Speaking at ResourceStocks Sydney 2018, CSA Global's Mark Allen said there had been a fairly consistent deficit in zinc since the 400,000 tonne per annum Century mine in Queensland closed in 2015.Read More
Only one-third of the 15 - BHP, Zijin Mining, KAZ Minerals, Norilsk Nickel and Anglo American - reported positive production growth for the first three months of 2018.As a result, the top 15 companies' quarter-over-quarter production fell by 136,548 tonnes, or 4.8%.However, on year-on-year basis, production rose by 14.8%, or 345,725t, over the period, though the result was skewed by the interrupti...Read More
One of the initial aims of the programme is to set up a 4G LTE network underground to improve communications, and better enable digitalisation and automation.Speaking on the sidelines of a West Australian Mining Club lunch in Perth yesterday, CEO Stuart Tonkin said 4G trials were now underway and he hoped to have a system in place this year.During his presentation, he said it would provide a step-...Read More
The aim of the drilling was to convert the current inferred resources to the indicated and measured resource category and extend the total mineral resource to support the January prefeasibility study's expansion case.The partners have received assay results for all holes to be included in the revised mineral resources estimate, with 70%-owner MOD noting that all results received so far were in lin...Read More
An analyst team led by Colin Hamilton said in a new report the amount of copper needed for electrification combined with the slow build of new supply meant a supply gap could widen in 2025 and keep growing."While electric vehicles dominate growth conversations in metals and mining, renewable energy is significantly more important for copper, and expectations of solar and wind installations are con...Read More
THOOTHUKUDI, India, May 24 (Reuters) - India's Tamil Nadu state said on Thursday that it was seeking a permanent closure of a big copper smelter run by London-listed Vedanta Resources after 13 people died in protests demanding the closure of the plant on environmental grounds."The government's position is very clear, it doesn't want the plant to run," said Sandeep Nanduri, the top official of the...Read More
Consulting firm McKinsey put a note out on Thursday calling attention to "three surprising resource implications from the rise of electric vehicles".Number one is that oil & gas investors can sleep well for at least the next decade as the impact of the move away from internal combustion engines will only modestly impact demand for fossil fuels.In fact, demand for natural gas fired power stations -...Read More
By Marc O'Connor, Deloitte Mining Capital Programs leader and Bora Pasuljevic, Director, Mining Capital Projects, Deloitte UKWith global economic activity improving and new technologies providing opportunities for growth, mining companies are preparing to launch into a new wave of investment. But as they eye the next uptick in the CapEx cycle, mining companies should first focus on rebuilding trus...Read More
SPCC has been processing copper and other metals in Peru since 1960. It is part of the US-based mining and metallurgical group SCC, which generates annual revenues in excess of $6billion around the world. The Peru arm of the business is the country's largest producer of copper, amongst other outputs which include molybdenum, zinc, silver, lead and gold.The company's operations are distributed ac...Read More
LONDON, May 24 (Reuters) - Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash.A dividend would set Anglo Asian apart from many London-listed junior miners, which typically are busy exploring and need to raise money rather than to hand it out."T...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) blasted Thursday comments made by the Association of Mineworkers and Construction Union (AMCU) accusing the company of failing to take precautions two avoid injuries at its mines.According to the union, a seismic event on May 22 caused a fall of ground at the company's Ikamva mine, part of Kloof operations, leaving two employees inj...Read More
It intersected 85.8m at 0.39g/t gold and 1.44% from 39.6m; however two other holes did not intersect significant values.It said the average of the first-mentioned drill hole was calculated after cutting two very high copper values, of 36% and 7%, to the value of the third highest of 3.4%.The company recently received a permit to drill in the Sombrero area to the north of Caballito, which president...Read More
SHANGHAI, May 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell after it rose to a five-month high of 94.2 last night. It lost some gains after the US Federal Reserve released its meeting minutes overnight and disclosed that interest rates would not be raised at a faster-than-expected rate. As su...Read More
* FTSE 100 down 1.1 pct* Pound falls on weak inflation* M&S rises after full-year update* Commodities a drag (Adds quotes, closing prices)By Kit Rees and Julien PonthusLONDON, May 23 (Reuters) - The UK's top share index was knocked down of its highs on Wednesday and sustained its biggest loss in two months as oil majors and commodity-related stocks fell but well-received results made Marks &am...Read More
Investing.com - Gold prices were lower on Wednesday, as investors looked ahead to the meeting minutes of the Federal Reserve and the dollar strengthened.Comex gold futures for June delivery were down 0.24% to $1,288.90 a troy ounce as of 10:34 AM ET (14:34 GMT).Investors are looking ahead to the latest meeting minutes from the Federal Reserve. The minutes are set to be released at 2:00 PM ET (18:3...Read More
* NSE index closes 1 pct lower, BSE index down 0.9 pct* Vedanta drops to lowest close since June 30, 2017* HPCL falls nearly 8 pct, ONGC drops 5.3 pctMay 23 (Reuters) - Indian shares fell on Wednesday, dragged by energy stocks such as Hindustan Petroleum Corp Ltd HPCL.NS and Oil and Natural Gas Corp Ltd (ONGC) ONGC.NS on rising concern that the government may ask state-owned oil firms to share t...Read More
Investing.com - Gold prices were on the back foot in early dealings on Wednesday, hovering near the lowest levels of the year as investors waited for minutes from the Federal Reserve's meeting for clues on the outlook for U.S. interest rates.Comex gold futures were down around 0.1% at $1,291.10 a troy ounce by 3:20AM ET (0720GMT). It slid to as low as $1,281.20 earlier this week, a level not seen...Read More
* NSE index down 0.3 pct, BSE slips 0.14 pct* OMCs, refiners top losers* SBI, Cipla gainBy Krishna V KurupMay 23 (Reuters) - Indian shares fell on Wednesday pulled down by oil companies, while mining and energy conglomerate Vedanta Ltd VDAN.NS hit an over 10-month low as protests against its copper plant in south India turned violent.State-owned oil refiners as well as marketing companies, such...Read More
(Adds details on results, analyst estimates, context on commodity prices)May 23 (Reuters) - British mining and energy conglomerate Vedanta Resources Plc VED.L reported better-than-expected growth in full-year core profit and revenue on Wednesday, driven by stronger commodity prices.A rebound in metals prices has prompted the miner, controlled by billionaire Chairman Anil Agarwal, to expand produ...Read More