(Bloomberg) -- Aluminum headed for the highest close since January, extending its hottest three-day streak since 2009, after top exchanges said they’ll stop accepting metal from United Co. Rusal (HK:0486), deepening supply fears after the U.S. slapped sanctions on the Russian group.The metal advanced 1.4 percent to $2,231 a metric ton on the London Metal Exchange by 2:56 p.m. in Shanghai. Th...Read More
(Adds comments from Vedanta, background, shares)April 11 (Reuters) - Vedanta Resources Plc VED.L said on Wednesday its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.Billionaire Anil Agarwal-controlled Vedanta said on Tuesday its application for ren...Read More
Investing.com - Gold prices pushed higher on Wednesday as a combination of concerns over ongoing trade tensions between the U.S. and China and the prospect of a U.S. military strike in Syria bolstered safe haven demand for the precious metal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $1.7 or 0.13% to $1,347.60 a troy ounce by 04:21 AM ET (08:21...Read More
Speaking at the World Copper Conference in Santiago, Chile, the executive said the company planned to begin construction of a new concentrator plant at the Mantoverde mine early next year once it had raised finance.Read More
April 11 (Reuters) - Vedanta Resources Plc VED.L said on Wednesday its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.Vedanta said on Tuesday its application for renewal of consent to operate its copper smelting plant, one of India's biggest, in the...Read More
Jadish Laddhra, CEO of Birla Copper, said accessing clean concentrates was one of the main challenges facing India's copper smelting industry.Read More
Previous CFO Nigel Robinson was promoted to CEO, while business development director Gavin Ferrar was moved into the CFO position, with both changes effective April 16.Robinson joined CAML in November 2007 as group financial controller and has been CFO since April 2009. He previously worked for six years as management for British Airways and prior to this he worked at KPMG.He was also formerly a r...Read More
SHANGHAI, Apr 12 (SMM) – Nonferrous metals futures were weaker for the most part except for SHFE nickel. Zinc plunged nearly 3.6%, copper lost over 1%, tin fell almost 1%, while aluminium and lead slipped.The ferrous complex also closed lower, except for hot-rolled coil. Coking coal slid nearly 4%, coke dropped 3%, iron ore fell nearly 1%, and rebar edged down.Copper: SHFE copper was dragged...Read More
Resources now total 209,265t of contained lithium oxide - 20.46 million tonnes grading 1.02% lithium oxide - with 86% of the new estimate in the measured and indicated categories.Read More
SHANGHAI, Apr 12 (SMM) – China’s sales of new-energy vehicles (NEV) in the first quarter pf 2018 more than doubled year on year as demand grew, according to China Association of Automobile Manufacturers (CAAM).From January to March, sales of NEVs stood at 143,000 units. This is up 154% from the first quarter of 2017. Output for January-March 2018 stood at 150,000 units,...Read More
The pit-constrained resource comprises an indicated 3.65 million tonnes at 5.18% zinc equivalent and an inferred 32.98Mt at 5.03% ZnEq.Read More
SHANGHAI, Apr 12 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightWeighed down by potential US military action in Syria, the US dollar index edged down slightly and hovered around 89.5, but received some support from the Fed’s March meeting.The Syria factor also depressed base metals except for LME aluminium. LME aluminium...Read More
The company produced 285,851 carats in the March quarter, dropping 26% year-on-year, from 562,520 tonnes of ore processed, up 34%, at an average grade of 51ct per hundred tonnes, which compared to a grade of 92cpht a year ago.Read More
SHANGHAI, Apr 12 (SMM) –Copper: LME copper registered a loss overnight, along with its Shanghai counterpart. We see it trading at $6,910-6,960/mt today. With strong support from the five- and 20-day moving averages, the SHFE 1806 contract is likely to trade at 50,800-51,500 yuan/mt with spot prices ranging from a discount of 40 yuan/mt to a premium of 20 yuan/mt today.Aluniniu...Read More
The miner has 2.3 billion shares on issue and a current price of £0.0165 (US$0.024) per share following a December placing to pay for the Calcatreu project in Argentina.Read More
The stone is the third biggest diamond ever to be recovered at the mine and the fourth over 100ct to be discovered so far this year.It recovered 218 diamonds over 10.8ct during the March quarter, the third highest quarterly haul on record, with at least eight of these being exceptional stone tender-qualifying diamonds.Lucara CEO Eira Thomas said the company was focused on mining at Karowe's high-v...Read More
The mine in Mali started commercial production in November and has continued to perform above plan, helping to up the company's consolidated gold production 81% compared with the same period last year to 239,684 ounces.Read More
The new equitable economic empowerment framework (NEEEF) was meant to be similar to South Africa's broad-based black economic empowerment (BBBEE) laws, but president Hage Geingob did away with the 25% equity stake idea in his state of the nation address Wednesday, saying it would not translate into broad-based empowerment.He said most Namibians, especially previously disadvantaged people, would no...Read More
The gold major produced 85 million pounds of copper for the quarter, which had an average market price of US$3.16 per pound."The company's first quarter realised copper price is expected to be approximately 5% below the average first quarter market price for copper, as a result of provisional pricing adjustments that reflect the downward trend in copper prices over the period," the company said.It...Read More