Bannerman, which started the current quarter with A$1.3 million cash, will use the funds for further optimisation studies on the Etango project in Namibia.While the project has been the subject of multiple studies this decade, the low uranium price has precluded development of the previously modelled US$793 million, 7.2 million pounds per annum operation.However, there is some optimism that the ma...Read More
However, he noted in his budget speech Thursday that, while this should be addressed for the DMR to be a catalyst for growth and development in South Africa, he was mindful of its financial constraints and would "strive to deliver with the limited resources at our disposal".Read More
Right-wing senator Ivan Duque emerged as the clear victor of the first round of voting in Colombia's presidential elections on May 27, attracting 39% of the 19 million votes cast. That compares to just 25% garnered by the left-winger, Gustavo Petro.Read More
The consideration for Talisman's Monty stake is on a cash-free and debt-free basis, with the US$11.5 million drawn down by Talisman under a debt facility with Taurus Mining Finance Fund to be repaid before the completion of the transaction.Read More
Thomas told Mining Journal a busy period in the first half of 2018 had been spent building up the management team in Vancouver - where there had been a few executive changes - and developing a strategy around Clara, the company's secure, digital, rough diamond sales platform acquired in February.Read More
Mining Journal: What's going on with the cobalt price? Read More
SHANGHAI, Jun 8 (SMM) – Treatment charges (TCs) of imported clean copper concentrate averaged $77-84/mt for the week ended Friday June 8, SMM assessed.This was up $1/mt from a week ago, marking the fifth consecutive week of increase. Suspension of domestic smelters due to equipment breakdown earlier this week accounted for the rise. The TC was also up $1/mt as of Friday June 1, compared...Read More
Striking Escondida workers clash with police March 2017 (Image: Telam | YouTube)Copper's stunning rally this week continued in New York on Thursday with the metal touching a high of $3.32 a pound ($7,310 a tonne), the highest since January 2014, before paring some of those gains as worries about labour-related supply disruptions in key producing regions resurface.Workers at the Escondida copper m...Read More
GABORONE, June 7 (Reuters) - Private equity firm Cupric Canyon will begin construction of its Khoemacau copper project in Botswana in October, with first sales of the metal expected in 2021, a company executive said on Thursday.Sparsely-populated Botswana is the world's top diamond producer by value, but the government of the southern African country is trying to diversify the economy to reduce it...Read More
Brazil's President Michel Temer is set to issue a decree next week introducing key changes to current mining regulations, aimed at making the country's industry more competitive and sustainable.The executive order will technically be a reinterpretation of 50-year-old regulations, rather than a new law, Adriano Trindade, attorney specializing in mining rules from Pinheiro Neto Advogados told MININ...Read More
World's No. 2 miner Rio Tinto (ASX, LON:RIO) has joined forces with Minmetals, one of the biggest Chinese mining companies, to explore for mineral deposits first in the Asian country and then the rest of the world .The 50-50 joint venture with state-backed Minmetals follows a technical agreement signed in November, when both parties committed to collaborative search for new ore bodies."The formali...Read More
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday.The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened...Read More
Australian copper-gold miner OZ Minerals (ASX:OZL) moved closer to having control of takeover target Avanco Resources (ASX:AVB) Thursday, as it declared its cash and shares offer for the for Brazil-focused explorer "unconditional."The Adelaide-based company is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418 million (a...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
* FTSE 100 up 0.3 percent* Miners drive strongest gains* Smurfit rises as U.S. rival drops bid* RPC looking to sell assets, stock tumbles (Updates prices, adds details, quotes)By Danilo Masoni and Helen ReidMILAN/LONDON, June 6 (Reuters) - Gains among mining stocks on stronger metal prices helped British shares outperform a sluggish European equity market on Wednesday, while packaging firm RPC sol...Read More
* Hawkish ECB comments lift euro, bond yields* Consumer groups dip, banks rise* Copper prices push commodity stocks up(Adds closing prices)By Kit Rees and Julien PonthusLONDON, June 6 (Reuters) - European stocks closed flat on Wednesday at the end of a choppy session during which hawkish comments by the European Central Bank lifted the euro and bond yields.The pan-European STOXX 600 .STOXX index e...Read More
* FTSE 100 up 0.3 percent* Miners among biggest gainers* Smurfit leads gainers as US rival drops bid* RPC looking to sell assets, stock tumblesBy Danilo MasoniMILAN, June 6 (Reuters) - Gains among mining stocks on the back of stronger metal prices and a surge in packager Smurfit Kappa SKG.L propped up British shares on Wednesday, helping them outperform a sluggish European equity market.The commod...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, June 6 (Reuters) - European stocks edged higher on Wednesday, underpinned by gains in tech and commodity-related stocks, although trading was cautious amid worries over Italian debt and global trade.The pan-European STOXX 600 .STOXX index was up 0.1 percent by 0720 GMT, while Germany's DAX .GDAXI advanced 0.2 percent a...Read More
SHANGHAI, Jun 7 (SMM) – Nonferrous metals, except for SHFE zinc, rose across the board on Thursday June 7. Copper led the gains and jumped nearly 2.2%, aluminium rose nearly 2%, and lead, tin, and nickel inched up. The ferrous complex also soared except for iron ore. Coke gained over 2%, coking coal grew over 1%, rebar rose nearly 1.5%, and hot-rolled coil inched up close to 1%.Copper:...Read More
SHANGHAI, Jun 7 (SMM) – Copper smelters in Yunnan province maintained normal operation as of Thursday June 7 after inspection teams from the central government settled in the province on Tuesday June 5, SMM surveyed. This suggested that previous rectifications in Yunnan were effective. Copper mines in the area were also little affected as most small and medium-sized mines...Read More