The company plans to produce 105,000-115,000 ounces of gold in 2018, including the March quarter.It produced 18,785oz of gold at an average grade of 2.96g/t during the three-month period, with 9,912oz poured in March alone.Total ore processed during the period was 238,628 tonnes at a recovery rate of 96.1%.The company completed construction of the plant and commissioning in late 2017 at an $88.5 m...Read More
Gold sold in the March quarter was 119,976oz at all-in sustaining costs of A$1,075 per ounce, taking year-to-date sales to 387,254oz at AISC of $1,053/oz.The company narrowed full-year guidance to 540,000-560,000 from 525,000-575,000oz, with AISC guidance left unchanged at $1,000-1,050/oz.June quarter production is expected to jump to 150,000oz of gold."They say the journey is better than the arri...Read More
The Ross Beaty-chaired company said on Friday that its Huaron operations had been suspended since Tuesday due to road blockades by the Huayllay community.Read More
According to Atlas Copco's financial figures for the three months to March 31, Epiroc enjoyed an 18% growth in orders received compared with the same period in 2017.It also had an 11% jump in revenues to 8.2 billion Swedish krone (US$945 million) and a 7% rise in operating profit to SEK1.5 billion. The reported operating profit includes SEK95 million in one-time costs related to the split and the...Read More
Matilda, which has offices in Toowoomba, Mackay and Perth, has a fleet of 83 pieces of mining equipment with an average age of 9,300 hours, compared to Emeco's average of 25,000 hours.Read More
CALGARY, Alberta, April 30, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to provide analytical results for eight of the re-sampled trenches on its 100% owned Mineral Mountain copper project located near Florence, Arizona (see news release dated February 8, 2017). The balance of the trenching results will...Read More
Zenith Energy (ASX: ZEN) managing director Hamish Moffat said the company had achieved a high strike rate in securing three big new build-own-operate (BOO) contracts with Newmont Mining, Dacian Gold and Gascoyne Gold since its 2017 IPO and listing, as well as contract extensions. With Newmont's power plant at Tanami in central Australia to be commissioned early in 2019, Zenith will have more than...Read More
RBC analyst Tyler Broda changed the miner's rating to "outperform" Monday from the previous "top pick", with the target price also lowered to £4.10 (US$5.63) per share from the previous £4.60/share.Read More
It said in a statement over the weekend that a series of work stoppages in the March quarter, caused by industrial action by mining contractor employees, which then spread to other operations, would affect its ability to reach the mine's guidance.However, the company was "making a determined effort to recover most of the lost output", with operations back at full capacity. These efforts inclu...Read More
Exclusive information obtained by the Associated Press revealed that Atlantic Richfield, owner of the former Anaconda copper mine in Nevada, was suddenly halting the free home delivery of bottled water it has provided since 2004 to about 100 families from the Yerington Paiute Tribe who were affected by polluted effluents from the operation.In detail, poisonous groundwater seeping since 2000 from a...Read More
Economics has been called "the dismal science" for its conclusions which often suggest miserable outcomes for humanity. The saying was born in the 19th century by Scottish writer and philosopher Thomas Carlyle, who was referring to economist Thomas Malthus. Malthus famously calculated that humanity was trapped in a world where population growth would outstrip resources and lead to widespread miser...Read More
Peru's new President, Mart?-n Vizcarra, said Saturday that he was in favour of promoting mining development in his country as long as it is done in an environmentally responsible way.During a visit to the southeastern region of Puno that has been severely affected by illegal mining operations, Vizcarra said that he is "pro-development" and that all projects that involve bringing progress to the re...Read More
Investing.com - Gold prices held steady in early morning European trade on Friday as investors looked ahead to U.S. data on first quarter economic growth.Comex gold futures slipped $0.80, or 0.06%, at $1,317.100 a troy ounce by 3:33AM ET (7:34GMT). The preliminary reading of first-quarter U.S. GDP at 8:30AM ET (12:30GMT) is expected to show the economy expanded 2.0%, down from the fourth quarter g...Read More
Pan American Silver (TSX: PAA; NASDAQ: PAAS) acknowledged today that it had to suspend operations at its Huar??n mine, located in the Peruvian central region of Pasco.In a press release, Pan American said that activities at the site were halted on April 24, 2018, as a result of road blockades carried out by members of the nearby Huayllay community."The community members have demanded compensation...Read More
Following a conciliation process between Andes Iron and Chile's Ministry of Environment, Antofagasta's First Environmental Tribunal decided to reverse a decision that forbade the Dominga copper and iron ore project from going forward.The new development means that the Environmental Assessment Commision of the central Coquimbo region now has to reassess the $2.5-billion initiative.In a press releas...Read More
(Bloomberg) - Ecuadorian officials have held talks with several foreign companies about the possibility of building a copper refinery as the smallest OPEC member looks to reduce its dependence on oil, the mining minister said.Chinese and Japanese companies and Glencore Plc "could be among those interested in the project," Rebeca Illescas said Thursday. The government intends to choose companies i...Read More
BEIJING, April 27 (Reuters) - Jiangxi Copper Co, one of China's top copper producers, posted its biggest quarterly profit in 3-1/2 years on Friday thanks to higher copper prices.Net income for the first quarter of 2018 came in at 766 million yuan ($120.9 million), up 41.5 percent from a year earlier, the Nanchang-based company said in a filing to the Shanghai Stock Exchange.The result is the highe...Read More
Join us at SMM’s Asia Metals Seminar during LME Asia week, co-hosted with Hong Kong Exchanges and Clearing Limited (HKEX) and Bloomberg, on Tuesday May 15.The event features global industry leaders who will share their perspectives on a range of topics including EV metals, battery materials, and base metals outlook amid supply volatility. The rising importance of index would also be discusse...Read More
SHANGHAI, Apr 27 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index continued to rise overnight, bolstered by strong economic data from the US as well as the 10-year treasury yield breaching the 3% threshold for the first time in four years earlier in the week.LME aluminium jumped 1.6% following news that Oleg Deripaska...Read More
(Bloomberg) -- One of the few hedge funds to survive the downswing in the commodity supercycle has a lesson for traders trying to navigate whipsawing aluminum prices: go short at your peril.While supply fears faded this week after the U.S. eased sanctions against United Co Rusal, traders should be alert to the risk that further disruptions will leave buyers short at a time when usage is booming, a...Read More