A summary of the production results from global mining and metals company South32 for the fourth quarter of its 2020 financial year as well as its full financial year - covering July 1, 2019 to June 30, 2020 - from its quarterly report released on Monday July 20. In briefSouth32 registered a metallurgical coal output of 1,523,000 tonnes in its fourth quarter, up 19% from the same period in it...Read More
Seaborne iron ore concentrate and pellet prices surged in the week to Friday July 17, inspired by higher prices for mid- and high-grade fines, traders told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $119.24 per tonne, up $6.63 per tonne from $112.61 per tonne a week earlier. 65% Fe blast furnace pellet, cfr Qingdao: $128.28 per tonne, up $8.11 per tonne from...Read More
A few Chinese steelmakers raised their export offers for hot-rolled coil on Monday July 20 amid stable domestic prices and a weakening dollar.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($555-556) per tonne, narrowing from 3,870-3,900 yuan per tonne Trading was thin on Monday, with buyers taking a wait-and-see approach to the market amid falling futures, sources told Fastmarkets.But prices...Read More
China's domestic rebar prices held steady on Monday July 20 despite an increase in demand, with the futures and billet markets weakening during the day.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($509-514) per tonne, unchangedRainfall has decline in eastern and southern China in recent days, which resulted in a strengthening of demand for rebar from the construction sector. But weakening...Read More
Three-month base metals prices on the London Metal Exchange were subdued during morning trading on Monday July 20, with thin volume keeping most metals range-bound, while a continued downtrend in LME copper stocks kept the metal's underlying price elevated. Yet sideways trading comes amid continued caution surrounding the European Union's economic summit, which continues this week and sees economi...Read More
Markets were mixed across the board this morning, Monday July 20, with traders focused on the prospects for a recovery fund from the European Union, while the weak Japanese export data highlights the economic damage that Covid-19 has dealt.Japan's exports dropped by 26.2% year on year in June......auto exports to the United States were particularly hard hit.Base metals Three-month base metals pric...Read More
Cobalt metal is trading at the time of publication in mid-July at prices around an 11-month low since breaking through a price floor just above $15 per lb that had been set in December 2019.The Covid-19 pandemic has badly affected global industry including the production of cobalt-containing products, and has clouded the outlook for future consumption, outweighing the effects of the supply disrupt...Read More
Export prices for China-origin silicon rose last week despite persistently lackluster demand from abroad, with Chinese exporters raising their offers in line with a strengthening domestic market.Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,380-1,410 per tonne on Friday July 17, up by $30-50 per tonne (3%) from $1,330-1,380 per tonne a week earlier.Sources...Read More
Key data from the Friday July 17 pricing sessions in London and Shanghai.Key drivers Spot cobalt hydroxide payables moved up after buyers attempt to secure units amid persistent tight availability by bidding at higher levels, with majority of these bids...Read More
Cardinal Resources' (TSX: CDV; ASX: CDV) Namdini mining licence has officially received sovereign parliamentary ratification in Ghana, the company says."This ratification and the recent issuing of the Environmental Protection Agency (EPA) permit, along with our water extraction permit and relocation action plan approval, places the Namdini gold project into an extremely secure and solid position f...Read More
Yamana Gold (TSX: YRI; NYSE: AUY) is in the advanced stages of its London Stock Exchange (LSE) listing, the company says.The Toronto-based miner, currently listed on the TSX and on the NYSE, said that it intends to become the "investment of choice" in London for those looking for exposure to gold."The LSE currently has a limited number of sizeable pure-play gold producers with annual production of...Read More
Discovery Metals (TSXV: DSV; US-OTC: DSVMF) has released results from eight holes completed at its Cordero project in Mexico's Chihuahua state, including 1 metre grading 1,907 grams per tonne silver-equivalent (700 grams silver per tonne, 0.74 gram gold per tonne, 16.1% lead and 14% zinc) in its first hole testing the 1.2-km-long Todos Santos vein trend at the project.The intercept, in hole 342, s...Read More
Jiangxi Copper has sold 1.2 million shares in First Quantum Minerals (TSX: FM; LSE: FQM), according to SEDI filings, BMO reported.The sale represents less than about 0.2% of First Quantum's roughly 689 million common shares outstanding. Jiangxi Copper bought an 18.6% equity stake in the miner in December 2019 and remains First Quantum's largest shareholder.BMO analyst Jackie Przybylowski said Jian...Read More
Asiamet Resources: Copper's Best Kept SecretSPONSOREDasiamet resourcesScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.IronRidge shows its mettleSPONSOREDironridge resources Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesWith initial production likely to be around 35,000 tonnes of copper a year and 65,000 ounces of gold Winu, in its ea...Read More
German luxury vehicle maker BMW signed a US$2.3 billion long-term deal earlier this month with Swedish battery maker Northvolt, the latest of such deals, as European carmakers try to compete with Tesla in the burgeoning electric vehicle (EV) market.Tesla's gigafactories and battery technology have long given it an edge in the EV market (Northvolt was started by two former Tesla executives), but wh...Read More
Scorpio Gold (TSXV: SGN) is acquiring land in Nevada's Manhattan mining district that adjoins the southwestern boundary of its Goldwedge property and includes two past-producing mines.The acquisition of the Manhattan project property claims from Round Mountain Gold and KG Mining will give Scorpio Gold control of land around its Goldwedge project, which contains a fully permitted underground mine a...Read More
Executive Fireside ChatRandy Smallwood, President and CEO, Wheaton Precious Metals CorporationMODERATOR: Carl A. Williams, Senior Reporter, The Northern MinerRead More
Executive Fireside ChatSean Boyd, Vice-Chairman and CEO, Agnico Eagle Mines LimitedMODERATOR: Anthony Vaccaro, Group Publisher, The Northern Miner GroupRead More
As a relatively rare and expensive heavy metal, cobalt serves as a vital but costly part of today's lithium batteries, not just in terms of dollars but also for the environment and well-being of those tasked with mining it. A new battery design from the University of Texas at Austin may help...Read full newsRead More
Oilfield services firm BJ Services filed for Chapter 11 bankruptcy protection early on Monday, following a severe cut in demand and cash crunch due to the coronavirus pandemic.Read full newsRead More