SHANGHAI, Apr 26 (SMM) –Copper: The copper market saw rangebound trading overnight. LME copper stood above all the moving averages with support from the five- and 10-day moving averages. SHFE copper’s trading level slightly rose to between the five- and 60-day moving averages with the 10-day moving average expanding upwards to adhere to the 40-day moving average. We expect LM...Read More
Strategic announced the acquisition in October last year, with Resilience Mining Australia having only bought it from PNX Metals the previous November. The acquisition was completed earlier in April when it issued 41.6 million shares worth A$1.45 million to Resilience.Read More
Mincon said this week recent acquisitions had contributed little of the sales uplift so far, with stronger markets driving organic growth.The manufacturer said while gross Q1 margins "came down a couple of points compared to last year in Q1 to 37% as opposed to the 40% of 2016", a small adverse foreign exchange charge couldn't prevent profit before tax from increasing to 10.8% compared with 9.8% a...Read More
Officially launched last month, the Tradewind platform integrated exchange technology with a "tailored blockchain application", VaultChain Gold, to facilitate trading, settlement and ownership of physical gold.IAMGOLD said in its statement that the platform "securely digitizes vaulted precious metals for the first time, removing structural, technical and frictional limitations from the physical go...Read More
Copper output rose 29% year-on-year to 67,300 tonnes, while gold production increased 17% to 49,900 ounces.Read More
Following the completion of a pre-feasibility study on the NuevaUnión project, the companies were preparing to begin work on the definitive feasibility stage which they aimed to complete next year, Goldcorp said in its latest quarterly results.Read More
The Critical Investor profiles a miner that is ramping up its gold mine in Nevada on time and on budget.Pan Mine, Nevada1. IntroductionFiore Gold Ltd. (F:TSX.V; FIOGF:OTCQB) has progressed its Pan Mine in Nevada, U.S. in a very steady fashion, on time and on budget. Exploration for additional resources (and hopefully years of mine life as well) has been successful so far, and a new COO has been...Read More
Southern Copper Corp's chief executive said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4 billion Tia Maria project with a legal injunction.Southern Copper's Oscar Gonzalez told Reuters he hoped the new government of Peruvian President Martin Vizcarra would issue a permit "soon" to allow construction work on the long-delayed project to begin t...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) dove Wednesday after the company reported marked drops copper and gold production during the first quarter of the year, due mostly to lower quality ore.Miner said it had expected to begin the year with poorer grades, but would move to higher quality ores as the year went on.The miner said copper output fell by 10.5% to 153,800 tonnes compared w...Read More
(Adds SS&C Technologies, Fortis Healthcare)April 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Tuesday:** Canadian telecommunications gear maker Mitel Networks Corp MITL.O MNW.TO is selling itself to an investor group led by Searchlight Capital Partners for about $2 billion, the company said. Software company Trimble Inc TRMB.O said on Mond...Read More
Investing.com - Gold was higher on Tuesday, as the U.S. dollar fell and U.S. Treasury yields rose.Comex gold futures for June delivery were up 0.54% to $1,331.10 a troy ounce as of 10:18 AM ET (14:18 GMT).The price of bouillon was supported by a slightly weaker greenback. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.10% to 90...Read More
Investing.com - Gold prices pulled away from two-week lows on Tuesday, but struggled to make headway as a stronger dollar continued to weigh on demand for bullion.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $3.80 or 0.29% to $1,328.00 a troy ounce by 04:34 AM ET (08:34 AM GMT).Gold plumbed a two-week low of $1,323.80 on Monday and ended the day...Read More
(Adds company news item,futures)April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 10 points higher at 7,409 on Tuesday, according to financial bookmakers,with futures FFIc1 up 0.10 percent ahead of the cash market open.* ANGLO AMERICAN: Anglo American AAL.L said it expected iron ore operations at Minas-Rio in Brazil, closed because of pipeline leaks, to ramp up in the fourth qu...Read More
April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 10 points higher at 7,409 on Tuesday, according to financial bookmakers.* GLENCORE: Shares in Glencore-owned GLEN.L Katanga Mining Ltd KAT.TO lost half of their value on Monday and cobalt markets were on alert after the company said the Democratic Republic of Congo's (DRC) state-owned mining company had taken steps to dissolve its...Read More
Heap leaching has become a popular method of extracting gold, writes mining consultant Nicolaas C. Steenkamp and Leon Louw, writer, editor and specialist in African affairs and mining.Heap leaching is used to extract gold, copper, silver, uranium, and iodine. This method was first employed to extract copper at the Bluebird mine in the US in the early 1960s, and then by several gold mines in the we...Read More
The company got a 2.63% kick to its share price, closing at 20c Tuesday to take its market value to circa C$12.7 million, after the PEA showed a high-grade opencut mine and conventional silver processing circuit at Diablillos could yield a 30.2% IRR and US$212 million after-tax NPV (using a 7.5% discount rate) producing an average 9.8 million silver-equivalent ounces (70% silver, 30% gold) a year...Read More
The miner dropped its total full-year attributable equivalent gold production to 2-2.05 million ounces from the previously planned 2.08-2.10Moz, due to full-year output expectations from South Deep falling to 244,000oz from the initial 321,000oz.Read More
Total production for the quarter dropped 7% on the year to 9,188 ounces, generated from the processing of 43,145 tonnes of ore, up 3%, at an overall average grade of 7.04g/t, down from 7.62g/t in the same period a year ago.Read More
SHANGHAI, Apr 25 (SMM) – Nonferrous metals fell across the board on Wednesday April 25 except for SHFE copper. SHFE zinc dropped over 1%, lead lost 0.76%, tin and aluminum edged down and nickel dipped.The ferrous complex also fell, except for rebar. Iron ore dropped 1.58%, coking coal slid 1.44% and hot-rolled coil and coke dipped.Copper: As the US dollar gained, the SHFE 1806 contract hover...Read More
SHANGHAI, Apr 25 (SMM) – Jiangsu province will undertake a month-long, joint environmental inspection across eight cities along the Yangtze River from Tuesday April 24, the Jiangsu Provincial Environmental Protection Office said on Monday April 23.To protect and preserve the ecology along the river, inspections will be conducted in Nanjin, Wuxi, Changzhou, Suzhou, Nantong, Yangzhou...Read More