Mr Benedikt Sobotka, CEO of Eurasian Resources Group (ERG), one of the world's leading diversified natural resources groups, looks at the industry's performance in 2018 so far and sets out what we can expect for the rest of the yearThe past couple of months have featured a broad retracement of the metals complex, away from the recent highs. Markets were taken aback by rising uncertainties, includi...Read More
Increasing disposable income in emerging economies, as well as the adoption of greener technologies, rather than a touted electric cars boom, will drive most of the expected increased demand in copper during the next five years, CRU analyst Robert Edwards said."Electric vehicles (EVs) are a great long-term story, but demand is only expected to be around 1.5% of world refined copper consumption thi...Read More
Among the highlights, it intersected 126.5m at 1.18g/t gold, plus 132.6m at 0.63g/t gold including 16.8m at 1.58g/t."These results … outperform what was predicted in the resource block model by extending gold mineralisation below the current resource model and to the west of the Ridgeline fault," the company said.It has an US$25.8 million exploration and development programme underway...Read More
(Bloomberg) -- Aluminum approached a six-year high after top exchanges said they’ll stop accepting metal from United Co. Rusal, increasing concerns about how the market will replace supplies from the Russian smelting giant hobbled by U.S. sanctions.The metal advanced as much as 3.5 percent on Wednesday to $2,277.50 a metric ton on the London Metal Exchange. That was just $13 away from the pe...Read More
Investing.com - Gold was higher on Wednesday, as the possibility of a U.S. military strike in Syria drove investors to the risk adverse precious metal.U.S. President Donald Trump canceled a trip to Latin America on Tuesday to focus on a response to a suspected chemical weapons attack in Syria, the White House said. Trump said he will respond to the attacks this week, once it was established who wa...Read More
(Bloomberg) -- Aluminum headed for the highest close since January, extending its hottest three-day streak since 2009, after top exchanges said they’ll stop accepting metal from United Co. Rusal (HK:0486), deepening supply fears after the U.S. slapped sanctions on the Russian group.The metal advanced 1.4 percent to $2,231 a metric ton on the London Metal Exchange by 2:56 p.m. in Shanghai. Th...Read More
(Adds comments from Vedanta, background, shares)April 11 (Reuters) - Vedanta Resources Plc VED.L said on Wednesday its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.Billionaire Anil Agarwal-controlled Vedanta said on Tuesday its application for ren...Read More
Investing.com - Gold prices pushed higher on Wednesday as a combination of concerns over ongoing trade tensions between the U.S. and China and the prospect of a U.S. military strike in Syria bolstered safe haven demand for the precious metal.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $1.7 or 0.13% to $1,347.60 a troy ounce by 04:21 AM ET (08:21...Read More
Speaking at the World Copper Conference in Santiago, Chile, the executive said the company planned to begin construction of a new concentrator plant at the Mantoverde mine early next year once it had raised finance.Read More
April 11 (Reuters) - Vedanta Resources Plc VED.L said on Wednesday its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.Vedanta said on Tuesday its application for renewal of consent to operate its copper smelting plant, one of India's biggest, in the...Read More
Jadish Laddhra, CEO of Birla Copper, said accessing clean concentrates was one of the main challenges facing India's copper smelting industry.Read More
Previous CFO Nigel Robinson was promoted to CEO, while business development director Gavin Ferrar was moved into the CFO position, with both changes effective April 16.Robinson joined CAML in November 2007 as group financial controller and has been CFO since April 2009. He previously worked for six years as management for British Airways and prior to this he worked at KPMG.He was also formerly a r...Read More
SHANGHAI, Apr 12 (SMM) – Nonferrous metals futures were weaker for the most part except for SHFE nickel. Zinc plunged nearly 3.6%, copper lost over 1%, tin fell almost 1%, while aluminium and lead slipped.The ferrous complex also closed lower, except for hot-rolled coil. Coking coal slid nearly 4%, coke dropped 3%, iron ore fell nearly 1%, and rebar edged down.Copper: SHFE copper was dragged...Read More
Resources now total 209,265t of contained lithium oxide - 20.46 million tonnes grading 1.02% lithium oxide - with 86% of the new estimate in the measured and indicated categories.Read More
SHANGHAI, Apr 12 (SMM) – China’s sales of new-energy vehicles (NEV) in the first quarter pf 2018 more than doubled year on year as demand grew, according to China Association of Automobile Manufacturers (CAAM).From January to March, sales of NEVs stood at 143,000 units. This is up 154% from the first quarter of 2017. Output for January-March 2018 stood at 150,000 units,...Read More
The pit-constrained resource comprises an indicated 3.65 million tonnes at 5.18% zinc equivalent and an inferred 32.98Mt at 5.03% ZnEq.Read More
SHANGHAI, Apr 12 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightWeighed down by potential US military action in Syria, the US dollar index edged down slightly and hovered around 89.5, but received some support from the Fed’s March meeting.The Syria factor also depressed base metals except for LME aluminium. LME aluminium...Read More
The company produced 285,851 carats in the March quarter, dropping 26% year-on-year, from 562,520 tonnes of ore processed, up 34%, at an average grade of 51ct per hundred tonnes, which compared to a grade of 92cpht a year ago.Read More
SHANGHAI, Apr 12 (SMM) –Copper: LME copper registered a loss overnight, along with its Shanghai counterpart. We see it trading at $6,910-6,960/mt today. With strong support from the five- and 20-day moving averages, the SHFE 1806 contract is likely to trade at 50,800-51,500 yuan/mt with spot prices ranging from a discount of 40 yuan/mt to a premium of 20 yuan/mt today.Aluniniu...Read More