The PFS points to an initial capex of US$22.7 million, thanks to the amount of infrastructure at the past-producing mine, an internal rate of return of 40% and payback within 2.3 years of the flagged 2019 start.Read More
The company said all-round improvements got it to 40,452 ounces of gold at the Yaramoko underground mine in the March quarter, 13.6% higher than the first quarter of 2017 and a similar jump on the December quarter.Read More
SHANGHAI, Apr 11 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDespite potential lower tariffs indicated by Chinese President Xi Jinping, the US dollar edged down 0.23 to 89.6 overnight while the euro gained. Base metals rose across the board except for tin. LME aluminium climbed 3.7% to a record high in two months, driven by US s...Read More
The Robert Friedland-led company rose 8.81% yesterday to C$2.84 as it announced former South African president Kgalema Motlanthe had joined its board of directors."Mr Motlanthe is widely recognised as one of the African continent's wise men," Friedland said.He said Mr Motlanthe's commitment to securing tangible benefits for communities complemented Ivanhoe's dedication to delivering shared benefit...Read More
SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market was offered between a discount of 10 yuan/mt and a premium of 40 yuan/mt on the morning of Wednesday April 11, SMM learned. This compared with premiums of 50-90 yuan/mt on the morning of April 10. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our rese...Read More
"Search volumes on Google for keywords related to precious metals are down on average about two-thirds over the last 14 years," the CEO of bullion trader Sharps Pixley said this week."In short, gold is struggling to find friends."He said the gold market was small but mighty yet was "off the radar" for many journalists, and echoed Oscar Wilde's words that the only thing worse than being talked abou...Read More
SHANGHAI, Apr 11 (SMM) –Copper: As crude oil soared overnight, LME copper climbed above the 40- and 60-day moving averages as investors added their longs. It stood above the 60-day moving average at opening today and is likely to trade at $6,930-6,990/mt. The SHFE 1805 contract mostly traded between the 20- and 40-day moving averages with strong momentum overnight. We expect i...Read More
It said in an update for the March quarter that its 84%-owned Bushveld Energy had completed the manufacturing of the direct current portion of the battery, with factory acceptance expected in April.Read More
But Whittle has been arguing for the value of computerised mine planning and optimisation ever since and sees industry and broader accolades, such as his recent Australia Day Honours award, not to mention countless international software sales, as evidence that he's been right all along.Read More
The independent index, which covers 30 companies that produce 25% of all mined commodities globally, was launched by the Responsible Mining Foundation and aims to encourage continuous improvement in responsible mining an support leading practice and learning.Read More
The court found in March that the mine's waste emissions had affected neighbouring communities, with some members diagnosed with heart and lung problems including cancer, and some had high levels of nickel in their blood and urine, Reuters reported.The court ordered South32 pay damages and reapply for its mine licence.The company said today it had been notified of the decision on Monday and was in...Read More
In a nutshell, that's the critical question behind the proposed A$280 million (US$217 million) merger of two Australian companies which have ore in the ground that needs a cheaper transport solution.Read More
It produced 9,441 tonnes of copper during the quarter from 2.6 million tonnes of ore mined at an average grade of 0.48% and record recovery of 88.47%.Read More
BENGALURU, April 10 (Reuters) - Vedanta Resources Plc said on Tuesday its application for renewal of consent to operate its copper smelting plant, one of India's biggest, in the South Indian town of Thootukudi was rejected by the state pollution regulator.The rejection comes amid almost daily protests against a proposed expansion of the smelter by the people of Thootukudi, who have thronged the st...Read More
Copper demand will surpass supply earlier than expected, with the first clear signs coming as early as next year, experts attending the 17th World's Copper Conference being held this week in Santiago, Chile, said.According to Arnaud Soirat, chef executive for copper and diamonds at Rio Tinto, increased consumption from new technologies, including electric vehicles, will drive demand for the meta...Read More
SANTIAGO, April 10 (Reuters) - Chilean miner Mantos Copper will go ahead with expansions at two existing copper mines beginning later this year in an effort to grow ahead of rising costs, Chief Executive John Mackenzie told Reuters on Tuesday.Mantos Copper, which in 2015 bought the Mantos Blancos and Mantoverde copper mines from global miner Anglo American , obtained environmental permits for the...Read More
SANTIAGO, April 10 (Reuters) - Chilean miner Collahuasi said on Tuesday it expected to slash production costs to under $1 per pound of copper this year as it makes use of new technology and optimizes its operations.Collahuasi, owned by Anglo American Plc and Glencore Plc, is located in northern Chile and is among the world's largest copper mines."We've decreased our costs to $1.14 (per pound), and...Read More
Despite being praised as being among the world's best mining codes due to the absence of regulatory discretion and licences effectively being granted by administrative judges, Chile's current rules for the sector represents a huge barrier to explorers, the country's Minister of Mines said Tuesday.Speaking on the sidelines of the 17th World's Copper Conference being held this week in Santiago, Chi...Read More
* Stocks edge up but geopolitical risks in play* Rouble and Russian stocks sink on sanctions* US dollar weakens, oil rises* GRAPHIC-World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Updates prices, changes comment)By Rodrigo CamposNEW YORK, April 9 (Reuters) - Stocks across the globe rose on Monday, helping lift oil prices, but shares on Wall Street ended far from their highs after the FBI raided t...Read More