Danakali has been working with its 50% joint venture partner, state-owned Eritrean National Mining Corporation, to progressively de-risk the 1.1 billion tonne sulphate of potash project in the Danakil basin.It was granted a mining licence in 2017, completed a front end engineering design earlier this year, and last month signed a take-or-pay offtake agreement for up to 100% of Module One SOP produ...Read More
In just over a year since Orion Minerals acquired its flagship Prieska copper-zinc project, it has established a substantial resource and is on track to complete a bankable feasibility study around the end of this year, with production slated for 2020.The rapid developments are now enabling the company to turn its attention elsewhere in the Areachap terrain to the equally exciting Jacomynspan nick...Read More
Labor negotiations at Chile's Escondida copper mine, the world's largest, are frozen without signs of progress toward an agreement just over a week before the current contract expires, the union said in an internal message to its members.The union said mine owner BHP rejected union demands made last week, raising the prospects of a strike at the mine for the second straight year. Last year's 44-da...Read More
The Peruvian Ministry of Energy and Mines determined that Canada's Miramont Resources (CSE: MONT) is not eligible for an automatic approval of its drilling permit for the Cerro Hermoso project, as it is possible that the exploration activities may affect Indigenous communities. In a press release, the Vancouver-based miner explained that since its Environmental Impact Statement was approved earlie...Read More
Investing.com - Gold prices rose on Friday as U.S. President Donald Trump criticized the Federal Reserve for increasing interest rates.Comex gold futures for August delivery rose 0.47% to $1,229.70 a troy ounce as of 10:29 AM ET (14:29 GMT).Trump said in an interview on CNBC that he does not approve of how the Fed is approaching monetary policy. The Fed raised rates twice this year and is expected...Read More
(Bloomberg) -- The mayhem in industrial metals is creating waves across $1.4 billion of exchange-traded products tracking the sector.Their prices are whipsawing, investors are bailing, and some may be profiting spectacularly from the sector’s collapse.While base metals secured a reprieve Friday, they’ve been rattled by a sell-off over fears for Chinese demand and the Sino-U.S. trade wa...Read More
Investing.com - Metal prices were higher but gold inched down amid comments from U.S. President Donald Trump, who criticized the Federal Reserve for increasing interest rates.Comex gold futures for August delivery inched down 0.04% to $1,223.50 a troy ounce as of 4:32 AM ET (8:32 GMT).Trump said in an interview on CNBC that he does not approve of how the Fed is approaching monetary policy. The Fed...Read More
MUMBAI, July 20 (Reuters) - Vedanta Ltd VDAN.NS would suffer a loss of about $100 million if its Tuticorin copper smelter in southern India continues to remain shut for a year, Chairman Anil Agarwal told television channel ET Now on Friday.The smelter has been shut since May after the Tamil Nadu (NS:TNNP) state government cut power supply to the unit, following violent protests over alleged pollut...Read More
(Bloomberg) -- The market turmoil spurred by the Chinese yuan’s tumble to a one-year low is putting traders on alert during the normally sleepy Northern hemisphere summer.As the onshore yuan plunged 0.9 percent Thursday, its biggest drop since 2015 on a closing basis, it took most Asian currencies along for the ride amid broad dollar strength. Copper slid below $6,000 a metric ton for the fi...Read More
Only two per cent of Australia's annual 3,300 tonnes of lithium-ion battery waste is recycled, says the consultancy CSIRO in a report on Lithium-ion battery recycling published Wednesday.The authors of the study want to emulate the same success that was achieved in recycling lead-acid batteries. Of the 150,000 tonnes of lead-acid batteries sold in 2010, CSIRO says 98 per cent were recycled.The aut...Read More
* Trump 'not thrilled' about U.S. interest rate hikes* Dollar retreats from year high vs major currencies* Copper hits one-year low as fund selling accelerates* Brent slips as focus returns to oversupply (Updates with close of U.S. trading)By Lewis KrauskopfNEW YORK, July 19 (Reuters) - The U.S. dollar pulled back from year-high levels on Thursday after U.S. President Donald Trump expressed concer...Read More
BRUSSELS, July 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:APPROVALS AND WITHDRAWALS-- Spanish fashion and cosmetics maker PUIG and German electrical appliances maker Bosch (NS:BOSH) Group's unit BSH to jointly acquire Spanish perfume maker Noustique (approved July 18)-- Metals and commodities company Liberty House G...Read More
* Trump 'not thrilled' about interest rate hikes* Dollar retreats from year high vs major currencies* China boosts liquidity, set for more policy easing* Copper hits one-year low as fund selling accelerates (Updates with afternoon trading)By Lewis KrauskopfNEW YORK, July 19 (Reuters) - The U.S. dollar pulled back from year-high levels on Thursday against a basket of major currencies, while U.S. Tr...Read More
* Strong dollar hits metal prices, could hit results of MNCs* Weak results, flattening yield curve hurt financials* Comcast gains on dropping Fox bid; Fox down, Disney up* Dow, S&P, Nasdaq drop; Small-cap Russell 2000 moves higher* Trump says "not thrilled" about Fed decision to hike rates (Changes comment; adds details, prices)By Amy Caren DanielJuly 19 (Reuters) - U.S. stocks were...Read More
* China boosts liquidity, set for more policy easing* Dollar hits 1-year high against group of major currencies* Copper hits one-year low as fund selling accelerates* Wall Street hit by weak earnings, escalating trade tension (Updates with open of U.S. markets; changes dateline, previous LONDON)By Lewis KrauskopfNEW YORK, July 19 (Reuters) - The U.S. dollar hit a year high on Thursday against a ba...Read More
Investing.com - Metal prices continued to falter on Thursday amid trade concerns and a strengthening U.S. dollar.Comex gold futures for August delivery decreased 0.88% to a one-and-a-half-year low of $1,217.10 a troy ounce as of 10:58 AM ET (14:58 GMT).The precious metal was held back as trade tensions continued after China said the White House was wrong to blame Chinese President Xi Jinping for b...Read More
* Dollar hits 1-year high against group of major currencies* Pound falls below $1.30 as Brexit, data woes continue* European shares flat, Wall Street expected to dip* China yuan hits 1-year low on stimulus, tariff issues* Metals badly dented by China worries** Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Marc JonesLONDON, July 19 (Reuters) - The dollar climbed to a one-year high but...Read More
Fatality at Serabi mine: NMBCapital marketsArizona deal a sign of relaxed capital discipline?M&A"We have had some really positive surprises out of this process"LeadershipKing River's 'overnight' success story stretches back to 1970SPONSOREDking river copperMining Journal: Why did you hand back the 30% of T3 and take a stake in...Read More
Hudbay to take part of Doubleview's HatM&ASolGold set to shineSPONSOREDsolgold Nifty produced 8,853 tonnes of copper in the first half of the year, behind where the company expected.Metals X was around 4-6 weeks behind where it expected to be at the end of June, but the completion of the replacement of 4.4km of conveyer for the underground crusher was completed during the quarter, paving...Read More
SANTIAGO, July 19 (Reuters) - A union representing workers at Lumina Copper's Caserones mine in Chile said on Thursday that contract negotiations with the company had failed, paving the way for a potential strike.The union said that because of the breakdown it would reject a final proposal that could be submitted by the company up to July 24, and that government mediation would be the only way for...Read More