Investing.com - Gold prices will remain vulnerable to further gains in the dollar this week after the precious metal ended slightly higher on Friday but still notched up a third straight week of declines, weighed down by a stronger dollar.Metals traders will be awaiting updates on U.S. producer price and consumer price inflation on Wednesday and Thursday, respectively, amid ongoing speculation ove...Read More
President and CEO Trent Mell said the 2018 drilling programme would continue targeting 15 areas with historic mines but the Kerr area was now a high priority for exploration.Among the latest highlights, 4.6m at 0.27% cobalt included 1.8m at 0.56% cobalt and 0.47% copper.The company also intercepted 8m at 31g/t silver in the same vein network which highlighted "the potential for undi...Read More
SHANGHAI, May 7 (SMM) – Nonferrous metals futures rose for the most part on Monday May 7 as SHFE zinc led the gains with an increase of nearly 2.3%. Lead grew 2%, aluminium and nickel inched up, and copper went flat. Tin dipped slightly.The ferrous complex saw coking coal surge almost 4%. Coke gained over 2%, while hot-rolled coil and iron ore inched up. Rebar went down slightly.Copper: The...Read More
The rise took its market capitalisation to C$1 billion.The company was created by Watusi Capital Corp exchanging shares for an option over a portfolio of Altius Minerals' copper-gold projects in Chile.Aethon said it had C$8 million (US$6.2 million) in cash and no debt and its most advanced property Arcas was contiguous to projects being explored by Antofagasta Minerals and Anglo American.At the bi...Read More
SHANGHAI, May 7 (SMM) – Spot copper was mostly offered at a discount of 10 yuan/mt to a premium of 40 yuan/mt over the SHFE 1805 contract on Monday May 7 in the Shanghai market. This compared with a discount of 30 yuan/mt to a premium of 10 yuan/mt last Friday.High-quality copper saw more trades as traders were keen to purchase due to the approaching delivery date for SHFE 1805 contract...Read More
SHANGHAI, May 7 (SMM) –Copper: Copper prices were suppressed by stronger US dollar over the weekend. Technically, LME copper now stands at the $6,840/mt level with pressure from several moving averages, but the SHFE 1806 copper contract still stands below the moving averages with little support. We expect the SHFE 1806 contract to trade at 51,200-51,600 yuan/mt today. Spot prices are seen hi...Read More
Sprott has provided the senior secured credit facility which EMX intends to use for corporate and working capital.Read More
The Nyngan and Flemington royalties were two of a number Jervois has been looking to sell as it focuses on its Nico Young laterite cobalt-nickel project in New South Wales - where a prefeasibility study is due at the end of next quarter.Read More
Goldcorp last month conditionally agreed to take a 14% stake in the new Quebec Precious Metals Corp, being created by a merger of Canada Strategic Metals and Matamec Explorations.As part of the arrangement, the new company will acquire Sphinx Resources' three gold projects, including the Chemin Troilus project which Durango noted was north-east of its Découverte property."James Bay is...Read More
Orica has reported a first half statutory net loss of A$229 million on 4% lower revenues of A$2.53 billion, year-on-year for the six-month period ending March 31, with earnings before interest and tax (EBIT) down 20% yoy to $252 million.In Australia, Pacific and Asia - which makes up for 60% of Orica's business - volumes and revenues rose 10% and 8%, respectively, however EBIT was down 3%."The sta...Read More
With the support of EarthRights International, the Peruvian Chaupe Family announced this week that they intend to appeal a recent decision by a federal court in Delaware that ruled that their case against Newmont Mining Corporation (NYSE:NEM) should be heard in Peru - not Delaware, where the company incorporated almost 100 years ago.In a press release, EarthRights said that the Chaupes will fight...Read More
Seven of the thirteen gold miners who were trapped underground since Thursday at Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) mine in South Africa have died as a result of their injuries, the company confirmed Saturday.The workers got stuck at the company's Masakhane mine, part of the Driefontein operations following a quake that caused a fall of ground in an operating stope.The deaths brings the nu...Read More
* Dalian exchange allows foreign investors to trade iron ore* Volume in most-active contract slightly above April average* Second Chinese commodity opened to overseas traders after oil* China to open more markets to expand influence - official (Adds Glencore and Trafigura carrying out first trades)By Muyu Xu and Manolo Serapio JrDALIAN/MANILA, May 4 (Reuters) - China plans to open more of its fu...Read More
Investing.com - Gold prices moved lower in early morning European trade on Friday as investors looked ahead to the U.S. employment report for April and a slightly stronger dollar weighed on the precious metal. Comex gold futures dropped $3.00, or 0.23%, at $1,309.70 a troy ounce by 4:30AM ET (8:30GMT). Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-...Read More
Diversified miner Anglo American said on Friday it will end its investment in deep sea mining company Nautilus Mining."We are exiting our small minority shareholding in Nautilus, as part of the prioritisation of our portfolio on our largest and greatest potential resource assets," Anglo spokesman James Wyatt-Tilby said, confirming a report in the Financial Times.Anglo has a 4 per cent stake in Tor...Read More
Four miners have died, three remain stuck underground and two are still missing at one of Sibanye-Stillwater's (JSE:SGL) (NYSE:SBGL) gold mines in South Africa following a quake caused a fall of ground Thursday, trapping a total of 13 workers.Two more quakes were felt Friday near the Masakhane mine, part of the company's Driefontein operations, where three of the workers remained trapped and two u...Read More
SHANGHAI, May 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index traded rangebound around 92.4 overnight, buoyed by the upbeat economic data. The market was also looking more cues from US-China trade talks.Most LME metals fell, but copper rebounded and hit a weekly high as inventories declined. LME zinc tumbled 1.3% to...Read More
May 3 (Reuters) - Vedanta Ltd VDAN.NS , the Indian unit of diversified mining group Vedanta Resources Plc VED.L , posted an 81 percent surge in quarterly profit on Thursday, helped by higher volumes and favourable commodity prices.Net profit came in at 48.02 billion rupees ($721.02 million) for the three months ended March 31, compared with 26.47 billion rupees a year earlier, the company said i...Read More
Investing.com - Gold prices moved higher on Thursday, buoyed by a slightly softer dollar but the upside for the precious metal looked likely to remain limited ahead of Friday’s U.S. employment report, which could provide fresh impetus to the dollar.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $4.40 or 0.34% to $1,310.20 a troy ounce by 03:5...Read More