Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company expects the reduced organisational structure will save about US$5 million per annum in corporate general and administrative expenses.The company, which operates the Pinto Valley copper mine in Arizona and the Cozamin mine in Mexico, said the move would also empower mine general managers and their teams to run operations as in...Read More
Cobalt is almost always a byproduct of nickel and copper mining. Image: Glencore InstagramSince hitting near decade highs in March, cobalt prices are down by more than a third, languishing in the low $50,000s.Now a new report sees the battery raw material recovering some 30% in price. And quickly.While a change in subsidies in China, responsible for half the world's EV sales, hasn't helped, it's m...Read More
SANTIAGO, Nov 8 (Reuters) - Chile's copper production from January to September this year jumped 7.3 percent from a year earlier, boosted by a sharp increase in production at BHP's Escondida copper mine.Chile, the world's top copper exporter, produced 4.25 million tonnes of copper in the first nine months of 2018.Escondida, in northern Chile, produced 950,900 tonnes through September, up 57.8 perc...Read More
State-owned Indonesian miner PT Indonesia Asahan Aluminium (Inalum) on Thursday sold $4 billion of bonds in its first-ever U.S. dollar bond deal to fund the acquisition of a majority stake in the world's second-biggest copper mine.The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia - including Indonesia - that have made it hard for emerging market...Read More
TOKYO, Nov 8 (Reuters) - Japan's Sumitomo Metal Mining Co Ltd posted a 52 percent jump in half-yearly pre-tax profit on Thursday but cut its full-year forecast, blaming lower-than-expected metal prices amid the U.S.-Sino trade spat, and reduced nickel output."It doesn't seem that there will be a quick settlement in the U.S.-China trade conflicts, which suggests no quick recovery in prices of metal...Read More
Aston Bay Holdings (TSX-V: BAY) has just completed the transaction to acquire all of the issued and outstanding stock of Jack's Fork Exploration (JFE). The acquisition was completed by way of a reverse triangular merger of Blue Ridge Mining, a wholly owned subsidiary of the company, into JFE, resulting in JFE being renamed "Blue Ridge Mining" and becoming a direct and wholly-owned subsidiary of As...Read More
* OPEC, non-OPEC panel to meet on Sunday* U.S. oil stocks swell, output at record levels -EIA* U.S. grants Iran's biggest customers sanction exemptions* Iran's crude, condensate exports: https://tmsnrt.rs/2PMqQgS (Updates with settlement prices, quotes)By David GaffenNEW YORK, Nov 7 (Reuters) - Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another r...Read More
Investing.com - U.S. crude prices turned negative after American crude oil inventories rose more than expected and output also jumped, increasing concerns over global supply.The EIA data showed that crude oil inventories increased by 5.783 million barrels in the week to Nov. 2.That was compared to forecasts for a stockpile build of just 2.433 million barrels, after a rise of 3.217 million barrels...Read More
Investing.com - Gold prices moved higher on Wednesday as midterm elections created a divided U.S. Congress, pushing the dollar lower.At 9:56 AM ET (14:56 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $5.40, or 0.44%, to $1,229.20 a troy ounce.Meanwhile, the?EUR?U.S. U.S. dollar index, which tracks the greenback against a basket of six maj...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resources The company said this week its 18-month assessment of what it called "best...Read More
CALGARY, Alberta, Nov.08, 2018(GLOBE NEWSWIRE) -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU - OTC: CPFXF) is pleased to provide its shareholders an update on the progress of the 2018 program for the Schaft Creek copper-gold-molybdenum project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek Joint Venture ("SCJV")....Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resourcesJacques invited the industry to focus on how to stay relevant in the 21st cen...Read More
Resource and expansion drilling at the Kutcho copper-zinc project in B.C. has extended mineralization down dip of its Main deposit, reports Kutcho Copper Corp. (TSXV: KC; US-OTC: KCCFF).Mineralization was extended 50 metres down dip from previous drilling and beyond the project's existing resource model in drill hole KC18-280, which returned a 5.4 metre intercept from 193 metres down hole grading...Read More
After a surge in prices last year, enthusiasm for cobalt has been fading, partly because of a surge in new supply. But sentiment could be changing after Glencore's unit in the Democratic Republic of Congo suspended cobalt sales after detecting low levels of radioactivity.Glencore Plc's sudden discovery that some of its cobalt is radioactive could not have come at a better time."It's nice to finall...Read More
Afghanistan selected preferred bidders for three gold and copper mines in 2012. It took the war-torn nation six years to finally sign the contracts.Afghan President Ashraf Ghani announced the deals in the past few weeks. The government took time to finalize the agreements because it wanted to ensure they were transparent and will help eliminate corruption in awarding contracts, Ghani said in an in...Read More
Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it's investing in platinum...Read More
TOKYO/GENEVA, Nov 6 (Reuters) - A World Trade Organization (WTO) dispute panel largely upheld Japan's complaint against a safeguard duty imposed by India on steel imports for two-and-a-half years, a ruling published on Tuesday showed.The ruling, which can be appealed by either side, said India had broken the WTO rules and urged India to take corrective action, even though the disputed duties ended...Read More
* Iran says it is selling oil it needs to, despite U.S. pressure* U.S. crude production seen averaging 12.06 mln bpd in 2019 -EIA* U.S. crude stocks rise by 7.8 mln barrels, topping views (Updates with API data)By Stephanie KellyNEW YORK, Nov 6 (Reuters) - Oil prices fell on Tuesday, with U.S. crude futures hitting an eight-month low, a day after Washington granted sanction waivers to top buyers o...Read More
MUMBAI, Nov 6 (Reuters) - Former Reserve Bank of India Governor Raghuram Rajan defended the central bank's call for greater autonomy from the government, saying ultimately the nation stands to benefit from an independent and robust RBI.In an interview on CNBC-TV 18 telecast on Tuesday Rajan said current rift between the central bank and the government can be resolved if both sides respect each oth...Read More
Investing.com - Gold prices moved higher on Tuesday as voting in the U.S. midterm elections got underway and traders opted for safety ahead of the outcome.At 9:13 AM ET (14:13 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $4.40, or 0.36%, to $1,234.20 a troy ounce.Voters on Tuesday will decide key races in Congress and state governments,...Read More