At least three bidders are expected to submit final offers for global miner Rio Tinto's (RIO.AX)(RIO.L) Hail Creek and Kestrel coal mines in Australia, which could fetch up to $2.5 billion, people familiar with the process said.The Anglo-Australian mining company made a strategic decision in 2017 to exit coal and focus on growth in iron ore, copper and its aluminum division.Hail Creek and Kestrel...Read More
FRANKFURT/LONDON (Reuters) - European steelmakers are pinning their hopes on the European Union being able to negotiate an exemption from new U.S. steel import tariffs that have raised fears of a damaging trade warShare prices initially fell across the European steel sector on Friday, but there was something of a mixed picture, with two of the bloc’s biggest producers saying the move will ha...Read More
SHANGHAI, Mar 9 (SMM) – Nonferrous metals on the SHFE mostly dropped today except for tin, which inched up slightly. Zinc fell over 2%, copper slid almost 2%, and nickel dipped over 1%, while aluminium and lead edged down slightly.The ferrous complex saw larger drops in the afternoon as iron ore led the slump with a decline more than 5%. Coke dropped 4.7%, rebar slipped nearly 4%, while hot-...Read More
Canada's largest diversified miner Teck Resources (TSX:TECK.A | TECK.B)(NYSE:TCK) said Friday it expects to lose about 200,000 tonnes in coal output due to an almost two-month interruption at its Elkview coal mine in British Columbia.The Vancouver-based miner, which confirmed the restart of the mine's drying complex, said repairs will cost less than $10 million, in line with previous estimates.F...Read More
HOUSTON (Reuters) - Two influential U.S. senators pushed President Trump on Friday to be more nuanced in his approach to trade, in the wake of his controversial decision to impose tariffs on most steel and aluminum imports.“I would hope that we would not treat every country like a one size fits all,” U.S. Senator John Cornyn, Republican of Texas and Senate majority whip, said at the CE...Read More
BERLIN (Reuters) - The United States is missing out on a global boom for tourism, hurt by a so-called Trump slump and currency exchange rates, travel industry experts said at a gathering in Berlin this week.While U.S. President Donald Trump maintains that the travel ban blocking visitors from nations including Iran, Libya and Syria is needed to protect the United States from Islamic militants, the...Read More
A multidisciplinary and multiethnic team of scientists just published a paper in Nature where they explain the implications of having found calcium silicate perovskites contained within a tiny South African diamond.The gem was dug from the Cullinan mine, located 40 kilometres east of Pretoria, where the world's largest rough diamond was found in 1905. The mine was also the source of two of the lar...Read More
Andrew Prelea, chief executive of Vast Resources PLC (LON:VAST) tells Proactive they've secured a two-week extension with Sub-Sahara Goldia Investments (SSGI) for the repayment date of a US$1.68mln bridging loan due.The announcement came as Vast told shareholders they've given Mercuria Energy Group another two weeks to finalise its pre-payment offtake.The offtake offer's for 100% of the copper and...Read More
DUBLIN, March 9 (Reuters) - The European Central Bank isgetting closer to the limit of its current policy and willcommunicate its next steps as it receives more information aboutthe euro zone economy, governing council board member PhilipLane said on Friday."Obviously in the coming meetings we'll have moreinformation. We are getting closer to the limit of our currentpolicy so we will be commu...Read More
SHANGHAI, Mar 9 (SMM) – China's car sales are expected to be flat in 2018 due to sluggish demand, according to the China Automobile Dealers Association (CADA).Inventory pressure in China's automobile market eased in February, as the vehicle inventory alert (VIA) index came in at 52.3, showed data from CADA.The February VIA index fell 14.9 month on month, but...Read More
SDX Energy (LON:SDX) chief executive Paul Welch updates Proactive Investors on the new gas discovery at its SAH-2 well.SAH-2 was drilled down to 1,304 metres and has encountered some 5.2 metres of net conventional gas pay, across two zones (Guebbas and Hoot)Welch says they're now moving north to drill two exploration wells - the final two in their 9-well campaign. Meet AusCann Group Holdings...Read More
NEW YORK (Reuters) - Bitcoin dropped below $9,000 on Friday to its lowest level in 3-1/2 weeks on concerns about regulatory clamp down around the world following cases of large thefts of digital currencies.At 8:24 a.m. (1324 GMT), the biggest and best-known virtual currency was last quoted down 4.19 percent at $8,880.10 on Luxembourg-based Bitstamp exchange.Reporting by Richard Leong Disclaimer:...Read More
Export prices for Brazil-origin steel slab rose this week while market participants were estimating the consequences of the 25% tariff imposed by the United States following its Section 232 investigation into national security issues on steel imports.Metal Bulletin's weekly assessment of Brazil slab export prices was $560-570 per tonne fob on Friday March 9, up from $540-545 per tonne fob a week e...Read More
SHANGHAI, Mar 9 (SMM) – This is a roundup of global macro-economic news last night and what is expected today.Last nightThe US dollar rebounded above 90 overnight, while base metals saw mixed trading. SHFE copper, zinc, nickel dropped over 1%, lead edged down, while aluminium and tin inched up. LME nickel slid over 2%, copper lost close to 2%, while lead and zinc fell over 1%.China...Read More
OTTAWA (Reuters) - The Canadian economy added 15,400 jobs in February after a massive loss in January, thanks to a gain in part-time positions, and the unemployment rate dipped to 5.8 percent, Statistics Canada said on Friday.Analysts in a Reuters poll had forecast employment would increase by 20,000. Canada shed 88,000 positions in January, the most in nine years.February's gains were all in the...Read More
Mining Capital's Alastair Ford discusses the potential upcoming meeting between US President Donald Trump and the leader of North Korea Kim Jong Un.''It would be fascinating to be a fly on the wall during the actual meeting to see how they interact''''The North Koreans have been seeking a meeting with the US President for years and this is something they've always wanted ... so the idea that the T...Read More
The United States' new blanket tariff on steel imports boosted import prices for containerized scrap in Taiwan this week, leaving market participants in the wider Asia region bracing themselves for the reality of having to pay more for the steelmaking raw material.US President Donald Trump signed off on the 25% tariff on steel imports proposed by the country's Department of Commerce on Thursday Ma...Read More
A multidisciplinary and multiethnic team of scientists just published a paper in Nature where they explain the implications of having found calcium silicate perovskites contained within a tiny South African diamond.The gem was dug from the Cullinan mine, located 40 kilometres east of Pretoria, where the world's largest rough diamond was found in 1905. The mine was also the source of two of the lar...Read More
WASHINGTON/SHANGHAI (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk took to Twitter on Thursday to call on U.S. President Donald Trump to challenge China’s auto trade rules, which limit foreign ownership of Chinese ventures and impose steep tariffs on imported cars.In a series of tweets aimed at the president, Musk said he was “against import duties in general, but the current...Read More