Kazakh uranium producer NAC Kazatomprom has made its first delivery to London-based Yellow Cake plc under a long-term contract between the two companies. The sale follows Yellow Cake's floatation on the London Stock Exchange's AIM market and represents more than a quarter of Kazatomprom's 2018 uranium production.Yellow Cake was founded by Bacchus Capital as a specialist company to operate in the u...Read More
The Bangladesh Atomic Energy Commission (BAEC) has formally received a design and construction licence for Rooppur unit 2. It received an equivalent licence for unit 1 in November last year and construction work started on that unit soon afterwards. The licence for Rooppur unit 2 has been issued (Image: Rosatom)ASE Group, the engineering subsidiary of Russia's Rosatom, announced issuance of the l...Read More
Base metals on the London Metal Exchange made a notable recovery from recent lulls at the close of trading on Monday July 9, led by a 1.9% price surge in nickel and aluminium prices. Edging back over $14,000 per tonne throughout the day, nickel prices reached a daily high of $14,240 per tonne after closing at their lowest point since May 10 on Friday.The metal experienced a sharp sell-off last wee...Read More
Juli??n Gonzalez has left his position as global head of refined zinc and lead trading at Trafigura, being replaced by Kyen Resources' European chief Matt Hadfield who will start next week, sources close to the company told Metal Bulletin. Gonzalez started in a junior-middle office role at Trafigura in 2009 and worked his way through the ranks to head up the key position. Hadfield will be re-...Read More
On a recent site visit to Ecuador, PI Financial analysts Chris Thompson and Gary Sidhu saw the importance of being a first mover in an emerging district ripe for discovery. The four mining companies visited were INV Metals Inc., Lundin Gold Inc., Lumina Gold Corp. and SolGold PLC. All have amassed large and strategically important land packages.The price of gold has fallen, prompted by fading geop...Read More
Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More
Metal Bulletin presents a timeline of key dates and events related to the manganese flake rally this year and the reasons behind the moves.Manganese flake prices are now trading at levels last seen in July 2012 amid ongoing production curtailments at major Chinese producer Ningxia Tianyuan, with the impact now spreading into the ferro-chrome and selenium markets. Metal Bulletin's assessment for in...Read More
Perhaps the best contrarian indicator for the directional movement of gold and silver is Dennis "Wrong Way" Gartman, who recently announced that he was dumping all of his gold "positions" (note: Gartman's "positions" are theoretical paper portfolio trades):As for gold, we have clearly held on far, far, far too long to having owned gold...clearly we've been wrong to have erred bullishly of gold i...Read More
Chinese ferro-chrome prices plunged late last week after ferro-chrome smelters in the major production hub of Inner Mongolia restarted operations, while muted buyer interest and uncertainty weighed on cif China UG2 chrome ore and charge chrome indices. Spot domestic ferro-chrome prices drop in China Chrome ore and charge chrome cif China dip Alloys in South Korea and Japan unmoved&nbs...Read More
The Federation of Copper Workers in Chile has rejected copper producer Codelco's response to a threatened strike at its Chuquicamata copper mine, and will form a new group to meet next week and discuss its next steps, the federation's board of directors said on Monday July 9.The move follows a meeting of the federation on Friday at which it discussed a potential stoppage by trade unions 1, 2 and 3...Read More
Lead-zinc producer Recylex has started the hot commissioning phase of the new reduction furnace at its lead smelter at Nordenham in northern Germany, operated by Weser-Metall.The hot commissioning phase is used to test furnaces before they go into production mode, and is expected to last for a few weeks before ramping up to commercial levels of production in the third quarter of 2018, the...Read More
Chinese ferro-chrome prices plunged late last week after ferro-chrome smelters in the major production hub of Inner Mongolia restarted operations, while muted buyer interest and uncertainty weighed on cif China UG2 chrome ore and charge chrome indices. Spot domestic ferro-chrome prices drop in China Chrome ore and charge chrome cif China dip Alloys in South Korea and Japan unmoved&nbs...Read More
Metal Bulletin presents a timeline of key dates and events related to the manganese flake rally this year and the reasons behind the moves.Manganese flake prices are now trading at levels last seen in July 2012 amid ongoing production curtailments at major Chinese producer Ningxia Tianyuan, with the impact now spreading into the ferro-chrome and selenium markets. Metal Bulletin's assessment for in...Read More
Manganese ore and alloy prices ended their recent rally in China, after smelter restarts appeared to spell the end for alloy tightness. Chinese smelter restarts prompt downward correction in alloy prices Ore prices follow alloy lower Indian alloy prices rise on strong demand from east Asia European ferro-manganese prices drop on lower producer offers Manganese ore and alloy pr...Read More
Turkish deep-sea scrap import prices went down slightly on Monday July 9 with the news of a Baltic Sea cargo being sold last week.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (95:5) at $360 per tonne cfr on Wednesday July 4.After the news of this deal was heard, the daily scrap indices slipped on...Read More
Geological model of the Probe Metals Val d'Or East Project. Source Probe Metals Inc.Probe Metals Inc. [PRB-TSXV; PROBF-OTCQB] provided new results on Monday July 9 from the ongoing 85,000 metres drill program at its 100%-owned Val-d'Or East project near Val-d'Or, Quebec. Results from 42 drill holes, totaling 15,248 metres, were received and show continued expansion of the gold resource within the...Read More
Drilling at Viva Gold's Tonopah Project in western Nevada.Source: Viva Gold Corp.Viva Gold Corp. [VAU-TSXV; VAUCF-OTC], formerly - Aintree Resources, has provided initial assay results from the recently completed 11-hole reverse circulation (RC) drill program at its Tonopah gold project. The project is located on the prolific Walker Land Trend of western Nevada on the northeast side of the San Ant...Read More
Turkish domestic auto bundle (DKP grade) scrap prices have strengthened with improving demand over the past week, while ship scrap prices have only shifted sideways, sources said on Monday July 9.Alloy long steel producer Asil ??elik raised its buy price by TRY50 ($11) per tonne to TRY1,680 ($367) per tonne delivered, while long and flat steel producer ??olakoglu increased its buy price for auto b...Read More
Comex copper prices bounced back from a one-year low in US morning trading on Monday July 9, with a softer dollar and equity recovery supporting the base metals complex. Copper for September settlement on the Comex division of the New York Mercantile Exchange recovered 2.15 cents or 0.8% to $2.8455 per lb. Last week, the red metal traded at the lowest point since July 2017. "The outlook across the...Read More
Some strength emerged in the three-month base metals prices on the London Metal Exchange on the morning of Monday July 9, with all of the metals posting gains that averaged 1% as at 7.06am London time.Volume has been above average with 10,063 lots traded. This follows a mixed performance on Friday, when nickel, lead, tin and copper prices dropped, while aluminium and zinc prices rallied. A large u...Read More