The tech:gold ratio was waving red flags late in 2007.How does the same ratio look today?Do present day facts support the major top theory? Keeping Our Eye On The Ball As human beings, we all tend to focus on what is in front of us. During the session on Tuesday, June 19, this is what was in front of us. A More Balanced View One of the keys to making more prudent and rational decisions is to look...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the latest news and pricing stories on Wednesday June 20.Most base metals on the Shanghai Futures Exchange staged a minor recovery during Asian morning trading on Wednesday, after suffering sharp declines on Tuesday. The most-traded August copper contract price on the SHFE stood at 51,840 yuan ($8,010) per tonne as at 10.45 am Shanghai t...Read More
Silver mining stocks are speculative.Three (of the eight reported on) have been profitable recently.Silver prices are probably more stable than you think.Beginning Investments in silver, silver futures, and silver mining stocks are all highly speculative. Most of the silver-related literature in SA centers on discussions of the exploration prospects of the various silver mining companies, and pros...Read More
• Persistent USD buying interest keeps exerting downward pressure. • Improving risk appetite/pickup in the US bond yields add to the selling bias. Gold struggled to register any meaningful recovery and remained within striking distance of YTD lows, set in the previous session. With escalating US-China trade tensions doing little to stall overnight sha...Read More
Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Democratic Republic of Congo (DRC). Now it's being singled out as a beacon of commitment to efforts by state-run mining company G?(C)camines to restructure its mining sector. Switzerland-based miner-trader Glencore has settled a dispute over its Kamoto Copper Co (KCC) operation in the Dem...Read More
Over-eager zinc bears have contributed to a ballooning backwardation in London Metal Exchange price spreads, having bet prices would drop further and sooner than fundamentals have allowed. The LME cash/three-month zinc price spread swung into a $43 per tonne backwardation on Monday June 18, from $30 per tonne backwardation on June 12 and a $3 per tonne contango at the end of May. The spreads have...Read More
By David Hodari and Benjamin Parkin Copper prices were mostly lower as a trade dispute between the U.S. and China continued to foster concern about the health of the global economy. June-dated contracts for the industrial metal closed unchanged at $3.0465 a pound at the Comex division of the New York Mercantile Exchange on Wednesday, steadying after a rout earlier in the week. The most-active Ju...Read More
Zinc prices on the London Metal Exchange settled at their lowest in nine months at the close of trading on Wednesday June 20, while copper prices continued to edge lower on a surging US dollar index. Closing below $3,000 per tonne for the first time since August 2017, zinc prices fell to a low of $2,981 per tonne over the afternoon, shedding more than 6% of its three-month price week on week. ...Read More
Over-eager zinc bears have contributed to a ballooning backwardation in London Metal Exchange price spreads, having bet prices would drop further and sooner than fundamentals have allowed. The LME cash/three-month zinc price spread swung into a $43 per tonne backwardation on Monday June 18, from $30 per tonne backwardation on June 12 and a $3 per tonne contango at the end of May. The spreads have...Read More
June 19, 2018 - Nevada Copper Corp. (TSX: NCU) ("Nevada Copper" or the "Company") is pleased to provide an operations and drill results update regarding the Underground and Open Pit projects at its 100%-owned, fully-permitted Pumpkin Hollow Project in Nevada.HighlightsEarly Underground construction works ramping up:Early construction works continue to ramp-up at the Pumpkin Hollow Underground pro...Read More
A lingering backwardation in the July/August spread has pushed European aluminium premiums down past to levels last seen before the United States imposed sanctions on Russian producer Rusal.The benchmark Rotterdam duty-unpaid P1020 in-warehouse premium fell to $90-100 per tonne on Tuesday June 19, down 39% from a high of $150-165 through April after the sanctions on Rusal.The duty-paid alumin...Read More
The United States has twice as many operating mines owned by publicly-traded companies than any other country, according to data from Mining Intelligence.As of this month there are 845 operating mines in the U.S., giving it 20% of the world's total.Russia is second with 408. Canada ranked eighth with just 167 operating mines.Mines considered in the survey had the following criteria:Mines are owned...Read More
World's largest miner BHP (ASX, NYSE:BHP) (LON:BLT) is said to have hired Goldman Sachs to assist in the sale of the Western Australia-based Nickel West, four years after giving up on the plan to divest the asset because it could find a suitor to meet price expectations.In 2017, the last time Nickel West was on the block, Glencore offered $200 million for the business, The Australian reports. (su...Read More
Ten people were killed and another 10 injured after a dumping site for copper mining waste collapsed in the town of Kitwe in Zambia's Copperbelt province, police said on Wednesday."The incident happened this morning and at least 10 people have been confirmed dead," Copperbelt police chief Charity Katanga said by phone from Kitwe, 400 km (248 miles) north of the capital Lusaka.Zambia is Africa's se...Read More
Newsworthy drilling results have led to a 39.2% increase in measured gold ounces in an updated resource for the project, in the province's Golden Triangle. Read More
SHANGHAI, Jun 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index climbed above 95 and closed at 95.12 on Wednesday. US treasury yields also rose slightly after Federal Reserve Board chairman Jerome Powell saidthat there was a "strong" case to continue raising interest rates.“Earlier in the expansi...Read More
Agnico Eagle's LaRonde mine is the first to utilize AutoMine (R) with LTE communication network underground on a production scale. This will not only increase productivity and improve safety but also mark a breakthrough in technology.Sandvik was the first mining supplier in the world to introduce mine automation systems for underground hard rock mining and this time marks no exception. Sandvik wil...Read More
The above-mentioned intercept was part of a wider 147.7m at 1.25% copper and 0.28g/t gold from 42.5m."Our excitement now is getting to test the potential for additional Caballito magnitude widths and grades over the next kilometre of strike," president and CEO Marc Prefontaine said.The company said similar Caballito-style copper-gold mineralisation was found when relogging 2017 and historical dril...Read More
* Nasdaq posts record high close* Fed's Powell repeats case for gradual rate hikes* Dollar index steady, hovering near an 11-month peak (Updates with closing U.S. markets)By Caroline ValetkevitchNEW YORK, June 20 (Reuters) - Stocks on world markets edged higher on Wednesday, following a recent sell-off on rapidly escalating China-U.S. trade tensions, while Treasury yields rose after the Federal Re...Read More
* U.S. stocks mostly up after trade war worry sell-off* Fed's Powell repeats case for gradual rate hikes* Euro stays lower against dollar after comments by ECB's Draghi (Updates with afternoon U.S. trading, adds oil price settlements)By Caroline ValetkevitchNEW YORK, June 20 (Reuters) - Stocks on world markets edged higher on Wednesday, recovering from a recent sell-off on rapidly escalating China...Read More