Aurora gold mine, Guyana. (Image courtesy of Guyana Goldfields) Gran Colombia Gold (TSE: GCM) has announced that it has signed a definitive agreement for a business combination with Gold X Mining. The company has also submitted a proposal to acquire Guyana Goldfields in an all-share deal, which, on April 27, announced a $105-million cash-and-stock sale to China-focused Silvercorp Metals.The...Read More
Dixie Lake drilling in Ontario's Red Lake District - Image courtesy of Great Bear Resources. Great Bear Resources (TSX: GBR) announced on Monday that it has intersected the deepest and highest-grade interval to date on its flagship Dixie gold Project in the Red Lake district of Ontario.The company said that drilling intersected deep extensions of the Dixie Limb around 740 metres below surface and...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
Singapore energy trader ZenRock engaged in "dishonest practices", according to court filings made by HSBC to seek to remove the company's management and appoint auditor KPMG in charge. Court documents seen by Fastmarkets detail what HSBC describes as "a series of highly dishonest transactions," where ZenRock used the same cargo of crude oil to obtain at least two, but potentially several, lots of...Read More
The three-month lead price on the London Metal Exchange continued to climb into the closing session on Monday May 11, climbing by more than 1.6% to its highest level in three weeks, while steady buying in zinc futures kept the galvanizing metal's forward price above nearby support levels. The lead price closed at $1,671.50 per tonne on Monday afternoon, its highest closing price since April 20, wh...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
The latest data for the global manganese ore market for the week ended May 11, 2020.Read More
Capitan is in a district near a town called Penoles where the Jesus Maria, San Raphael and Capitan mines were previously operated, although the plan is not to restart the former mines.Read More
The diversified miner made the response among a series of answers to shareholder questions which were posed in writing this year, due to the COVID-19 restrictions on its annual general meeting last week. Anglo American said its thermal coal operations in South Africa constituted a "strong and attractive" business but the company had been reducing its thermal coal production footprint f...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ending Monday May 11. China Higher priced deals for low-grade seaborne manganese ore helped widen the index's unusual premium against its high-grade equivalent. Limited supply of 37% material stemming from the...Read More
The raising comes with an underwritten institutional placement with JP Morgan, Merrill Lynch and Macquarie for $600 million, with the new shares amounting to 18.6% of issued shares. A further $75 million would be sought in the form of a non-underwritten share purchase plan. If demand is high, Incitec may expand the SPP. The placement is priced at $2 per share, around a 10% dis...Read More
Gold royalty company Franco-Nevada will fund up to $150 million of Solgold's Alpala project in Ecuador, the mine operator said on Monday May 11. The net smelters returns (NSR) agreement includes an initial $100 million to Solgold which will pay a perpetual 1% NSR interest. The total amount could increase by $50 million and to a 1.5% NSR interest rate within eight months. NSR is the amount of reven...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current electronic pricing model, chief executive officer Matthew Chamberlain said."The LME will be adopting a very staged and cautious return to its office, given the effectiveness of our work at home practices," Chamberlain said, speaking in video format on May 7 on the LM...Read More
Turkish steel mills returned to the deep-sea scrap markets amid better domestic steel demand, causing prices to rise, while other major markets except Vietnam were largely stable during the working week ended Friday May 8.Turkish steel producers resume deep-sea bookings, prices upUS scrap export market silent; dock buying prices flatSentiment in the Vietnamese scrap import market positive due to i...Read More
Turkish steel producers have resumed their deep-sea scrap purchases at higher prices amid recovering demand in the country's local long steel markets, with further sales to Europe anticipated when the safeguarding quota period ends at the end of the June.A steel mill in the Izmir region booked a Baltic Sea cargo comprising 24,000 tonnes of HMS 1&2 (80:20) at $251.75 per tonne and 6,000 tonnes of b...Read More
Domestic scrap prices in the Turkish markets have increased over the past week amid a strengthening of demand, sources said on Monday May 11.The steel mills in the Izmir region have increased their buy prices for auto bundle scrap by 50-75 Turkish lira ($7-11) per tonne over the past week.Long steel mills ID?? and Habas raised their buy prices for auto bundle scrap to 1,590 lira ($224) per tonne,...Read More
Here are five Fastmarkets stories you might have missed on Monday May 11 that are worth another look.A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on May 11.The London Metal Exchange will not rush back into trading on the open outcry ring and is happy with the effectiveness of the current ele...Read More
Gold royalty company Franco-Nevada will fund up to $150 million of Solgold's Alpala project in Ecuador, the mine operator said on Monday May 11. The net smelters returns (NSR) agreement includes an initial $100 million to Solgold which will pay a perpetual 1% NSR interest. The total amount could increase by $50 million and to a 1.5% NSR interest rate within eight months. NSR is the amount of reven...Read More
US-based lithium and speciality chemicals producer Albemarle said on Thursday May 7 that it was considering the acquisition of all or part of co-owner Tianqi's share in the Greenbushes lithium mine in Western Australia.In a call with investors discussing Albemarle's first-quarter results last week, chief executive officer Kent Masters said: "We know that Talison [Lithium] is a good project for us....Read More