In New York trade on Wednesday copper for delivery in May gained for the fourth day in a row after customs data from top consumer China showed a huge jump in imports of the red metal.May copper futures jumped to $2.18 per pound or around $4,805 a tonne, up 1.5% from Tuesday's close before paring some of those gains by lunchtime. The price of copper is up 12.6% from a seven-year low hit mid-Ja...Read More
Canada's largest mining companies have endorsed the federal government's effort to establish a national price on carbon pollution, publishing Wednesday a series of principles local miners believe should be part of a national policy on climate change.In its proposal, the Mining Association of Canada (MAC) recommends, among others, the adoption of a broad-based carbon price applicable to all sectors...Read More
With the amassed value of the company based on its existing stock price alongside the total amount of outstanding stocks, today's market cap for Southern Copper Corp. is valued at 20244.32. The value of the Market cap relatively ensures a stable and secure position for the company, and can be easily considered a blue chip in today's market. Southern Copper Corp.'s market capitalization will expect...Read More
Last week, copper prices witnessed the biggest weekly decline since January on oversupply concerns in China and sluggish demand growth. After a stressful stretch in 2015 due to softness in China's manufacturing sector, global growth worries, a stronger U.S. dollar and surplus supplies, the red metal had shown recovery in 2016 (read: ETFs to Gain from China's Added Stimulus). But the trend took...Read More
Adrian Day of Adrian Day Asset Management discusses Altius Minerals, one of his core holdings, including how it has continued to make progress through the resources bear market.Altius Minerals Corp. (ALS:TSX.V, 11.81) has continued to make progress through the bear market in resources. Most recently, it has entered into a metal purchase agreement with Yamana Gold to purchase some of the future cop...Read More
The International Monetary Fund in its World Economic Outlook published today cut its global economic growth forecast for the fourth time in the past year.The Fund expects the world economy would grow at 3.2% in 2016 compared to its previous forecast of 3.4% in January. Next year growth will pick up slightly to average 3.5% according to the institution.Source: World BankThe IMF upped its Chinese...Read More
Chemicals firm SQM, one of the world's top lithium producers with access to lucrative reserves in northern Chile, and Canadian junior miner Lithium Americas Corp (LAC) have set 2019 as the date to begin operations at their recently formed joint venture in Argentina.As announced last month, the companies are working on an updating the feasibility study for the Cauchari-Olaroz project, which is for...Read More
Geoscience BC is releasing the results of an innovative tree-top sampling program led by Noble Exploration Services Ltd. The study looked at whether trace amounts of metals found in spruce trees could lead prospectors to the next big mineral discovery. As part of the TREK project, a total of 421 side-branch samples, comprising one kilogram of twigs and needles, were systematically collected near...Read More
Chile's Codelco, the world's No.1 copper producer, has scrapped its plan to build a new mine at its El Salvador division and, instead, will extract the riches from the nearby Inca deposit by gradually expanding the current pit."While plans to expand Salvador, known as the Rajo Inca project, have not even reached pre-feasibility stage, the company has already decided that it's not building a new mi...Read More
Imperial Metals (TSX:III) has announced Huckleberry Mines has recalled 44 of the 85 employees that had been laid off from its open-pit copper mine near Houston, British Columbia, in January.The company, which has a 50% stake in Huckleberry Mines, had said at that time the 260-person workforce was being reduced due to low copper prices. In February, it put all other employees on notice, telling the...Read More
The World Bank sided with Crystallex over the Venezuela government and awarded the Canadian gold miner on Tuesday US$1.202 billion plus interest for the unlawful expropriation of Crystallex's investment in its Las Cristinas mining project.In 2011 Crystallex filed the arbitration request with the World Bank's International Centre for Settlement of Investment Disputes. During the same year the compa...Read More
Careful handling these minerals.911 Metallurgist and Mining Examiner compiled a infographic showing seven minerals that can be harmful if not handled properly.See the full list here.See the full list here.Read More
Toronto Ontario, April 8, 2016 - Nautilus Minerals Inc. (TSX:NUS, OTCQX:NUSMF, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that it has received gross proceeds of C$28,263,829.65 as a result of the closing of its rights offering through the issuance of an aggregate of 188,425,531 common shares at the subscription price of C$0.15 per share, representing approximately 2...Read More
Chile-focused copper miner Antofagasta Plc (LON:ANTO) announced Friday that Diego Hernandez is retiring as chief executive of the company and will be succeeded by Ivan Arriagada effective immediately.Arriagada took the helm of operating unit Antofagasta Minerals in February last year, at the same time as Hernandez moved from that role to run the parent company, owned by the Luksic family, one of C...Read More
Lundin Mining Corp., the base-metals company founded by the billionaire Swedish Lundin family, likely has one or two more acquisitions in its future - but is in no rush to get there."We'd like to have five or six operating mines that all have a decent life and a decent quality," Chief Executive Officer Paul Conibear said in an interview this week from the company's Toronto headquarters. "We ha...Read More
Last week Glencore announced plans to invest more than $1.1 billion in its Mopani copper complex in Zambia over the next two years.The investment, which will help improve the mine's operational efficiency and extend its life, is credit positive for the Southern African nation because it will help drive growth says ratings agency Moody's.Glencore's expansion and upgrade plan for 75%-owned Mopani wi...Read More
Canada has released a final version of its rules governing extractive sector transparency, which forces all publicly listed local miners to report payments including taxes, royalties, fees and production entitlements of $100,000 or more to governments both home and abroad.The Extractive Sector Transparency Measures Act, which came into force in June last year, requires large Canadian oil, gas and...Read More
Range bound trading session continued in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 137.33 points or 0.55% at 24,763.30. The losses for the Sensex were higher in percentage terms than those for the Nifty 50 index. The Nifty was currently down 33.85 points or 0.44% at 7,580.50. The Sensex failed to retain the psychologically important 25,000 level which it had...Read More
Workers at Freeport-McMoRan's (NYSE:FCX) Cerro Verde copper mine in Peru will begin Friday a 48-hour strike to protest what they describe as the near disappearance of their profit-sharing bonus this year.The Arizona-based company, which own a majority stake in the mine, has informed workers they are scheduled to receive an average bonus of $146 (483 soles) this year based on 2015 profits, down fro...Read More