Investing.com - Gold prices will remain susceptible to any further gains in the dollar this week after declines on Friday on the back of a stronger greenback which was boosted by expectations for a more aggressive pace of policy tightening by the Federal Reserve this year.Metals traders will be awaiting an update on the health of the U.S. economy ahead of Friday’s data on first quarter growt...Read More
It was an interesting week in the precious metals complex. There appeared to be the start of a short squeeze in Silver (hedge funds were heavily short) but it ceased at an important resistance. Meanwhile, Gold closed the week on a weak note, losing $1340-$1350. The gold stocks, like silver closed the week below technical resistance. The price action in the complex continues to suggest that a break...Read More
Connemara CEO Patrick Cullen told Mining Journal the announcement of a NI 43-101-compliant maiden inferred resource estimate at Stonepark in Limerick, Ireland, last week was exciting, as the project was now progressing with a new partner in Group Eleven Resources which had a new mindset and new ideas.Read More
He has been CEO since May 19, 2015 and has over 35 years' experience in developing, constructin and operating mines, including lithium projects.Prior to joining Bacanora, he was CEO of Canada Lithium Corp when the company was developing the Quebec lithium project. Bacanora aims to start construction of its flagship Sonora lithium project in northern Mexico in the first half of 2018, with pro...Read More
SHANGHAI, Apr 23 (SMM) – Nonferrous metals saw mixed trading on Monday April 23. SHFE lead rose over 1% and copper gained close to 1%. Zinc and aluminium edged up slightly. Nickel and tin dipped.The ferrous complex performed strongly across the board. Coke led with a gain of 3.87%, hot-rolled coil, coking coal and iron ore climbed over 2%. Rebar rose close to 2%.Copper: As investors added th...Read More
The project is in Galicia, and was last a producing mine in the 1980s.Read More
SHANGHAI, Apr 23 (SMM) – China's imports of copper scrap in March shrank 38.5% on the year, according to data from China Customs. This brought the overall copper scrap imports for the first quarter of the year down almost 40%.With the Chinese New Year holiday in February, copper scrap imports for March grew 69.5% month on month.Imports of metal scrap in Marc...Read More
Puhipuhi is an exploration stage epithermal gold project on the North Island of New Zealand.Read More
SHANGHAI, Apr 23 (SMM) –Copper: LME copper stood above all the moving averages but pressure remained at the $7,000/mt level. The SHFE 1806 contract regained losses in the previous day and stayed above the 40-day moving average. We expect LME copper to trade at $6,950-7,000/mt today and the SHFE 1806 contract to trade at 51,300-51,800 yuan/mt. Spot premiums are seen narrower at...Read More
Agnico said it had sold half of its interest in a pre-arranged trade for C$14.9 million at 33.5c a share, Belo Sun's 30-day volume weighted average price.It granted the purchaser an option to acquire its remaining Belo Sun stake within 60 days and said if the option wasn't exercised, it would "dispose of the remaining common shares … in an orderly fashion as market conditions permit".Belo S...Read More
It produced a record 1.2 million carats during the three-month period, up 20% year-on-year, bringing the total for the nine months to March 31 to 3.4Mct, rising 13% from the previous year.Read More
In an update on the situation Monday, mining industry representatives said they were engaging constructively with civil society, a member of the mining code revision tri-partite group and other key interested groups, although there had been no response from the ministry of mines.They proposed at the end of March that a sliding scale of royalty rates be linked to the prices of key commodities, copp...Read More
La Générale des Carrières et des Mines (Gécamines) is pushing to dissolve Katanga's 75%-owned DRC operating subsidiary Kamoto Copper Company (KCC) for failing to address its previously disclosed capital deficiency.Read More
It said it was currently in its annual bargaining period and the La Arena Union had indicated it wanted workers to be paid a higher amount of profit sharing than was established under Peru's labour law.Read More
The mining industry is emerging from a years-long funk, with the attention of bankers turning from distressed asset sales to opportunities to fund growth. Executives are less likely to believe in vague prophesies of technological salvation and more likely to be automating processes and building up sensor-driven data collection, while at least one advisor awaits the emergence of premium commodity p...Read More
The Swick Mining Services offshoot will formally launch its brand and new facility in Bassendean, a suburb of Perth in Western Australia, at the start of May. The event could draw 100 or so people - there is plenty of room inside and outside the new HQ - and some will be coming back for a second or maybe even third look at the future of drill-core analysis.Read More
South32 subscribed for 40% of the offering, with Electrum Strategic Opportunities Fund taking around 20%, the Baupost Group taking roughly 10% and Selz Capital taking about 4%.Read More
On the line this week…Frank Holmes, CEO, US Global InvestorsFrank Holmes is the CEO and chief investment officer of US Global Investors. A Mining Journal mining fund manager of the year and regular Mining Agenda contributor, he bought a controlling interest in US Global Investors in 1989 and became the firm's chief investment officer in 1999. More than 40,000 subscribers follow his weekly c...Read More
A group of researchers from Berlin's Humboldt University published a study where they say that mining activities are the leading cause of social conflicts in Peru.According to the study, which is titled "Alternatives for the development of Peru's mining regions," one of the reasons that explains the unrest is the fact that the country's economic policies do not allow for a large royalty collection...Read More