Martin Place Securities executive chairman Barry Dawes told the inaugural ResourceStocks Sydney conference this week that "the copper price has got to go much higher as we go forward" - referring to recent data and bullish assessments from red metal majors.In the US, the S&P500 metals and mining sector gained 2.62% yesterday, largely due to copper producer Freeport-McMoran's (NYSE: FCX)...Read More
SHANGHAI, May 17 (SMM) – Spot copper in the Shanghai market was offered at a discount of 90-40 yuan/mt over the SHFE 1806 contract on the morning of Thursday May 17, SMM learned.This compared with a discount of 120-80 yuan/mt over the SHFE 1806 contract the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access...Read More
While a series of shallow RC drill intercepts of nickel and cobalt have validated previously held views about the extensive supergene resource potential along the interpreted ultramafic stratigraphy (and 15km of strike) at Quicksilver - putting the company on a course to post a maiden resource for the project later this year - it is the early signs from bedrock contact in drill holes and electroma...Read More
SHANGHAI, May 17 (SMM) –Copper: LME copper stood around the 40-day moving average overnight with strong upward momentum. Overnight, the SHFE 1807 contract touched the five-day moving average above, with resistance. We expect LME copper to trade at $6,830-6,880/mt and the SHFE 1807 contract at 50,900-51,400 yuan/mt during the day. As prices of futures rose, spot discounts are likely to stand...Read More
The deal will account for less than 25% of Kidman's portion of initial nameplate production for the first three years from the planned refinery that Kidman and lithium heavyweight SQM to build the refinery in Western Australia on a 50:50 basis.Read More
The council had called for a reform to the KP at the end of last year, saying more had to be done to evolve the efficiency of decision-making to maintain credibility and bring meaningful change to achieve conflict resolution. It also called for the establishment of a permanent secretariat to preserve institutional memory.WDC acting president Stephane Fischler and executive director Marie-Chantal K...Read More
METS Ignited CEO Ric Gros said, with the modern mining workforce undergoing huge transition, it was time for the industry to work smarter to make young people aware of the mining-related careers on offer in Australia and around the world.Youth research agency YouthInsight surveyed a nationally-representative 1,061 senior high school students and first year university students between the ages of 1...Read More
Despite mining contributing about 6 per cent of Australia's GDP, a study by YouthSight revealed that 59 per cent of young people in the country know nothing at all about mining careers.The results from the study were made public today at the MCA Minerals Education Summit in Melbourne and also through a press release issued by the industry-led, government-funded think tank METS Ignited, the Minera...Read More
Canada's Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) said it poured Tuesday first gold and silver dor?(C) at its Cerro Moro mine, located in Argentina's Santa Cruz province.The Toronto-based miner, which began construction at Cerro Moro in 2015 and expects to finish building it this year, said ramp-up remained on track, with commercial production expected in the second quarter of the year.Once at ful...Read More
Investing.com - Gold prices fell to one week lows on Tuesday as rising U.S. Treasury yields dampened investor demand for the precious metal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $7.60 or 0.58% to $1,310.60 a troy ounce by 03:59 AM ET (07:59 AM GMT), the lowest since May 8.The yellow metal slid as the yield on 10-year U.S. Treasury notes...Read More
KPMG mining strategy national lead and program director of the KPMG Energise accelerator Ashley Brown led a panel session at METSStocks Sydney, part of the inaugural Future of Mining conference, where panellists including Petra Data Science managing director Penny Stewart and Project 412 CEO Paul Lucey outlined the biggest barriers to growth in the mining, equipment, technology and services (METS)...Read More
Global financial advisory firm BDO, in a report on future mining trends earlier this year, suggested technology that could boost mining output by 15-20%, take big bites out of fuel and maintenance costs, and improve mining safety "exponentially" would inevitably - and quickly - make its way into most mines."By 2020, robots will replace more than 50% of miners, and mining accidents will be cut by 7...Read More
Last week index score: 45.85 (updated) This week: 25.90Prospero Silver (TSX-V: PSL) and Fortuna Silver Mines (TSX:FVI) amended their strategic financing agreement and amended the 2018 work program in Mexico.NuLegacy Gold (TSX-V: NUG) began drilling on its Red Hill in the Cortez gold trend of Nevada.Zinc One Resources (TSX-V: Z) announced additional drill results from the Mina Grande Sur zone at it...Read More
The position will combine the leadership of Konkola Copper Mines in Zambia, Vedanta Zinc International (VDI) in South Africa and Namibia and Copper Mines of Tasmania, assuming responsibility of KCM CEO after the departure of Steven Din in July.Naidoo was previously CEO of VDI, having joined Vedanta in 2014, and led the development of the US$400 million Gamsberg project and the Pit 112 project at S...Read More
Its first two holes for 2018 tested below the North Pit deposit and in an untested adjacent area, the Northern Extension zone, where a highlight included 42.7m true thickness at 2.05% copper."This mineralisation is wider and of higher grade than adjacent holes and extends mineralisation into areas previously classified as waste," the company said.It is able to drill the extension zone now a land t...Read More
SHANGHAI, May 16 (SMM) – Both nonferrous and ferrous metals closed mixed on Wednesday May 16. SHFE nickel, aluminium, zinc edged up. SHFE copper closed 0.5% lower and tin dipped. SHFE lead closed flat.Coke rose close to 1% while hot-rolled coil gained 0.7%. Rebar closed flat. Iron ore dropped close to 1% and coking coal dipped.Copper: The SHFE 1807 contract regained almost all losses at...Read More
HONG KONG, May 16 (SMM) – While copper prices appeared to struggle at the moment, a brighter future awaits it, according to Vivienne Lloyd, senior analyst of base metals at Macquarie Bank.Most market participants were “too bullish” on copper at the start of the year against the backdrop of various labour negotiations at copper mines in south America, she told delegates at a semin...Read More
The company will issue 30 million new ordinary shares at a price of 5p per share, bringing its total ordinary shares in issue up to 566.3 million at 1p each. It said it had applied to admit the subscription shares to trading on AIM on or around May 18.The subscription price was down 23% from a year ago when it issued 23.1 million shares at 6.5p each to raise the same amount. The funds wi...Read More
However gold's best days are still in front of it, the inaugural ResourceStocks conference in Sydney was told today.Gold was trading around $1,294/oz on the spot market at the time of writing.Unsurprisingly, gold equities have been affected by the precious metal's slide.On the S&P/TSX Composite Index yesterday, the metals and mining was down 1.47% with the gold patch worst hit, down...Read More