Shares in struggling South African platinum producer Lonmin (LON:LMI) collapsed Tuesday after Britain's Competition and Markets Authority (CMA) said it was examining whether the company's takeover by Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) would reduce competition.By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye's were down 4.9% in Johannesburg, even though the...Read More
SHANGHAI, May 15 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index covered lost ground to stand at 92.67 overnight. Base metals saw mixed trading last night. LME nickel surged 3.1%, alunimium gained 1.82% and lead rose over 1% on declining inventory and tight supply. Copper edged down, as LME copper inventorie...Read More
Last week we discussed the fundamentals of Gold, which do not appear bullish at the moment. Real rates (and yields) are rising and investment demand for Gold is flat. That in itself is a temporary but big missing link. However, we are referring to the missing link in the context of intermarket analysis. Gold is an asset that performs best when its outperforming its competitors. That's true of any...Read More
SHANGHAI, May 15 (SMM) – Most nonferrous metals rose on Tuesday May 15 except for SHFE copper and lead. SHFE nickel led the gains and closed 1.7% higher. Aluminium, zinc, and tin went up slightly. The ferrous complex rose across the board with coke leading the gains with a rise of over 1%. Coking coal increased nearly 1%, hot-rolled coil gained 0.7%, while rebar and iron ore inched up.C...Read More
For example, a project costing US$474 million to build that generates annual earnings of $270 million (EBITDA) for 3-4 decades.Read More
It said more than 40 holes would be drilled for about 7,000m at Elan South, with the focus on expanding Elan's JORC resources and refining the coal quality definition through extensive testing of samples extracted from large-diameter cores.The company has appointed a drilling contractor which will start in June, and a road construction contractor.It also aims to start drilling at the Panorama Nort...Read More
SHANGHAI, May 15 (SMM) –Copper: LME copper plummeted to a low of $6,850/mt last night as LME copper inventory grew 8,900 mt. This was the first increase in inventory after close to two weeks of decline. LME copper stood below the five-day moving average with significant pressure from several moving averages above. It is likely to trade at $6,850-6,900/mt today. The SHFE 1807 contract was dra...Read More
It said Tuesday the JORC-compliant PGM resource had grown 53% to 1.45 million ounces, with the global ore volume up 50% to 34.5 million tonnes at 1.3g/t PGM and gold.In the rest of the commodity basket, the nickel resource rose 28% to 140 million pounds (635 tonnes), the copper resource was up 11% to 26Mlb and the cobalt resource increased 4% to 6.7Mlb.Jangada said there was potential to increase...Read More
During the March quarter, the mine ran at a rate of 3.6 million tonnes per annum, outperforming its 3Mtpa nameplate capacity.Read More
The name change will reflect its renewed strategic direction and focus on its high-quality gold exploration targets in the Northern Territory's Tanami region where it aims to accelerate testing.The change will take effect after the Australian Securities and Investments Commission alters the ABM's registration details in the coming weeks, with the ASX listing code changing to PRX.ABM recently signe...Read More
A mining industry group said yesterday the commission appointed to draft regulations to effect the 2018 code had officially completed its work.The group represents significant mining development projects and more than 85% of the DRC's copper, cobalt and gold production, including Randgold Resources, Glencore, Ivanhoe Mines, Gold Mountain International/ Zijin Mining Group, MMG Limited, AngloGold As...Read More
Well Force International provides a complete range of rig-site solutions, including down-hole tool rental, on-site surveying and geophysical logging services, together with HiTT, its unique borehole management software that provides a 3D view of the borehole's progress.Read More
Well Force International (Well Force) have developed HiTT, a unique software solution for managing bore holes, providing more efficient drilling programs at a lower cost and most importantly, helping to improve the conditions for target zone intersection.Both Drillers and Geologists benefit by using the software. Drillers can monitor drilling progress and correct deviations quickly and cost-...Read More
On Monday copper for delivery in July fell back in the red on the Comex market in New York at $3.088 per pound or $6,800 a tonne as traders ponder rising trade tensions between the US and China, the globe's number one metals consumer.The industry is gathering in Hong Kong for LME Asia Week, but spirits may be dampened somewhat by a new report giving a muted assessment of the effects of Beijing's...Read More
Source: Streetwise Reports 05/08/2018Conditions may be in place for increased demand and increased prices for a number of commodities. In this interview with Streetwise Reports, Frank Holmes, CEO of U.S. Global Investors, discusses the commodity supercycle and the factors behind it, why some commodities may get more of a boost than others, and ways investors can profit.The Gold Report: Frank,...Read More
Strongbow Exploration (TSX-V: SBW), a Canadian firm trying to reopen one of England's most iconic tin mines, announced Monday it planned to list in London's AIM exchange for growing companies next month.The Vancouver-based junior expects the London listing to help it raise 25 million pounds ($34 million) over the next 18 months, which it will use to study the feasibility of resuming production at...Read More
Investing.com - With gold prices continuing to mirror moves in the dollar metals traders will be turning their attention to Tuesday’s U.S. retail sales report to try to form a clearer picture of the health of the economy and the outlook for interest rates.Alongside the retail data, markets will also be watching reports on the housing sector, manufacturing and industrial production. U.S. - Ch...Read More
Bosma has more than 24 years' experience in the mining industry, including 14 years at De Beers. He has worked at Firestone since 2014 , moving up from mineral resources manager to general manager of the Liqhobong mine in 2016.Prior to joining Firestone, he was general manager of a joint venture between De Beers and AngloGold Ashanti and previously worked as vice president of Pala Investments.Fire...Read More
SHANGHAI, May 14 (SMM) – Most nonferrous metals rose and closed higher on Monday May 14. SHFE nickel surged 2.4%, lead gained 1.3% and tin and copper inched up. SHFE aluminium and zinc edged down.The ferrous complex rose across the board with coke leading the gains with an increase of 2.3%. Iron ore jumped 2.2%, coking coal rose 0.7% with rebar and hot-rolled coil inched up.Copper: As longs...Read More