SHANGHAI, Apr 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rose for five consecutive days to a seven-week high and towards 91 overnight as the US 10-year treasury yield inched closer to 3% and as the market raised their anticipation of four interest rates hikes this year. A cooler US-China trade tension also hel...Read More
Investing.com - Gold prices fell to their lowest levels in two weeks on Monday as a stronger dollar and renewed risk appetite dampened demand for the precious metal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $7.10 cents or 0.55% to $1,331.20 a troy ounce by 04:57 AM ET (08:57 AM GMT).The U.S. dollar index, which measures the greenback’s...Read More
The new funds raised came via a combination of 12.5c shares issued with warrants attached (convertible at 25c within three years), and 18c flow-through units with the same warrant entitlement.Aben was trading at 16c at the time of writing, capitalising the company at $10.4 million. It traded up to 49c in mid-September last year.Pettit said Aben was keen to start drilling in the Golden Triangle aft...Read More
It now has full ownership of the project's potential after closing a buy-back of the net smelter returns royalty from Glencore in November for C$11.25 million (US$8.75 million).Highlights of the latest results under the Sprite Zone bog include 6m at 8.36g/t gold from 95m; and a broader 40m at 1.12g/t from 100m.The company said the new bog zone QTP-gold veining was identical to the gold mineralisin...Read More
Last week index score: 44.24 (updated)This week: 21.62Prospero Silver (TSX-V: PSL) announced a non-brokered private placement to raise up to C$1.0 million through the issuance of up to 11.1 million units @ C$0.09. The Oreninc Mining Deal Club sent out its sixth financing alert to its subscribers. Sign up today to get the details and an opportunity to participate: www.miningdealclub.comThe Oreninc...Read More
The proposed acquisition would give Chaarat 50% ownership in Kumtor, including its common equity and management and operation of the mine, while Kyrgyzaltyn would own the mine's preferred equity and be entitled to 50% of its economic benefits.Read More
SHANGHAI, Apr 24 (SMM) – Nonferrous metals fell across the board on Tuesday April 24, as SHFE aluminium led with a loss of 3.69%. SHFE nickel and tin dropped over 1%, copper and lead edged down slightly while zinc dipped.The ferrous complex notched a strong performance except for iron ore. Coking coal and coke rose over 2%, rebar went up over 1% and hot-rolled coil gained 0.77%.Cop...Read More
The company said in its quarterly production report that extraction at its mines had been impacted by the existence of barren rock zones in the areas of the deposits being mined.Read More
SHANGHAI, Apr 24 (SMM)? 1/4 ? Read More
Iron ore production from Minas-Rio fell 30% on the year to 3 million tonnes in the March quarter, with full-year guidance revised down to this level from the previous 13-15Mt, as no material production was expected for the remainder of the year.Read More
Yacimientos de Litio Bolivianos (YLB) would commission a plant late next year with capacity to produce up to 15,000 tonnes of battery-grade lithium carbonate, said the company's executive manager, Juan Carlos Montenegro. A second plant producing 25,000t a year of lithium hydroxide is due to enter production by the end of 2019.Read More
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In an announcement to the Santiago Stock Exchange, Empresas Copec said its subsidiary Inversiones Alxar would pay Minsur US$168.5 million for a 40% stake in Cumbres Andina, which in turn controls Marcobre SAC, the owner of the copper project.Read More
SHANGHAI, Apr 24 (SMM) –Copper: LME copper fell amid the weak performance across the nonferrous complex as the US signalled it could ease sanctions against Rusal. The contract struggled between several moving averages but stood above the 10-day moving average. The SHFE 1806 contract was dragged by its LME counterpart. We expect it to trade at 51,000-51,600 yuan/mt today with LME copper at $6...Read More
The Canadian gold producer will now halt work on a pre-feasibility study for the underground option and focus on a closure plan for the remaining surface infrastructure in line with requirements from Chilean authorities.Read More
In the months immediately following the export ban, Acacia shed half its value; by the time news of the tax claim had settled in, that loss had become two-thirds of its market capitalisation from early in the year. It's been one of the most spectacular examples of how the risks implicit within the mining industry can unravel the value of investments. Another eye-catching disp...Read More
"The pullback on the immediate imposition of Rusal sanctions by the US Treasury gives the aluminium market much-needed breathing space," the aluminium team said.The aluminium price has shot up since the US decision earlier this month to impose sanctions on Russian oligarchs, officials and entities in response to "malign activity" around the globe, as suppliers scrambled to meet demand. It fel...Read More
Orca president Hugh Stuart told Mining Journal this week a "hanging wall mineralisation" discovery could boost resources but would not be included in the FS if it were to be released next month as planned.Read More
Peter Mullens and Gokhan Kantarcigil both resigned, effective immediately, although Mullens will remain involved with the company as a technical advisor.Carlile is a geologist with over 35 years' experience in the resource industry, having held senior executive and director positions with major and junior miners.Noteworthy senior roles include being president of Newcrest Mining's Indonesian and Ph...Read More