Founding shareholder O'Rourke will leave the company on June 1, although will remain as non-executive chairman and a director on the board.Clausen will join Copper Mountain after he finishes working on the acquisition of Brio by Leagold Mining.He has more than 30 years' experience in the base and precious metals industry, most recently as CEO of Brio Gold (from 2014) and before that as CEO of...Read More
I see five reasons for (very modestly) elevated concern: (1) The tracking estimates were 3% just a month or two ago, this is a deterioration from what were expecting up until recently.Continue...Read More
Following a conciliation process between Andes Iron and Chile's Ministry of Environment, Antofagasta's First Environmental Tribunal decided to reverse a decision that forbade the Dominga copper and iron ore project from going forward.The new development means that the Environmental Assessment Commision of the central Coquimbo region now has to reassess the $2.5-billion initiative.In a press releas...Read More
Indian domestic secondary billet prices have risen by at least 600 rupees ($9) per tonne this week, with demand for semi-finished steel being strong while availability was low.Secondary billet is mainly produced in induction furnaces, and Metal Bulletin's price assessment for the product on Friday April 27 was 35,500-35,700 rupees ($531-534) per tonne ex-mill. This was an increase of 600 rupees pe...Read More
SQ is buying website builder WeeblyAhead of its first-quarter earnings report, due out after the close next Wednesday, May 2, Square Inc (NYSE:SQ) said it is buying website-building firm Weebly in a cash-and-stock deal valued at $365 million. The purchase will allow the payment processor to create a platform where small business owners can create websites and online stores. The news is being well-...Read More
Investing.com - Gold prices held steady in early morning European trade on Friday as investors looked ahead to U.S. data on first quarter economic growth.Comex gold futures slipped $0.80, or 0.06%, at $1,317.100 a troy ounce by 3:33AM ET (7:34GMT). The preliminary reading of first-quarter U.S. GDP at 8:30AM ET (12:30GMT) is expected to show the economy expanded 2.0%, down from the fourth quarter g...Read More
Canada's Cameco (TSX:CCO) (NYSE:CCJ), the world's largest publicly traded uranium producer, swung back into the black in the first three months of the year thanks to improved prices for the commodity and the company's efforts to lower costs.The Saskatchewan-based miner posted Friday net earnings of $55 million, or 14 cents per share, compared with a loss of $18 million, or 5 cents per share, in t...Read More
(Bloomberg) - Ecuadorian officials have held talks with several foreign companies about the possibility of building a copper refinery as the smallest OPEC member looks to reduce its dependence on oil, the mining minister said.Chinese and Japanese companies and Glencore Plc "could be among those interested in the project," Rebeca Illescas said Thursday. The government intends to choose companies i...Read More
The company has appointed Ian Reid to the board as a non-executive director. He is currently a non-executive director at Canadian Western Bank, Stuart Olson and Associated Engineering and Voice Construction, as well as chairman of Fountain Tire.Reid previously held several senior management positions at Caterpillar distributors and became president of Finning in Canada from 1997 until he retired i...Read More
After the excitement last week, when silver suddenly enjoyed a bear squeeze briefly pushingContinue...Read More
Stifel upgraded Facebook stock to "buy" this morningFacebook Inc (NASDAQ:FB) helped boost the broader stock market yesterday with its impressive earnings report. Shares of the social media company ended Thursday's session up more than 9% -- part of a month-long recovery since the Cambridge Analytica fallout -- and they're trading higher again today, as a number of market watchers are suggesting th...Read More
UK long steel producer British Steel remains confident about its wire rod export business despite growing protectionism in international steel markets, Richard Sims, the company's managing director for wire rod, told Metal Bulletin last week.This protectionist trend saw the European Commission (EC) start a safeguard investigation into imports of 26 steel products on March 26.This had the intention...Read More
SEOUL (Reuters) - The leaders of North and South Korea embraced on Friday after pledging to work for the “complete denuclearisation of the Korean peninsula”, on a day of smiles and handshakes at the first inter-Korean summit in more than a decade.The two Koreas announced they would work with the United States and China this year to declare an official end to the 1950s Korean War and se...Read More
BEIJING, April 27 (Reuters) - Jiangxi Copper Co, one of China's top copper producers, posted its biggest quarterly profit in 3-1/2 years on Friday thanks to higher copper prices.Net income for the first quarter of 2018 came in at 766 million yuan ($120.9 million), up 41.5 percent from a year earlier, the Nanchang-based company said in a filing to the Shanghai Stock Exchange.The result is the highe...Read More
It's easy to dismiss seasonality in the price of a tradable asset. After all, if supply and demand fluctuate regularly you'd think the resulting arbitrage would attract Continue...Read More
The AIM-listed dump leach retreatment play bought the Sasa zinc and lead mine last year as a way to diversify its revenue base.Last month, CAML announced Nick Clarke would drop the ‘executive' from his chairman title and those duties would go to CFO Nigel Robinson as the CEO. Gavin Ferrar was promoted to CFO in his place. Yelland has been at Shanta since 2015 and was promoted from...Read More
The light iron scrap market in the UK was steady for a third week on Friday April 27, with business sufficiently active to support current prices, Metal Bulletin has heard.But lower export prices to major overseas buyers of European scrap such as Turkey may undermine the UK market in the near future.Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis w...Read More
MSFT stock popped higher as analysts cheered major growth in cloud services revenueSoftware giant Microsoft Corporation (NASDAQ:MSFT) is on the upswing this morning as Wall Street cheers a fiscal third-quarter profit and revenue beat. The tech company's robust results were driven by strong enterprise demand for its Office 365 productivity suite and its Azure cloud service, with the latter generati...Read More
NEW YORK (Reuters) - The U.S. government may start scrutinizing informal partnerships between American and Chinese companies in the field of artificial intelligence, threatening practices that have long been considered garden variety development work for technology companies, sources familiar with the discussions said.So far, U.S. government reviews for national security and other concerns have be...Read More
Canada's Lucara Diamond (TSX:LUC) announced today the recovery of another big diamond from its 100% owned Karowe Mine located in Botswana.The rock weighed 327 carats and it is a top white gem diamond. According to the miner, eight diamonds greater than 100 carats have now been recovered at Karowe since the beginning of the year. This includes the 472-carat diamond found earlier this month, which w...Read More