The placement includes 56.15 million common shares at a price of C$0.80 per share.Read More
SHANGHAI, Mar 26 (SMM) – After it was forecast that Tangshan's air pollution is likely to reach the orange level, the city activated its emergency level ?...? response to heavy air pollution at 20:00 on March 25 until further notice, SMM learned.An orange-level alert is the second-highest in China’s four-level air pollution warning system. An orange-level alert indicates that...Read More
Earlier this month, it formally announced its intention to list on AIM and the Johannesburg Stock Exchange by the end of March, and said on Monday it had applied for all ordinary shares in the company to be admitted to trading on AIM on March 29, the same day it is due to list in Johannesburg.Read More
SHANGHAI, Mar 26 (SMM)? 1/4 ? China releases data on its import and export of copper in Feruary 2018 (Unit: mt): Read More
The gold price has risen about $20/oz since Thursday when US president Donald Trump signed a presidential memorandum that could impose tariffs on Chinese imports, a plan China "firmly opposes".Gold stocks rose strongly on Friday and in today's trade, with Newmont Mining (US:NEM) finishing up 3.06% in New York on Friday.It was a similar tale in London where Randgold Resources (LN:RRS) closed up 2.9...Read More
SHANGHAI, Mar 26 (SMM) – Spot copper in the Shanghai market was offered at a discount of 200-150 yuan/mt on the morning of Monday March 26, SMM learned. This compared with discounts of 190-130 yuan/mt on the morning of Friday March 23. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.e...Read More
While the US imposing tariffs on approximately US$60 billion of Chinese imports and China reciprocating with plans to enact its own duties on approximately $3 billion worth of US-origin goods could have some impact on the copper market, the investor reaction has been overblown, according to Dane Davis of Barclays Capital.LME three-month copper dropped to below $6,500 per tonne on the back of this...Read More
SHANGHAI, Mar 26 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last Friday nightGrowing trade tension dragged the US dollar index down to a month-low of 89.496, down 0.4% during the day and 0.8% over the week.Such bearish sentiment also led base metals to fall across the board except for zinc. SHFE copper saw a smaller decline but fell cl...Read More
Hallgarten & Company's principal and mining strategist Christopher Ecclestone repeated his 'long' investment rating and a C$0.49 (US$0.38) per share 12-month price target in a note on Monday.Read More
SHANGHAI, Mar 26 (SMM) –Copper: While the market was rattled by the rising trade tension, crude oil saw a big jump in prices, which may give certain support to copper prices. We expect LME copper to trade at $6,620-6,670/mt today with SHFE copper at 49,700-50,200 yuan/mt. In the physical market, spot discounts are seen at 140-220 yuan/mt with thin trading activity as downstream consumers tak...Read More
The current crop of tier-one assets - many of which were discovered in the early 20th century and have been operating for several decades - are becoming uneconomic as grades fall, sustaining capital outlays rise and processing costs step up.Read More
EY said the move to more technologically advanced mine operating systems had been good for productivity but suggested some networks and even workstations were openly accessible online, with gaps coming because of lax standards away from miners' head offices.The fear of data intruders is not unreasonable. According to EY data, 55% of energy and resources companies surveyed had "experienced a s...Read More
The union representing workers at Chilean copper mine Escondida have accepted an invitation from management to "explore" early talks aimed at clinching a collective bargaining agreement, the union's President Patricio Tapia said on Saturday.Escondida, controlled by BHP, is the world's biggest copper mine.Failure to reach a labor deal caused a 44-day strike at the mine last year, which jolted the g...Read More
Investing.com – Gold prices spiked to a one-month high in morning trade in the U.S. on Friday as mounting fears over the prospect of a trade war and worries of heightened geopolitical tensions stoked demand for the precious metal.U.S. President Donald Trump announced tariffs on Thursday for about $50 billion worth of Chinese exports, citing China’s unfair seizure of U.S. intellectual p...Read More
* Investors spooked after Trump announces China tariffs* China urges U.S. to pull back from brink* Stocks on course for 1st quarterly loss since early 2016* Yen hits highest since November 2016; dollar down* U.S. Treasury yields set for biggest two-week fall since Sept* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tommy WilkesLONDON, March 23 (Reuters) - The threat of a global trade...Read More
* Stock markets reel after Trump announces China tariffs* China urges U.S. to pull back from brink* Yen hits highest since November 2016* U.S. Treasury yields set for biggest two-week fall since Sept* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Tommy WilkesLONDON, March 23 (Reuters) - The threat of a global trade war sent stock markets sliding and investors rushing for the safety of...Read More
Investing.com – Gold prices spiked to a one-month high in mid-morning European trade on Friday as mounting fears over the prospect of a trade war stoked demand for the precious metal.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange rose by $13.80, or 1.04%, to $1,341.20 a troy ounce.Invoking Section 301 of the 1974 Trade Act, U.S. President Donald Tru...Read More
(Refiles with the appropriate coding for market instruments)* MSCI Asia Pacific index down 2.45 pct, Nikkei falls 4.5 pct* Spreadbetters expect European stocks to open significantly lower* Trump moves towards China tariffs, stokes trade war fears* Dollar/yen drops below 105.00 for first time since Nov 2016* Treasury yields sharply lower amid broad risk aversion* Crude up as Saudi Arabia says outpu...Read More
* MSCI Asia Pacific index down 2.1 pct, Nikkei falls 3.5 pct* Trump moves towards China tariffs, stokes trade war fears* Dollar/yen drops below 105.00 for first time since Nov 2016* Treasury yields also sharply lower amid risk aversion* Crude up as Saudis say production curbs could last into 2019* But copper, iron ore prices drop on trade angstBy Shinichi SaoshiroTOKYO, March 23 (Reuters) - The ru...Read More