A new report by Adamas Intelligence forecasts that the market for magnet rare earth oxides will increase fivefold by 2030 to US$15.65 billion from the current US$2.98 billion.Underpinning this growth is total magnet rare earth oxide demand, which is forecast to increase at a compound annual growth rate of 9.7%, and prices, which are projected to increase at CAGRs of 5.6% to 9.9% over the same peri...Read More
Although gold volumes were down slightly, Kirkland Lake Gold (TSX: KL; NYSXE: KL; ASX: KLA) reported strong first quarter results for 2021. Production of 302,847 oz. exceeded the top end of previously announced guidance for the quarter at 290,000 oz. Higher than expected output at both the Fosterville and Detour Lake mines contributed to the overage.The company sold 308,029 oz. at an average reali...Read More
Newly listed American Eagle Gold (TSXV: AE) continues to focus on exploring its flagship Golden Trend property in Nevada. The company's 925-hectare site was acquired in July of last year and is located in the state's rich Cortez Trend, adjacent to Barrick Gold and Newmont Mining's joint venture Nevada Gold Mines Goldrush deposit and Cortez mine, which collectively host over 27 million oz. of gold....Read More
Prices for imported ferrous scrap to China increased on Friday May 7 amid transactions heard concluded at $527-529 per tonne cfr northern China.Offers were heard at $530-535 per tonne cfr northern China for HRS101 ferrous scrap, which is equivalent to around $520-525 cfr eastern China. The offer prices were up by $5 compared with a day earlier.There were limited bids heard on Friday because China...Read More
Buyers of containerized ferrous scrap in the key Taiwanese market paid higher for imported cargoes over the week despite attempts to resist price increases.Fastmarkets' daily price assessment for containerized steel scrap, HMS 1&2 (80:20), United States material import, cfr main port Taiwan was $440-445 per tonne on Friday May 7, increasing by $5-10 per tonne from a day earlier and up by $17-20 pe...Read More
Shares in lithium explorer and developer Bacanora Minerals (LSE: BCN) jumped as much as 38% on May 6 after China's Ganfeng Lithium, one of the world's top lithium producers, offered the company to buy the shares it does not already own for up to ?190 million (US$264.5 million).The deal, which values Bacanora at up to around ?267 million (US$371 million), comes as prices for lithium surge due t...Read More
Import prices for ferrous scrap in Vietnam increased during the week to Friday May 7 on bullish sentiment in the spot market, and could break the $500-per-tonne-cfr-Vietnam mark for bulk cargoes, industry sources told Fastmarkets.Japanese H2 scrap cargoes were offered at $480-490 per tonne cfr Vietnam, up $10 per tonne week on week. But not many cargoes were offered because sellers are awaiting th...Read More
Canada's Lucara Diamond (TSX:LUC) has secured up to US$220 million in credit-approved commitments for senior debt facilities, which will help it fund a five-year, US$514 million underground expansion of its Karowe mine in Botswana.The package consists of a project finance facility of US$170 million for the expansion and a working capital facility of US$50 million to bankroll the ongoing operatio...Read More
A majority of Rio Tinto's (NYSE: RIO; LSE: RIO; ASX: RIO) shareholders oppose the exit package handed to former chief executive Jean-S?(C)bastien Jacques, ousted after the destruction of sacred rock shelters in Western Australia last year.More than 60% of the votes cast on May 6 at the company's annual meetings in London and Sydney were against its remuneration report, which showed Jacques recei...Read More
The Chinese import market for steel billet continued its rapid climb over the past seven days, with healthy demand being supported by soaring steel prices in the country.Chinese steel prices have spiked again this week, with hot-rolled coil prices setting domestic records and rebar prices leaping closer to 2008's all-time highest level.At the heart of the latest rise in rebar prices have been expe...Read More
Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) vowed today to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at its Kamoa-Kakula joint-venture in the Democratic Republic of Congo (DRC), as the project nears first copper production.The miner said it was committed to work with Kamoa-Kakula's partners to ensure it becomes the first net-zero operational carbon emitter among the worl...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 5 that are worth another look.German steel companies Thyssenkrupp Steel and H? 1/4 ttenwerke Krupp Mannesmann (HKM) and the Port of Rotterdam Authority are to jointly investigate setting up international supply chains for hydrogen.AfriTin Mining will increase production at its fledgling...Read More
Starr Peak Mining (TSXV: STE; US-OTC: STRPF) has reported initial assays from its first drill program on its NewMetal property in Quebec's Abitibi greenstone belt, immediately adjacent to the town of Normetal and about 140 km northwest of Val-d'Or.Highlights included drillhole STE-21-08, which intersected 12.10 metres grading 20.94% zinc, 0.43% copper, 39.58 grams silver per tonne, and 0.21 grams...Read More
The Canadian Mining Hall of Fame is now accepting nominations for individuals who have demonstrated leadership and outstanding achievement in the mining industry. "Canada's mining industry is essential and plays a key role in driving our economy forward while also being recognized as a global leader in sustainable practices," Pierre Gratton, chair of the Canadian Mining Hall of Fame and president...Read More
Soaring metals prices may be good for miners, but they risk the ongoing transition to clean energy as batteries, solar panels and wind turbines need considerable amounts of copper, nickel, cobalt, lithium and other minerals to be manufactured, a report warns.According to The International Energy Agency (IEA), reaching the goals of the Paris climate agreement would result in a quadrupling mineral d...Read More
Denison Mines (TSX: DML; NYSE-AM: DNN) is offering to buy JCU (Canada) Exploration Company, a wholly owned subsidiary of Overseas Uranium Resources Development Company Ltd., for cash payments of up to $40.5 million in three instalments and the assumption of JCU's liabilities.JCU (Canada) Exploration Company holds a 10% stake in Denison's 90%-owned Wheeler River project, which Denison describes as...Read More
Last week, Anthony Milewski, a director of International Consolidated Uranium, made the case to our readers that uranium sentiment is finally improving and the nuclear fuel is now having its day in the sun after years in the darkness following the Fukushima nuclear disaster in 2011. Milewski noted that there seems to be a shift in the willingness of governments to discuss nuclear energy openly now...Read More
Osisko Mining (TSX: OSK) has reported the latest drill results from infill and expansion drilling at its 100%-owned Windfall gold project in Quebec's Abitibi greenstone belt, 200 km northeast of Val-d'Or and 115 km east of Lebel-sur-Quevillon.Highlights included drillhole WST-21-0729, which was drilled on the Triple Lynx zone, and intersected 2.7 metres grading 124 grams gold per tonne from 304.9...Read More
Grade control drilling at Artemis Gold's (TSXV: ARTG) Blackwater project in central B.C. has confirmed that the starter pit outlined in a 2020 prefeasibility study contains wide, near-surface intervals of elevated gold grades.Highlights of the reverse-circulation drill program include: 27 metres of 12.5 grams gold per tonne starting at 24 metres depth; 33 metres of 10.4 grams gold per tonne starti...Read More
Fission Uranium (TSX: FCU; US-OTC: FCUUF) has announced a $30 million bought deal public offering, the proceeds of which will be used to advance development of the Triple R deposit in Saskatchewan.The company is issuing 50 million units, each of which is priced at $0.60. Each unit will be comprised of one common share and one-half of a share purchase warrant. Each full warrant will entitle the hol...Read More