* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVh* European shares dip* Dollar nurses losses after Fed decision* Pound slips after BoE keeps rates on hold* Euro steady after ECB keeps rates on hold* Stronger than expected German, euro zone PMIsBy Ritvik CarvalhoLONDON, Dec 14 (Reuters) - World shares eked out modest gains on Thursday as cautious comments on inflation from the U.S. Federal...Read More
* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVh* European shares dip* Dollar nurses losses after Fed decision* Pound, euro, await BoE, ECB* Stronger than expected German, euro zone PMIsBy Ritvik CarvalhoLONDON, Dec 14 (Reuters) - European shares and the euro dipped on Thursday as cautious comments on inflation from the U.S. Federal Reserve gave investors pause before a series of central...Read More
SHANGHAI, Mar 21 (SMM) – Nonferrous metals were weak today with SHFE zinc leading the loss with a drop of 1.7%. Copper fell 1.5% while aluminium, nickel, and tin edged down. Lead slumped near closing and closed flat from Tuesday March 20.The ferrous complex saw mixed trading today. Iron ore gained nearly 1%, while coke and coking coal inched up. Hot-rolled coil dropped over 2% and rebar dipp...Read More
SHANGHAI, Mar 21 (SMM) – Prices of prebaked anode will continue to tumble as supply grows after production restrictions are lifted at the end of the heating season, SMM believed. SMM sees downward room in prices, which have declined for three consecutive months. According to SMM, profit margins could be significant if current cash costs for prebaked anode are capped ...Read More
SHANGHAI, Mar 21 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightDriven by bullish sentiment on the US economy and an expected hike in interest rates, the US dollar rebounded to 90. Weak economic data for the eurozone also bolstered the greenback.However, nonferrous metals fell across the board under pressure from the strong dollar. LME...Read More
SHANGHAI, Mar 21 (SMM) –Copper: Copper prices remained under pressure given high inventories and worries of a potential trade war. We expect LME copper to fall to the $6,700/mt level in the short term but with upward momentum in the mid and long term. We see it trading at $6,730-6,790/mt today, with the SHFE 1805contract trading at 50,500-51,000 yuan/mt. In the physical market, dow...Read More
The Contact deposit has 8.2 million tonnes grading 3.1g/t for 811,000 ounces, including an indicated 4.4Mt at 3.6g/t for 510,000oz. Contact is one of three deposits at the project with total resources of 33Mt at 2.1g/t for 2.2 million ounces.A scoping study is said to be pending, while four rigs are drilling at the project.Also imminent is an update from the company with regards its strategic ambi...Read More
Aguia said official hearings on the environmental impact assessment for the project were "anticipated to occur in the next three to four months", after which the company expected to be "granted the preliminary licence".Assuming that all goes to plan - and the EIA is the final regulatory requirement ahead of development - Aguia needs to find about US$84 million to build and start operating a projec...Read More
The first hole of 13 planned at Secret Pass as part of a 15,000m drilling programme intersected 70.07m at 1.79g/t gold from 152.86m."Exploration potential in this area is excellent and Northern Empire's recent acquisition of the Rosie claims, directly south of Secret Pass deposit, gives our team access to highly prospective drill targets," president and CEO Michael Allen said.Secret Pass is a past...Read More
Metminco's Australia-listed shares have, as expected, more than halved, one of its key investors has ceased to become a "substantial holder" and - in a related move - director Ram Venkat has departed.Read More
Acclaimed as one of Britain's leading developers of mineral processing science, Rotherham-based Metalysis is commercialising a technology invented at Cambridge University that uses an electrolytic process to reduce metal oxides and ores into pure metal and alloys.Read More
Western Australia iron ore asset president Edgar Basto said the company's South Flank iron ore project was scheduled to be submitted for board approval mid-year and if approved, Mining Area C would become the world's largest stand-alone iron ore mining and processing centre.Fellow diversified major Rio Tinto (LN:RIO) closed up 1.3% in London yesterday after announcing a debt reduction programme an...Read More
"In the last five years, we've seen global wind-generated capacity more than double, solar PV capacity more than quadruple and EV sales grow at 59% per annum," she said at the CRU Metals in the Future 2018 conference on Tuesday.Read More
Darryn Quayle, the UK Department for International Trade Infrastructure group's mining specialist, said at the CRU Metals in the Future 2018 conference this week that miners needed to do things differently to get communities on board right from the start of any project, as well as redress what has been done in the past.Read More
The Mauritius-headquartered company's 2017 after-tax profit of US$5.2 million compared with a $4.8 million net loss for the previous 12 months.Read More
The mining consultancy and advisory group has appointed Broadfoot as CEO as it looks to further expand its service offering.Broadfoot has an impressive CV, having worked at Anglo American (LN:AAL), Rio Tinto (LN:RIO) and New York-based corporate advisory firm EAS Capital Advisory.He was also co-founder and CEO of mining services provider Salva Resources, a company sold to US engineering firm HDR w...Read More
Eco Oro said it had invested more than $250 million to develop the project, in the mountains about 400km north-east of the capital Bogota, which contained a measured and indicated resource of 2.21 million ounces of gold at 4.57g/t.Read More
Reports started circulating yesterday that the ZRA had issued an assessment to a prominent mining company, with Jefferies analyst Christopher LaFemina noting it was a "new significant risk" if First Quantum was the miner in question.First Quantum shares were halted by IIROC yesterday after falling more than 12% to C$18.The ZRA has reportedly said items were misclassified as mining machinery which...Read More
Mali's economy minister Boubou Cisse was recently reported as telling a joint news conference with the International Monetary Fund that the government would negotiate with mining companies to draft a new code - but would implement a unilateral decision like the Democratic Republic of Congo if talks didn't work out."Government officials have advised the company that the minister's comments were tak...Read More