Ask some gold bugs why Gold has not broken out yet and you will probably get the usual answers. Some will say it's due to manipulation or price suppression. Others will mention the current rally in the US Dollar (while neglecting that the previous decline in the greenback was unable to take Gold to a new high). Few would say the fundamentals are not in place. No one can know for certain but Gold's...Read More
Concrete installation for the mill foundation at Wahgnion in Burkina Faso is scheduled for this month and Teranga is aiming for first gold from the project before the end of 2019.Read More
The 200kg of concentrate was produced after production from a pilot plant was reprocessed through a polishing circuit, with samples now being sent to potential customers for assessment.Black Rock said the "value proposition" for high-grade concentrate had recently been made by Syrah Resources, which is reportedly now targeting grades of 97-98%."Being able to generate ultra-high grade product using...Read More
SHANGHAI, May 8 (SMM) – Nonferrous metals futures rose for the most part on Tuesday May 8 but at slower rates from the previous day. SHFE zinc led the gains with an increase of 1.34%, lead grew over 1% and aluminium and copper inched up. Nickel fell from highs to close nearly 1% higher. Tin dipped nearly 0.9% from Monday.The ferrous complex saw mixed&n...Read More
Ivanhoe executive chairman Robert Friedland said the company wanted to build some of the "greenest" mines in the world.Under the memorandum of agreement with the Mogalakwena local municipality, Platreef will receive a minimum of five million litres of treated water a day for 32 years, beginning in 2022, from the town of Mokopane's new Masodi Treatment Works.Ivanplants will provide up to US$19.6 mi...Read More
The actual listing of the bonds in Luxembourg is still reliant on the Ethiopia government handing over a promised $20 million and Kefi finding another $30 million in equity investment.Read More
SHANGHAI, May 8 (SMM) – China’s imports of unwrought copper and copper products rose 46% year on year in April as demand for refined copper was bolstered by tighter supplies of copper scrap imports, SMM believed.China imported 439,000 mt of unwrought copper and copper products in April, flat from March, according to data from China Customs. Imports of unwrought copper and cop...Read More
The company revealed high-grade intercepts, including 44m at 5.37g/t gold from 99m, about 40m below the base of the previously planned openpit at the Kunche deposit.Its shares were up more than 56% in afternoon trade at 3.6c.Meanwhile, the gold price continues to hover around the US$1,313 per ounce mark and in the US, gold major Newmont Mining (NYSE:NEM) managed a slight gain yesterday of 0.5...Read More
SHANGHAI, May 8 (SMM) –Copper: The strong US dollar suppressed copper prices overnight. The SHFE 1807 contract fell to a low of 51,220 yuan/mt from open at 51,630 yuan/mt and closed at 51,250 yuan/mt. SHFE copper now struggles among moving averages with support from the 40-day moving average. We expect the SHFE 1807 contract to trade at 51,150-51,600 yuan/mt today with LME copper at $6,820-6...Read More
According to Thomson Reuters' GFMS Gold Survey 2018, jewellery fabrication rose 13% on the year to 2,214t, mainly due to a 58% increase in demand from India as the market stocked up before the good and service tax is implemented mid-year.Read More
It produced 824,000 ounces of gold during the three-month period, down 0.7% year-on-year, although all-in sustaining costs dropped 3% on the year to US$1,029 per ounce.Read More
The 25.97-carat rough "ÄRE Emerald" is among 850 carats of "high quality gemstones" recovered in 214 tons of material extracted to date. That material yielded 1,831 carats of rough emeralds in total, according to Fura, which wants to sample 30,000t over the balance of the year."Work has also already commenced on the maiden mineral resource at Coscuez, and we are hoping to have this completed...Read More
It said Monday all 13 mineworkers trapped underground after a rock fall from a seismic event measuring 2.2 on the Richter scale Thursday had been recovered, but seven had passed away from their injuries, up from the four reported Friday.Read More
The company said early this week it had resumed the filtering of copper concentrates between the mine and the port on May 5 after successfully clearing a blockage.Read More
Gold output at Pickstone-Peerless climbed 4% from the previous quarter to a record 6,326 ounces, with 6,549oz sold during the three-month period, up 14%.Read More
As a general rule, the most successful man in life is the man who has the best informationGeology"Geologists are scrambling to understand what created the phenomenal concentrations of gold at the Valley of the Kings discovery of Pretium. Recent drill results include 0.5 meters that carried 41,582 grams per tonne gold (1.6 feet at 1,213 ounces per ton of gold). Another hole hit 2,393 g/t gold 1,6...Read More
LUSAKA, May 7 (Reuters) - Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5 billion Zambian kwacha ($8 billion), its revenue authority said on Monday.First Quantum, which owns two copper mines in Zambia, said in March that Zambia's tax agency had demanded the taxes, saying they were on import duties, pena...Read More
Photo: Agreement signing attended by (from left) Ivanplats Managing Director Dr. Patricia Makhesha (standing); Ivanhoe Chief Financial Officer Marna Cloete (seated); Municipal Technical Director William Nkuna; Acting Municipal Manager Marcus Mthombeni; and Mogalakwena Mayor Andrina Matsemela. (Image from Ivanhoe Mines Ltd.)MOKOPANE, South Africa, May 07, 2018 (GLOBE NEWSWIRE) - Robert Friedland,...Read More
SHANGHAI, May 7 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index surged and hit a four-month high at 92.90 last Friday, given the upbeat economic outlook, despite the nonfarm payrolls came out below expectation.Most base metals rose as the US-China trade negotiations made some progress. LME aluminium jumped 2.6% an...Read More