Miners around the globe dug up 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world's leader Chile, data released by the International Copper Study Group (ICSG) shows.The general increase, a 7.1% compared to Q1 2016, was mirrored by both concentrates (+7%) and solvent extraction-electrowinning or SX-EW (+7.3%) pro...Read More
Canadian gold junior Lumina Gold (TSX-V:LUM) has inked a formal five-year earn-in deal with First Quantum Minerals (TSX:FM), which will see the copper miner contributing $1.5 million for moving forward with exploration at Orquideas and Cascas gold/copper concessions in Ecuador.The agreement gives First Quantum the option of investing an additional $37 million over the course of the last four yea...Read More
Twenty-three of 27 Philippine mines assessed by a government panel for compliance with state regulations, including environmental laws, have passed the review, an official said on Thursday.Confirming an earlier Reuters report, the Mining Industry Coordinating Council found that four mines did not meet the criteria set by the government.The panel reviewed the 27 mines in the world's No. 2 nickel or...Read More
Newmont Mining Corp. (NYSE: NEM) has sold Japan's Sumitomo Corp. a 5%-stake in its Yanacocha gold mine in Peru for $48 million, making the Asian trading house a partner in the business that also involves local miner Buenaventura.The US miner and Buenaventura's ownership interests in the mine, which was Peru's largest gold operation until output began falling in recent years, will be 51.35% and 43....Read More
The company reported high-grade quartz-vein gold in big rocks strewn over a large area at what it called its Aamurusko discovery, two years ago. Similar summer field season activity last year, with some phase-one drilling, identified potential connected mineralisation near the "extensive high-grade surface mineralisation" over the 15,000-hectare Risti project area.Aurion says Risti's geology shows...Read More
SHANGHAI, Jun 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index slipped and closed at 94.85 overnight with weaker-than-expected US economic indicators. US treasury yields also fell.LME metals saw mixed trading. LME zinc dropped over 2% and fell to the lowest since August 2017. Lead and tin dipped while nickel and alu...Read More
SHANGHAI, Jun 21 (SMM) – SHFE nickel outperformed its nonferrous counterparts on Thursday June 21 with a gain of 1.7%. Tin inched up 0.19% and aluminium nudged up 0.04%. Copper dipped 0.12%, zinc and lead lost 0.60% and 0.68%, respectively.The ferrous complex saw mixed trading. Coke jumped 1.3%, iron ore edged up 0.22% while hot-rolled coil dipped 0.18% and rebar los...Read More
Investing.com - Gold prices remained at six-month lows on Thursday, as trade tensions between the U.S. and China resurfaced.Comex gold futures for August delivery were down 0.46% to $1,268.60 a troy ounce as of 10:57 AM ET (14:57 GMT).Tensions between the U.S. and China continue, as the two largest economies in the world faced a tit-for-tat over trade tariffs. Earlier this week U.S. President Dona...Read More
The company, which changed its name last month from Canada Zinc Metals, now plans to move the project through feasibility, permitting and towards production.Read More
It comes after Mineral Resources yesterday said it would not make a counterproposal to the A4.2c per share offer lobbed by Hancock subsidiary Redstone Corporation on Monday.The board of Atlas this morning withdrew its recommendation of the MinRes one-for-571 scrip offer, first announced in April.Shortly after, MinRes formally terminated the scheme implementation deed.Atlas will have to pay MinRes...Read More
But it has had to pay up big, forcing the 2015 BHP spin-off to mount a defence against suggestions that emboldened by its building cash on hand position of US$2.8 billion, it is paying too much for Hermosa.Read More
SHANGHAI, Jun 21 (SMM) – China is likely to implement a three-year initiative to “make skies blue again”, Zhao Yingmin, vice-minister of the Ministry of Ecology and Environment (MEE) said at a state policy briefing on Wednesday June 20.The initiative aims to sharply lower levels of PM2.5 in three years, reduce the number of heavy-polluted days and improve air quality. K...Read More
Comex copper prices traded in negative territory on Thursday June 21 morning in the United States, with threats of an impending trade war between the US and China hanging over the market.Copper for July settlement on the Comex division of the New York Mercantile Exchange inched down 0.70 cents or 0.3% to $3.0330 per lb. The contract is now on a six-day losing streak."Copper has started to consolid...Read More
Bullion was trading at US$1,262 an ounce on the spot market at the time of writing, about $13/oz lower than this time yesterday.Australian investors were undaunted, with gold miners in the benchmark S&P/ASX200 index all in positive territory in midday trade.Producer Saracen Mineral Holdings (ASX: SAR) was up 6.05% earlier and trading around a 52-week high.In Toronto, the S&P/TSX Composite...Read More
SHANGHAI, Jun 21 (SMM) –Copper: An increase of 14,000 mt in LME inventory suppressed LME copper to a low of $6,774/mt overnight after it hit a high of $6,867/mt. It rebounded slightly to the $6,800/mt level before it closed. The SHFE 1808 contract touched a low of 51,470 yuan/mt but found support at the 60-day moving average and closed at 51,680 yuan/mt. LME copper sees support at the $6,800...Read More
Metal Bulletin is seeking market feedback on a proposal to publish an all-in price assessment for Chinese cobalt sulfate alongside its existing price assessment for cobalt sulfate, 20.5% min Co, ex-works China. The discount/premium structure of the existing price assessment published as a $ per lb adjustment to the low end of Metal Bulletin's benchmark low-grade cobalt price assessment, launched o...Read More
Australian-Chinese miner MMG will sell its Sepon copper mining asset in Laos to a Chinese gold miner for $275 million, the company said on Thursday. MMG will offload its 90% stake in Lane Xang Minerals, owner of the Sepon mine, to Chifeng Jilong Gold Mining, according to the statement. The Sepon mine, which started operations in 2005, has produced over...Read More
The London Metal Exchange has decided to delist Worldwide Warehouse Solutions after a careful monitoring of the company's financial situation, Metal Bulletin has learned.Warehousing company Worldwide Warehouse Solutions (WWS) will be removed from the LME's metal warehousing network and all warranted metal there will be suspended, with the exchange citing concerns the company would "likely" become...Read More
Uncertainties in the Chinese stainless steel market, caused by environmental inspections in the downstream supply chain, were the focus of discussions on nickel's price in the second half at the Shanghai nickel forum held by COFCO Futures on Wednesday June 20. Nickel prices volatile in short term, bullish long term Panelists at the Shanghai forum were mainly positive about nickel prices in the lon...Read More