* LME/ShFE arb:* GRAPHIC-2018 asset returns: (Adds closing prices)By Maytaal AngelLONDON, April 24 (Reuters) - Aluminium hit its lowest innearly two weeks on Tuesday, extending declines from theprevious day after Washington gave U.S. companies more time tocomply with sanctions on Russian producer Rusal andhinted at further sanctions relief.The U.S. Treasury Department gave Americans until Oct. 23,...Read More
JOHANNESBURG (miningweekly.com) – The make-up of production at diamond miner Petra Diamonds is transforming, with higher-value run-of-mine (RoM) production having represented about 82% of the company’s carat volume during the quarter ended March 31.This, the company said on Monday, was in line with the company’s focus on value rather than volume production.AdvertisementPetra&rsqu...Read More
SHANGHAI, Apr 24 (SMM) – Nonferrous metals fell across the board on Tuesday April 24, as SHFE aluminium led with a loss of 3.69%. SHFE nickel and tin dropped over 1%, copper and lead edged down slightly while zinc dipped.The ferrous complex notched a strong performance except for iron ore. Coking coal and coke rose over 2%, rebar went up over 1% and hot-rolled coil gained 0.77%.Cop...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
Chinese vanadium exporters lowered their offer prices over the past week due to the weakened Chinese domestic market and a lack of interest from foreign buyers. Meanwhile, the European and US markets continued their slide. Chinese export prices slide on softer domestic prices, limited foreign buyer interestEuropean ferro-vanadium prices continue to suffer from profit-taking US ferro-vanadium marke...Read More
Freeport-McMoRan Inc reported a weaker-than-expected quarterly profit on Tuesday, sending its shares down more than four percent as it also lowered its copper sales forecast for the year and raised its outlook for costs.The world's biggest listed copper miner said it now expects to produce 3.8 billion pounds of copper this year, down from a previous forecast of 3.9 billion.It raised its copper cas...Read More
The company said in its quarterly production report that extraction at its mines had been impacted by the existence of barren rock zones in the areas of the deposits being mined.Read More
RAPAPORT... De Beers' production grew during the first quarter as the company reached full capacity at its Gahcho Ku?(C) mine in Canadaand increased output in Botswana in response to a strong market. The miner's global production jumped 15% year on year to 8.5million carats during the period ending March 31, parent company Anglo American reportedTuesday. Rough-diamond recovery in Canada soared 69%...Read More
MOSCOW (Reuters) - Moscow is “cautious” about the possibility of Washington easing its sanctions on Russia’s biggest aluminum producer Rusal, Kremlin spokesman Dmitry Peskov said on Tuesday.The United States on Monday gave Rusal’s American customers more time to comply with sanctions.“In this case I would be rather cautious, as these statements are so hypothetical. It...Read More
(Adds company news item,futures)April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 10 points higher at 7,409 on Tuesday, according to financial bookmakers,with futures FFIc1 up 0.10 percent ahead of the cash market open.* ANGLO AMERICAN: Anglo American AAL.L said it expected iron ore operations at Minas-Rio in Brazil, closed because of pipeline leaks, to ramp up in the fourth qu...Read More
SHANGHAI, Apr 24 (SMM)? 1/4 ? Read More
Martin Eales, chief executive of Rainbow Rare Earths Ltd (LON:RBW), tells Proactive Investors they produced 279 tonnes of rare earths concentrate from the Gakara project in Burundi during the three months to 31 March.The grade per tonne of concentrate produced rang in at a huge 62% total rare earth oxides, and the realised price per tonne of concentrate sold was US$2,357. Meet Peninsula Mine...Read More
Anglo American (LON:AAL) won't resume production at its massive Minas Rio in Brazil until the fourth quarter of 2018 due to two pipeline leaks that forced it to halt operations in March, and which will cause the miner an annual group earnings (EBITDA) loss of $300 to $400 million.The announcement is the last of a string of difficulties Anglo has faced with the mine, which was expected to produce...Read More
Anglo American (LON:AAL) won't resume production at its massive Minas Rio in Brazil until the fourth quarter of 2018 due to two pipeline leaks that forced it to halt operations in March, and which will cause the miner an annual group earnings (EBITDA) loss of $300 to $400 million.The announcement is the last of a string of difficulties Anglo has faced with the mine, which was expected to produce...Read More
RAPAPORT... A 3.09-carat blue diamond smashed its pre-sale estimate atChristie's Magnificent Jewels auction in New York last week. Therectangular-cut, fancy intense blue diamond ring, surrounded by taperedbaguette-cut diamonds on either side, sold for $5.4 million. Its originalestimate was $2 million to $3 million. A similar 3.47-carat ring sold atSotheby's New York Magnificent Jewels auction the...Read More
Iron ore production from Minas-Rio fell 30% on the year to 3 million tonnes in the March quarter, with full-year guidance revised down to this level from the previous 13-15Mt, as no material production was expected for the remainder of the year.Read More
* M2 growth to grow 9 pct this year - MNI* M2 grew 8.2 pct last year* PBOC cut reserve requirement ratios for most banks last week (Adds context)BEIJING, April 24 (Reuters) - China will further cut the amount of cash that lenders must keep in reserves, and broad M2 money supply growth will accelerate this year, Market News International reported on Tuesday, citing a source close to the central ban...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 10 points higher at 7,409 on Tuesday, according to financial bookmakers.* GLENCORE: Shares in Glencore-owned GLEN.L Katanga Mining Ltd KAT.TO lost half of their value on Monday and cobalt markets were on alert after the company said the Democratic Republic of Congo's (DRC) state-owned mining company had taken steps to dissolve its...Read More