Miner and commodities trader Glencore is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms.U.S. sanctions on Glencore's former Israeli partner in Congo have been a trigger for litigation. At the same time, relations with the Congolese authorities are under strain from a disput...Read More
Tel Aviv, Israel: 1 May 2018 - An Israeli leader in automated drone technology, Airobotics announced today the beginning of an exclusive distribution partnership with engineering company RockBlast to allow Chilean mining companies to utilize the advanced Airobotics system at mining sites. In the permanent search for new technologies, RockBlast became the first company to introduce a fully autonom...Read More
SHANGHAI, May 3 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index registered three consecutive days of gains and closed at 92.725, up 0.28% overnight.Base metals saw mixed trading. LME copper rebounded from a three-week low, and SHFE copper saw a smaller decline as the expansion in China’s manufacturing sector acc...Read More
* FTSE 100 up 0.3 pct at close* Inmarsat jumps on Q1 results* Basic material stocks shine* Ocado boosted by Swedish partnership deal (Adds details, updates prices at close)By Julien PonthusLONDON, May 2 (Reuters) - British shares traded higher on Wednesday, posting a fifth session of gains in a row as metal prices boosted miners and first-quarter earnings reports lifted the London stock market.T...Read More
* STOXX 600 climbs 0.6 pct* Tech stocks strong after Apple results relief* Miners rise on Chinese factory data* Results drive Inmarsat , Lundin, GN Store higher* DAX boosted by euro fall, Italian stocks near 9-year high (Adds closing prices, details)By Helen ReidLONDON, May 2 (Reuters) - European shares rose on Wednesday, boosted by some strong earnings updates and a rising tech sector after resu...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up, highest in three months* Inmarsat jumps on Q1 results* Basic material stocks rise* Ocado shines with Swedish partnership dealBy Julien PonthusLONDON, May 2 (Reuters) - British shares traded higher on Wednesday, set for a fifth session of gains in a row as metal prices pushed basic material stocks higher and fu...Read More
Investing.com - Gold prices rebounded from two-month lows on Wednesday as the dollar pulled away from multi-month highs amid profit taking ahead of the conclusion of the Federal Reserve policy meeting later in the day.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $4.10 or 0.31% to $1,310.90 a troy ounce by 04:10 AM ET (08:10 AM GMT).Prices of the...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, May 2 (Reuters) - European shares rose on Wednesday, boosted by some strong earnings updates and a rising tech sector after results from Apple exceeded weak expectations, while investors' focus turned to euro zone GDP figures and the U.S. Fed meeting.Shares in iPhone supplier ams AMS.S jumped 8.1 percent after Apple AA...Read More
Cypress Development Corp. (TSX-v: CYP) / (OTCQB: CYDVF) / (Frankfurt: C1Z1) killed it with their maiden NI 43-101 compliant lithium resource estimate yesterday! The whisper number was 4 to 6 million Inferred tonnes of Lithium Carbonate Equiv. ("LCE"), (which would have been a tremendous result), but Global Resource Engineering Ltd. determined there's an estimated 6.54 million metric...Read More
All of the asteroid plays have so far been private companies, so their promises are light on the detail required of those going to the public for money.This week, astrophysics researcher at Liverpool John Moores University and Asteroid Mining consultant Amanda Jane Hughes described in The Conversation what it might take for her employer to get to the mining stage.As usual, the key part is finding...Read More
SHANGHAI, May 3 (SMM) – Just one company received approval to import copper scrap in the 11th batch of approvals for restricted solid scrap material imports released on Thursday May 3, SMM learned.The company, located in Qingyuan city in Guangdong province, was approved to import 6,862 mt of copper scrap this year. Overall approved copper scrap imports in the 11 batches this y...Read More
The underground estimate puts Cariboo's resource at a measured and indicated 8.1 million tonnes at 6.1g/t for 1.6 million ounces and an inferred 12.7Mt at 5.2g/t for 2.16Moz, using a 3g/t cut-off.Read More
SHANGHAI, May 3 (SMM) – Nonferrous metals futures mostly inched up except for zinc on Thursday May 3. SHFE aluminium rose nearly 1%, while copper, lead, nickel, and tin went up slightly.The ferrous complex also rose for the most part. Coke gained over 1.5%, coking coal and iron ore grew more than 1%. Hot-rolled coil fell nearly 1%, and rebar edged down.Aluminium: As LME aluminium g...Read More
Among the latest drilling highlights at Bug, it hit 0.73m at 87g/t gold down plunge at the South Zone."The re-emergence of high-grade vein style mineralisation in the hanging wall region of the South Zone as we proceed to depth is encouraging, as is the continuity of the South and Horsefly Zones outside the recently-defined resource shells," president and CEO Darin Wagner said.However while Balmor...Read More
Centamin sold 131,045 ounces of gold in the quarter, down 15% on the December period but up by the same amount compared to 2017.Read More
SHANGHAI, May 3 (SMM) – Spot copper in the Shanghai market was offered at a discount of 50-10 yuan/mt against the SHFE 1805 contract on the morning of Thursday May 3, SMM learned.This is down from a discount of 20 yuan/mt to a premium of 20 yuan/mt in the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our re...Read More
Glencore (LSE:GLEN) was close behind, up 3.16%, and Rio Tinto (LSE:RIO) gained 2.93% following the release of positive manufacturing data out of China.Still in the UK, the LSE yesterday said it had postponed the suspension of En+ Group's global depositary receipts after the US extended the deadline for compliance with sanctions.En+ chairman Lord Barker of Battle welcomed the extension and said he...Read More
SHANGHAI, May 3 (SMM) –Copper: As the US dollar index rebounded to a fresh high, LME copper traded rangebound overnight and SHFE copper’s trading range fell slightly. We expect LME copper to trade at $6,770-6,820/mt today with the SHFE 1806 contract at 50,800-51,200 yuan/mt. In the physical market, offers are stabilising as futures consolidate. Spot discounts are seen at 60-20 yuan/mt....Read More
The year-on-year drop was 7% and the last time demand was lower in the January-March period was 2008, according to the World Gold Council's Gold Demand Trends report for the March quarter.It attributed the low level to falling investment demand for gold bars and gold-backed exchange-traded funds (ETFs) and a subdued gold price.Total investment demand for the quarter was 27% lower on the year at 28...Read More