Iron ore producer Fortescue Metals on Tuesday reported a 2 percent fall in third-quarter iron ore shipments on reduced demand in China, while the discount for its lower quality ore also widened.The world no. 4 iron ore miner said it received 62 percent of the average benchmark Platts 62 CFR index for its ore during the quarter, down from 68 percent in the first half of fiscal 2018.However, Fortesc...Read More
The UK National Contact Point released a report today where it states that Kazakh mining giant Eurasian Resources Group flouted the rights of thousands of people living on its cobalt and copper concession in the Lualaba province of the Democratic Republic of Congo.According to the UK government body for the OECD Guidelines for Multinational Enterprises, the company was aware that water supplies fo...Read More
The Dollar Index broke above the key 90.00 level, up 5 days in a row -the biggest spike since Dec 2016 - to its highest level since mid-January. With net speculative positioning at extreme shorts, and liquidity stress (Libor-OIS), one wonders how far the short squeeze can go...Read full newsRead More
Commodity prices tumbled on news the U.S. could provide sanctions relief to Russian aluminum giant, Rusal, if Oleg Deripaska relinquishes control and sells his stake, while extended the deadline for companies to wind down dealings with Russian aluminum producer.Read full newsRead More
Bitcoin (BTC) endured a miserable winter, but with the arrival of spring cryptocurrency experts predict that international regulators will send the price soaring following a 'huge policy U-turn on cryptocurrencies.' With the crypto winter price freeze now thoroughly thawed, the spring seaso...Read full newsRead More
Tony O'Reilly, chief executive of Providence Resources PLC (LON:PVR), discusses the long awaited and hotly anticipated breakthrough for the Barryroe project, off Ireland's south coast.A farm-out deal with a consortium of Chinese companies puts Barryroe on-track to become Ireland's first producing oil field - at its peak the field could eventually produce a hundred thousand barrels of crude per day...Read More
APQ Global Limited's (LON:APQ) Bart Turtelboom tells Proactive Investors in the first quarter of 2018 they decreased their exposure to equities and credit.At the end of the period, the bulk of the company's overall exposure was in credit and government bonds (65.6% of book value), followed by equity exposure (28.0%).EM local currency bond exposure accounted for 22.5% of book value.The company paid...Read More
Utilitywise plc (LON:UTW) saw its shares rise 7.1% to 29.8p in late-afternoon trading as increased customers led to double digit profit growth in its interim results.The AIM-listed utilities consultant reported a pre-tax profit of ?950,000, swinging from a ?12.9mln loss for the same period last year which was caused mainly by legal and restructuring costs.Revenue for the period grew to ?39.7mln...Read More
BlueRock Diamonds PLC (LON:BRD) CEO Adam Waugh and CFO David Facey caught up with Proactive Investors to discuss the miner's first quarter update.Grades from its Kareevlei diamond mine were 3.8 carats per hundred tonnes (cpht) for the first quarter, up from 1.92 cpht for the same period last year.The amount of carats sold also shot up to 1,563 compared to 92 in the first quarter of 2017, represent...Read More
Story by Jeff DesjardinsIs the commodity supercycle coming back from the dead?For now, such a claim could perhaps be considered both bold and premature - but there does seem to be some compelling evidence that is mounting to back it up.The asset quiltAccording to the most recent "Asset Quilt of Total Returns" put together by Bank of America Merrill Lynch, commodities are the top returning asset cl...Read More
Eric Zurrin, chief executive of Shanta Gold PLC (LON:SHG), chats to Proactive's Andrew Scott following the release of their first quarter update.Output in the three months to March was 17,663 gold ounces against 21,288 in the previous quarter, though this was in line with the annual target of between 82-88.000oz.New Luika recently started underground production and Shanta is focused on reducing de...Read More
Vangold Mining Corp. (TSXV:VAN; OTC:VGLDF) ('Vangold' or the 'Company') is pleased to announce that the Company will be participating in The Northern Miner - Canadian Mining Symposium at Canada House in London on April 24th and 25th.Read full newsRead More
Rod McIllree, chief executive of Bluejay Mining PLC (LON:JAY) talks Proactive's Andrew Scott through the upgrade to the ilmenite resource at the Dundas shoreline project in Greenland.The mineral sands prospect now holds 96mln tonnes at 6.9% ilmenite, a 400% increase on the first estimate a year ago.Consultant SRK calculated the estimate using a combination of auger and sonic drilling.Dundas is one...Read More
JAKARTA, April 23 (Reuters) - Indonesian coal miner Adaro Energy is targeting coking coal output of 1 million tonnes this year, up from 740,000 tonnes in 2017, a company director said on Monday.That excludes any increase in Adaro's coking coal output that may come from its planned purchase of the Kestrel mine in Australia from Rio Tinto .Adaro unit Adaro MetCoal Companies (AMC) has 54 million tonn...Read More
BEIJING, April 23 (Reuters) - Aluminum Corp of China Ltd , known as Chalco, said on Monday that first-quarter net profits fell by 19.4 percent from a year ago due to lower aluminium prices but one-off gains helped it avoid a much worse result.The company, China's biggest state-run aluminium producer, said in a filing to the Shanghai Stock Exchange that net profit during the January to March was 30...Read More
Straterra, New Zealand's minerals sector industry organization, has welcomed Energy Minister Megan Woods comment on TVNZ's Q and A on Sunday that the government has no plans to end coal mining in New Zealand, particularly in light of government's recent decision to ban all offshore exploration for oil and gas which sent shock waves through the business community."As well as providing jobs and con...Read More
Africa-focused gold producer Randgold Resources (LON:RSS) said Monday it its Democratic Republic of the Congo mine to achieve full production guidance this year, following the commissioning of its underground operation's automated material handling system.The company, which has five operating gold mines across west and central Africa, said Kibali is expected to generate 730,000 ounces of gold th...Read More
WARSAW, April 23 (Reuters) - Polish copper producer KGHM Polska Miedz said on Monday its first-quarter copper sales fell 12 percent year on year to 133,400 tonnes.KGHM also said in a statement that silver sales fell in the same quarter by 16 percent to 212.6 tonnes.(Reporting by Marcin Goclowski and Anna Koper; editing by David Evans)Read More
WASHINGTON/MOSCOW, April 23 (Reuters) - The United States on Monday gave American customers of Russia's biggest aluminum producer more time to comply with sanctions, and said it would consider lifting them if United Company Rusal Plc's major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company.Aluminum prices on the London Metal Exchange tumbled 8.7 percent on the U.S. Treasury...Read More
Precious gemstones miner Gemfields is stepping up efforts to increase transparency across the entire supply chain amid fresh allegations of human rights abuses at its Montepuez ruby mine in Mozambique, which has cost it a lawsuit filed last week in London's High Court.Leigh Day, the London-based law firm representing over 100 locals, said security forces employed by the miner - which describes it...Read More