DUBAI, Jan 8 (Reuters) - An affiliate of Qatari conglomerate Aamal Co plans to build three factories to produce copper wires, aluminium bars and drums for cables, projects that could make the country more self-reliant in the face of an embargo by other Arab states.The factories will be established by Senyar Industries Qatar Holding, owned 50 percent by Aamal and 50 percent by Egyptian cable maker...Read More
An independent study of the tax rate paid by the Australian minerals industry shows mining paid an effective tax rate of 51 per cent in 2015-16 in company tax and royalties - the second-highest tax ratio recorded since the survey began nine years ago.Deloitte Access Economics' Minerals Industry Tax Survey 2017, based on a survey of 25 Australian mining companies, provides an independent and robust...Read More
BEIJING, Jan 8 (Reuters) - As China tightens restrictions on imports of foreign waste, Chinese metal recyclers and even smelters like Jiangxi Copper Co are increasingly looking to use Southeast Asian countries as an alternative location for the processing of copper scrap.China relies on imports for around half of its scrap copper needs but told the World Trade Organization last year that it would...Read More
Valor Resources Limited is pleased to report an updated JORC Mineral Resource Estimate for the Berenguela CopperSilver Project. The updated Resource Estimate includes an 80% increase in total tonnage, as well as a maiden Measured Resources Estimate. Comparisons between the Resource Estimate published in October 2017 and this updated Mineral Resource Estimate can be seen from the two tables on...Read More
The Peruvian government might have to deal with more mining-related social protests in 2018, says a risk brief published today by Verisk Maplecroft.According to the firm, if 2017 saw several projects slowing down or stopping due to the 171 formally registered conflicts that took place throughout the country, the approval of the supreme decree 042-2017 in December, which relaxes the environmental p...Read More
The U.S. Army Corps of Engineers has accepted Pebble Limited Partnership's wetlands-fill permit, which is required under the Clean Water Act and which is also a key authorization in the permitting process for the controversial Pebble project in Alaska.Pebble Limited Partnership is a subsidiary of Vancouver-based Northern Dynasty Minerals Ltd. (TSX: NDM). For over a decade now, the company has been...Read More
Big cap diversified miners are riding a wave of optimism as global growth prospects - especially in manufacturing - continues to strengthen. Global economic activity as measured by the JP Morgan global manufacturing and services index showed output rising at the fastest pace since March 2015.The manufacturing index has now signalled expansion for a record 82 months in a row and the investment...Read More
Peru's Ministry of Energy and Mines released its most recent statistical report, which highlights that November was one of the best months in 2016 when it comes to investments in the mining sector. According to the deputy minister Ricardo Lab??, investments grew by 54.8% compared to the same month of 2016 and reached $515 million. The overall growth in investments from January to November 2017 was...Read More
The gold miners' stocks have huge upside potential in 2018, likely the best among stock-market sectors. They really lagged gold last year, so a major mean-reversion catch-up rally is coming. The gold miners are universally ignored and deeply undervalued relative to the metal which drives their profits. And gold itself is likely to power dramatically higher this year as euphoric record-high s...Read More
Cobalt prices went ballistic in 2017 with the metal quoted on the LME ending the year at $75,500, a 129% annual surge sparked by intensifying supply fears and an expected demand spike from battery markets. Measured from its record low hit in February 2016, the metal is more than $50,000 more expensive.Given these lofty levels - and considering that the volatile commodity topped $100,000 a tonne a...Read More
(Bloomberg) - Commodities are forging a record-setting run of gains that straddles the end of 2017 and the start of the new year as crude oil notches multiyear highs and investors bet that booming global manufacturing output will help to sustain rising demand for raw materials.The Bloomberg Commodity Index, which tracks returns on 22 raw materials, was poised for an unprecedented 15 days of gains...Read More
Investors jumped back into copper on Thursday after reports that top consumer China is slashing import quotas of scrap metal, a bullish development first rumoured last year.After pulling back over the first three trading days of the year, Comex copper bounced back to just below $3.30 a pound ($7,270 per tonne) in New York, up over 1% from Wednesday's settlement. While gains were pared by early af...Read More
SANTIAGO, Jan 4 (Reuters) - Unionized workers at Glencore Plc's Lomas Bayas copper mine in Chile rejected a final contract offer and began government-facilitated mediation on Thursday to avoid a strike, the union said, adding that they were still far from agreement.Union president Pedro Valdivia said workers agreed to lay down tools on Jan. 10 if no agreement was reached during the mediation.New l...Read More
by: Paul ZimniskyThrough mid-December 2017, rough diamond prices are up 2.7%* year-to-date, while polished prices are down 3.5%**. However, despite shrinking manufacturer margins, the midstream segment of the industry still bought $5.3B worth of diamonds from De Beers this year, including $450M at the final sight which was 7% over the comparable sight last year and 81% over 2015. De Beers' full-...Read More
Vancouver-based ML Gold Corp.(TSXV: MLG) announced that is has started a winter drilling program on the Stars property, located 40 kilometres south-west of Houston, British Columbia. The company acquired the mine in November from Pacific Empire Minerals Corp. and Divitiae Resources.In a press release, ML Gold informed that it has mobilized a diamond drill rig and drilling is underway. The program...Read More
While it's pulled back a bit since New Year, the price of copper ended 2017 near a four-year high of $3.30 a pound ($7,260 per tonne) extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70% in value.The rally for zinc has been even more spectacular with the metal, mainly used to galvanize steel, e...Read More
After an initial jump shares in Solgold plc (LON, TSX:SOLG) were trading flat by lunchtime on Wednesday after the company, worth $865m on the Toronto stock exchange, released the maiden resource for the Alpala target at its massive Cascabel copper-gold project in northern Ecuador.The latest in a string of announcements from Ecuador, where the Brisbane-based company have completed 63,500m of dr...Read More
by: Northern Miner Staff Writer, SEPTEMBER 27, 2017The geological model Bonterra Resources (TSX-Venture: BTR) is applying to its Gladiator gold project in the Abitibi belt of Quebec is proving to be a reliable predictor of where extensions of the already substantial deposit will appear.As a result, the Vancouver-based company has been able to quickly expand the known gold mineralization along s...Read More
Indonesia's government has extended until June 30, 2018, the temporary special mining permit it issued to PT Freeport Indonesia, a subsidiary of US-based Freeport McMoRan (NYSE:FCX).The permit was issued to allow the miner to continue exporting copper concentrate while company representatives and government officials go on with the discussions around Freeport's future operations in the country, wh...Read More
The price of copper ended 2017 near a four-year high of $3.30 a pound ($7,260 per tonne) extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70% in value.The copper price surged by 30% in 2017 to levels last seen early 2014What happened in 2017The run started on hopes (since dashed) of massive inf...Read More