SHANGHAI, May 3 (SMM) – Just one company received approval to import copper scrap in the 11th batch of approvals for restricted solid scrap material imports released on Thursday May 3, SMM learned.The company, located in Qingyuan city in Guangdong province, was approved to import 6,862 mt of copper scrap this year. Overall approved copper scrap imports in the 11 batches this y...Read More
The underground estimate puts Cariboo's resource at a measured and indicated 8.1 million tonnes at 6.1g/t for 1.6 million ounces and an inferred 12.7Mt at 5.2g/t for 2.16Moz, using a 3g/t cut-off.Read More
SHANGHAI, May 3 (SMM) – Nonferrous metals futures mostly inched up except for zinc on Thursday May 3. SHFE aluminium rose nearly 1%, while copper, lead, nickel, and tin went up slightly.The ferrous complex also rose for the most part. Coke gained over 1.5%, coking coal and iron ore grew more than 1%. Hot-rolled coil fell nearly 1%, and rebar edged down.Aluminium: As LME aluminium g...Read More
Among the latest drilling highlights at Bug, it hit 0.73m at 87g/t gold down plunge at the South Zone."The re-emergence of high-grade vein style mineralisation in the hanging wall region of the South Zone as we proceed to depth is encouraging, as is the continuity of the South and Horsefly Zones outside the recently-defined resource shells," president and CEO Darin Wagner said.However while Balmor...Read More
Centamin sold 131,045 ounces of gold in the quarter, down 15% on the December period but up by the same amount compared to 2017.Read More
SHANGHAI, May 3 (SMM) – Spot copper in the Shanghai market was offered at a discount of 50-10 yuan/mt against the SHFE 1805 contract on the morning of Thursday May 3, SMM learned.This is down from a discount of 20 yuan/mt to a premium of 20 yuan/mt in the previous morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our re...Read More
Glencore (LSE:GLEN) was close behind, up 3.16%, and Rio Tinto (LSE:RIO) gained 2.93% following the release of positive manufacturing data out of China.Still in the UK, the LSE yesterday said it had postponed the suspension of En+ Group's global depositary receipts after the US extended the deadline for compliance with sanctions.En+ chairman Lord Barker of Battle welcomed the extension and said he...Read More
SHANGHAI, May 3 (SMM) –Copper: As the US dollar index rebounded to a fresh high, LME copper traded rangebound overnight and SHFE copper’s trading range fell slightly. We expect LME copper to trade at $6,770-6,820/mt today with the SHFE 1806 contract at 50,800-51,200 yuan/mt. In the physical market, offers are stabilising as futures consolidate. Spot discounts are seen at 60-20 yuan/mt....Read More
The year-on-year drop was 7% and the last time demand was lower in the January-March period was 2008, according to the World Gold Council's Gold Demand Trends report for the March quarter.It attributed the low level to falling investment demand for gold bars and gold-backed exchange-traded funds (ETFs) and a subdued gold price.Total investment demand for the quarter was 27% lower on the year at 28...Read More
CEO Neal Froneman said, in the face of the stronger rand negatively impacting the South African mining industry, the benefits from the company's strategic commodity and geographical diversification during the past two years had been clearly evident.Read More
It is the largest gem-quality stone found at Lulo by the company and its partners, Empresa Nacional de Diamantes and Rosas & Petalas, beating out the 43ct yellow gem recovered in January and the 39ct pink stone found in September last year.The 46ct diamond was found in the new mining block four, the area close to the treatment plant and planned for resource delineation this year to be included...Read More
They are a mix of mainly contract miners and drillers, and engineers with primary exposure to brownfields capital expenditure (see table below).Read More
CALGARY, Alberta, May 03, 2018 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to announce that it intends to complete, subject to the approval of the TSX Venture Exchange, a non-brokered private placement to raise up to $1,200,000 in gross proceeds (the “Offering”). The Offering will consist of...Read More
It said Thursday that coal stockpiles across all its coal-fired power stations were at an average of 35 days, excluding Medupi and Kusile, which were still under construction.Stakeholders have been concerned about possible load shedding after the utility announced last week that seven of its power stations had coal stock levels of less than 20 days.The country faced rolling blackouts in 2008, but...Read More
The deal signed between state mining firm Geominera and Millbrook Minerals, a private Canadian company, covers the Los Pasos project in central Cuba's Villa Clara province.Read More
The miner announced the strike at its La Arena mine on April 22, saying the union that represented about two-thirds of the 700-member workforce wanted a guarantee payment rather than profit sharing as per Peruvian law.Read More
Its own-source copper production rose 7% year-on-year to 345,400 tonnes after the first phase of Katanga's whole ore leach project was commissioned in December, although this was partly offset by maintenance at the Mount Isa smelter and Alumbrera's decline as the end its mine life gets closer.Read More
Its shares fell from the US$19 mark last week to hover around $15, closing up slightly yesterday after CIBC upgraded its shares from neutral to outperform.Bloomberg reported CIBC said the market was not ascribing any value for Freeport's majority-owned Grasberg mine in Indonesia, where negotiations continue over a new license and operating terms and the company's 51% divestment.Freeport revealed i...Read More
Drilling at the un-mined Southwark deposit has been completed, for a total of 3,200m. Approximately 1,300 assayed metres are included in this announcement. The concluding stage of the RC drilling program is currently underway at the Emu deposit, ahead of resource modelling. This phase of RC drilling at Bottle Creek will be completed on the 7th May, 2018; well ahead of schedule and within budget. A...Read More