Key data from Fastmarkets' pricing session in Europe on Wednesday July 29.Key drivers The antimony market has established a price floor after a continued downward trend that started on March 31, aggravated by a slump in industrial activity caused by the measures intended to control the spread of the Covid-19 pandemic. The Chinese price strengthened last week in response to higher offers and produc...Read More
Two weeks after UC Rusal called for new Nornickel management and a relocation of its head office to Norilsk, Siberia - recently the center of three polluting events in six weeks - Nornickel has made several accommodations for its major shareholder. Rusal owns 27.82% of Moscow-based Nornickel.Having just announced multiple management changes, including the departure from public relations of a senio...Read More
A summary of Spain-based stainless steel producer Acerinox's financial results for the second quarter and first half of 2020. In brief Acerinox was able to mitigate the impact of the pandemic via cost reduction and integration of acquired VDM. The company reported a profit despite a fall in prices and a Covid-19 related decrease in activity. The company cited strong performance i...Read More
China produced 13.96 million tonnes of crude stainless steel in the first six months of 2020, down by 2.74% from a year earlier, according to data released by the China Stainless Steel Council (CSSC) on Tuesday July 28.Apparent consumption totaled 11.66 million tonnes during the period, down by 270,500 tonnes (2.27%) from the first half of 2019, it...Read More
Taiwanese buyers continued to purchase at higher prices for imported containerized ferrous scrap over the past week. Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $248-249 per tonne on Thursday July 30, increasing $1 per tonne from a day earlier and up by $4-5 per tonne from $243-245 per tonne cfr Ta...Read More
The continued price differential between Chinese and European vanadium prices that sparked interest in exports to China has left inventories in Europe depleted and has eventually sent European prices upward, market sources told Fastmarkets. Fastmarkets assessed the ferro-vanadium 78% V min, fob China price at $29.50-30.50 per kg on Thursday July 23, unchanged from the previous week, while its...Read More
88 Energy (ASX:88E) Prepares for Billion Barrel Farm OutSPONSORED88 energyScoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.IronRidge shows its mettleSPONSOREDironridge resources Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesMining is a tough business. With so many required steps from exploration to production, each needing to be taken in...Read More
Auryn Resources (TSX: AUG; NYSE: AUG) is acquiring Eastmain Resources (TSX: ER) in an all-share deal valued at C$121 million. The transaction will create a new firm, Fury Gold Mines, as well as two independent spin-out entities that will hold Auryn's Peruvian projects. The deal was announced on July 29."Fury Gold will combine the high-grade gold projects: Committee Bay in Nunavut, Homestake Ridge...Read More
The London Court of International Arbitration (LCIA) has recently rendered a final award in favour of Canadian uranium miner Denison Mines (TSX: DML) for the previously disclosed arbitration proceedings between the company and Czech-based firm Uranium Industry (UI).In November 2015, Denison completed the sale of its mining assets and operations located in Mongolia to UI pursuant to an amended...Read More
Probe Metals (TSXV: PRB; US-OTC: PROBF) has entered into a joint venture (JV) agreement with Midland Exploration (TSX: MD) on the Detour Gaudet-Fenelon project, located 75 km northwest of Matagami, Quebec.Under the agreement, Probe and Midland will each have a 50% participating interest in the JV project, with Probe as the project's operator and each party funding its proportionate share of the...Read More
Newmont (NYSE: NEM, TSX: NGT) said on July 29 that higher gold prices helped generate significant free cash flow in the second quarter of 2020.The world's largest gold miner's adjusted net income for the June quarter was $261 million, or 32 ? per diluted share, compared with $92 million, or 12 ? per diluted share, in the prior-year quarter. The results topped analysts' estimates of 31 ? per share....Read More
Rio Tinto (ASX, LON, NYSE: RIO) is once again discussing the development of the controversial large-scale Simandou iron ore project in Guinea, as half-year earnings support an investment case for the steel-making material.Iron ore, once again, made the lion's share of the world's second-biggest miner's profits for the first half of the year. The commodity has defied pessimistic predictions, climbi...Read More
Mining is a wealth-creation industry that produces the metals and minerals essential to every sector of our economy. For instance, in 2018, Canada produced over 60 minerals and metals from almost 200 mines and 6,500 sand, gravel, and stone quarries valued at $47 billion, according to Natural Resources Canada.Mineral exploration is at the front end of the mining industry, and the discovery of new o...Read More
Agnico Eagle Mines (NYSE, TSX: AEM) reported on July 29 a near four-fold increase in quarterly profit, owing to a surge in gold prices and a reduction in exploration costs during the second quarter of 2020.For the three-month period ended June 30, the Canadian gold miner posted a net income of US$105.3 million, or 43 ? per share, compared to US$27.8 million, or 12 ? per share, a year earlier.Accor...Read More
India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.Read full newsRead More
North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy the pipeline that transports most of the region's oil, executives and analysts said.Read full newsRead More
Commodities Analysis by Ellen R. Wald, Ph.D. covering: Crude Oil WTI Futures, United States Oil Fund, LP, WTI/USD. Read Ellen R. Wald, Ph.D.'s latest article on Investing.comRead full newsRead More
VANCOUVER, BC, July 28, 2020 /PRNewswire/ -- First Mining Gold Corp. ('First Mining' or the 'Company') (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG), ...Read full newsRead More
NEW YORK, July 28, 2020 /PRNewswire via COMTEX/ --NEW YORK, July 28, 2020 /PRNewswire/ -- Already one of the largest and highest-grade gold producing...Read full newsRead More
Jul 28, 2020 (Financial News Media via COMTEX) --FN Media Group Presents Microsmallcap.com Market Commentary New York, NY - July 28, 2020 - Already one of...Read full newsRead More