World's largest mining company BHP Billiton (ASX, NYSE: BHP) (LON:BLT) sees electric cars as a major ally in boosting demand for copper, by far the poorest performer this year on the London Metal Exchange.The conventional internal combustion engine used in motor vehicles typically contains about 20 kilograms of copper, about half the total used in a hybrid vehicle, Vicky Binns, vice president,...Read More
In early trade on Tuesday copper for delivery in December touched one-month highs with copper futures exchanging hands for $2.2170 per pound ($4,887 a tonne).It was the seventh session in a row of gains for the red metal and the latest leg up was sparked by better than expected economic news out of China, responsible for nearly half the world's copper demand.Source: Singapore ExchangeChinese manu...Read More
Shares in Canadian zinc producer Trevali Mining (TSX:TV) jumped more than 4% Monday after the company announced the discovery of a new high-grade zinc-lead-silver mineralization at its Santander mine, located in Peru.The stock was trading at Cdn$1.03 at 11:48 am ET, ore 4.04% more than its closing price on Friday and year to date it has more than double in value.The new high-grade zinc-lead-silve...Read More
Management consultants E&Y's latest report on mergers and acquisition and financing in the mining industry shows the environment for raising capital has been in steady decline since 2013 and the trend is likely to continue.Total capital raised during the quarter was $49.9 billion, down 17% from $60 billion in Q2. Capital raised was also down 3% to $172.2 billion in the first nine months of the yea...Read More
Looking south east over the Black Star Open Cut pit towards Glencore Mount Isa Mines surface infrastructure and the city of Mount IsaApart from steelmaking raw materials iron ore and coking coal, zinc is the best performing mined commodity in 2016. Trading at $2,374 a tonne, the metal is up 47% year to date.Zinc's prospects brightened considerably after the shutdown of two major mines last year -...Read More
Anglo American is sounding out investors about a multi-billion pound spin-off of its South African operations in an attempt to pacifiy growing pressure from its biggest shareholder to consider a radical break-up.The FTSE-100 giant, which wants to focus on diamonds, platinum and copper, is looking at packaging up its "non-core" thermal coal and iron ore assets in South Africa as it moves into the...Read More
Activists in the Democratic Republic of Congo are pressing the government to revive plans for a new mining code, claiming the country, which is Africa's top copper producer and the world's largest source of cobalt, needs the higher revenues a revised legislation would generate.Congo began reviewing the 2002 mining code in 2012 and last year it proposed hiking profit taxes to 35% from 30%, raising...Read More
"We believe Seabridge provides investors with ownership in one of the most strategically compelling and prolific copper?EUR?gold projects in the world, the KSM project in BC, at one of the lowest market caps per ounce to the investor," analyst Don MacLean wrote in an Oct. 26 research report on Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT).Seabridge announced the new PEA for KSM in an Oct. 6 press rel...Read More
Global energy markets will need around $50 trillion in new investment to fund expected growth in energy demand over the next two decades, according to one of Australia's pre-eminent business and industry experts.Such investment would be needed to fund an energy market expected to grow by 40% through until 2035 - with that higher consumption continuing to rely in part on baseload fossil fuels.The f...Read More
The board of directors at Brazilian mining giant Vale (NYSE:VALE), the world's largest iron ore producer, has approved the sale of the firm's fertilizer business, amid a global oversupply of potash that has caused prices to tumble in the past year, leading to layoffs and mine closures across the sector.With the deal, Vale is expected to fetch about $ 3.5 billion.According to local newspaper Valo...Read More
Canada's largest diversified miner, Teck Resources (TSX:TCK.B) (NYSE:TCK) logged Thursday better-then-expected quarterly revenue thanks mainly to a sustained rally in coking coal as well as the firm's cost-cutting measures implemented in the three months to Sept. 30The Vancouver-based company, the best-performing Canadian stock in seven years, swung to a profit of Cdn$234 million ($174.9 million...Read More
Energy Fuels Resources resumed shaft sinking operations at Canyon Mine in November last year. (Image courtesy of US Forest Service)Canada's Energy Fuels (NYSE MKT: UUUU; TSX: EFR), the largest conventional uranium producer in the US, has discovered high-grade copper at its Canyon project in northern Arizona, which is already the highest grade uranium mine being developed in the country.With this...Read More
The price of cobalt is set to double.The electric vehicle revolution will continue to reinforce the unquenchable demand for cobalt.Cobalt is primarily a by-product of nickel and copper mining and subject to extreme jurisdictional risk.Combine the growing supply-demand deficit with an unstable supply chain, you have the perfect recipe for the most extreme bull market within the mining sector in the...Read More
Mick Davis' X2 Resources, the mining fund once touted as the driver of much-needed investment into the mining industry during the worst of the commodities price rout, has freed investors from their financial commitments after failing to score any deals in three years.Relatively high assets valuations and an investor veto on deals frustrated Davis and his team in their search for mining bargains....Read More
Canada's Seabridge Gold (TSX:SEA) (NYSE:SA), the company behind the massive KSM project in northern British Columbia, considered the world's largest undeveloped gold-copper project by reserves, has just identified a large, untested target at another of its ventures in the region.Exploration at Seabridge Gold's 100%-owned Iskut project, which shares geological similarities with KSM, has revealed a...Read More
China's Zijin Mining Group and Shandong Gold Mining are said to be among the firms that have recently approached Canada's Barrick Gold Corp (TSX, NYSE:ABX) with the intention of buying a 50% stake in one of its Argentine mines.The potential sale of a 50% stake in Veladero mine could fetch Barrick more than $1 billion.According to sources familiar with the matter quoted by Reuters, both Asian mine...Read More
Shares in London-listed Botswana Diamonds (LON:BOD) climbed nearly 3% Tuesday after the company announced the discovery of a 1mm octahedron-shaped diamond while prospecting at Orapa.The company, which began exploring the area in March this year, said that specialists from its joint venture partner Alrosa are in the midst of reanalyzing 80 tonnes of samples that were sent to a processing facility...Read More
Shares in Anglo American (LON:AAL), the world's number five diversified miner, were up more than 5% Tuesday afternoon as investors cheered the company's third quarter results, which saw the firm increasing output across all divisions, except for copper.Anglo, which is in the process of selling off mines and slimming down its portfolio, said production of diamonds, its largest underlying earnings d...Read More
Zinc junior Callinex Mines (CVE:CNX) is up 10% to 54 cents after Resources Funds Capital acquired 18% of the company for $5 million."Callinex has signed a term sheet with Sprott for a $5m private placement. A fund managed by Rick Rule will be a lead order in the financing," said Callinex Mine's CEO Max Porterfield in a news release.The funds will be used for exploration at the newest discovery at...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, were slightly down in pre-market trading Tuesday after the firm's reported revenue that fell short of estimates and lowered its full-year guidance.The Peoria, Illinois-based reported earnings, adjusted for non-recurring costs, of 85 cents per share on revenue of $9.16 bil...Read More