SHANGHAI, May 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US-Sino trade concerns eased, the US dollar surged to a high of 93.97 overnight. It closed 0.1% lower at 93.55.Base metals received support as fears of a trade war abated but faced resistance from a stronger US dollar. LME base metals rose across the board with...Read More
Investing.com - Gold prices were paring losses in midmorning trade on Monday as investors evaluated mixed messages with regard to U.S. trade.At 10:33AM ET (14:33GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $3.70, or around 0.3%, to $1,287.60 a troy ounce, well off an intraday low of $1281.20.China and the U.S. agreed to halt imposing punit...Read More
MUMBAI, May 21 (Reuters) - India's Multi Commodity Exchange (MCX) MCEI.NS said it launched the country's first copper options contracts on Monday.Three contracts expiring in June, August and November with a lot size of 1 tonne were launched, the exchange said in a statement.The option contract will provide physical market participants an additional instrument to hedge their risk, said MCX Managing...Read More
(updates prices, adds quotes, context)* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* European stocks, Wall Street futures rise* Dollar gains, euro under pressure* Italian anti-establishment parties closer to power* Milan bourse suffers, yield on Italian debt rise* Oil prices near 3-1/2-year highsBy Julien PonthusLONDON, May 21 (Reuters) - Stocks, oil prices and the dollar were on the...Read More
Investing.com - Gold prices moved lower in early morning European trade on Monday as U.S. Treasury Secretary Steven Mnuchin said a day earlier that a trade war between China and the U.S. is now on hold, reducing the demand for safe haven assets.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $8.60, or around 0.7%, to $1,282.70 a troy ounce by 4:33A...Read More
The major gold miners' stocks are still largely grinding sideways, mired in a bearish sentiment wasteland. Traders tend to assume low stock prices must be righteous, reflecting weak fundamentals rather than poor psychology. But once a quarter earnings seasons' bright fundamental sunlight parts the obscuring fogs of popular sentiment. The gold miners' just-reported Q1'18 results prove they rema...Read More
Many questions remain to be answered, of course, about how effectively different companies, boards and agendas (and stakeholder groups) can combine to deliver sustainable outcomes in the "soft" areas Schafer spoke about at the ResourceStocks Sydney 2018 conference, including early community and government relations work that leads into life-of-project corporate social responsibility programs and u...Read More
SHANGHAI, May 22 (SMM) – Nonferrous metals futures saw mixed trading on Tuesday May 22. SHFE lead continued to lead an increase of over 2%, and copper and tin edged up. SHFE zinc lost 1.3%, aluminium dropped over 1% and nickel slid close to 1%.The ferrous complex registered another day of weak performance. Iron ore fell 2.6%, coke dropped over 2%, rebar slid over 1%, hot-rolled coil los...Read More
SHANGHAI, May 22 (SMM) – China invested 99.3 billion yuan in power grid projects in the first four months of this year, down 24.1% year on year, according to data from the China Electricity Council.Planned investment in 2018 by the State Grid is 7.1% higher than in 2017. Thus, SMM expects investment in power grid projects to grow the rest of the year. For editorial queries, please...Read More
The company said its recent consolidation, through options, purchase agreements and strategic staking, was the "first time since gold was discovered here in the late 1890s that this land has been under single management".It is planning a 6,000m diamond drilling programme to start next month.Margaux said the district had historic production of 785,000 ounces at an average grade of 14.4g/t gold and...Read More
SHANGHAI, May 22 (SMM) – Spot copper was mostly offered at a discount of 90 yuan/mt to flat over the SHFE 1806 contract on Tuesday May 22 in the Shanghai market. This compared with a discount of 50 yuan/mt to a premium of 20 yuan/mt on Monday.Sellers lowered offers from Monday as thin transactions grew supplies. Offers of standard-quality copper were lowered first in the morning t...Read More
The investors putting in A$11 million (US$8.35 million) are paying 3c per share, with Titan's ambitions entailing use of a combination of plants with combined capacity of 415,000 tonnes per annum.Read More
It has agreed to issue 44.4 million ordinary shares at 5p each to discretionary asset manager Lombard Odier Asset Management, which already owns a 5.78% share in Rambler.Read More
SHANGHAI, May 22 (SMM) – Copper: LME copper stuck between all moving averages with support at the 40-day moving average overnight. It rebounded and closed higher at $6,898/mt after it dipped twice as the US dollar gained and LME copper inventory registered a fourth consecutive day of gain of 1,425 mt. We see it rising to $6,870-6,930/mt today as pressure from shorts let up. Th...Read More
This is an increase on the previous cycle's $524 million but an 18% and 2.3% drop from the first and second cycles of the year, respectively, with the first cycle usually getting a boost because of the post-Christmas restock, De Beers said.Read More
The stone was a 115ct top white colour type 2a diamond.Others found this year included the Lesotho Legend, an exceptional quality 910ct D colour Type 2a diamond, which was the second largest diamond recovered in the past century and the largest recovered at Letšeng to date. It was sold in March for US$40 million.Others recovered included top white colour type 2a diamonds of 169ct and 152ct...Read More
The stone was recovered during the first two days of trial processing through the bulk sampling plant after recent efficiency and security upgrades and came from the "neck zone" of the mine, which is not part of the current over 1 million carat JORC resource.It also recovered a 6ct diamond from the same zone during the trial processing.Once the plant's modifications are signed off, it will start p...Read More
Now in its third year, the search aims to showcase the impact and contribution of women within the global mining industry and identify inspirational role models.The 2018 edition is co-sponsored by BMO Capital Markets and is open to any women in the mining sector, including related or supportive industries."As ever, WIM is keen to see the full array of natural resource sector roles represented in t...Read More
Virginia Uranium says the state's ban on uranium mining is pre-empted by federal law and had filed the petition for writ of certiorari, to appeal an earlier court decision that found against the company.It is a subsidiary of Virginia Energy Resources (TSXV: VUI) which owns the Coles Hill uranium deposit that it has described as the largest undeveloped uranium deposit in the US and one of the large...Read More