The latest report by the International Copper Study Group which includes full year 2016 estimates shows world mine copper production jumped by 5.3%, or 1 million tonnes last year to 20.16 million tonnes.According to the report the increase was mainly due to a 38% (650,000 tonnes copper) rise in Peruvian concentrate output that benefitted from new and expanded capacity brought on stream in the last...Read More
Mining and metals investors were offloading the sector's big names on Wednesday after sharp drops in iron ore and copper prices over worries about the robustness of the Chinese economy and heightened tensions surrounding North Korea with President Trump sending an "armada" of US warships to the region.While gold was setting fresh 2017 highs on the back of safe haven buying, on the Comex marke...Read More
Shares in Canadian miner Northern Dynasty Minerals (TSX:NDM) were soaring Wednesday morning following Alaska's Department of Natural Resources (DNR) approval of a long-awaited land-use permit that clears the way for the company's vast, but stalled Pebble copper-gold-silver project.The permit, issued late Tuesday, allows Northern Dynasty's subsidiary - Pebble Limited Partnership - to conduct recl...Read More
BHP Billiton (ASX: BHP) (LON:BLT) has come up with a detailed response to activist investor Elliott Management, which issued a 10-page letter on Monday calling for major changes at the world's largest mining company.In its extensive presentation, the Melbourne-based miner said the minor shareholder's proposal to overhaul BHP's structure and spin off its US petroleum division was flawed and would...Read More
Palisade Research April 12, 2017 Category: Research Northern Sphere Mining Corp (CNSX:NSM)Current Price: C$0.405Shares Outstanding: 25.9 millionMarket Capitalization: C$10.5 million52-Week Range: C$0.17-C$0.85Cash: ~C$2.3 millionTotal Liabilities: ~C$2.4 millionIf you ask any successful mining investor what he looks for in a company, 99% of the time he will begin with management. Identifying seri...Read More
Australian explorer, Emu NL (ASX: EMU), provides the following update on its drilling program on the Company's Vidalita project in northern Chile. The objective of the program is, in addition to testing some of the targets generated from the December 2016 and January 2017 surface geochemical programs, to test below these surface indications of mineralisation for the inferred core of the mineralise...Read More
Sydney, April 10, 2017 - (NYSE:GE) South32 and GE today announced the signing of a three-year strategic partnership to assist in the development of South32's technology roadmap and activation of the Company's digital transformation.The partnership, GE's first with an Australian mining company in the digital space, is a step towards playing a much bigger role in the global mining sector. For South3...Read More
Lead's rally from multi-year lows hit November 2015 were on the back of major zinc-lead mine shutdowns and strong demand from the automotive sector, responsible for the bulk of demand.A new report from BMI Research says positives for the market will largely stay in place leading to a widening albeit relatively small market deficit through 2021.BMI, a unit of rating agency Fitch, forecasts the lead...Read More
Water supply concerns and pollution in Latin America will drive increasingly strict environmental regulations in the region over the coming years, which in turn will also make miners' life more difficult, a report by BMI Research shows.According to the analysts, in addition to raising costs for mining companies and delaying certain projects, the focus on the amount of water used by the extraction...Read More
BHP Billiton (ASX: BHP) (LON:BLT) is working with Goldman Sachs Group Inc. on a detailed response to activist investor Elliott Management, which yesterday issued a 10-page letter calling for major changes at the world's largest mining company.The bank's involvement in the issue is nothing new, people with knowledge of the matter told Bloomberg. In fact, they said Goldman has been assisting BHP fr...Read More
Investing.com - Gold prices rose in European trade on Tuesday as rising political tension over North Korea and Syria supported demand for the safe-haven metal.On the Comex division of the New York Mercantile Exchange, gold for June delivery gained 0.39% to $1.258.85 a troy ounce.U.S. Secretary of State Rex Tillerson is currently at the G7 Foreign Affair Ministers meeting in Italy where political l...Read More
BHP Billiton (ASX: BHP) (LON:BLT), the world's largest mining company, has rejected a push by activist investor Elliott Management to unlock shareholder value by spinning off about $22 billion of its US oil assets and list them in New York.The hedge fund manager's demerger proposal, BHP said in a statement, included the suggestion of unifying the miner's dual structure into a single Australia-hea...Read More
Investing.com - Gold prices retreated from five-month highs on Friday as the stronger dollar weighed on the precious metal.Gold for June delivery settled up 0.21% at $1,255.95 on the Comex division of the New York Mercantile Exchange, having touched highs of $1,272.85 earlier.Prices surged early Friday after the U.S. launched cruise missile strikes on a Syrian air base in the aftermath of suspecte...Read More
Preliminary production by the top 10 copper mining companies compiled by IntelligenceMine totalled 9,448 kilotonnes of copper in 2016. That represents a 4% increase compared to 2015 and makes up ~49% of global copper production that reached 19,400 kt last year.Six out of 10 companies increased their copper output while four of them declined. All companies in the Top 10 that disclose production cos...Read More
Investing.com - Gold prices climbed to five-month highs on Friday, as news of U.S. airstrikes against Syria boosted demand for safe-haven assets.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.89% at a five-month high of $1,264.55.The June contract ended Thursday's session 0.38% higher at $1,253.30 an ounce.Futures were likely to find support at...Read More
As the debate rages on and on and on concerning the global economic expansion (U.S.)/recovery (Eurozone)/Ponzi (China/U.K.), I am beginning to feel like a tennis ball in the heated heart of the 1981 McEnroe/Borg Wimbledon final being batted back and forth over the proverbial "Net" of Indecision, Confusion and Fear.The greatest phrase ever concocted that is applicable to the world of trading and in...Read More
Rio Tinto (ASX, LON:RIO), the world's second-biggest miner by market value, will fight a A$447 million tax bill it received from the Australian government Wednesday, adding that the new assessment is not related to any tax avoidance scheme.The amount is linked to what is known as "transfer pricing" between Rio Tinto's Australian operations and its Singapore office.The amount, consisting of A$379 m...Read More
Corporate financing deals in mining, real estate and other major industries in B.C. were down last year compared with 2015.In 2016, the largest corporate financing deals involving debt, bond and stock raised $2 billion less than in 2015. Total financing from the largest deals fell 14%.Mining was less predominant in 2016 on Business in Vancouver's Top 100 Corporate Finance Deals list. Money raised...Read More
Canada's Erdene Resource Development (TSX:ERD), the company that literally struck gold earlier this year after finding its new Mongolia-based gold project was richer than previously thought, expects to move Bayan Khundii towards its maiden resource estimate by 2018.The firm, one of the very few miners to never have encountered issues in the landlocked Asian country, was granted this week the Ex...Read More
Canada's Barrick Gold's (TSX, NYSE:ABX), the world's No.1 producer of the precious metal by value, has confirmed it's selling a 50% stake in its Veladero mine in Argentina to Shandong Gold Group in a transaction worth $960 million.As part of the deal, which makes the two firm strategic partners, the Shandong province-based gold miner will help Barrick move forward with the long delayed Pascua-La...Read More