The dividend of Rb147.12, or US$2.35, per ordinary share was recommended by the board of directors and is subject to shareholder approval at an annual general meeting on May 31.The dividend record date will be June 10 and will bring the total pay-out for 2017 to US$550 million, including the $239 million paid out in October for the first half of the year.Polyus' current dividend policy requires a&...Read More
Global ferrous scrap prices were mostly going down during the working week ended Friday April 27 due to thinner trading and weaker demand.A public holiday in Turkey reduced the demand for bulk cargoes, while a slight pickup in daily prices toward the end of the week did not boost week-on-week price changes. The weak bulk export sales in the United States added downward pressure to bulk prices, com...Read More
* Aluminium falls as supply fears abate * LME/ShFE arb:* GRAPHIC-2018 asset returns: (Updates with closing prices)By Jan HarveyLONDON, April 27 (Reuters) - Aluminium fell on Friday aftersources said sanctions-hit Russian producer Rusal willoverhaul its management structure to restore shipments, furtherdampening fears of a supply shortfall.The metal was set for its biggest weekly drop in seven year...Read More
SHANGHAI, Apr 27 (SMM) – Nonferrous metals rebounded for the most part except for copper. SHFE nickel led the gains with a rise of over 1.3%, lead went up nearly 1%, while tin, aluminium, and zinc inched up. The ferrous complex saw mixed trading with slower rates of decline. Iron ore, coking coal, and coke dipped over 1%. Hot-rolled coil and rebar closed nearly 1% higher....Read More
The assets include the operating Valunisty gold mine and 31,000 ounce per annum processing plant and two large licence areas, Kanchalano-Amguemskaya Square (KAS) and Kayenmivaam.At January 1, the JORC proven and probable ore reserves of Valunisty and KAS were 3.4 million tonnes at 5.1g/t gold equivalent and their indicated and inferred mineral resources were 17.6Mt at 3g/t Au equivalent. &nb...Read More
Prices for containerized shredded scrap imported into India were stable this week with buyers returning to the market following a lull in activity, sources told Metal Bulletin on Friday April 27.Metal Bulletin's weekly index for containerized imports of shredded scrap into India was largely unchanged this week at $385.15 per tonne cfr Nhava Sheva on April 25, down by $0.29 week-on-week, compared w...Read More
- Gold mining shares require timing and are speculative- Gold mining: "maximising risk, while minimising reward"- Gold mining is increasingly complicated, difficult & much riskier- Easier, more cost efficient and safer to buy physical gold than mining stocks- "If your strategy is buy and hold, or buy and forget, go for the metal, not the miners"- Owning allocated and segregated gold is a hedge...Read More
(Adds details, quotes, context)MOSCOW, April 27 (Reuters) - Russia’s Rusal will be forced to quit the global aluminium market and focus on domestic consumers if the U.S. does not lift sanctions once an independent board is in place, a source familiar with the matter said.Washington this month imposed sanctions on billionaire Oleg Deripaska and several companies in which he is a large shareho...Read More
The company had previously assessed the overall potential contribution to the company's performance, looking at project financing, joint venture and disposal opportunities, and decided that the disposal was the best option for shareholders.It only started commercial production at Choco in mid-August last year."Bezant will now pursue a strategy focussed on building value from its copper-gold assets...Read More
The Mint Corporation (TSXV:MIT) intends to offer the blockchain-powered remittance solution to further deepen its relationship with licensed exchange house partners in the United Arab Emirates (UAE)SmallCapPower | April 25, 2018: The Mint Corporation (TSXV:MIT) announced on April 25, 2018, that its subsidiary, Mint Block Corp., is engaged in advanced discussions with a leading blockchain-powered p...Read More
Chinese authorities intervened this week in favour of Tianqi's attempt to grab a 32% interest in Chile's Chemical and Mining Society (SQM), the world's second largest lithium producer, saying that any efforts to block the $5 billion deal could "leave negative influences."According to Chilean newspaper El Mercurio (in Spanish), Chinese Ambassador Xu Bu openly condemned the move by the country's d...Read More
Export prices for Brazilian steel slab widened downward this week with prices in the United States market differing from those in other buying destinations because of negotiations for exemptions to the Section 232 import tariffs.Metal Bulletin's weekly assessment of Brazil's slab export prices fell to $560-600 per tonne fob on Friday April 27, compared with $600-610 per tonne fob a week before.Lat...Read More
TOKYO (Reuters) - Japan’s central bank kept policy unchanged on Friday but ditched a timeframe it had set for hitting its inflation target, in a surprise move analysts say is aimed at keeping market expectations for more stimulus in check.Bank of Japan Governor Haruhiko Kuroda warned of downside risks clouding the price outlook, such as companies’ reluctance to raise wages, underscorin...Read More
Harvey Nash PLC (LON:HVN) CEO Albert Ellis and CFO Mark Garratt discuss with Proactive Investors the group's preliminary results for the year to the end of January 2018.Ellis describes the performance in the UK as outstanding given the the uncertainty sparked by Brexit.Outside of London, business was strong across the board but especially in financial services.London was mixed, with buoyant demand...Read More
Although the dollar traded fractionally lower on the day, it is the highs achieved today along with the inability to sustain those new price highs that created a single day candlestick known as a shooting star. This candlestick is a member of the umbrella group of patterns, which contain the hammer, hangman, inverted hammer, and shooting star. The hammer and hangman, as well as the shooting star a...Read More
The copper producer plans to invest US$6.7 billion developing the Tia Maria, Los Chancas and Michiquillay projects which would together add 500,000 tonnes a year of annual capacity. Last year, the company's Cuajone and Toquepala mines produced 281,000 tonnes of copper in concentrate.Read More
SHANGHAI, Apr 27 (SMM) – Tongling Nonferrous Metals reported net profits of 203 million yuan for the first quarter of this year, up 40.5% year on year, according to its earnings report on Thursday April 26. This compared with an average growth of 98.4% for the nonferrous smelting and processing industry.The company’s revenue amounted to 17.74 billion yuan during the three-month p...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
Patrick Cheetham, executive chairman of Sunrise Resources Plc (LON:SRES), tells Proactive's Andrew Scott they've signed a non-binding memorandum of understanding (MOU) that will pave the way for the first sales of perlite from its CS Pozzolan-Perlite project in Nevada, USA.Cheetham says under the terms of the MOU the parties would negotiate a purchase and sales agreement to sell/buy a minimum quan...Read More