The country's mining minister Cesar Navarro Miranda announced the agreement on June 7, just days after the Washington DC-based International Centre for Settlement of Investment Dispute rejected an attempt by the South American country to annul a ruling in favour of Quiborax.Read More
Canaccord Genuity has been involved in the most mining deals in 2018.Canaccord has been an agent in 13 mining closed mining deals year-to-date with duties ranging from lead underwriter to selling agent. Second is BMO Capital Markets with 11 deals.Total number of agents that made mining deals in 2018 year to date were 99. Top 20 are graphed below.Over US$4.4B financing was closed year to date with...Read More
TOKYO, June 11 (Reuters) - Japan's Mitsubishi Materials Corp on Monday announced a top management reshuffle after the maker of metals and other products for the first time explicitly accepted responsibility over a data tampering scandal dating back to last year.In a statement, Mitsubishi Materials said its president Akira Takeuchi will step down from that role and assume the position of chairman a...Read More
SANTIAGO, June 11 (Reuters) - Unionized workers at BHP Billiton's Spence copper mine in northern Chile have approved a new labor contract, union president Ronald Salcedo said on Monday.Spence is one of the Anglo-Australian miner two mines in Chile. The other, Escondida, the world' largest copper mine, earlier this month entered into labor negotiations following a historic strike that shut down the...Read More
The US House of Representatives has approved an amendment to an energy and water act expediting the cleanup of abandoned uranium mines across the country, particularly in the so-called Arizona Strip, which contains about 40% of the country's reserves of the yellow metal.Uranium was extracted there, mostly within the vast Navajo Nation reservation - from western New Mexico into Arizona and souther...Read More
A Chinese state-owned conglomerate will become Canada's Ivanhoe Mines' (TSX:IVN) biggest shareholder after billionaire Robert Friedland's company agreed to sell a 20% stake for about $560 million (Cdn$723m).Under the deal, CITIC Metal will also make a $100 million loan facility available to the Canadian listed company, which said it would use the proceeds to advance its projects in southern Afric...Read More
SHANGHAI, Jun 11 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell 0.7% over the past week to close at 93.5 last Friday. Expectations of interest rate hikes grew while the euro remains under pressure amid Italian political turmoil and the eurozone’s trade disputes with the US.SHFE metals fell last Friday...Read More
While summer drilling programmes are ramping up across North America, and other parts of the hemisphere, Phoenix Global Mining's (AIM: PGM) confidence in not only copper and cobalt prices, but the "environment" in which the company is progressing plans to revive the old Empire mine, four miles out of tiny Mackay in Idaho's Big Lost River valley, is reflected in the US$11.25 million market-cap comp...Read More
By Sudarshan VaradhanCHENNAI, June 10 (Reuters) - Indian police are only arresting people involved in protests against a copper smelter owned by Vedanta Resources VED.L where there is videographed evidence of them indulging in "anti-social" activities, a senior state minister told Reuters.More than 100 people have been arrested, some in early morning and late night raids, since police opened fir...Read More
Investing.com - Gold prices look likely to remain vulnerable ahead of the upcoming Federal Reserve meeting on Wednesday, when it is widely expected to raise interest rates in what would be its second rate hike this year.Expectations for higher interest rates tend to be bearish for gold, which struggles to compete with yield-bearing assets when rates rise.The week will also bring updates on U.S. in...Read More
The shares surged 25% intraday before closing up 18.3% at C35c, capitalising Altiplano at about C$20 million. They got to 56c in January after touching 13c late last year.Altiplano is busy with two concurrent bulk sample campaigns on the 395m and 401m levels. The undertaking has extracted 10,585t of copper-iron-gold vein material, of which 6,020t have been shipped for toll milling, and 3,655t rema...Read More
She has 13 years' experience as a solicitor in markets relevant to the recently listed Panthera's activities and the company said it would benefit from her corporate management experience, including financing, strategic investment, project management, debt financings, asset sales and takeover defence.Apthorpe was selected as one of the Top 100 Global Inspirational Women in Mining due to her leadin...Read More
SHANGHAI, Jun 11 (SMM) – Nonferrous metals saw mixed trading on Monday June 11. SHFE nickel led losses and closed 0.79% lower. Tin dipped 0.52%, and aluminium inched down. Zinc, lead, and copper went up slightly.The ferrous complex gained for the most part. Iron ore rose 0.64%. Rebar and hot-rolled coil inched up, while coking coal lost 0.76% and coke edged down.Copper: The SHFE 1808 contrac...Read More
Los Andes closed the first tranche in early May, issuing 7.87 million units to RCF VI at 33c each for gross proceeds of C$2.6 million (US$2 million).Read More
SHANGHAI, Jun 11 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat to the SHFE 1806 contract in the Shanghai market on Monday June 11. This compared with a discount of 60-20 yuan/mt on Friday June 8.The SHFE 1806 contract strengthened this morning. It gained 260 yuan/mt to close at 53,800 yuan/mt in the morning trading session. Prices of the 1806 contract remained 20...Read More
SHANGHAI, Jun 11 (SMM) – Sales of new-energy passenger vehicles in China amounted to over 92,000 units in May, up 140% year on year and up 30% month on month, according to wholesale data from China Passenger Car Association (CPCA) released on Friday June 8.In May, sales of pure electric passenger vehicles rose 130% from a year ago and stood at 73,072 units. Sales of plug-in hybrid elect...Read More
Beowulf Mining is working in both Sweden and Finland. CEO Kurt Budge remains upbeat about the company's progress, despite ongoing problems advancing the Kallak magnetite iron ore project in Sweden's north.Read More
SHANGHAI, Jun 11 (SMM) –Copper: LME copper hit a high of $7,333/mt last Friday as the SHFE inventories fell and as China’s May imports of unwrought copper and copper products surged 22% year on year. It then edged down slightly before closure. The SHFE 1808 contract was bolstered by longs to close at 54,420 yuan/mt from a low of 54,210 yuan/mt. Open interest of SHFE copper rose over 14...Read More
Once the agreement goes through, Kefi will own 54% of Tulu Kapi, with the syndicate holding 23% and Ethiopia's government holding the remaining 23%.Read More