Focus in on retaliation measures after Trump's tariff. Traders have ignored the exceptional US February nonfarm payroll numbers. Global stock markets are expected to rise. Sentiment for the US dollar is still weak. Now the focus will be on the FOMC meet. The pace of interest rate hikes is the key and not the actual hike. An early Easter (in March) does have temporary economic implications. I b...Read More
BERLIN (Reuters) - Germany and its European Union partners must act quickly to find common ground on a European investment budget, German Chancellor Angela Merkel said on Monday, before signing an agreement on her new coalition government.German Chancellor and leader of the Christian Democratic Union (CDU) Angela Merkel, leader of the Christian Social Union (CSU) Horst Seehofer and leader of the S...Read More
LONDON (Reuters) - World stocks surged to a two-week high on Monday after strong U.S. jobs data at the end of last week helped take the edge off investors' concerns about the potential outbreak of trade war between the United States and other major economies.European shares shot up across the board, following their Asian counterparts, while emerging market currencies strengthened as investors boug...Read More
Shares in Newcrest Mining fell more 4.6 per cent Monday after the miner declared that its performance for fiscal 2018 will be definitely affected by the breach of a tailings dam wall at its Cadia gold mine."Whilst it is too early in the evaluation and recovery process for Newcrest to provide an indication of the extent to which FY18 production, capital and cost guidance will be impacted, this even...Read More
(Reuters) - DowDuPont Inc chief Andrew Liveris will step down on April 1, making good on an earlier promise to retire as the company named existing managers to head its materials science unit when it is spun off as Dow next year.Jim Fitterling, currently chief operating officer of the materials science unit, will become its chief executive under the Dow brand in a spin-off planned for the first qu...Read More
On Monday copper for delivery in May declined nearly 1% on the Comex market in New York at $3.1095 per pound or $6,855 a tonne amid a general weakness on commodity and financial markets gripped by uncertainty surrounding the Trump administration's trade policies and the strength of demand from China, the globe's number one metals consumer.That's a 2.4 billion pound or $7.6 billion decline from rec...Read More
SHANGHAI, Mar 12 (SMM) – Nonferrous metals mostly gained today, as SHFE nickel led the increases with a rise of 3%. SHFE copper rose close to 1%. Zinc, tin, and lead inched up. Aluminium dropped over 1%.The ferrous complex continue to fall across the board as coke and coking coal led the slump and closed 4% lower. Iron ore dropped nearly 3%, rebar slipped almost 1%, and hot-rolled...Read More
BELGRADE, March 12 (Reuters) - China's Zijin Mining Group Co. Ltd. has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade.President Aleksandar Vucic on Monday met representatives of the Chinese firm, who expressed an intention to invest several hundred million dollars in the business, his office said...Read More
Rock sampling at the Double Event prospect owned by Papua Mining PLC (LON: PML) has delivered high grade gold results.Chief executive David Price says approximately 25% of all rock samples returned assays at above 10 grams per tonne gold.Papua's now planning a reverse circulation drilling campaign to follow up on this work. Meet AusCann Group Holdings Ltd, Pacific American Coal Ltd, Kasbah R...Read More
The US mining industry is asking the Supreme Court to revoke an Obama-era rule banning the mining of uranium on public lands nearby the Grand Canyon.The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) filed petitions on Friday asking the court to reverse the 2012 ban implemented by the previous administration as uranium prices soared and a flurry of n...Read More
SHANGHAI, Mar 12 (SMM) – Spot copper in the Shanghai market traded at a discount of 40 yuan/mt to a premium of 20 yuan/mt today. The afternoon saw more active trading of lower-grade copper as downstream consumers restocked. Prices stood at a discount of 140-120 yuan/mt.At noon, higher-grade copper traded at 51,520-51,620 yuan/mt, SMM learned. For editorial queries, please cont...Read More
Francois Martelet, chief executive of NetScientific PLC (LON:NSCI), tells Proactive's Andrew Scott they're starting 2018 in a very strong position.''Out of our five companies, three of them are at an early commercial stage''.As far the broader strategic plan for 2018, he says the main focus is to continue helping the current portfolio to mature'We're also looking at having new investors and the se...Read More
Rosatom announced on Monday that the Russia-China Investment Fund for Regional Development will kickstart the financing for a uranium mining project in Russia's Zabaikalsky Territory.Zabaikalsky is located in the southeastern region of Transbaikalia and has a 998-kilometre border with China and a 868-kilometre border with Mongolia. According to state-owned website Sputnik, the agreement was signed...Read More
There's a strange thing about the fear going through the global mining industry after the Democratic Republic of Congo signed an order to lift royalties last week: Compared with most other countries, these levies are still relatively low.The existing 2 percent rate on copper extraction compares with royalties five times that level in Chile and Peru, the two biggest producers.Even at the new 3.5...Read More
The US mining industry is asking the Supreme Court to revoke an Obama-era rule banning the mining of uranium on public lands nearby the Grand Canyon.The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) filed petitions on Friday asking the court to reverse the 2012 ban implemented by the previous administration as uranium prices soared and a flurry of n...Read More
Mick Billing, executive chairman at Thor Mining PLC (ASX:THR), (LON:THR) tells Proactive's Andrew Scott they've decided to focus solely on their tungsten and copper interests in Australia and the US - Pilot Mountain, Molyhil and Kapunda.Thor has around ?1.6mln of cash in the bank which he reckons will be enough working capital to carry out their planned activities into 2019. Meet AusCann Gr...Read More
SHANGHAI, Mar 12 (SMM) – China's industry for new energy cars is likely to see faster growth, supported by new targets in the 2018 government work report, said chairman of the Beijing Automobile Group, Xu Heyi.The report highlighted that promoting new energy vehicles is part of China's drive to become a globally competitive manufacturing nation.A power network for...Read More
RAPAPORT... The Kimberley Process (KP) has entered a two-year review of itsoperations, enabling the organization to evaluate current needs and improve theway it tackles issues. The European Union, the KP's chair for 2018 under theleadership of Hilde Hardeman, is overseeing the assessment, the World DiamondCouncil (WDC) said in a statement last week. "The threat of instability and conflict remains...Read More
FTSE 100 closes lowerInvestors weigh better-than-expected US jobs reportGKN reviews revised Melrose bidJust Eat slumps on broker downgrade FTSE 100 couldn't hold onto early gains and finished in the red, as sterling firmed.Britain's blue-chip benchmark closed down over nine points, or 0.13% to 7,214.FTSE 250 however fared better, gaining around 32 points at 20,117.Against the Euro, the...Read More