* MSCI world tech stock index climbs 0.7 pct to new record high* Italian bonds see modest selling ahead of govt confidence vote* Peso slides vs the dollar as tariff spat with U.S. escalates* Copper rises as wage talks rumble on at world's largest mine* Crude oil prices crawl up after 3 sessions of lossesBy Marc JonesLONDON, June 5 (Reuters) - World tech stocks hit a record high on Tuesday, spurred...Read More
As a result, the Vancouver-headquartered miner doubled Cozamin's total measured and indicated resources to 217,000t of red metal, compared with the previous resource announced at the end of December.The resource update stokes optimism that the increasing copper resource could support a mine expansion, according to company president and CEO Darren Pylot.The news sent Capstone's TSX-quoted equity (C...Read More
Palmer has been with Bluejay for six years, is also finance director of SigmaRoc and a partner at Heytesbury Corporate, which provides management consulting, company secretarial and corporate services. He previously worked at Apple where he was finance manager.Bluejay CEO Roderick McIllree said he expected the change to be seamless as the company focused its time and resources on the Dundas...Read More
SHANGHAI, Jun 6 (SMM) – A potential disruption in supply from domestic environmental reviews and a declining US dollar buoyed prices of SHFE copper recently, SMM senior analyst Ye Jianhua believed. The SHFE copper 1808 contract jumped over 2% to close at 53,320 yuan/mt on Wednesday June 6. LME copper currently stands at around $7,150/mt, with gains of 5% in the last four cons...Read More
The licence for the 2.5 hectare kimberlite pipe concession was said to be an "important development" for the company, as it was last prospected in 1986 and Botswana Diamonds suspects its kimberlite pipe size, grade and diamond quality may have been underestimated in the past.The licence is adjacent to De Beers' Oaks mine, which had a grade of 53 carats per hundred tonnes, and is also expected to h...Read More
Metal Tiger has a joint venture 170km up the road with MOD Resources and now will have access to almost 2,000sq.km in two licences in Botswana for its cash.Read More
The spot price on the London Metal Exchange rose a further 1.75% yesterday to US$7,095.25 per tonne, its highest point since late February.Broker SP Angel said the Escondida union was presenting its "most ambitious wage proposal" and noted last year's failed talks at the mine, majority owned by BHP, had led to a 44-day strike that pushed copper prices higher. Red metal stocks around the glob...Read More
SHANGHAI, Jun 6 (SMM) – Nonferrous metals rose across the board on Wednesday June 6 with SHFE nickel leading the gains with a rise of nearly 2%. Copper jumped 1.96%, zinc grew almost 1.9%, aluminium and lead rose over 1%, and tin inched up. The ferrous complex also soared as rebar led the gains and closed nearly 2% higher. Iron ore went over 1.8% higher, and hot-rolled coil rose over 1%...Read More
Nevsun this week held a ground-breaking ceremony at Timok for the start of an exploration decline at "one of the world's best undeveloped copper projects", that was attended by company and government dignitaries.Read More
SHANGHAI, Jun 6 (SMM) – To ease concerns of shortages of charging stations, Guangdong Power Grid will invest 2.7 billion yuan to build over 10,000 charging points across the province by the end of 2020, Chinanews reported on Tuesday June 5.The company will also work with the Guangdong Provincial Communication Group to develop charging infrastructure along expressways across th...Read More
The opposite seems more likely, according to the highly-regarded investment bank, Credit Suisse, which reckons that copper is heading for surplus this year and a price fall.Read More
SHANGHAI, Jun 6 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat over the SHFE 1806 contract in the Shanghai market on Wednesday June 6. This compared with a discount of 30 yuan/mt to a premium of 30 yuan/mt on Tuesday June 5.The SHFE 1806 contract traded robustly this morning. It gained over 700 yuan/mt from the previous day to close at 52,580 yuan/mt in the mornin...Read More
Jefferies analysts lead by Christopher LaFemina said "rumours of coal's death are premature" and they increased their seaborne price forecast for Australian 6,000 kcal/kg NAR FOB Newcastle thermal coal to US$105 per tonne for the rest of 2018 from the previous $90/t.Read More
SHANGHAI, Jun 6 (SMM) –Copper: Trading levels of copper prices climbed up as the US dollar weakened and as the worries over supply from the Escondida labour negotiation sustained. The SHFE 1807 and 1808 contracts surged overnight and are expected to extend their gains today. We see LME copper trading at $7,100-7,160/mt today with the most traded SHFE contract at 52,800-53,300 yuan/mt. A...Read More
Dowling shared his thoughts on transformation in the industry for the "Mining Journal Global Leadership Report: Preparing for transformation" report being released later this month.In the wide-ranging interview, Dowling used the example of driverless trucks and autonomous vehicles as one area of development."My personal view of this is that we can't imagine what's coming at us," he said."I think t...Read More
The gold major released its 16th annual sustainability report this week assessing the company's environmental and social performance for 2017.It did not meet its 2017 total reportable injury frequency rate (TRIFR) aim of 0.32 but said its result of 0.35 was a 12.5% reduction from 2016 and Barrick's safest year on record.However Dushnisky said this result was marred by the tragic deaths of Eulogio...Read More
Production at Escondida began in 1990 and peaked in 2007 at more than 1.4 million tonnes of copper. Image: BHPCopper jumped 3.7% in New York on Tuesday to trade at $3.25 a pound ($7,165 a tonne), the highest since end-February, as worries about supply disruptions in key producing region resurface.Workers at the Escondida copper mine in Chile put down quite a marker in the third round of contract n...Read More
Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come.The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport's current contract with the government. But recently, after...Read More
The growing adoption of electric vehicles (EVs) is expected to cost Germany's key auto industry about 75,000 jobs by 2030, a study released Tuesday shows, with parts suppliers set to suffer the most.The adoption of EVs will lessen the importance of petrol- and diesel-fuelled cars, an industry where German carmakers have built a reputation for decades and which currently employs about 840,000 peop...Read More