WASHINGTON (Reuters) - North Korea could buy time to build up and refine its nuclear arsenal, including a warhead able to survive re-entry into the Earth’s atmosphere, if it manages to drag out any talks with Washington, U.S. officials and experts say.Even if North Korea freezes nuclear detonations and missile tests during such talks - as South Korea has said Pyongyang offered to do - there...Read More
Prices for hollow steel sections in Europe are expected to rise because of the low availability of steel coil, market sources have told Metal Bulletin.The supply of hot-rolled coil (HRC) has reduced because mills are heavily booked and there has been a lack of workable import offers. These factors have put tube mills in a quandary when trying to secure...Read More
WASHINGTON (Reuters) - President Donald Trump's former campaign manager, Corey Lewandowski, arrived at the U.S. Capitol on Thursday to be interviewed by the House of Representatives Intelligence Committee as it investigates Russia and the 2016 U.S. election. Lewandowski arrived at around 11 a.m. EST (1600 GMT) and was expected to talk to panel members behind closed doors until about 2 p.m. (1900 G...Read More
Image: GlencoreThe price of copper dropped close to its 2018 lows and iron ore prices plunged on Thursday after customs data showed imports of raw materials by China weakening sharply in February.In brisk trading New York Comex copper for delivery in May gave up over 2% compared to Wednesday settlement price trading at $3.07 a pound ($6,770 per tonne). Copper is down 7% year to date.China's copper...Read More
The Mexican government has imposed final anti-dumping duties on imports of welded tube from China, the country's economy secretariat said.The decision follows confirmation that Chinese products were entering the country at lower prices than domestic ones, resulting in significant dumping margins, it added on Thursday March 8.Goods shipped by Chinese exporter Huludao will...Read More
LONDON (Reuters) - The euro fell on Thursday as the dollar recovered and traders reduced their positions before a European Central Bank meeting later in the day where it could signal some baby steps toward ending monetary stimulus.All eyes will be on the ECB for clues about the speed and timing of monetary tightening and any signs it is starting to grow uncomfortable with the currency’s stre...Read More
SANTIAGO, March 8 (Reuters) - Chile's state-owned mining company Codelco, the largest copper producer in the world, received environmental approval this week to build a $1 billion desalination plant to supply water to its operations in the country's northern region.The go-ahead from the Antofagasta region's environmental regulator will allow the company to expand its Radomiro Tomic mine and advanc...Read More
WASHINGTON/SEOUL (Reuters) - Two senior South Korean officials arrived in the United States on Thursday to brief U.S. officials on their meeting this week with North Korean leader Kim Jong Un and Pyongyang’s apparent willingness to discuss denuclearization with Washington.South Korea’s National Security Office head Chung Eui-yong and National Intelligence Service chief Suh Hoon are exp...Read More
SHANGHAI, Mar 8 (SMM) – Nonferrous metals fell across the board in the afternoon with SHFE nickel leading the loss with a 2% drop. Copper and zinc were down over 1%, aluminium slid almost 1%, and other metals edged down.The ferrous complex also saw a weak performance, with iron ore and rebar leading the slump and closing 4% lower. Coke and coking coal dropped over 3%, and hot-rolle...Read More
Spending in mining and exploration in Canada's British Columbia saw increasing signs of life in 2017, growing for the first time in five years, according to the results of an EY survey released this week.Exploration spending increased 20% across the province in 2017, reaching $246 million, compared with $205 million in 2016. The increase was largely driven by gold exploration, which totalled $37 m...Read More
Rusty Hutson from Diversified Gas & Oil (LON:DGO) tells Proactive daily gas production has doubled following the acquisition of Appalachian Basin gas producer Alliance Petroleum.The deal has now completed for a total consideration of US$95mln ( ?66.9mln) comprising the purchase price of US$70mln plus US$25mln of debts.Hutson also says the planned acquisition of CNX in on track to be completed...Read More
Major Japanese steel producer Nippon Steel & Sumitomo Metals Corp (NSSMC) expects the requirements for car-making materials to become more diverse and advanced as automotive producers try to make vehicles that are lighter, stronger and more environmentally friendly."Rapid innovations in information technology such as artificial intelligence, a shift to electric [power] and other new energy vehicle...Read More
WASHINGTON (Reuters) - The U.S. State Department approved a total of $467 million worth of potential foreign military sales to Qatar and the United Arab Emirates, the Pentagon said in separate approval notices on Thursday.Raytheon Co was listed as the prime contractor for both the foreign military sales.The Qatar Emiri Air Force was approved for $197 million worth of equipment to upgrade its air o...Read More
The Democratic Republic of Congo imminent law that more than double the tax miners operating in the country pay on exports of cobalt, will severely affect buyers of the metal, a key component in the lithium-ion batteries that power electric cars and mobile phones."Given the tight nature of the cobalt market at present, we would expect miners to attempt to pass through higher royalty costs to c...Read More
HOUSTON/NEW YORK (Reuters) - Global executives and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping.Beginning in 2020, shipping vessels will not be allowed to burn fuel with a sulfur content higher than 0.5 percent, down from 3.5 pe...Read More
Larry Johnson of Kennedy Ventures (LON:KENV), tells Proactive things are going well and great progress is being made on the ground at the Namibian Tantalite Investment Mine (NTI).''It's exciting ... we've done four shipments. The mine is producing very nicely.''''I'm going to continue growing this company on a global basis''.Johnson adds discussions are going well with potential additional custome...Read More
Swedish mining company Boliden (STO: BOL) won't have to pay over $12 million (100 million Swedish crowns) in compensation for health problems allegedly caused by toxic waste it dumped in northern Chile, a court ruled Thursday.The lawsuit filed in 2013 by around 800 residents of the city of Arica, in northern Chile, alleged Boliden exported 20,000 tonnes of mining waste in the mid-1980s, despite kn...Read More
SHANGHAI, Mar 8 (SMM) – The copper spot market in Shanghai was less active on Thursday March 7 than a day earlier with the red metal trading at a discount of 130-70 yuan/mt. As the SHFE copper edged down today with resistance at the five-day moving average, spot prices faced pressure with reluctant buyers.At noon, higher-grade copper traded at 51,720-51,800 yuan/mt, SMM learned. Fo...Read More
WASHINGTON/PARIS/BEIJING (Reuters) - President Donald Trump promised on Thursday to show great flexibility and cooperation toward the United States’ “real friends” as he prepared to impose import tariffs that have provoked warnings of a trade war from Europe and China.Trump had been expected later in the day to sign a proclamation imposing 25 percent tariffs on steel imports and...Read More