According to its 30.4% shareholder Stratex International (AIM:STI), Thani Stratex asked for a hold on its Blackrock and Cussra licences instead of a proper renewal, which was not possible under the Ethiopian mining code.Stratex handed the company $200,000 at the end of 2017 to keep working on its Egypt and Djibouti prospects.The Ethiopia prospects were not mentioned in Thani Stratex's most re...Read More
SHANGHAI, May 11 (SMM) – Both production and sales of vehicles in China saw month-on-month declines in April but maintained their stable year-on-year increases, according to data from the China Association of Automobile Manufacturers (CAAM).China’s vehicle sales reached 2.32 million units in April, down 12.7% from a month ago but up 11.5% from a year ago. This brought the January-April...Read More
An average grade of 2.3% vanadium in magnetite concentrates produced from nine drill holes was achieved by Pursuit, with the company making the point that only the Maracas and Rhovan mines in Brazil and South Africa, respectively, produce magnetite concentrates consistently grading above 2.2% vanadium - at 3% and 2.3%, respectively.Pursuit said the high-grade vanadium mineralisation at Koitelainen...Read More
The company reported a net loss for the March quarter of US$2.3 million, down from a loss of $2.7 million a year ago. The net loss per basic and diluted shares was 1c, unchanged year-on-year.Read More
SHANGHAI, May 11 (SMM) – Major copper ore producing countries including Chile, Peru and Zambia have raised their output forecast by 700,000 mt this year following higher production registered in the first quarter.In 2017, the total output of these three countries accounted for 44.3% of global copper ore production. SMM expects global copper ore output growth to reach 3.3% this year...Read More
SHANGHAI, May 11 (SMM) –Copper: The US dollar fell as the US consumer-price inflation growth for April missed expectations. Crude oil prices extended its gains as closing prices registered a new high since 2014, and this buoyed copper prices. LME copper surged overnight with a higher trading range, and now stands among moving averages. The SHFE 1807 contract cli...Read More
Artemis has agreed to sell its 4 million Novo shares to KL at an average price of C$5 per share.The shares were issued to Artemis in August as part of the formation of the Purdy's Reward joint venture with Novo.When issued, the shares were worth $21.8 million, and the value climbed to as much as $35 million during the height of the conglomerate gold rush.Artemis already had A$17.36 million in cash...Read More
Perhaps the most exciting thing about the Orexplore GeoCore X10 core scanner and Chrysos Corporation's photon assay tools is that nobody is really sure where their biggest impacts will be.Read More
Rio and Alcoa announced the formation of Montreal-based joint venture company, Elysis to develop and commercialise the process, in the presence of Canadian prime minister Justin Trudeau.A technology package is planned for sale starting in 2024, with it to be used to retrofit existing smelters or build new facilities.The patent-protected technology, developed by Alcoa, has been producing metal at t...Read More
Junior explorer Megastar Development (TSXV: MDV) announced today that it has signed a Definitive Option Agreement with Paradex, a private American mining exploration company, and Minera Zalamera, a private Mexican mining exploration company, to acquire 100% interest in the mineral concessions known as the Rama de Oro project located in the state of Oaxaca, southern Mexico.In a press release, Megas...Read More
(Bloomberg) - Randgold Resources Ltd. is confident that talks with the Democratic Republic of Congo will lead to a compromise on the country's new mining rules which risk hurting producers' profits.Miners including Glencore Plc and Randgold have asked the government to dial back aspects of the legislation approved by President Joseph Kabila in March. They argue the new code will drive investors a...Read More
Shares in Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia's ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner bumped up mineral resource estimates for its Altan Nar gold-polymetallic project in Mongolia.The Canadian miner said indicated and inferred gold equivalent resources had increased by who...Read More
SHANGHAI, May 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index hit yet another new four-month high at 93.42 overnight as treasury yields grew. It then came off slightly but remained above 93. It closed at 93.09, up 0.03%.The two-year treasury yield hit 2.53%, its highest level since September 8, 2008, while the 10-y...Read More
(Adds details)LUSAKA, May 9 (Reuters) - Vedanta Resources ' VED.L Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18 million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday.Zambia's revenue authority concluded audits of mining companies that prompted it to hit Canadian miner First Quantum Minerals FM.T...Read More
LUSAKA, May 9 (Reuters) - Vedanta Resources ' VED.L Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18 million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday.Zambia's revenue authority concluded audits of mining companies that prompted it to hit Canadian miner First Quantum Minerals FM.TO with a tax b...Read More
Investing.com - Gold prices fell on Wednesday, pressured lower by strength in the dollar and Treasury yields after the U.S. withdrew from the nuclear deal with Iran, which kept prices within reach of two month lows.On Tuesday, President Donald Trump pulled the U.S. out of the international nuclear deal with Iran, raising the risk of conflict in the Middle East and a knock-on effect for global oil...Read More
Midas' sole focus is the Stibnite gold project in central Idaho, a historic mining area that was abandoned in the 1990s after 100 years of activity, and which the Vancouver-headquartered company's studies suggest holds the eighth largest gold reserves in the United States, as well as significant amounts of antimony, a material with flame retardant qualities.Read More
Signs of a rebound to more balanced conditions can be seen in the way the price has moved and can also be seen in the price-setting for treatment charges (TC) negotiated between miners and smelters.Read More
Hard rock lithium deposits are going to fill the demand as they are more evenly geographically distributed across the globe and are less dependant on a changing climate for production than lithium brine production. They are more and more filling the supply gap.According the United State Geological Survey's 2018 Mineral Commodity Summaries, Australia was the largest producer of lithium. It produc...Read More