A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More
Freeport McMoRan's subsidiary PT-Freeport Indonesia (PT-FI) is advancing agreements to expand its Gresik copper smelter and refinery by 30% and plans to up its stake in PT Smelting to a majority interest, the company said. The expansion is targeted for completion by the end of 2023 and will see annual capacity at PT Smelting - in which PT-FI currently has a 39.5% stake - increase by 300,000 tonnes...Read More
Fastmarkets has corrected its alumina index, fob Australia, which was published incorrectly on Tuesday July 20 and Wednesday July 21 due to an index calculation error.On July 20, the alumina index, fob Australia, should have been $289.74 per tonne but was incorrectly published as $289.62 per tonne.On July 21, the alumina index, fob Australia, should have been $291.11 per tonne but was incorrectly...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
Increasing supplies of H2-grade steel scrap have allowed South Korean buyers to obtain the material at lower prices in the week to Thursday July 22, sources told Fastmarkets.Summer maintenance rounds at various Japanese steelmakers have reduced consumption of material in that local market, but the tighter supply and strong demand seen in higher grades such as Shindachi busheling have kept prices f...Read More
Much higher supplies of natural gas, hydrogen, 'green' electricity, and steel scrap will be needed for the development of Direct Reduction Iron-Electric-arc Furnace (DRI-EAF) steelmaking processes in China,Baowu Group said on Thursday July 22."Developing the DRI-EAF steelmaking technologies is an important and inevitable step for the Chinese steel sector to achieve carbon neutrality," Xu Wanren, t...Read More
A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More
Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 22, but have generally recovered from Monday's weakness, suggesting the dip-buying mentality still dominates. Lead prices at fresh highs as German lead producer Berzelius declared force majeure on supply after severe flooding forced it to suspend operations at its Stolberg smelter. United States 10-year treasury yie...Read More
Navarre Minerals Limited (ASX: NML) is an advanced gold exploration Company, focused on discovering and developing large, long-life and high-grade gold deposits, in underexplored areas of Victoria, Australia. We learned from Ian Holland, who is Managing Director of Navarre Minerals, that they have a high-quality portfolio of projects, assembled before the spotlight was shone on Victoria's prospect...Read More
When I heard that Battle Motors, the electric truck manufacturer, was entering into a marketing partnership with the UFC, I thought it was an odd combination.But then I realized just how useful these trucks could be for the UFC.Maybe the company's refuse trucks are big enough to hold all of Nate Diaz's post-fight blood reserves ..Or maybe it's big enough to fit Conor McGregor's ego.Or better yet,...Read More
Michael Gumbley, who is Managing Director and CEO of Megado Gold Ltd. (ASX: MEG) gives us an update. Megado Gold has five high-quality gold exploration assets, covering 511km2 and one license application covering 227km2 in southern and western Ethiopia, with the geological potential to host gold deposits of significant scale. Megado's flagship projects are Babicho and Chakata, where there was hist...Read More
I'm sure I'm going to get a lot of pushback on what I'm about to tell you, but I'm going to say it anyway...The concept of space tourism is, for lack of a better word, stupid.Everyone's so excited about this new space tourism idea, claiming that one day it'll be cheap enough for anyone to take a trip to space.Bullshit.I've looked into this, simply from my perspective as an investor. I've pored thr...Read More
The European market for steel hot-rolled coil remained quiet on Thursday July 22, with most producers holding back offers amid seasonally slow trading, sources told Fastmarkets.Sentiment turned negative in Northern Europe after severe flooding in Germany and parts of Belgium reduced trading activity to close to zero, with buyers and sellers assessing the consequences for the market.Even though the...Read More
China's domestic hot-rolled coil prices edged lower on Thursday July 22 after market participants reacted to Beijing's latest efforts to stabilize commodity prices.DomesticEastern China (Shanghai): 5,800-5,900 yuan ($897-912) per tonne, widening by 20-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange touched an intraday low of 5,802 yuan per tonne in early afternoon tr...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
China's domestic rebar prices were unchanged on Thursday July 22 amid a confluence of opposing factors, but market participants expect them to regain their upward momentum soon.DomesticEastern China (Shanghai): 5,230-5,250 yuan ($809-812) per tonne, unchangedEnd-user demand for rebar continued to decline due to heavy rain in Henan province and high temperatures in other parts of China.But some res...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
Watch The FULL Podcast Show - http://Youtube.com/TimcastIRL?EUR
Stockman thinks there will be a "50% to 75% correction in the financial markets." Stockman contends, "The only asset that has held its value over time is gold." Stockman recommends everybody should be holding some gold as insurance against the coming "reset."*Please give the video a minute to loadDavid Stockman is a former Republican congressman from Michigan and was President Reagan's budget dire...Read More
Increasing supplies of H2-grade steel scrap have allowed South Korean buyers to obtain the material at lower prices in the week to Thursday July 22, sources told Fastmarkets.Summer maintenance rounds at various Japanese steelmakers have reduced consumption of material in that local market, but the tighter supply and strong demand seen in higher grades such as Shindachi busheling have kept prices f...Read More