The options for mining companies battling new legislation in the Democratic Republic of Congo - Africa's biggest copper producer and the source of two-thirds of the world's cobalt - have just about run out.After six months of lobbying, companies including Glencore Plc and Randgold Resources Ltd. have got nowhere in their battle to push back against the mining law, which voids existing agreements a...Read More
Its shares touched a 52-week high of C$3 on the news intraday, before easing to close up more than 5% to $2.80.A Phase III drilling programme is underway at the property in Sonora with a planned end of July cut-off for inclusion in a resource update.CEO N. Eric Frier said the confirmed discovery of continuous, high-grade mineralisation in the Granaditas Vein increased the near-surface, high-grade...Read More
SHANGHAI, Jun 13 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index closed at 93.8 overnight, up 0.26%. The index rose over 0.3% at one point after the “truly historic” US-North Korea Summit.Base metals fell across the board overnight.China’s total social financing growth declined to 760.8 billion yuan...Read More
* FTSE 100 down 0.4 pct* Centrica (LON:CNA) leads index after Jefferies upgrade* Crest Nicholson falls 5 pct after margin hit* Housebuilders decline* Domino's tumbles after CFO departure (Updates prices, adds details, quotes)By Helen ReidLONDON, June 12 (Reuters) - Losses in miners and oil majors sent Britain's top share index into the red on Tuesday, while housebuilding stocks tumbled after w...Read More
* STOXX 600 up 0.2 pct* Google (NASDAQ:GOOGL) tie-up boosts Carrefour * Trump-Kim nuclear pledge has little impact (Updates prices, adds details)By Danilo Masoni and Helen ReidMILAN/LONDON, June 12 (Reuters) - European stocks fell on Tuesday, pulled down by commodities stocks, but retailers gained after Carrefour signed an online shopping partnership with Google.The pan-European STOXX 600 .STOXX...Read More
Investing.com - Gold prices were little changed in midmorning trade tracking caution also seen in the dollar as the Federal Reserve’s two-day policy meeting kicked off on Tuesday.At 10:40AM ET (14:40GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 70 cents, or 0.05%, to $1,302.50 a troy ounce.On the geopolitical front, U.S. President Do...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.3 pct* Crest Nicholson falls 5 pct after margin hit* Domino's tumbles after CFO departureBy Helen ReidLONDON, June 12 (Reuters) - Losses in miners and oil majors sent Britain's top share index into the red on Tuesday, while housebuilding stocks tumbled after weak results from Crest Nicholson piled extra pre...Read More
MILAN, June 12 (Reuters) - European shares rose on Tuesday to their highest level in almost a week with Casino CASP.PA leading the surge as investors warmed to the supermarket's plans to sell assets.Its shares rose more than 8 percent, leading gainers in Europe, after the French group said it aimed to complete 1.5 billion euros of asset sales by early 2019 to reduce its heavy debt burden. CARR.P...Read More
(Adds company news and futures)June 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,747 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.21 percent ahead of the cash market open.* BOOHOO: British online retailer Boohoo BOOH.L said its combination of fast fashion at low prices had got the group off to a strong start to the year, confirming its...Read More
June 12 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 10 points at 7,747 on Tuesday, according to financial bookmakers.* BHP: Unionized workers at BHP's BLT.L BHP.AX Spence copper mine in northern Chile agreed on Monday to a new collective labor contract, the company and the union said. RANGER DIRECT: Two large investors in Ranger Direct Lending Fund RDL.L , Oaktree Capital Manag...Read More
Marchuk joined the EuroChem board in December 2017 as a non-executive director and is also on the board of SUEK where he was CFO and deputy CEO between 2011 and 2016. He was the CFO of Ukralkali between 2004 and 2010, sitting on the board from 2007.EuroChem CEO Dmitry Strezhnev said Marchuk had worked closely with the group and was well known by its financial stakeholders.Read More
SHANGHAI, Jun 13 (SMM) – Nonferrous metals fell across the board on Wednesday June 13 as SHFE tin led losses with a decline of over 3%. Aluminium closed over 1.5% lower, copper lost nearly 1%, zinc fell 0.7%, and nickel inched down. The ferrous complex, except for coking coal, rose across the board. Coke closed nearly 1.6% higher, and rebar gained nearly 1%. Hot-rolled coil and iron ore...Read More
The US$100 million expansion is expected to add another six years of mining to the operation's mine plan, followed by a further three years of leaching up to mine closure slated for 2030. Currently, without the Gilmore expansion, milling at Fort Knox is expected to end in late 2020.The expansion will lift Fort Knox life-of-mine output by about 1.5 million gold-equivalent ounces and generate an add...Read More
The company hoisted first ore in January, started milling in March and increased throughput to produce 3,124dmt of zinc concentrate during May. Read More
SHANGHAI, Jun 13 (SMM) – The operating rate across China’s copper tube/pipe producers inched up 3.59 percentage points from April to stand at 94% in May amid a high season of consumption, SMM research found. The rate gained 4.36 percentage points over the past 12 months.Some producers told SMM that they received fewer orders in June. We expect that the operating rate at China&rsqu...Read More
Karo owns half of the Karo Platinum project, which has a tier-one PGM resource of 96 million ounces on Zimbabwe's Great Dyke region and was recently awarded PGM mining rights under a special grant covering an area of 23,903 hectares.This is not the company's first foray into the country, having acquired 90% in Salene Chrome a month ago.It is not surprising that South Africa-focused Tharisa is attr...Read More
The transaction is a good win for Orford as it will take control of Condor's C$1.25 million in marketable securities that includes $663,122 in cash."This transaction gives Orford a significant hard dollar cash balance that will be used to fund exploration at our Carolina gold projects and for general corporate purposes. The acquisition of Condor allows Orford to add hard dollars to its balance she...Read More
SHANGHAI, Jun 13 (SMM) –Copper: Copper prices are likely to retreat in the short term on both the technical and fundamental fronts. The US dollar rose overnight in anticipation of the interest rate hike on Wednesday, which suppressed copper prices. We expect LME copper to trade at $7,170-7,230/mt with the SHFE 1808 contract at 53,600-54,100 yuan/mt. Trading in the spot market remained sluggi...Read More
BHP (ASX: BHP) was 1.3% lower in afternoon Australian trade while in London, Rio Tinto (LSE: RIO) had closed down slightly in London and Glencore (LSE: GLEN) was 1.39% lower.The gold price has lost a few dollars since this time yesterday and was last worth about US$1,294 on the spot market.Barrick Gold (TSX: ABX) was off 0.17% in Toronto, while shares in Katanga Mining (TSX: KAT) gained more than...Read More