Selenium prices surged last week in Europe, reaching their highest level since February 2015 on continued material tightness and healthy Asian demand.Metal Bulletin assessed selenium free market in-warehouse prices at $22-24.5 per lb on Friday March 16, steady on Wednesday's assessment when the quotation rose by 6.9% to a level last seen in February 2015. "It's the perfect storm - India's hea...Read More
AbraPlata Resource Corp. (TSXV: ABRA) has tabled a positive preliminary economic assessment (PEA) on its 80 sq. km Diablillos silver-gold project in Argentina's Salta Province, 150 km southwest from the city of Salta.The PEA features strong economics, with an after-tax net present value (NPV) of US$197 million at a 7.5% discount rate, an after-tax internal rate of return of 30.2%, and a 3-year pay...Read More
Mining companies operating in South Africa, including Anglo American (LON:AAL) and Sibanye Gold (JSE:SGL) (NYSE:SBGL), may soon have to increase their black-owned stakes to 30%, from a previous 26%, but the government is promising to deliver "policy certainty" in return.Newly appointed Minister of Mineral Resources Gwede Mantashe said the key to regain investors and miners confidence in the South...Read More
A loan of $4,800 helped a member to buy more beans, cassava, and maize flour for sale.Read full newsRead More
Wealth Minerals strikes agreement over Chile lithium projectsRead full newsRead More
Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerates faster than even optimistic forecasts had speculated. "Cobalt 27 is a proxy for the adoption of the EV," executive chairperson Anthony Milewski told Mining Weekly Online in an interview. "What our most recent raise tells one is that the thematic is picking up...Read More
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We recognize that we can’t predict the price of gold. Rather, we view gold mining companies the same way we look at any extractive industry:Read full newsRead More
Almost half of Canada's marijuana firms started out in the resource sector before many converted to pot via reverse takeovers and spinoffsRead full newsRead More
Plattsburgh, NY voted to place an 18-month moratorium on new commercial cryptocurrency mines in the city on Thursday. Here's why, and what comes next for cities that have had a Bitcoin gold rush.Read full newsRead More
The gold price is up just 1% year to date in 2018 and has advanced 5.5% from the December 2017 low. There are some bullish signs from the chart, including a number of higher highs and higher lows following the late 2015 bottom at $1,045. But it certainly hasn't been the powerful breakout the gold bugs have been hoping to see.The late 2017 spike above the resistance trend line was also bullish, but...Read More
The likes of Glencore, Randgold, Zijin, China Moly and Ivanhoe appear to have been blindsided by Congo's determination to push through a new mining code that substantially increases the cost of doing business in the central African nation.Lobbying of President Joseph Kabila (who insisted that the CEOs personally show up in Kinshasa for talks) that lasted six hours ended with no concessions other t...Read More
KINSHASA, March 20 (Reuters) - Democratic Republic of Congo said on Tuesday it would open negotiations with mining companies on Wednesday about implementing a new mining code that hikes taxes and royalties.President Joseph Kabila signed the new code, which replaces a predecessor from 2002, earlier this month despite strong objections from industry, which said it would scare off investment and viol...Read More
(Bloomberg) - Zambia's tax agency plans to conduct audits on mining companies in the country running back six years after uncovering 76.5 billion kwacha ($7.9 billion) of underpayment by a "prominent" miner.The Zambia Revenue Authority may extend the period of the audit should it find a pattern of "consistent, systematic, premeditated" tax evasion, it said in a statement."We are announcing the pr...Read More
LUSAKA, March 20 (Reuters) - Zambia expects to produce more than one million tonnes of copper this year after revising its 2017 copper production upwards on the back of stabe power supply, a senior ministry of mines official said on Tuesday.Rising copper prices were also expected to boost revenue collection in Africa's No.2 producer of the metal, which ranks exports of the metal as its biggest exp...Read More
The auto industry is "waking up too late" to the fact that China will hold most of the world's supply of battery raw material cobalt, Ivan Glasenberg, CEO of top producer of the metal Glencore, said on Tuesday according to a Reuters report."If cobalt falls into the hands of the Chinese, yeah you won't see EVs being produced in Europe etc. They are waking up too late ... I think it's because the ca...Read More
SANTIAGO, March 20 (Reuters) - Workers at Antofagasta PLC's Los Pelambres copper mine in Chile have opted to extend a period of government mediation in an effort to reach agreement on a new labor contract, an industry group said on Tuesday.Workers in the mine's largest union last week rejected an offer for a new labor contract, triggering a period of government mediation and paving the way for an...Read More
* MSCI all-country index flat ahead of 1800 GMT Fed announcement* Fed seen raising rates, markets see risk of four hikes in 2018* Tech sector woes weigh on sentiment on Facebook troubles* Dollar eases off three-week high (Updates throughout, changes dateline, byline, adds quotes)By Sujata RaoLONDON, March 21 (Reuters) - World shares were flat on Wednesday and the dollar eased off three-week highs...Read More
(Recasts with analyst comment)By Nicole Mordant and Chris MfulaVANCOUVER/LUSAKA, March 20 (Reuters) - First Quantum Minerals FM.TO said on Tuesday that Zambia's tax agency had slapped it with 76.5 billion Zambian kwacha ($8.04 billion) bill for unpaid import duties, a potentially huge blow for the Canadian miner that earns most its profit in the southern African country.First Quantum, which owns t...Read More
* Same geology as prolific oil basins in China* Mongolia will need crude for planned refineryBy Barbara LewisLONDON, March 20 (Reuters) - Petro Matad MATD.L plans to drill four wells this year in Mongolia, which it said is one of the last onshore frontiers for oil exploration and is seeking to curb dependency on Russian imports of refined products.Landlocked Mongolia, sandwiched between Russia and...Read More