The company got a 2.63% kick to its share price, closing at 20c Tuesday to take its market value to circa C$12.7 million, after the PEA showed a high-grade opencut mine and conventional silver processing circuit at Diablillos could yield a 30.2% IRR and US$212 million after-tax NPV (using a 7.5% discount rate) producing an average 9.8 million silver-equivalent ounces (70% silver, 30% gold) a year...Read More
The miner dropped its total full-year attributable equivalent gold production to 2-2.05 million ounces from the previously planned 2.08-2.10Moz, due to full-year output expectations from South Deep falling to 244,000oz from the initial 321,000oz.Read More
Total production for the quarter dropped 7% on the year to 9,188 ounces, generated from the processing of 43,145 tonnes of ore, up 3%, at an overall average grade of 7.04g/t, down from 7.62g/t in the same period a year ago.Read More
SHANGHAI, Apr 25 (SMM) – Nonferrous metals fell across the board on Wednesday April 25 except for SHFE copper. SHFE zinc dropped over 1%, lead lost 0.76%, tin and aluminum edged down and nickel dipped.The ferrous complex also fell, except for rebar. Iron ore dropped 1.58%, coking coal slid 1.44% and hot-rolled coil and coke dipped.Copper: As the US dollar gained, the SHFE 1806 contract hover...Read More
SHANGHAI, Apr 25 (SMM) – Jiangsu province will undertake a month-long, joint environmental inspection across eight cities along the Yangtze River from Tuesday April 24, the Jiangsu Provincial Environmental Protection Office said on Monday April 23.To protect and preserve the ecology along the river, inspections will be conducted in Nanjin, Wuxi, Changzhou, Suzhou, Nantong, Yangzhou...Read More
Silver output for the three-month period was 15.4 million ounces, up 14% on the year due to the contribution from San Julián, which has completed its ramp up to full capacity.Read More
SHANGHAI, Apr 25 (SMM) – Spot copper in the Shanghai market was offered at a premium of 260-310 yuan/mt over the SHFE 1805 contract on Wednesday April 25. This compared with a premium of 250-320 yuan/mt in the previous day. Trading stayed lacklustre from the start of this week as buyers hesitated on the fluctuation of copper prices in recent weeks, SMM learned.Due to weak buying interes...Read More
Copper output fell 10.5% year-on-year to 153,800 tonnes, although Antofagasta CEO Iván Arriagada said copper production was expected to increase as grades improved during the year and into 2019.Read More
SHANGHAI, Apr 25 (SMM) – Spot copper in the Shanghai market was offered at a premium of 270-300 yuan/mt on the morning of Wednesday April 25, SMM learned. This is slightly up from a premium of 260-300 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 research reports, please email service.en@...Read More
SHANGHAI, Apr 25 (SMM) –Copper: LME copper stood above all the moving averages overnight with the five-day moving average expanding downwards. SHFE copper touched the 60-day moving average with support from the five-day moving average. We expect LME copper to trade at $6,950-7,000/mt today with SHFE copper at 51,500-52,000 yuan/mt. In the physical market, sellers may lower their offers...Read More
The Israeli company secured US$42.5 million of private equity in its last funding round and has started expanding geographically and into new industries. It claims to be the first company to be granted an aviation authority to fly drones without a human pilot."Richard is one of the world's experts in scaling-up global business and his expertise will be vital as we enter our next phase of expansion...Read More
SHANGHAI, Apr 25 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs the US stock market tumbled, the US dollar index lost 0.2% overnight, after it gained 1.7% over the past five trading days, and closed at 90.79.Most base metals fell. LME aluminium led with a loss of close to 2% among its LME peers and touched a low since April 11 a...Read More
The necessary included making sure that capital found a predictable and secure jurisdiction and the bureaucracy found ways to say yes, and it's a legacy the longest-serving incumbent US governor hopes will continue after he leaves office later this year after 12 years in the job.Read More
The mining industry is reversing a long period of declining productivity where the focus is on getting more out of existing assets, with fewer inputs. With fresh memories of low commodity prices and escalating unit production costs, miners are targeting higher margins and greater profitability across the whole business cycle. The objective is to create long-term cost advantage over the marginal pr...Read More
The 1mm white diamond was recovered from an unscreened soil sample and is believed to be a fragment of an original diamond.The company said the presence of a chrome spinel inclusion on the broken surface of the diamond was interpreted to be an indication that the diamond was close to the source and the transport distance was minimal.It also recovered ilmenites from the soil samples, with surfaces...Read More
Dushnisky said Shandong Gold, which came into the Veladero project as a partner for US$960 million last year, had added to Barrick's expertise as well as its balance sheet.Read More
On the 20th anniversary of the breach of the tailings pond at the Los Frailes mine in Spain, environmental organizations held a press conference to alert the public about the possibility of a similar accident taking place.Greenpeace, WWF, SEO/BirdLife, Ecologists in Action, and Friends of the Earth accused the Andaluc?-a council of relaxing administrative and legal requirements to ease the way for...Read More
April 24 (Reuters) - Canada's Teck Resources Ltd , the world's second-biggest exporter of steelmaking coal, reported on Tuesday a 15 percent increase in first-quarter adjusted profit on increased sales volumes.Teck, which also mines copper, zinc and gold, said adjusted profit attributable to shareholders rose to C$753 million ($586.4 million) or C$1.31 per share in the quarter ended March 31, comp...Read More
SANTIAGO, April 23 (Reuters) - Chilean industrial conglomerate Empresas Copec SA said on Monday it had reached an agreement with Peru's Minsur S.A. to buy a 40 percent stake in a holding company that owns a Peruvian copper mine project for $168.5 million.Minsur will retain 60 percent ownership in Cumbres Andinas S.A., the company that controls the Mina Justa project, Santiago-based Copec said in a...Read More