(Adds company news and futures)June 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,747 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.21 percent ahead of the cash market open.* BOOHOO: British online retailer Boohoo BOOH.L said its combination of fast fashion at low prices had got the group off to a strong start to the year, confirming its...Read More
June 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,747 on Tuesday, according to financial bookmakers.* BHP: Unionized workers at BHP's BLT.L BHP.AX Spence copper mine in northern Chile agreed on Monday to a new collective labor contract, the company and the union said. RANGER DIRECT: Two large investors in Ranger Direct Lending Fund RDL.L , Oaktree Capital Manag...Read More
Marchuk joined the EuroChem board in December 2017 as a non-executive director and is also on the board of SUEK where he was CFO and deputy CEO between 2011 and 2016. He was the CFO of Ukralkali between 2004 and 2010, sitting on the board from 2007.EuroChem CEO Dmitry Strezhnev said Marchuk had worked closely with the group and was well known by its financial stakeholders.Read More
SHANGHAI, Jun 13 (SMM) – Nonferrous metals fell across the board on Wednesday June 13 as SHFE tin led losses with a decline of over 3%. Aluminium closed over 1.5% lower, copper lost nearly 1%, zinc fell 0.7%, and nickel inched down. The ferrous complex, except for coking coal, rose across the board. Coke closed nearly 1.6% higher, and rebar gained nearly 1%. Hot-rolled coil and iron ore...Read More
The US$100 million expansion is expected to add another six years of mining to the operation's mine plan, followed by a further three years of leaching up to mine closure slated for 2030. Currently, without the Gilmore expansion, milling at Fort Knox is expected to end in late 2020.The expansion will lift Fort Knox life-of-mine output by about 1.5 million gold-equivalent ounces and generate an add...Read More
The company hoisted first ore in January, started milling in March and increased throughput to produce 3,124dmt of zinc concentrate during May. Read More
SHANGHAI, Jun 13 (SMM) – The operating rate across China’s copper tube/pipe producers inched up 3.59 percentage points from April to stand at 94% in May amid a high season of consumption, SMM research found. The rate gained 4.36 percentage points over the past 12 months.Some producers told SMM that they received fewer orders in June. We expect that the operating rate at China&rsqu...Read More
Karo owns half of the Karo Platinum project, which has a tier-one PGM resource of 96 million ounces on Zimbabwe's Great Dyke region and was recently awarded PGM mining rights under a special grant covering an area of 23,903 hectares.This is not the company's first foray into the country, having acquired 90% in Salene Chrome a month ago.It is not surprising that South Africa-focused Tharisa is attr...Read More
The transaction is a good win for Orford as it will take control of Condor's C$1.25 million in marketable securities that includes $663,122 in cash."This transaction gives Orford a significant hard dollar cash balance that will be used to fund exploration at our Carolina gold projects and for general corporate purposes. The acquisition of Condor allows Orford to add hard dollars to its balance she...Read More
SHANGHAI, Jun 13 (SMM) –Copper: Copper prices are likely to retreat in the short term on both the technical and fundamental fronts. The US dollar rose overnight in anticipation of the interest rate hike on Wednesday, which suppressed copper prices. We expect LME copper to trade at $7,170-7,230/mt with the SHFE 1808 contract at 53,600-54,100 yuan/mt. Trading in the spot market remained sluggi...Read More
BHP (ASX: BHP) was 1.3% lower in afternoon Australian trade while in London, Rio Tinto (LSE: RIO) had closed down slightly in London and Glencore (LSE: GLEN) was 1.39% lower.The gold price has lost a few dollars since this time yesterday and was last worth about US$1,294 on the spot market.Barrick Gold (TSX: ABX) was off 0.17% in Toronto, while shares in Katanga Mining (TSX: KAT) gained more than...Read More
According to Battery, RCF made the decision "because the graphite market no longer meets its investment criteria".Read More
Construction began in the June quarter last year following the raising of A$228 million in capital, with the company saying at the time it expected concentrate shipments to start from the second quarter this year. Pilbara lauded contactor RCR Tomlinson and its subcontractors for delivering the processing facility "right on time" despite having to contend with three cyclones. In its curre...Read More
The turnaround for a 170-year-old business has been a slow and at times painful process which included an ill-fated attempt to enter the Asian market by re-developing an old Australian iron ore mine, before the return to its roots as a specialist supplier operating in the Great Lakes region.Read More
Established in 2014 by Sydney software engineers and ‘drone pilots' Francis Vierboom and Rory San Miguel with strong Silicon Valley investor support, Propeller is seeing the bulk of current new growth coming from the US market.Big California-based competitors such as Kespry and Airware have completed private equity raisings orders of magnitude larger than Propeller's in recent years.The latt...Read More
Katanga's 75%-owned subsidiary, Kamoto Copper Company (KCC), will also convert about $5.6 billion of its $9 billion debt into equity under the settlement, which will result in Gécamines dropping all legal action.Read More
The 56-year-old head of the Saudi Arabian diversified miner was interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published later this month.Ma'aden was formed in 1997 to develop the country's mineral resources. It was government owned until 10 years ago when 50% of its shares were floated on the Saudi Stock Exchange.Al-Madaifer said the company had...Read More
LUSAKA, June 11 (Reuters) - Vedanta Resources plans to double finished copper production at Zambia's Konkola Copper Mines (KCM) to 200,000 tonnes this year, the CEO of its Zambian unit said on Monday.KCM has ploughed more than $3 billion into the southern African country's copper mines since 2004, including a further $1 billion investment package announced last year to revamp and upgrade some mine...Read More
Brazil's President Michel Temer issued Tuesday two decrees introducing key changes to the country's 50-year-old mining regulations, aimed at making the local industry more competitive and sustainable.The changes, announced by MINING.com last week, seek drawing investment to the sector while implementing rules on the collection of higher mining royalties and their distribution.Mining is regulated i...Read More