SHANGHAI, May 2 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index broke 92, driven by upbeat data of the US economy and hovered at 92.4 overnight.Most LME metals fell with the stronger US dollar. LME zinc led the declines with a loss of 1.6%, copper lost 0.87% and hit a monthly low at one point.China’s o...Read More
* Dollar breaks into positive territory for year* Oil just under $75 a barrel amid Iran deal nerves* Cautious cheer from stocks as Trump extends tariffs exemptions* Pound hurt by softer UK data* Apple results in focus after reports of weak iPhone demand* Gold hits 6-week low, emerging markets knocked by strong dollarBy Marc JonesLONDON, May 1 (Reuters) - The dollar broke into positive territory fo...Read More
Investing.com - Gold prices fell to fresh two-and-a-half month lows on Tuesday, pressured lower by a stronger dollar ahead of the Federal Reserve’s latest policy decision and the U.S. jobs report later this week.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $9.20 or 0.7% to $1,310.00 a troy ounce by 04:21 AM ET (08:21 AM GMT), the lowest l...Read More
On April 30, SQM announced that Ponce's investment vehicle Pampa Calichera and Japan's Kowa Corporation had terminated an agreement through which the Chilean has exercised power at the minerals company for the past 12 years.Read More
She has been CFO and director of the Botswana subsidiary since March 2013 and has more than 17 years' experience in the mining industry, including 10 years at the senior management level of Debswana's corporate finance department.In her new role, Lahri will work closely with Boteti general manager Johane Mchive to help drive improved performance at the Karowe diamond mine in Botswana.Read More
SHANGHAI, May 2 (SMM) – Nonferrous metals rebounded on the afternoon of May 2, buoyed by ferrous metals. SHFE lead rose 1.58% and nickel gained close to 1%. Zinc inched up slightly. Copper closed nearly 1% lower while aluminium and tin edged down.The ferrous complex rose across the board. Rebar led the increase with a gain of 4.28%. Coke and coking coal grew about 4%. Hot-rolled co...Read More
He will also join the company's board on July 1 and continue to be responsible for operations.Velloza joined Gem in May 2016 after leaving his position at general manager for BHP in Australia's Pilbara region.During his 25-year career, he has also held senior operational management roles at De Beers. BHP and AngloGold Ashanti and has broad mining experience across operation in Southern and East Af...Read More
SHANGHAI, May 2 (SMM) – Weak demand and the new, lower value-added tax (VAT) weighed down spot copper offers in Shanghai on Wednesday April 2. Spot copper with invoices for May was mostly offered at a discount of 50 yuan/mt to a premium of 20 yuan/mt over the SHFE 1805 contract. Prices fell in both the copper futures and spot market in Shanghai on the first trading day after the Labour...Read More
The overall mineral resource now stands at 14 million tonnes at 1.1% lithium oxide containing 149,300t of Li2O, with the update being the second this year and the third estimate overall.The updated resource was defined from three deposits — Grandao, Reservatorio and Noa — with the estimate at the Grandao deposit increasing around 87% to 10.3Mt at 1.1% Li2O containing 11,600t of Li...Read More
The placement will include 2.5 million units at $2 each, with each unit comprising one common share and one half of a non-transferrable warrant, which are exercisable into an additional common share for a 24-month period at a price of $3 per share.The company expects to close the placement on or around June 15, subject to certain conditions.Mirasol is a project generator that aims to expand its ex...Read More
SHANGHAI, May 2 (SMM) – Imported copper concentrate traded actively as smelters saw stronger demand for stockpiling in the second quarter of the year, SMM learned. Traded prices of treatment charges (TCs) mostly stood at $73-76/mt, according to members of the China Smelters Purchase Team (CSPT).Market participants took a pessimistic outlook on TCs in the second half of the ye...Read More
It also intends to list on Spain's Madrid, Barcelona, Bilbao and Valencia stock exchanges for the same reasons.Berkeley is developing the Salamanca uranium mine in western Spain where it began construction at the start of the year."Given the geographic location of the Salamanca project in Europe and the size and maturity of the company and its operations, the directors consider that a listing on b...Read More
SHANGHAI, May 2 (SMM) – Spot copper in the Shanghai market was offered at a discount of 20 yuan/mt to a premium of 20 yuan/mt against the SHFE 1805 contract on the morning of Wednesday May 2, SMM learned. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en@smm.cn Read More
Speaking in Perth this week, BlueBird's president Alf Stewart and CEO Peter Ball said they were keen to pick up more assets, while emphasising they had the backers to transact promising deals when required.Read More
SHANGHAI, May 2 (SMM) –Copper: LME copper fell under the pressure of stronger US dollar during the Labour Day holiday. Technically, it now stands below all moving averages and without support. We expect it to trade at $6,740-6,800/mt today with the SHFE 1806 copper at 51,000-51,500 yuan/mt. Spot discounts are seen at 100-50 yuan/mt with May invoices.Aluminium: LME aluminium is expe...Read More
Numis has adjusted its target price from £8 (US$10.85) to £6 on the back of "industrial unrest" at its Tongon mine in Côte d'Ivoire, a mining code upheaval in the Democratic Republic of Congo that hosts its Kibali joint venture, and "recent unrest" in Mali, where it runs the massive Loulo-Gounkoto mine complex. This is despite a company statement early this week that, while...Read More
The countdown is on to GT Gold picking up where it left off as heavy winter snow set in on the alpine mountain slopes and valleys at Tatogga in October last year, temporarily freezing drilling activity that had already revealed one part of an extensive, dense vein system (Saddle South) with grades as high as 51.53 grams per tonne over 6.95m in near-surface drill intercepts, and a nearby copper-gol...Read More
A group of shareholders, who say they represented interests with more than US$3.5 trillion under management, put forward a resolution on public policy advocacy on climate change and energy by relevant industry associations.The resolution proposed that Rio listed all payments made to industry groups, evaluate whether advocacy positions taken by those groups served the company's financial and energy...Read More
The need to embark on wrenching cultural change was a key takeaway from a panel of mining innovation executives and those working for technology companies trying to help the industry catch up with advances already commonplace in manufacturing and other industries.Read More