SHANGHAI, Apr 10 (SMM)? 1/4 ?Nonferrous metals closed higher across the board on Tuesday April 10 except for SHFE lead. Nickel rose close to 2%, copper gained over 1% and aluminium inched up close to 1%. Zinc and tin edged higher.The ferrous complex also climbed, except for coking coal. Iron ore increased over 2%, hot-rolled coil gained 1.8%, rebar rose over 1% and coke edged up.Copper: As shorts...Read More
Shares in the company shot up to touch a 52-week high intraday of C75c.The result was part of a broader 351.8m that graded 1.28g/t from surface along the entire length of Trench 1.Evrim's vice-president of new opportunities and exploration Charles Funk said the initial results were impressive in terms of grade and size potential.He said IP geophysics had highlighted a 100m deep by 300m long high r...Read More
SHANGHAI, Apr 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar edged down 0.3% to 89.83 overnigh as euro climbed up. Most base metals rose. SHFE nickel rose close to 2%, aluminium increased over 1%, copper gained 0.7%, and zinc and tin inched up. SHFE and LME lead edged down. LME zinc dropped close to 1%, while coppe...Read More
Brokers SVS Securities and Novum Securities arranged the placement of 28.6 million ordinary Kibo shares at a price of £0.0525 per share.Kibo's shares were trading at £0.0545 per share Tuesday, down 12.1% from the previous close.The company needed to bolster its balance sheet ahead of the further work at its 97.5%-owned Mbeya coal to power project in Tanzania, with the power purchase ag...Read More
SHANGHAI, Apr 10 (SMM) –Copper: With upward room and firm support, LME copper broke the 20-day moving average while SHFE copper traded rangebound between the five- and 20- day moving averages. We see upbeat momentum in copper prices in the mid and long term but see pressure in the short term given high global inventories. We expect LME copper to trade at $6,800-6,850/mt today...Read More
Carman said the non-brokered private placement brought in "several Peruvian investors to the Tinka shareholder register for the first time", while he noted Sentient Equity Partners now owned about 24.7% of the company (23.9% on a fully diluted basis).The first-tranche shares were issued at 48c. Tinka was trading at 47c overnight, capitalising the company at C$105.65 million."During 2018 we are pla...Read More
Strategic will hand over 41.6 million shares worth a total value of A$1.45 million (US$1.12 million) to Resilience for the mine. Read More
In late February he had given himself a three-month timeframe to complete the charter. Read More
The US Treasury made the announcement on Friday and in the days since EN+ (RS:ENPL) and Rusal have been smashed on global stock markets with falls of over 50%.Glencore owns 8.75% of Rusal and has contracts for the "purchase of aluminium and alumina".The Swiss trading and mining firm dropped off around 3.4% in London following the sanctions, but has recovered several points in early Tuesday trading...Read More
Hamish Sampson, a mining analyst with consultancy firm CRU, told the International Mining Exploration Forum that around 220 mines that produced around 40% of the world's copper last year were slated to close for lack of reserves.Read More
On Monday, Codelco said 82% of supervisors in a union at Chuquicamata had agreed to the company's latest offer in collective bargaining.In a translated statement, the company said the majority of professional workers in the union had agreed to the three-year contract, which was "fully in line with the company's austerity guidelines and the organisation's transformation challenges".On Friday, Codel...Read More
Those worried that the positive momentum in the mining and metals sector is beginning to wane after two years of strong gains may find encouragement from a new survey by private capital tracker Preqin.Fundraising by unlisted funds for investment in mining and metals was a non-starter last year. A single private capital fund closed last year after rustling up all of $24 million.A further 13 funds...Read More
Despite an increased appetite in copper assets, the rate of new discoveries continues to be low, especially in top world's producer Chile, where the bulk of exploration is in the hands of major miners, the head of the Chilean Mining Society (Sonami) said Monday.Speaking on the sidelines the 17th World's Copper Conference being held this week in Santiago, Chile, Diego Hern??ndez, President of Sonam...Read More
(Bloomberg) - Copper prices will rise this year as investors look past the ample global supplies and market turbulence to focus on the metal's long-term outlook, according to Trafigura Group's chief economist.Copper has been buffeted in recent weeks by rising inventories, risks to global trade and signs that miners are managing to strike new wage deals without major interruptions to supply, said...Read More
SummaryGovernments of mining countries are vulnerable to investors using double tax agreements (DTAs) as a means of avoiding paying taxes. DTAs are bilateral, or multilateral agreements between countries that set out which country has the right to collect tax on different types of income. Interest expense on foreign loans is one such source of income. The DTA will specify how much tax the source c...Read More
(Bloomberg) - Anglo American Plc is looking past global trade tensions and local political upheaval as it moves toward a multibillion-dollar decision on building the world's next major copper mine, in Peru.The London-based company is on track to present the Quellaveco project to its board around midyear and is the final stretch of bringing in a partner to shoulder some of the cost, Hennie Faul,...Read More
(Bloomberg) - Just as labor tensions ease at BHP Billiton Ltd.'s giant Escondida mine, the copper industry has another iconic mine to worry about.Relations between the world's largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years as the mine transitions from open pit to an underground model that will use more automation and employ fewer w...Read More
* Impact on aluminium prices seen limited* U.S. aluminium premiums expected to rise further* U.S. imported 695,778 tonnes of Russian aluminium last year* Some Japan customers to keep supply deals, change settlement currencyBy Melanie BurtonMELBOURNE, April 9 (Reuters) - Rio Tinto will be among the biggest winners from the U.S. sanctions imposed on Russian aluminium giant United Company Rusal as th...Read More
Investing.com - Gold prices may continue to be underpinned by safe haven demand and a softer dollar in the coming week after rising on Friday amid renewed fears over trade tensions between the U.S. and China and after a weaker than expected U.S. jobs report.Metals traders will be watching developments relating to trade policy as tensions between the world’s two largest economies continue to...Read More