Investing.com - Gold was lower on Thursday, as a higher U.S. dollar kept prices down.Comex gold futures for June delivery were down 0.23% to $1,319.70 a troy ounce as of 10:35 AM ET (14:35 GMT).The price of bouillon was driven lower by the rise in the greenback. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.25% to 91.26.Gold i...Read More
Investing.com - Gold prices were off their best levels of the day on Thursday as strength in the dollar and Treasury yields continued to weigh, keeping prices within reach of three week lows.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were trading at $1,323.50 by 04:54 AM ET (08:54 AM GMT), off an earlier high of $1,327.80.Gold prices settled with a los...Read More
BENGALURU, April 26 (Reuters) - Gold prices on Thursday stayed close to five-week lows hit in the previous session, pressured by a stronger dollar, which hovered near more than three-month highs, and a rise in U.S. Treasury yields.FUNDAMENTALS* Spot gold XAU= was little changed at $1,323.34 per ounce at 0101 GMT. The yellow metal on Wednesday hit a low of $1,318.51 an ounce, its lowest since March...Read More
The gold miners' stocks have mostly been consolidating low this year, exacerbating bearish sentiment. Even with gold grinding higher in a solid uptrend and nearing a major upside breakout, the gold stocks just can't get any love. But that may be about to change, with gold and its miners' stocks in the midst of their spring rally. Strong seasonal tailwinds make May one of the best months of the yea...Read More
Founding shareholder O'Rourke will leave the company on June 1, although will remain as non-executive chairman and a director on the board.Clausen will join Copper Mountain after he finishes working on the acquisition of Brio by Leagold Mining.He has more than 30 years' experience in the base and precious metals industry, most recently as CEO of Brio Gold (from 2014) and before that as CEO of...Read More
The company has appointed Ian Reid to the board as a non-executive director. He is currently a non-executive director at Canadian Western Bank, Stuart Olson and Associated Engineering and Voice Construction, as well as chairman of Fountain Tire.Reid previously held several senior management positions at Caterpillar distributors and became president of Finning in Canada from 1997 until he retired i...Read More
The AIM-listed dump leach retreatment play bought the Sasa zinc and lead mine last year as a way to diversify its revenue base.Last month, CAML announced Nick Clarke would drop the ‘executive' from his chairman title and those duties would go to CFO Nigel Robinson as the CEO. Gavin Ferrar was promoted to CFO in his place. Yelland has been at Shanta since 2015 and was promoted from...Read More
The dividend of Rb147.12, or US$2.35, per ordinary share was recommended by the board of directors and is subject to shareholder approval at an annual general meeting on May 31.The dividend record date will be June 10 and will bring the total pay-out for 2017 to US$550 million, including the $239 million paid out in October for the first half of the year.Polyus' current dividend policy requires a&...Read More
SHANGHAI, Apr 27 (SMM) – Nonferrous metals rebounded for the most part except for copper. SHFE nickel led the gains with a rise of over 1.3%, lead went up nearly 1%, while tin, aluminium, and zinc inched up. The ferrous complex saw mixed trading with slower rates of decline. Iron ore, coking coal, and coke dipped over 1%. Hot-rolled coil and rebar closed nearly 1% higher....Read More
The assets include the operating Valunisty gold mine and 31,000 ounce per annum processing plant and two large licence areas, Kanchalano-Amguemskaya Square (KAS) and Kayenmivaam.At January 1, the JORC proven and probable ore reserves of Valunisty and KAS were 3.4 million tonnes at 5.1g/t gold equivalent and their indicated and inferred mineral resources were 17.6Mt at 3g/t Au equivalent. &nb...Read More
The company had previously assessed the overall potential contribution to the company's performance, looking at project financing, joint venture and disposal opportunities, and decided that the disposal was the best option for shareholders.It only started commercial production at Choco in mid-August last year."Bezant will now pursue a strategy focussed on building value from its copper-gold assets...Read More
The copper producer plans to invest US$6.7 billion developing the Tia Maria, Los Chancas and Michiquillay projects which would together add 500,000 tonnes a year of annual capacity. Last year, the company's Cuajone and Toquepala mines produced 281,000 tonnes of copper in concentrate.Read More
SHANGHAI, Apr 27 (SMM) – Tongling Nonferrous Metals reported net profits of 203 million yuan for the first quarter of this year, up 40.5% year on year, according to its earnings report on Thursday April 26. This compared with an average growth of 98.4% for the nonferrous smelting and processing industry.The company’s revenue amounted to 17.74 billion yuan during the three-month p...Read More
First Quantum produced 145,358 tonnes of copper from Sentinel during the three-month period, up 39% year-on-year, at an all-in sustaining cost of US$1.72 per pound ($3,791.95 per tonne).Read More
SHANGHAI, Apr 27 (SMM) –Copper: LME copper rebounded from a low and traded rangebound overnight. Technically, it continued to stand above all moving averages with sufficient support but its trading level dipped. The SHFE 1806 contract came off a high with support at the 10-day moving average and resistance at the five- and 60-day moving averages. We expect LME copper to trade at $6,900-...Read More
Smart Solutions uses data and analytics to optimize our customers' operations, but for those operating a room and pillar mine that relies on batch haulage (such as shuttle cars and battery haulers) things can get tricky. Until recently, the only information available for the entire system was coming from one machine: the continuous miner. While those figures are useful, they don't provide a comple...Read More
SHANGHAI, Apr 27 (SMM) – Monthly treatment charges (TCs) of imported copper concentrate fell to about $70/mt in April, as domestic smelter capacity for copper concentrate grew faster than the number of new copper mines, SMM learned.April's price is a record low since August 2013. Monthly TCs began to decline in November 2017.Labour negotiations at overseas mines have progressed...Read More
Goldcorp-backed Auryn Resources Inc. (TSE:AUG) announced today that it is close to becoming a big player in the Andahuaylas-Yauri belt in southern Peru.The reason behind such assertion is the company's recent addition of 60,000 hectares to its Sombrero project, which means that now its land position is greater than 100,000 hectares. The decision to stack was taken after the company received the re...Read More
Chilean Finance Minister Felipe Larra?-n and his Mining counterpart Baldo Prokurica said today that the government that came to power in March will ensure state copper giant Codelco receives capital incentives so that it can continue to grow.Following Codelco's annual shareholder meeting, Larra?-n and Prokurica said the new capitalization process and the amount that will be provided have to be def...Read More