Shares in Kinross Gold (TSX:G) (NYSE:KGC) jumped Tuesday in pre-market trading as the Canadian miner announced is going ahead with an initial expansion of its Fort Knox mine, located in one of Alaska's largest gold producing areas.The project, to be carried out over an area known as Gilmore, immediately west of Fort Knox, is expected to initially extend the mine life of the open-pit operation by...Read More
SHANGHAI, Jun 12 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rose 0.04% to close at 93.6 overnight with the 10-year treasury yield climbing up. The Federal Reserve is widely expected to increase interest rates on Wednesday, which could further support the US dollar this summer.Base metals saw mixed performance ss...Read More
LUSAKA, June 11 (Reuters) - Vedanta Resources VED.L plans to double finished copper production AT Zambia's Konkola Copper Mines to 200,000 tonnes this year, the CEO of its Zambian unit said on Monday."Last year we produced just under 100,000 tonnes and I want us to get to 200,000 tonnes this year," Vedanta's Deshnee Naidoo told Reuters.Read More
Investing.com - Gold prices started the week higher in midmorning trade Monday while investors returned to their desks to digest the trade tension over the weekend at the G7 summit and looked ahead to the summit between the U.S. and North Korea as well as key policy decisions from the Federal Reserve and European Central Bank.At 10:27AM ET (14:27GMT), gold futures for August delivery on the Comex...Read More
(Adds company news and futures)June 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 16 points at 7,697 on Monday, according to financial bookmakers, with futures FFIc1 up 0.25 percent ahead of the cash market open.* ROLLS ROYCE: Rolls-Royce RR.L said on Monday a costly problem affecting the durability of a certain type of Trent 1000 engine had spread to another type and would requ...Read More
June 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 16 points at 7,697 on Monday, according to financial bookmakers.* COMCAST: U.S. cable company Comcast CMCSA.O is set to gain unconditional EU antitrust approval for its bid to buy European pay-TV company Sky SKYB.L . TESCO: Britain's food watchdog said it was investigating allegations that traces of meat had been found in "meat-...Read More
Last week index score: 45.96This week: 35.42 Zinc One Resources (TSX-V: Z) reported the final drill results from the high-grade zinc discovery in the Mina Chica zone of its Bongar?? zinc project in north-central Peru.The Oreninc Index fell in the week ending June 8th, 2018 to 35.42 from 45.96 a week ago as financings decreased, and broker action stayed away.Gold spent the week flirting...Read More
The metallurgical study will be incorporated into the Springpole prefeasibility study, which is scheduled for completion some time in 2019.A secondary function of the M3 study will entail an attempt to improve gold recovery in the current whole-ore carbon-in-pulp (CIP) flowsheet, as suggested in the October 2017 preliminary economic assessment (PEA), and to optimise recoveries for the flotation fl...Read More
Toronto-based Wesdome, which has a 30-year pedigree as a Canadian gold producer, is working to develop and explore the 300E Zone that was first discovered in 2015. The 300 Zone is located 300m - 400m north of the main 8 Zone structure, which has provided the bulk of the Eagle River mine's production over the past 20 years. It comprises two areas - the 300W and 300E Zones - with the 300E area...Read More
SHANGHAI, Jun 12 (SMM) – Nonferrous metals mostly traded weakly on Tuesday June 12. SHFE nickel led losses and closed 0.61% lower. Copper dipped 0.52%. Tin and aluminium inched down, while zinc and lead went up slightly. The ferrous complex rose across the board with coke leading the gains with a surge of nearly 4%. Coking coal jumped nearly 3%, rebar gained almost 2%, hot-rolled coil r...Read More
The Vancouver-based company is offering up to 12.87 million common shares, comprising 4.54 million flow-through shares at C66c each, for total gross proceeds of up to C$3 million, and 8.33 million ordinary common shares at C48c apiece, for gross proceeds C$4 million.Foran in December signed a technical services agreement with Glencore Canada to provide technical services and expertise to advance t...Read More
The deal will see CITIC Metal become Ivanhoe's single largest shareholder, besting founder and executive chairman Robert Friedland's 17% Ivanhoe stake.Read More
By funding US$1.56 million on exploration over two years, Stratex can earn an initial 51% of the two projects from Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3), with at least $560,000 to be committed in the first year.The work plan for the first stage includes infill trenching at Bakassi to better define key gol...Read More
The results expand the current east-west footprint to 2.2km wide and 1.7km long (north-south). Delineation drilling to date confirmed a 50m-140m-thick lithium-rich tuff unit, that points to the deposit's significant scale.The Toronto-based company reported that it had mapped and sampled a massive footprint for the lithium-bearing deposit, and the thick intersections of lithium-rich tuff had consis...Read More
MOD said visible sulphides in intermittent veins were seen in a 90m interval from 360m downhole, with the hole being deepened and assaying still to be undertaken.Read More
SHANGHAI, Jun 12 (SMM) –Copper: Longs were keen to take profit and left after the previous surges in copper prices. Unionised workers at BHP’s Spence copper mine in northern Chile approved a new labour contract on Monday, which pushed some speculative longs to leave the market.With a widely expected hike in interest rates and as the US dollar stabilised, copper prices are likely t...Read More
Recent headline hits below the Martha pit included 5m grading 65.3g/t gold and 100g/t silver, with the company having a current exploration target of 3.5-5 million tonnes grading between 5-7g/t gold for 500,000oz to 700,000oz of gold.Read More
Former Maersk chief finance, strategy and transformation officer Jakob Stausholm has been named as Rio's new CFO.Lynch will step down as CFO and executive director on September 3, with Stausholm to take over that same day.Rio CEO J-S Jacques said he was delighted that Stausholm was joining Rio."The experience he has gained in various senior financial and strategy roles globally will be invalu...Read More
The company announced two weeks ago it had "significantly" scaled back mining activities at its Pilar and Turmalina gold mines, due to the delayed delivery of fuel and other critical mining consumables.Jaguar said yesterday the 10-day strike had impacted gold production and it expected some shipping and logistics issues to persist over the coming weeks, as transportation normalised to clear delive...Read More