Scrap prices in Mexico were unchanged in the week to Friday September 25 and market participants fear prices may have reached a peak after a series of successive increases.Fastmarkets assessed the consumer buying price for No1 busheling, delivered mill Bajio unchanged at 6,450 pesos ($288) per tonne on Tuesday September 29, while that for No1 heavy melt, delivered mill Bajio was...Read More
Seaborne iron ore prices were up on Tuesday September 29 amid the easing of sintering restrictions in Tangshan over October, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.61 per tonne, up $1.46 per tonne.62% Fe low-alumina fines, cfr Qingdao: $117.89 per tonne, up $1.74 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $108.59 per tonne, up $1.84 per tonne.6...Read More
Seaborne premium hard coking coal prices increased slightly on Tuesday September 29. Demand in India for seaborne materials was good, while most Chinese market participants were awaiting developments in the spot market after the country's Golden Week holiday.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.48 per tonne, up by $0.62 per tonnePremium hard coking coal, cfr Jingtang: $144.9...Read More
Steel market participants often identify iron ore as the key driver of steel prices because mills typically formulate their pricing strategies based on raw material costs - but this appears to have changed in 2020.While some unique challenges have emerged this year due to the Covid-19 pandemic, one development that stood out from the rest is this: Iron ore market participants have attributed the s...Read More
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Slight decreases in import prices for steel scrap in Turkey in recent days have stunned market participants in Asia who had expected a larger drop.Turkish mills had avoided purchasing steel scrap in bulk from the United States and Europe for over two weeks before returning to the market last week to buy two Baltic cargoes of heavy melting scrap 1&2 (80:20) at $296 per tonne cfr, down by just $5 pe...Read More
Charles Li, chief executive of Hong Kong Exchanges and Clearing (HKEX) will retire early on December 31 this year and take up the role of senior advisor to the board for six months, HKEX said on Tuesday September 29.Li had previously announced that he would not seek a renewal as chief executive at the end of his current contract and was expected to initially leave his role in October 2021."Being c...Read More
Base metals prices on the London Metal Exchange were mixed but little changed this morning, Tuesday September 29, while prices on the Shanghai Futures Exchange were firmer as they caught up with Monday's performance on the LME.Last week's pullbacks have run into dip-buying - hopes for further stimulus are buoying markets.US Congress making progress in talks regarding support measures.Markets might...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt standard grade,...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process...Read More
Ford Motor Company of Canada will become the country's first manufacturer of all-electric vehicles, starting in 2024, the company said on Monday September 28.Ford will commit C$1.8 billion ($1.35 billion) to repurpose part of its biggest car plant in Canada, the Oakville Assembly Complex, and will introduce a new engine program at another plant, in Windsor. Both are in the Canadian province of Ont...Read More
Stainless steel producer Outokumpu has made changes to its leadership team that will take effect on October 1, with a new company strategy to be announced the following month, the company announced on Tuesday September 29.Newly appointed members of the company's leadership team are: Thomas Anstots, executive vice president, commercial, Europe business area; Stefan Erdmann, chief technology officer...Read More
Large scale property acquisitions peaked in 2016-2017 led by China Molybdenum's purchase of the Tenke Fungurume mine in the Democratic Republic of the Congo.China Molybdenum bought Freeport-McMoRan's (NYSE: FCX) 56% stake in the copper-cobalt mine in November 2016 and picked up Lundin Mining's (TSX: LUN) 24% interest in April 2017 for a total consideration of $3.8 billion, based on data from Minin...Read More
Lion Battery Technologies is pushing forward with plans to develop lithium-ion batteries that use platinum and palladium to enhance battery performance.The company was formed as a joint venture between Platinum Group Metals (TSX: PTM; NYSE: PLG) and Anglo American Platinum (US-OTC: ANGPY), the world's largest producer of platinum group metals (PGMs), and aims to accelerate the development of n...Read More
This week's episode features DeepGreen Metals chairman and CEO Gerard Barron, who discusses the merits of deep-sea mining as an environmentally-friendly method of resource extraction. Gerard talks about his previous investment in Nautilus Minerals, the strategy behind mining polymetallic nodules, and what it's like to deal with the International Seabed Authority and the United Nations on mining pr...Read More
The most recent drill results from Canadian Palladium's (CNSX: BULL; US-OTC: DCNNF) 9.9-sq.-km East Bull property, 90 km west of Sudbury, Ont., returned broad intercepts of near-surface palladium mineralization from an area down-dip of the current resource.The preliminary results (which exclude rhodium values) are "the widest intervals of palladium mineralization reported to date at East Bull," th...Read More
GR Silver Mining (TSXV: GRSL; US-OTC: GRSLF) has discovered high-grade polymetallic disseminated and massive sulphide-rich mineralization during initial underground channel sampling on the lower level of the historic Plomosas mine at its Plomosas silver project in Mexico's Sinaloa state.GR Silver says assay results from one of the saw channel samples returned 16 metres of 90 grams silver per tonne...Read More
Jervois Mining (TSXV: JRV; US-OTC: JRVMF) is buying a nickel and cobalt refinery in Brazil from Companhia Brasileira de Alum?-nio for 125 million reals (US$22.1 million) in an effort to transform the company into a producer and refiner of battery metals.The miner said the S??o Miguel Paulista refinery in S??o Paulo had a production capacity of 25,000 tonnes per year nickel and 2,000 tonnes per yea...Read More
Tesla recharges the global battery industry but simplistic presentation causes chaosBattery-metal explorers and producers ought to coin a new (transitive) verb; "to Musk" is to confuse a science that is already complicated. Lithium developers, in particular, have been 'musked' since Tesla's Battery Day on Sept. 22.As already reported in The Northern Miner, there has been an incredibly diverse resp...Read More
Authorities in Queensland have granted Pembroke Resources a mining lease for its A$1 billion (US$710 million) Olive Downs mine, which is poised to become the state's third-largest coal operation.The mine, 40 km south of Moranbah in the Bowen Basin, will have a productive life of 80 years and will create 1,000 jobs, according to Annastacia Palaszczuk, Queensland's premier and trade minister.Core co...Read More