SHANGHAI, May 31 (SMM) – Most nonferrous metals rose on Thursday May 31. SHFE nickel surged 2.5% and registered a three-year high of 114,680 yuan/mt. SHFE zinc gained 1.5% with lead and copper slightly up. SHFE aluminium lost 0.78% and tin dipped.The ferrous complex rose across the board. Coking coal jumped 2.4%, coke rose 1.7%, rebar gained 1.5%, hot-rolled coil inched up clo...Read More
It was Widdup that called the early stages of a new mining boom in early 2016.Read More
It said the intersections from follow-up and extension drilling were deeper than previously seen, but were likely to come to or near the surface.The intersections included 21m at 1.6% lithium from 87m, 14m at 1.53% Li2O from 92m, 11m at 1.42% Li2O from 151m, and 10m at 1.59% Li2O from 189m.The company noted the pegmatite veins intersected were spodumene rich, (20-30% content) low mica pegmatite bo...Read More
SHANGHAI, May 31 (SMM) – Spot copper was mostly offered at a discount of 40 yuan/mt to a premium of 20 yuan/mt over the SHFE 1806 contract in the Shanghai market on Thursday May 31. This compared with a discount of 70 yuan/mt to flat on Wednesday May 30.The SHFE 1806 contract hovered at 51,000 yuan/mt, and closed at 51,120 yuan/mt in the morning trading session, up 220 yuan/mt from the...Read More
Thomas, who will also be Copperstone mine general manager, was a "key addition to the Kerr Mines executive management team", the company said this week.An engineer with more than 30 years' experience in the industry, Thomas has overseen construction and commissioning of a number of mines including Kupol in Russia for Bema Gold, Fort Knox and Kubaka for Kinross Gold, Kensington and Palmarejo mines...Read More
SHANGHAI, May 31 (SMM) – Copper: LME copper rebounded last night and rose twice to a high of $6,856/mt as LME copper inventory declined and the US dollar weakened. The SHFE 1807 contract was pushed up to a high of 51,370 yuan/mt as LME copper gained and shorts cut their positions. However, it inched down to close 60 yuan/mt lower at 51,270 yuan/mt with limited support. We expect LME cop...Read More
It issued 29.2 million ordinary shares at 1.2p per new share to be admitted to trading on AIM on or around June 6. After the placement, the company's share capital will comprise 202.3 million ordinary shares.The company said it expected to start mining at Pipe 1 in the September quarter and its development was ahead of schedule, with 107,000 tonnes of waste already mined and the first kimberlite b...Read More
Northern Vertex poured first gold at Moss in March this year and had an estimated 4,200oz of recoverable gold and 27,000oz of silver on the site's heap leach pad at the end of April. The junior sees that Moss is eventually capable of yielding 42,000 gold-equivalent ounces a year after further expansion.The market, however, remains somewhat unimpressed, with Northern Vertex trading around its lowes...Read More
Having expanded their operations hand over fist in recent years, and then settled them down in to steady state production at greatly reduced operating costs, the attention of the trio now turns to a new round of investment to maintain output for the long-term.Read More
Goldberg is one of the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published next month.He said shareholders were investing more responsibly and demanding accountability - or simply not investing in businesses that did not meet their standards.Accordingly, Goldberg said miners needed to demonstrate a more consistent st...Read More
The Anglo American subsidiary this week said it would produce diamonds for the US market at a facility in the UK, and sell them for around US$800 per carat under a new brand called Lightbox.Industry observers have said it looked like a move to definitively split the value of both types of diamonds in consumers' eyes, shoring up mined diamond prices.The Diamond Producers' Association CEO Jean-Marc...Read More
Stock imageBy Aaron RossDAKAR, May 30 (Reuters) - International mining companies operating in Democratic Republic of Congo will resort to legal action if their concerns over a new mining code signed into law in March are not addressed, they said in a letter to the mines minister this week.The letter, reviewed by Reuters, was dated May 28 and copied to President Joseph Kabila. The companies, includ...Read More
The number of electric vehicles (EVs) on roads worldwide is set to more than triple by the end of the decade, growing to 13 million from 3.7 million last year, the International Energy Agency (IEA) said Wednesday.According to Paris-based institution, the total amount of electric cars, including battery-electric, plug-in hybrid electric and fuel cell electric passenger light-duty vehicles, increase...Read More
While the global mining industry is quickly becoming more digitally mature, that transformation continues to focus on productivity and profitability, rather than on much needed innovation, a new study shows.According to Ernst & Young's Digital Mining report, current digital solutions are merely functional or siloed and only address parts of the value chain.Miners should adopt a progressive, multiy...Read More
SHANGHAI, May 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index surged to a high since November last year at 95.03 overnight and closed 0.47% higher from Monday at 94.85 as the euro plunged on concerns of Italy's election crisis. Base metals went down across the board as a result.The White House announced la...Read More
(Bloomberg) -- China’s economy is refusing to slow down without a fight.That’s the picture that emerges this month from a new gauge of economic activity developed by Fielding Chen at Bloomberg Economics, which aggregates the earliest available indicators into one reading for the first time.While an ongoing campaign to curb financial excess and deflate property bubbles is taking its tol...Read More
(Bloomberg) -- China’s economy is refusing to slow down without a fight.That’s the picture that emerges this month from a new gauge of economic activity developed by Fielding Chen at Bloomberg Economics, which aggregates the earliest available indicators into one reading for the first time.While an ongoing campaign to curb financial excess and deflate property bubbles is taking its tol...Read More
* State government ordered smelter's closure* Thirteen killed after police fired on protesters last week* Vedanta left with no option but to take legal action-sourcesBy Krishna N. DasNEW DELHI, May 29 (Reuters) - Vedanta Resources is working on a legal challenge to an Indian state's closure of one of its copper smelters, but it will not proceed until tensions over the deaths of 13 people during...Read More
* Witnesses say police did not warn protesters before opening fire* Police appear to have ignored Indian federal police rules* Two people who died were shot in the face-friends and relatives* Tamil Nadu (NS:TNNP) government has ordered smelter be permanently shut* Last Tuesday's protest got unruly as district offices targetedBy Sudarshan VaradhanTHOOTHUKUDI, India, May 29 (Reuters) - Police in the...Read More