While manganese ore production for the March quarter dropped by 10% over the December period, output for the first nine months of the financial year rose by 13% to 4.2 million tonnes.Read More
SHANGHAI, Apr 19 (SMM) – Nonferrous metals futures carried over their strong performance today, with SHFE nickel surging over 4% and aluminium jumping over 3%. Zinc gained close to 3%, copper rose over 2%, lead went up over 1%, and tin inched up slightly.The ferrous complex also rose across the board. Iron ore led a gain of 6.5%, coke surged over 3%, coking coal rose 2.5%, with rebar up 2% a...Read More
Iron ore shipments for the quarter were 58 million tonnes, up 8% year-on-year, but down by 6% quarter-on-quarter.UBS had forecast a strong rise in shipments to 68Mt, with BHP even missing RBC Capital Markets' more conservative estimate of 61Mt.The company said the result was impacted by unplanned car dumper maintenance issues, with work now underway to improve availability.Production for the nine...Read More
However its iron ore production guidance was reduced, due to car dumper issues, and its Olympic Dam guidance was also reduced after a slower than planned ramp-up following major smelter maintenance.Its full year guidance for petroleum and coal were unchanged and its copper-equivalent production was expected to rise 6%.On the other side of the world and at the smaller end of town, junior Goldex Res...Read More
SHANGHAI, Apr 19 (SMM) – Spot copper in the Shanghai market was offered at a premium of 270-350 yuan/mt over the SHFE 1805 contract on Thursday April 19. This compared with a premium of 260-330 yuan/mt in the previous day.Sellers raised offers to a premium of 350 yuan/mt in the morning as SHFE copper gained nearly 1,000 yuan/mt overnight. However, premiums were lowered to 260-300 yuan/m...Read More
The programme, called GemFair, will create a secure and transparent route to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds."GemFair will use dedicated technology to record ASM production at mine sites that meet demonstrable ethical standards, with the aim of purchasing rough diamonds from approved locations while helping improve working conditions and livelihoods for...Read More
SHANGHAI, Apr 19 (SMM) – China will ban imports of 16 more scrap metal and chemical waste products from December 31, 2018, according to release by the Ministry of Ecology and Environment (MEE) on Wednesday April 19. This includes Category Seven copper scrap materials, such as waste electric motors, that account for two-thirds of China's imports of copper scrap. W...Read More
The 2017 first-quarter production level was 205,314oz Ag-eq.Excellon said the 100%-owned mine in Durango, Mexico, produced 194,462oz of silver (up 80% on Q1 2017), 2.3 million pounds of zinc (plus-158%), and 1.3Mlb of lead (plus-109%)."We worked through challenges early in the quarter and had an excellent finish, exceeding our previously indicated projections," Excellon president and CEO, Brendan...Read More
SHANGHAI, Apr 19 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar inched up slightly overnight, buoyed by the rise in US treasury yield rate and the upbeat economic growth.Base metals rose across the board. LME aluminium hit a fresh high since August 2011 with a 5.7% increase. LME nickel surged close to 7% and hit a three-ye...Read More
SHANGHAI, Apr 19 (SMM) –Copper: A strong LME copper provided support to SHFE copper overnight. Technically, LME copper stood above 10-day moving average and tested above the 60-day moving average. It is likely to trade at $7,000-7,060/mt with the SHFE 1805 contract at 51,500-52,000 yuan/mt today. As prices of futures gained, spot prices offered are likely to dip with premiums expected a...Read More
The deal is part of Weir Group's focus on positioning itself as a mining services provider with mission critical market offerings from extraction to concentration.To better align with this approach, Weir will also be selling its Flow Control division, which makes valves. It wants to focus its portfolio on highly abrasive after-market applications in minerals and oil and gas.Esco is a 105-year-old...Read More
19 April 2018 - RCT has helped the world's largest underground copper mine, El Teniente, successfully and safely mine in mud, in what is believed to be a world-first mining method in these conditions.This impressive feat was facilitated by the company's specialised department, RCT Custom. The bespoke team helped deliver a state-of-the-art ControlMaster (R) Automation solution allowing the copper...Read More
Argentina's Deputy Secretary of Mining Policy, Mario Capello, said today that both the federal and the provincial governments have to work together towards relaxing the Glacier Law so that it becomes easier to develop Patagonia's massive copper deposits.According to the state-owned news agency T?(C)lam, Capello said that such deposits have the potential for producing 1 million tonnes of the red me...Read More
BHP Billiton Ltd cut its 2018 fiscal year iron ore output guidance on Thursday citing issues in its railroad car unloading system, while reporting an 8 percent rise in third-quarter iron ore production.The miner cut its fiscal 2018 production guidance to between 272-274 million tonnes of iron ore from 275-280 million tonnes.It also narrowed its full-year copper guidance to 1.70-1.785 million tonne...Read More
The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices.In the past decade, Southern Copper Corp and Newmont Mining Corp have shelved proposed mines in Peru because of opposition from communities worried about...Read More
* Potential for cobalt at Western Australian operations* Could also take cobalt from third parties* May double nickel sulphate output to 200,000 TBy Tom DalySHANGHAI, April 18 (Reuters) - BHP Billiton is expanding its business as a supplier of battery minerals at its nickel refinery in Western Australia, planning to start producing nickel sulphate next year and looking at cobalt output as well, a...Read More
Nickel surged to a more than three-year high amid growing fears that Russia's Norilsk Nickel, top producer of the metal, could be the next victim of US sanctions against Russia that has already caused chaos on aluminum markets.Nickel, used primarily in steelmaking, jumped as much as 4.6% to $14,870 a ton on the London Metal Exchange, the highest level since February 2015. Bullish sentiment was...Read More
The same hole intersected 1.05m at 367g/t and 2m at 21.96g/t.The results are from a diamond drilling programme at Zone 1 at the advanced exploration project, designed to increase the resource and test deeper targets and areas beyond the resource boundary.The company said 12 of the 13 reported holes had hit mineralisation but the extent of drilling was limited to avoid intersecting underground work...Read More
Investing.com - Gold prices drifted lower on Tuesday, as investors wagered U.S.-led attacks on Syria would not escalate into a wider conflict in the Middle East, dampening demand for the safe-haven asset.While Saturday's missile strikes were the biggest intervention by Western countries against Syria, investor risk appetite improved on speculation that the attacks would not lead to prolonged confl...Read More