SHANGHAI, May 2 (SMM) – Nonferrous metals rebounded on the afternoon of May 2, buoyed by ferrous metals. SHFE lead rose 1.58% and nickel gained close to 1%. Zinc inched up slightly. Copper closed nearly 1% lower while aluminium and tin edged down.The ferrous complex rose across the board. Rebar led the increase with a gain of 4.28%. Coke and coking coal grew about 4%. Hot-rolled co...Read More
He will also join the company's board on July 1 and continue to be responsible for operations.Velloza joined Gem in May 2016 after leaving his position at general manager for BHP in Australia's Pilbara region.During his 25-year career, he has also held senior operational management roles at De Beers. BHP and AngloGold Ashanti and has broad mining experience across operation in Southern and East Af...Read More
A prefeasibility study is underway for what may become the Arrow uranium mine on the south rim of the Athabasca Basin. (Image: NexGen Energy)SASKATCHEWAN - Vancouver-based NexGen Energy has concluded its 54-hole winter drilling campaign at the Arrow and Arrow South targets as well as a regional program. The targets form part of the Rook 1 uranium property in the Athabasca Basin.Follow up drilling...Read More
Mining giant Rio Tinto (ASX, LON, NYSE: RIO) plans to double its fleet of autonomous production drill rigs this year at its iron ore mines in the Pilbara region of Western Australia, where driverless trucks already haul over a quarter of both ore and waste material.Four additional drills, retrofitted with autonomous drilling system technology, were recently deployed at the company's Yandicoogina m...Read More
Prices for rebar produced and delivered in Southern Europe narrowed upwards in the week to Wednesday May 2, which reflected a slight increase in scrap prices, sources told Metal Bulletin.Market activity remained quiet, however, with public holidays in several European countries.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe narrowed upwards by ?,?5 per tonne week on...Read More
* STOXX 600 climbs 0.6 pct* Tech stocks strong after Apple results relief* Miners rise on Chinese factory data* Results drive Inmarsat , Lundin, GN Store higher* DAX boosted by euro fall, Italian stocks near 9-year high (Adds closing prices, details)By Helen ReidLONDON, May 2 (Reuters) - European shares rose on Wednesday, boosted by some strong earnings updates and a rising tech sector after resu...Read More
May 2 (Reuters) - The Perth Mint's sales of gold productsplunged about 49.3 percent in April from a month earlier, whilesilver sales dived about 53 percent, the mint said in a blogpost on its website on Wednesday.Sales of gold coins and minted bars fell to 15,161 ounces inApril from 29,883 ounces in March, the mint said. Gold sales were up about 45 percent in April compared withthe same month last...Read More
SFLY stock is set to jump over 10% todayImage-publishing specialist Shutterfly, Inc. (NASDAQ:SFLY) is set to rally after earnings today. The company reported a smaller-than-expected loss for the first quarter and revenue topped forecasts. An upwardly revised full-year outlook is also whetting investors' appetites, especially with the company saying in the earnings release that its recent acquisiti...Read More
SHANGHAI, May 2 (SMM) – Weak demand and the new, lower value-added tax (VAT) weighed down spot copper offers in Shanghai on Wednesday April 2. Spot copper with invoices for May was mostly offered at a discount of 50 yuan/mt to a premium of 20 yuan/mt over the SHFE 1805 contract. Prices fell in both the copper futures and spot market in Shanghai on the first trading day after the Labour...Read More
The overall mineral resource now stands at 14 million tonnes at 1.1% lithium oxide containing 149,300t of Li2O, with the update being the second this year and the third estimate overall.The updated resource was defined from three deposits — Grandao, Reservatorio and Noa — with the estimate at the Grandao deposit increasing around 87% to 10.3Mt at 1.1% Li2O containing 11,600t of Li...Read More
A CNN Freedom Project investigation has found that child labour is still being used to mine the mineral cobalt, a key component in lithium-ion batteries used to power electric vehicles and smartphones.CNN's Senior International Correspondent Nima Elbagir, producer Dominique van Heerdenand and photojournalist Alex Platt travelled to Kolwezi in the Democratic Republic of Congo - the epicentre of a...Read More
RAPAPORT... Lucara Diamond Corp. has appointed Naseem Lahri as the firstfemale managing director of its Boteti Mining subsidiary, which owns thehigh-value Karowe mine. "I am delighted to be welcoming Naseem into her new role asmanaging director of Boteti, the first woman and the first Motswana woman toserve in this capacity for a diamond company in Botswana," said Lucara CEO EiraThomas said Tuesda...Read More
The Turkish deep-sea scrap import market remained quiet on Wednesday May 2, after a break for public holidays in Turkey and across much of Europe on May 1, but steel mills were still expected to book more cargoes for May delivery.Turkish steel mills have booked more than 20 deep-sea cargoes for May delivery so far, and more cargoes are expected to be bought in the next few days, according to marke...Read More
JOHANNESBURG (Reuters) - A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and tuberculosis in mines said an out-of-court settlement was expected to be signed on Thursday with those gold companies implicated in the issue.The High Court in 2016 set the stage for protracted proceedings on cases dating back decades in the largest class action suit yet in Af...Read More
(IDEX Online) - cThe paper will aim to address critical banking issues such as assessment of credit limit, collateral security, related party transactions, inventory valuation, and subsidiary cguidelines, and is aimed at mitigating the concerns of the key stakeholders of the industry that has been hit by the recent Nirav Modi fraud case. The white paper, entitled 'Diamond Financing 2018 New...Read More
JOHANNESBURG (miningweekly.com) – Diamond miner Gem Diamonds has appointed COO Johnny Velloza as deputy CEO with immediate effect.Velloza will join the company’s board from July 1 and will continue to be responsible for the company’s operations.AdvertisementTo watch Creamer Media's latest video reports, click here AdvertisementRead More
The placement will include 2.5 million units at $2 each, with each unit comprising one common share and one half of a non-transferrable warrant, which are exercisable into an additional common share for a 24-month period at a price of $3 per share.The company expects to close the placement on or around June 15, subject to certain conditions.Mirasol is a project generator that aims to expand its ex...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up, highest in three months* Inmarsat jumps on Q1 results* Basic material stocks rise* Ocado shines with Swedish partnership dealBy Julien PonthusLONDON, May 2 (Reuters) - British shares traded higher on Wednesday, set for a fifth session of gains in a row as metal prices pushed basic material stocks higher and fu...Read More
RAPAPORT... Gem Diamonds has appointed Johnny Velloza deputy CEO,effective immediately, the company said Wednesday. Velloza has been the miner's chief operating officer for thepast two years. He will continue in that position, and will also join thecompany's board on June 1. Gem Diamonds owns the Let??eng mine in Lesotho, known for itshigh-value rough stones.Read More