Investing.com - Gold prices reversed early gains on Thursday, falling back towards the lowest levels since December as a stronger dollar and rising U.S. government bond yields continued to weigh on demand for bullion.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $3.50 or 0.27% to $1,288.00 a troy ounce by 04:20 AM ET (08:20 AM GMT), off an overn...Read More
* Euro struggles near $1.18 mark* Dollar rise leaves Yen at weakest since January* Emerging market currencies fall overnight* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tommy WilkesLONDON, May 17 (Reuters) - The euro hovered near five-month lows on Thursday as investors fretted about the demands of Italian populist parties and as a fresh rise in U.S. government bond yields underpin...Read More
* Dollar index near fresh 5-month high brushed overnight* GBP up after report UK ready to stay in EU's customs union* Aussie, loonie, kiwi supported by ebb in risk aversion (Adds details and quotes, updates prices)By Shinichi SaoshiroTOKYO, May 17 (Reuters) - The dollar firmed on Thursday after the euro retreated to a five-month low on concerns political developments in Italy could cause wider dis...Read More
He will replace Mick Buffier whose term as chairman ended in May.Kellow joined Peabody in 2013 and became CEO in 2015. He has over 30 years' experience in the global resources industry, holding leading management roles across the industry in coal, copper, nickel, aluminium and steel.Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
SHANGHAI, May 18 (SMM) – SMM assessed imported clean copper concentrate treatment charges (TCs) at $74-81/mt on Friday May 18, up $3/mt from a week ago.Imported copper concentrate supply to Chinese domestic smelters continued to increase as Vedanta's copper smelter at Tuticorin in India remained shut as of May 18, SMM learned. The smelter started a 15-day maintenance from March 27. It is...Read More
On his first visit to Sydney to speak at this week's ResourceStocks Sydney 2018 conference, the Netherlands real-estate investor, author and media commentator who got hooked on mineral-discovery investing when he made an absolute motza riding Aurelian Resources' discovery of Fruta del Norte in Ecuador in 2006, said the Wits and Pilbara systems might not be "brothers … [but] they are nephews...Read More
SHANGHAI, May 18 (SMM) – Total approved copper scrap imports for this year rose to 482,400 mt, after the 12th batch of approvals for restricted solid scrap material imports was released on Tuesday May 15, SMM learned. This is down 83.9% from the total of 11 batches in 2017.Ten companies that imported scrap metals, waste plastics, and waste paper received approval. Approvals we...Read More
London-based Talex Commodities has been hired by the employees of Doe Run Peru to find an investor for the mine.Read More
SHANGHAI, May 18 (SMM) –Copper: LME copper stuck between several moving averages with support at the 40-day moving average overnight. As the US dollar is unlikely to fall from highs in the short term, we see LME copper trading rangebound at $6,850-6,900/mt with the SHFE 1807 contract at 51,000-51,500 yuan/mt during the day. Spot discounts are expected at 100-20 yuan/mt as sellers are likely...Read More
Via the placement at A5c per share, Independence Group (ASX:IGO) will increase its shareholding in Orion to 11.1% from 4.2%, while also securing preferential rights to a joint venture or purchase of Orion's nickel projects in the belt, including the Jacomynspan nickel-copper-cobalt project.It previously subscribed for a $.3 million share placement in Orion and the two companies entered into a JV a...Read More
Greyhorse Mining will acquire an 8% interest for approximately US$20 million, while another 2% will go to a trust benefitting the operation's employees. As part of the transaction, Greyhorse will receive a preferential annual dividend of $500,000 for the first five years, subject to Tsumeb having sufficient available funds and Greyhorse achieving approved performance metrics.Dundee said the...Read More
Thank heavens the Canadian government blocked the bid on national interest grounds as potash prices have been on the skids ever since, something BHP's current CEO Andrew Mackenzie knows well given he ran the failed bid as BHP's head of non-ferrous.Read More
On the back of a material contract win in mining and company announcement today confirming its strong full-year net profit target (circa A$38 million) and balance sheet, Codan shares rose 7.3% by mid-afternoon and have picked up 8.5% in the past week.The company's current market capitalisation is around $524 million.Codan's Minetec business, the focus of considerable investment in the past five ye...Read More
A group of very talented, very experienced and very determined people in the room, from Australia and elsewhere, were all solving some very valuable problems in the mining industry. Sadly, I was not surprised to hear almost all of them cite one of the major difficulties in succeeding as a mining tech start-up was the need to deal with major mining companies as customers.Maptek is a significantly l...Read More
CALGARY, Alberta, May 18, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) is pleased to announce that it intends to extend, subject to the approval of the TSX Venture Exchange, the expiry dates of 10,753,000 outstanding warrants as detailed below. The subject warrants were originally issued in two tranches, on June 9, 2016 a...Read More
An industry that already has challenges attracting and retaining half the available workforce pool - in the form of women - mining now has its work cut out to sell itself to Millennials who make up 27.9% of the current population in Australia and a hefty 37% of the workforce (and growing)."The next largest group is the Baby Boomers at 24.1% and then Generation X at 21.3% [of the workforce]," Lorra...Read More
VANCOUVER/TORONTO, May 17 (Reuters) - The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset.Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources Ltd is designed to bag the Timok project in Serbia, but it had to bring on a partner to pick up Nevsun's Bisha mine in Eritrea.T...Read More
VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) - Without significant improvements to mining practices in British Columbia and better regulation of mining activities, the province has little hope of its natural resources playing a key role in the global transition to a low-carbon future. Instead, communities and the environment throughout B.C. face the prospect of another disaster like...Read More