(Bloomberg) - Copper prices will rise this year as investors look past the ample global supplies and market turbulence to focus on the metal's long-term outlook, according to Trafigura Group's chief economist.Copper has been buffeted in recent weeks by rising inventories, risks to global trade and signs that miners are managing to strike new wage deals without major interruptions to supply, said...Read More
SummaryGovernments of mining countries are vulnerable to investors using double tax agreements (DTAs) as a means of avoiding paying taxes. DTAs are bilateral, or multilateral agreements between countries that set out which country has the right to collect tax on different types of income. Interest expense on foreign loans is one such source of income. The DTA will specify how much tax the source c...Read More
(Bloomberg) - Anglo American Plc is looking past global trade tensions and local political upheaval as it moves toward a multibillion-dollar decision on building the world's next major copper mine, in Peru.The London-based company is on track to present the Quellaveco project to its board around midyear and is the final stretch of bringing in a partner to shoulder some of the cost, Hennie Faul,...Read More
(Bloomberg) - Just as labor tensions ease at BHP Billiton Ltd.'s giant Escondida mine, the copper industry has another iconic mine to worry about.Relations between the world's largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years as the mine transitions from open pit to an underground model that will use more automation and employ fewer w...Read More
* Impact on aluminium prices seen limited* U.S. aluminium premiums expected to rise further* U.S. imported 695,778 tonnes of Russian aluminium last year* Some Japan customers to keep supply deals, change settlement currencyBy Melanie BurtonMELBOURNE, April 9 (Reuters) - Rio Tinto will be among the biggest winners from the U.S. sanctions imposed on Russian aluminium giant United Company Rusal as th...Read More
Investing.com - Gold prices may continue to be underpinned by safe haven demand and a softer dollar in the coming week after rising on Friday amid renewed fears over trade tensions between the U.S. and China and after a weaker than expected U.S. jobs report.Metals traders will be watching developments relating to trade policy as tensions between the world’s two largest economies continue to...Read More
Silver has been dead money over the past year or so, relentlessly grinding sideways to lower. That weak price action has naturally left this classic alternative investment deeply out of favor. Silver is extremely undervalued relative to gold, while speculators' silver-futures positions are extraordinarily bearish. All this has created the perfect breeding ground to birth a major new silver b...Read More
Readers know that I have beaten this drum all too often. Gold's major fundamental driver is declining or negative real rates. There is a strong inverse correlation because Gold is money. That's what JP Morgan said and he's far more qualified to understand than quotable celebrities like Mark Cuban. But I digress.When real rates are increasing or strongly positive (during most of the 1980s and 1990s...Read More
SHANGHAI, Apr 9 (SMM) – Nonferrous metals saw mixed trading on Monday April 9. SHFE aluminium rebounded and closed nearly 1.4% higher. Copper inched up, while zinc fell over 1% and nickel dipped almost 1%. Lead and tin were slightly down.In the ferrous market, hot-rolled coil gained nearly 2% and rebar grew over 1%. Coke, coking coal, and iron ore edged down.Copper: The SHFE 1805 copper cont...Read More
The addition of 5.2 million tonnes grading 4.9% zinc and 1.3% copper from the southern extension of Prieska called Vardocube takes total resources to 29.4Mt averaging 3.8% zinc and 1.2% copper.Read More
Highlights from the latest infill and expansion drilling at the Lynx deposit include 2.7m at 403g/t gold (uncut) from 720m and 2.2m at 151g/t from 934.5m.The database was closed in March for the resource calculation but president and CEO John Burzynski said the ongoing results added to the upside potential as the company headed towards a feasibility study in early 2019."The Lynx corridor was disco...Read More
SHANGHAI, Apr 9 (SMM) – Traders were actively looking to sell copper in the Shanghai spot market on the morning of Monday April 9. While they offered the red metal at a premium of 60-120 yuan/mt, transactions were mostly concluded at a premium of 70-100 yuan/mt.Standard-quality copper was heard traded at 50,320-50,460 yuan/mt and high-quality copper was at 50,340-50,500 yuan/mt, SMM lea...Read More
Japan’s largest copper smelter Pan Pacific Copper plans to increase its output by 300,000 mt during April to September this year, the company said last Friday.This would be a 15% increase from the same period last year. 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@smm.cnRead More
It produced 124,296 ounces of gold during the January-March period, up 14% year-on-year, with the full-year guidance for 2018 kept at 580,000oz.Read More
SHANGHAI, Apr 9 (SMM) – This is a roundup of global macroeconomic news last week and what is expected today.Last weekThe US dollar closed at 90.12 on Friday April 6, up 0.25% over the week. LME metals fell across the board on Friday except for aluminium, which was up over 3% inventory dropped for the first time in over nine months. Copper edged down close to 1%. Zinc and tin fell over 1...Read More
It said the funds from a new cornerstone investor and existing shareholders would enable it to immediately launch an extensive follow-up exploration and drilling programme at the 80%-owned Brooking diamond project in Australia's West Kimberley region.Read More
SHANGHAI, Apr 9 (SMM) – Spot copper in the Shanghai market was offered at a premium of 70-110 yuan/mt on the morning of Monday April 9, SMM learned. This compared with premiums of 50-80 yuan/mt on the morning of Wednesday April 4. 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@smm...Read More
The Tanzania gold miner has just finished a 1,600m drilling programme at the planned main pit area at Singida, which will be used in an updated mineral resource for the project and to attract an equity partner.Read More
Just back from Peru and speaking ahead of the 17th World Copper Conference and CESCO Week, the global copper industry´s annual gathering in Santiago, the South African said that management planned to get approval from the directors for the US$5.5 billion investment at a meeting scheduled for the middle of this year.Read More