MELBOURNE (Reuters) - Metals traders are moving jobs for the first time in years as a price recovery spills into the trading sector, and more hires are expected as brokers eye opportunities from China's mainland exchanges opening to investors abroad.The signs of an uptick follow a six-year industry shake-out as years of declining prices led to the exit of major traders such as Barclays and Deutsch...Read More
Source: Maurice Jackson for Streetwise Reports 06/01/2018Matthew Gili, CEO of Nevada Copper, speaks to Maurice Jackson of Proven and Probable about the company's plans to go into production.Maurice Jackson: Today we will highlight the next mid-tier production company. I'm speaking of Nevada Copper Corp. (NCU:TSX; NEVDF:OTC.MKTS), North America's next copper producer. Joining us for a conversat...Read More
BEIJING, June 4 (Reuters) - Aluminum Corp of China , known as Chinalco, at the weekend said it had started work on a $1.3 billion expansion of its Toromocho copper mine in central Peru. The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually, Chinalco Chairman Ge Honglin said at a groundbreaking ceremony in Peruvian ca...Read More
SHANGHAI, Jun 4 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index closed at 94.179 last Friday, slightly down over the week. The index registered a six-month high of around 95.02 in the middle of last week and then lost the gains. The strong performance of US nonfarm payrolls further fuelled the anticipation of...Read More
Investing.com - Gold traders will keep their focus on more trade-related headlines in the coming week, as President Donald Trump prepares to meet world leaders at the G7 summit in Canada.Fresh geopolitical developments surrounding President Trump's planned meeting with North Korean leader Kim Jong Un slated for later this month will also be on the agenda.With a lack of major economic reports in th...Read More
The measured resource estimate was increased by 56%, with the overall measured and indicated resource up 12% to 5.71 million tonnes containing 381,000 ounces of gold at 2.08g/t, based on a 1g/t cut-off grade.Singida now has a total project resource of 12.4 million tonne containing 725.000oz at 1.84g/t, including an inferred resource of 6.57Mt containing 344,000oz at 1.63g/t.Shanta said only two of...Read More
SHANGHAI, Jun 4 (SMM) – Most nonferrous metals weakened on Monday June 4 except for SHFE copper and aluminium. SHFE tin fell 2%, zinc closed 0.62% lower, and lead and nickel inched down. The ferrous complex dipped across the board as coke led the loss with a drop of nearly 3.5%. Iron ore, coking coal, and hot-rolled coil fell over 1%, and rebar edged down. Copper: SHFE 1807 co...Read More
Glenn Kondo has joined Orca after being announced as CFO at Strongbow Exploration in March but not making it to the June 1 start date.Before that, he served in the same role at fellow Lukas Lundin-linked company Lucara Diamond Corp.Orca CEO Rick Clark said Kondo's experience in the team that brought the Karowe mine to production would be helpful as his company developed the Block 14 gold project.O...Read More
Garibaldi, fellow BC Golden Triangle explorer Metallis Resources, Manitoba lithium explorer QMC Quantum Minerals Corp, Western Australia conglomerate gold sensation Novo Resources, and Idaho gold explorer Integra Resources all started June with stock prices 35% or more below their 52-week highs.But they led the market for overall gains in the 12 months to June 1, rising 369% or more for the period...Read More
SHANGHAI, Jun 4 (SMM) – A total of 226 metal and nonmetal mines in Tangshan, Hebei province are required to suspend operation until they obtain a valid "safe production licence", or renew their licences, according to a municipal government notice released on Sunday June 3.The suspension is likely to further tighten supplies of iron ore concentrate in Tangshan and sup...Read More
Gold bulls extraordinaire at Incrementum AG have laid out a major case for gold company investors to make big gains over the next few years in their latest, ‘In Gold We Trust' report.Read More
The US$10.5 million JV over Hammer's Overlander, Even Steven and Dronfield iron oxide-copper-gold targets was signed in late 2015, with Newmont having the potential to earn up to 80%.Read More
SHANGHAI, Jun 4 (SMM) – China’s copper scrap imports are likely to remain at low levels in May as Chinese authorities imposed broad-based inspections on all scrap materials from the US from May 4, SMM believed.China imported 180,000 mt of copper scrap in April, down 36.7% year on year and 19.3% month on month, according to data from Chinese Customs. This marked a third l...Read More
SHANGHAI, Jun 4 (SMM) –Copper: The SHFE 1807 contract rose above the daily moving average after it fell to a low of 51,490 yuan/mt last Friday night. Technically, LME copper now struggles among several moving averages. We see some upward momentum for it as its KDJ indicator expands upwards. The SHFE 1807 contract now stands firmly above the 51,500 yuan/mt level. We expect LME copper to...Read More
The assets include the Mount Block exploration tenement, an access easement and the Que River mine lease as well as the remaining base metal exploration and development rights on the Hellyer polymetallic mine lease, in Tasmania's west.NQ Minerals agreed to acquire the package with a view to starting gold production from Hellyer later this year.Bass first announced the deal in May 2017, with the in...Read More
Consolidated Mining and Civil (CMC), which is already a profit sharing partner at the Portia gold mine, will pay $13.5 million in staged cash payments over 18 months and replace rehabilitation obligation funding of $1.2 million.Read More
Executives at Sweden's Epiroc will present at a number of institutional events in the coming weeks, ahead of and after its scheduled June 18 public listing (and separation from Atlas Copco). Their main focus will be financial and market data released at last week's inaugural Epiroc Capital Markets Day, but there will be plenty of questions about longer-term growth prospects within and outside the...Read More
The CEO of Australian iron ore producer Fortescue Metals Group (ASX:FMG) said that the company is working towards finding other commodities to mine.In an interview with local conglomerate Fairfax Media, Elizabeth Gaines said that she has high hopes for the exploration work for copper, gold and lithium that the company is advancing in Ecuador and Argentina. Gaines said that finding the right projec...Read More