SHANGHAI, Mar 30 (SMM) – To improve air quality, the city of Handan plans will oversee staggered production during non-heating season from April 1-November 15, 2018. The city will intensify their efforts to regulate key companies, reduce pollutant emission from manufacturers, reinforce control on emission from heavy duty trucks and overhaul traffic control....Read More
SHANGHAI, Mar 30 (SMM) – Operating rates at wire and cable companies rebounded in March from February, driven by higher rates at large plants, SMM found. Orders grew and downstream consumers purchased actively, prompted by the recent low copper prices. Resumption of orders across large producers of wire and cable also improved from last year, as output surged. Meanwhile, State Grid Corp...Read More
SHANGHAI, Mar 30 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index stood above 90, buoyed by month-end capital flows.Most SHFE metals registered gains following China’s announcement of corporate tax cuts, with nickel and tin rising over 1%. SHFE copper inched up. LME nickel sharply jumped close to 3%, tin edged up...Read More
SHANGHAI, Mar 30 (SMM) –Copper: Copper prices rebounded as concerns of a trade war cooled. LME copper stood above the five-day moving average and tested the 10-day moving average, with its KDJ indicator extending upwards. SHFE copper performed similarly, and stablised at a low level with strong pressure. As the LME is closed today, we expect the SHFE 1805 contract to trad...Read More
There has been plenty said historically about human nature being resistant to change. That rhetoric has only increased in the mining sphere as executives, faced with an unprecedented volume of distinct challenges, attempt to reshape their businesses for the future. "Part of this is also the speed of change in our lives, that is, the speed of technology change," Proudfoot head of natural resou...Read More
The silver miners' stocks have really languished since mid-2016, relentlessly grinding sideways to lower. With gold out of favor, silver and its miners have largely been left for dead and forgotten. This sector is deeply mired in universal apathy and bearishness. But since silver stocks can skyrocket when silver decisively rallies again, it's important to keep an eye on silver miners' fundamen...Read More
Cobalt's rise to six-digit territory seems inexorable as the hype around electric vehicle demand for battery materials shows no signs of cooling.Despite a pullback this week, at $95,000 a tonne cobalt is up another 24% in 2018 as it builds on a more than fourfold increase in value from record lows early 2016. Batteries - mainly for cellphones - constitute 55% of cobalt demand at present, but is se...Read More
SANTIAGO, March 29 (Reuters) - Chile's state copper company Codelco said on Thursday it produced 1.734 million tonnes of copper in 2017, its second highest output ever, despite persistently low ore grades at its aging mines.The world's top copper miner posted a 2017 pre-tax profit of $2.885 billion, a six-fold increase over its earnings in 2016, even as production costs jumped 7.8 percent to $1.35...Read More
Miners operating in the Democratic Republic of Congo submitted Thursday a new proposal for the government related to the recently passed new mining code, which substantially increases the cost of doing business in the central African nation.The likes of Glencore, Randgold, Zijin, China Molybdenum and Ivanhoe, among others, are suggesting a sliding scale of royalty rates for key commodities instead...Read More
* FTSE up 0.6 pct at close, regains 7,000-point level* Shire soars on possible Takeda takeover bid* Defensives rise, miners and energy stocks fall (Recasts, adds detail and chart, updates prices at close)By Tom Pfeiffer and Kit ReesLONDON, March 28 (Reuters) - A move into defensive stocks helped Britain's FTSE climb to a one-week high on Wednesday, shaking off broader concerns over the U.S. tech...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE index down 1 pct* Fifth daily drop in six sessions* Mining, energy stocks fall* Shire soars on Takeda possible takeover bid* Unilever , Capita move higherBy Tom PfeifferLONDON, March 28 (Reuters) - Britain's FTSE index resumed its downward march on Wednesday as negative newsflow around the U.S. tech giants and linge...Read More
Investing.com - Gold prices slipped on Wednesday as the dollar pushed higher amid renewed concerns over the prospect of a trade war between the U.S. and China and after steep falls on Wall Street and in Asia led by a selloff in tech stocks.Gold futures for April delivery on the Comex division of the New York Mercantile Exchange slid $1.7 or 0.13% to $1,340.30 a troy ounce by 05:13 AM ET (09:13 GMT...Read More
New float hopeful Metals 479, which takes its name from a portmanteau of the atomic numbers of silver (47) and gold (79), was established last year with Spott, supported by Australian fund managers and high net worth individuals.Read More
(Bloomberg) -- Rio Tinto (LON:RIO) Group completed its exit from coal with a bang, agreeing to sell more than $4 billion of Australian mines in just a week.The world’s second-biggest miner on Tuesday agreed to sell its last coal mine, the Kestrel operation in Australia’s Queensland state, for $2.25 billion to private equity firm EMR Capital and Indonesia’s PT Adaro Energy. Th...Read More
SHANGHAI, Mar 29 (SMM) – Nonferrous metals futures rose across the board during the afternoon trading session on Thursday March 29 with SHFE nickel up close to 2% and copper up nearly 1%.Ferrous metals, meanwhile, all closed over 1% higher, except for coke, which was down just over 1%.Copper: The SHFE 1805 contract hit a high at 50,100 yuan/mt today as some investors added to their long bets...Read More
Management teams representing 30 projects picked from the Mining Journal Intelligence database - a list of quality undeveloped assets from more than 2,000 listed companies - will be presenting at the event in London on June 26-27, and they will be looking for investors to back them. While Rule knows exactly what he is looking for in a undeveloped project - several of his current investm...Read More
One division will focus on Carajas Copper and the other on CentroGold, with both having a dedicated general manager and being supported by the technical services group, which has been reinforced to accommodate growing exploration and development commitments.Under Carajas Copper, Otávio Monteiro has been promoted to general manager after being general manager of the Antas mine. Mike Sousa wa...Read More
The shareholders voted in favour of all resolutions relating to the deal at a general meeting on Wednesday.DRD will now issue about 265 million shares to Sibanye-Stillwater in return for the assets, giving the latter a 38% holding in DRD.Sibanye-Stillwater also has a 24-month option to subscribe for enough shares to hold a 50.1% stake in DRD in exchange for cash.The approval was the milestone DRD...Read More