady through next summer, easing i...Read More
Investing.com - Gold prices traded higher in midmorning trade on Thursday as traders as worries over U.S.-China trade relations sparked demand for the safe haven asset.At 10:54AM ET (14:54GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange inched up $8.50, or 0.7%, to $1,309.80 a troy ounce.U.S. President Donald Trump was expected to meet with his top t...Read More
By Krishna N. DasNEW DELHI, June 14 (Reuters) - Vedanta Resources VED.L is considering options including lay-offs for some of the 2,000 employees of its iron ore business in southwest India that was shut down by a court, two sources said, as it struggles with a series of setbacks in the country.The Supreme Court in February cancelled all iron ore extraction permits in the southwestern state of G...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.7 pct* Consumer staples lead losses as bond proxies suffer* Restructuring, job cuts send Rolls Royce up 3 pct* Pearson (LON:PSON) hit by Barclays (LON:BARC) downgrade* Aveva jumps 12 pct after resultsBy Helen ReidLONDON, June 14 (Reuters) - Britain's major stock index tumbled on Thursday as equities acros...Read More
After formalising the 75% Trevali/25% Puma option agreement in March, the partners have now held the first technical committee meeting where an exploration budget of C$1 million was agreed to, to be funded proportionally. The Murray Brook deposit comprises 484 hectares and is 10km west of Trevali's Caribou mine and 10km east of Trevali's Restigouche deposit, along the favourable Caribou horiz...Read More
SHANGHAI, Jun 15 (SMM) – Nonferrous metals futures dipped across the board on Friday June 15 as SHFE aluminium led the loss and closed over 1.8% lower. Lead slumped over 1.1%, zinc fell over 1%, and nickel dipped 0.82%. Tin and copper inched down.Meanwhile, the ferrous metals mostly rose. Coke jumped over 1.6%, rebar gained 0.52%, coking coal went up 0.36%, and iron ore rose 0.32%. Hot-rolle...Read More
Fortune, with a current market value of C$59.26 million, says strong third-party interest from several global mining and refining companies in buying NICO concentrates directly from the mine site has prompted it to instruct consulting engineering firm Hatch to adjust the engineering design and move the bulk concentrate regrind circuit and secondary flotation concentration process back to the North...Read More
The Vancouver-headquartered junior advises the anomalies are significant because they are interpreted to be surface expressions of porphyry-related alteration and mineralisation of the Silver Star Fault Zone, a major regional structure extending through the Madison property and continuing 37km to the north-west, into the prolific, porphyry-based Butte mining district.The soils sampled contain gold...Read More
Earlier this week it received US$30 million in backing from an Ethiopian investment syndicate in exchange for an interest in Tulu Kapi, while a month ago it issued bonds worth $160 million to partly fund Tulu Kapi.It has been arranging its own financing since splitting with its finance partner Oryx Management in January.By placing 120 million new ordinary shares at 2.5p each to...Read More
Sandfire has acquired 16.7 million shares at A12c per share for $2 million, giving the miner a near 19.6% stake.Read More
SHANGHAI, Jun 15 (SMM) –Copper: The surging US dollar weighed on base metals overnight. While delivery approaches and price spread between SHFE front-month contracts narrowed to 150 yuan/mt, spot discounts lingered amid a low season of consumption. Shorts have yet to significantly add to their positions while longs are now keen to close out their bets. Copper prices are likely to trade range...Read More
Led by Alliance Securities, the underwriters have agreed to buy, on a bought-deal private-placement basis, a minimum of C$1 million of units - called ‘hard units' - at C23.5c each, and the balance in any combination of Quebec flow-through shares at C30c and federal flow-through shares at C28c.Each hard unit will comprise one common share and half of a share purchase warrant, and each whole w...Read More
The US company is planning to build the facility in the Kemerton industrial park on the outskirts of Bunbury, a coastal town 180km south of Perth.In April last year, Albemarle signed a two-year option to lease a site at Kemerton and submitted a plan to the EPA in November.It is proposed that the Kemerton plant will produce up to 100,000tpa of lithium hydroxide from five 20,000tpa process trains.Th...Read More
The deal, announced in February, was resisted by big Layne shareholders Cetus Capital and Nokomis Capital but ultimately won approval by holders of more than 90% of the stock.All Layne shares have been exchanged for 0.27 Granite shares.Outgoing Layne president and CEO Michael Caliel said the "compelling premium" offered by California-based Granite recognised the driller's turnaround of recent year...Read More
RUL has traded in the past 12 months in a A53-80c band and was capitalised at A$137 million today.The agreement with Proquire will see its software products offered as part of Accenture's Connected Mine suite, on a subscription basis, through Accenture.Connected Mine aims to break down traditional mining data siloes and provide valuable, timely information to decision makers through a combination...Read More
The company said its deep directional coring and Strike's aircore and reverse circulation capabilities were highly complementary, allowing it to offer clients a full suite of drilling services across the resources life cycle.Read More
In April, Ventora Development Sasu, led by Israeli businessman Dan Gertler, served freezing orders of almost US$3 billion against Glencore's subsidiaries Mutanda Mining and Kamoto Copper alleging breaches of royalty agreements of $695 million and $2.28 billion, respectively.Read More