The company said the board had extended the closing due to the imminent publication of the Tulkubash oxide resource project's feasibility study results later this month, which would give a comprehensive update on the project, including capital and operating costs.It did not give a closing date, after previously giving March 30 as the deadline.In December, the company had decided to raise US$20 mil...Read More
NEW YORK (Reuters) - The dollar fell against the yen and Swiss franc on Wednesday after China retaliated against the Trump administration’s plan to slap tariffs on Chinese goods, proposing a list of similar duties on a wide range of U.S. imports.In the midst of the U.S.-China trade tension, the dollar has weakened in four of the last five sessions against the yen, down nearly 6 percent so fa...Read More
SHANGHAI, Apr 4 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar inched up and stood firmly above 90 as US stocks rebounded and as the euro edged down.SHFE metals fell across the board, except for copper and nickel, with zinc down close to 1%. Most LME metals gained, with nickel up close to 1%. LME copper touc...Read More
The US high-carbon ferro-manganese market weakened on Thursday March 29, as latent spot market demand and ample supplies wore on pricing. American Metal Market assessed spot prices for high-carbon ferro-manganese in-warehouse Pittsburg at $1,500-1,600 per long ton on Thursday, down 3.1% from $1,550-1,650 per long ton previously. The market has been bogged down by lackluster spot activity in r...Read More
On Wednesday gold capitalized on the dramatic drop in US equities, briefly piercing the $1,350 an ounce level only to end the day at breakeven as stock markets staged a remarkable recovery.Year to date gold has gained just under 4% as the metal extends a bull run in place since end-2015. Gold bottomed at a whisker under $1,050 after a four-year slide from all-time highs in 2011 above $1,900.While...Read More
Via an unconventional deal that involves a C$2.6 million (US$2.03 million) investment in new Loncor shares plus a ‘share swap' of $2.5 million worth of Resolute shares for 25 million Loncor shares owned by Loncor founder Arnold Kondrat, the ASX miner has added to a portfolio that already includes a 27% stake in DRC gold explorer Kilo Goldmines (CN:KGL).Read More
JOHANNESBURG (Reuters) - South African police said on Wednesday that five people had been arrested in connection with a petrol bomb attack on a bus that killed six workers on their way to the Modikwa platinum mine earlier this week.The platinum belt has been a flashpoint of violence rooted in community grievances over jobs, revenue flows and conflict between rival unions that threatens production...Read More
China's domestic stainless steel prices fell again this week as high supply and weak demand continued to put pressure on the market.Metal Bulletin's assessment of prices for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,000-14,800 yuan ($2,226-2,353) per tonne including VAT for the week ended Wednesday April 4, down 200-300 yuan per tonne from last Thursday. Buying in...Read More
SHANGHAI, Apr 4 (SMM) –Copper: The US dollar index climbed up and depressed copper prices following a release by the US of $50 billion of imports from China that could be subject to sweeping tariffs. LME copper moved around the daily moving averages and hit the 20-day moving average, while its SHFE counterpart performed similarly with a narrower trading range. SMM remains bullish...Read More
How the market has performed after this closely watched trendline is violatedAfter Monday's stock sell-off, the S&P 500 Index (SPX) closed below its 200-day moving average for the first time since June 2016. Going all the way back to 1929, it's just the 19th time the index spent over a year above that trendline. It's a widely followed moving average, so bulls will tout the dip as a buying opportun...Read More
(Kitco News) - Bitcoin is likely to mean-revert towards January 2017 levels of around $900, paving the way for precious metals like silver to prosper, according to research from Bloomberg Intelligence (BI). In a recent webinar, Mike McGlone, senior analyst at BI said that he remains bullish on blockchain technology, but the digital currency market appears to be overvalued. He added that the specul...Read More
Copper prices have gained around 36% over the past 18 months turning mines that were once loss-making into profit generators.Read More
NEW YORK (Reuters) - U.S. President Donald Trump’s recent tariffs and retaliation from other nations, in particular China, may reduce domestic economic growth by 0.1 to 0.2 percentage point over the next 12 months, Moody’s Analytics’ chief economist Mark Zandi said on Wednesday.“It will put a dent in that growth,” Zandi told reporters on a conference call. “The...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Thursday March 29Ferro-vanad...Read More
SMM offices will be closed from Thursday April 5 to Friday April 6 for the Qingming Festival holiday. There will be no news publication during this period. For queries, please contact Daisy Tseng at daisy@smm.cn Read More
SMM offices will be closed from Thursday April 5 to Friday April 6 for the Qingming Festival holiday. There will be no news publication during this period. For queries, please contact Daisy Tseng at daisy@smm.cn Read More
(Kitco News) - The Australian government said it will invest $50 million to fund mining research, with a focus on tackling any potential future challenges the industry might face.The announcement was made by the Minister for Resources and Northern Australia Matt Canavan and Assistant Minister for Science, Jobs and Innovation Zed Seselja.The funding will be available through the Cooperative Researc...Read More
SMM offices will be closed from Thursday April 5 to Friday April 6 for the Qingming Festival holiday. There will be no news publication during this period. For queries, please contact Daisy Tseng at daisy@smm.cn Read More
(Reuters) - As equity markets show increasing fragility, investors are looking for any sign that selling pressure will wane. Some of those markers could be found in the charts favored by technical analysts - although they suggest investors still face considerable risk. With the S&P 500 .SPX closing on Monday below its 200-Day Moving Average for the first time since the June 2016 Brexit pa...Read More
Benchmark Mineral Intelligence recently hired Andy Leyland from Wood Mackenzie to look at the long term, so Mining Journal asked him how far into the future the themes of early 2018 would continue.Read More