Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Monday that parent company Barrick Gold (TSX, NYSE:ABX) has yet to reach an agreement with the East African nation's government to end a running dispute over taxes that has severely hit the miner's bottom line.Barrick, which has been negotiating on Acacia's behalf with the Tanzanian government for over a year, had said it would deliver...Read More
Acacia Mining (LON:ACA), Tanzania's No.1 gold producer, said Monday that parent company Barrick Gold (TSX, NYSE:ABX) has yet to reach an agreement with the East African nation's government to end a running dispute over taxes that has severely hit the miner's bottom line.Barrick, which has been negotiating on Acacia's behalf with the Tanzanian government for over a year, had said it would deliver...Read More
LONDON, June 25 (Reuters) - Acacia Mining said onMonday its majority shareholder Barrick Gold would not provide anew deadline for the completion of talks to end a cripplingdispute over taxes in Tanzania after failing to meet a mid-yeartarget to do so.Barrick , which is negotiating on Acacia's behalfwith the Tanzanian government, had previously said it wouldprovide an agreement for approval by Acac...Read More
BHP's Escondida, the world's largest copper mine, has an uncertain future as the contract between the main miners' union and majority owner BHP is supposed to expire next month.The union demanded a bonus of around $34,000 and a 5% general wage increase for each worker. The two parties have been negotiating since last year. The higher copper prices, due to fears that Escondida workers would go on s...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index had a quiet week of consolidation, twice pulling back to the low 1300s (and Bollinger band midpoint) where it also bounced twice before closing at 1312.32 for a loss of 1.83 points.MACD fell 1.32 points to 0.10. RSI fell 8.41 to 51.32.Support is at 1293 and 1302. Resistance is...Read More
President Donald Trump plans to bar many Chinese companies from investing in U.S. technology companies and block additional technology exports to China, the WSJ reports. Huileng Tan| @huileng_tan Published8:57PM ET Sun, 24 June 2018Updated12 Hours AgoCNBC.com show chapters Axios CEO: Trump thinks he'll get a deal with China 12 Hours Ago |04:30 President Donald Trump plans...Read More
SHANGHAI, Jun 25 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index dipped and closed at 94.52 last Friday.LME metals saw mixed trading while SHFE metals rose across the board last Friday. LME nickel outperformed with a gain of close to 2%. LME lead increased 0.75%, copper nudged up while aluminium, tin and zinc dipp...Read More
SHANGHAI, Jun 25 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index dipped and closed at 94.52 last Friday.LME metals saw mixed trading while SHFE metals rose across the board last Friday. LME nickel outperformed with a gain of close to 2%. LME lead increased 0.75%, copper nudged up while aluminium, tin and zinc dipp...Read More
Investing.com - Gold looks likely to remain vulnerable amid worries over higher U.S. interest rates boosting Treasury yields, after the yellow metal registered a second weekly decline last week, ending close to its lowest levels since December.Gold futures for August delivery tacked on 60 cents to settle at $1,271.10 on the Comex division of the New York Mercantile Exchange late Friday. For the we...Read More
Shares in Teck Resources Ltd. (TSX:TECK.B)(NYSE:TECK) have been absolutely taking off, more than doubling over the past year, not to mention rising more than ten-fold from their lows reached in January of 2016.While it's certainly been a wild (and profitable!) ride for shareholders thus far, there's good reason to believe the rally may not be over yet.Here are three reasons why shares in Teck Reso...Read More
It has been a rollercoaster ride for investors in gold mining junior Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) over the last year. After attracting considerable attention because of the quality of its Brucejack mining project located in Northwestern British Columbia, its share price has gyrated wildly as the operational performance of the mine failed to meet expectations. Its shares plunged shar...Read More
China National Nuclear Corporation subsidiary CNLA and Orano Projects, a subsidiary of French nuclear company Orano, have agreed on preparatory works for a Chinese plant to process and recycle used nuclear fuel, Orano announced today. Orano is also reported to be planning investments in its French uranium conversion facility.Prime Minister Edouard Philippe arriving in Shenzhen on 22 June (Image: F...Read More
Unionized workers at Codelco's Chuquicamata, the world's largest open pit copper mine, have threatened strikes in protest against plans to develop underground mining there and ensuing layoffs.Chuquicamata general manager Mauricio Barazza informed workers last April that 1,700 people, 36% of the mine's workforce, would be asked to leave the company during the mine's transition to an underground pro...Read More
Nickel on the London Metal Exchange were down by more than 3% at the close of trading on Monday June 25 while other base metals prices also slumped. Nickel traded in an intraday range of $680 per tonne, eventually closing 3.6% by the end of trading below $15,000 per tonne.A sharp rise in the dollar index, which remains high, piled pressure on the base metals last week while added uncertainty about...Read More
The London Metal Exchange will introduce three regional hot-rolled coil contracts at the start of 2019, coinciding with a change in attitude towards risk management tools for the ferrous sector, according to the exchange's business development manager. The contracts are aimed at the domestic markets in the United States and in Europe as well as the Chinese export market, said Marko Kusigerski...Read More
The Chinese domestic ferro-silicon market has dropped further, in line with demand and increased production in northern China, while export prices have held despite weaker demand; meanwhile, the European market has been steady, and market sentiment suggests higher spot prices in the near term. Weaker fundamentals, higher supply in northern China drag down domestic prices Europe third-quarter...Read More
The ascent in ammonium paratungstate (APT) prices paused last week after a few consecutive weeks of increases. Chinese, European APT prices stabilize Low availability continues to support APT prices but fewer inquiries seen European ferro-tungsten edges down amid weak demand Chinese ammonium paratungstate (APT) export market slowed down last week amid fewer inquiries from overseas and...Read More
Emirates Global Aluminium (EGA) received its first bauxite shipment from Compagnie des Bauxites de Guin?(C)e (CBG) on Sunday June 24 in preparation for the commissioning of its Al Taweelah alumina refinery in Abu Dhabi. Al Taweelah will produce its first alumina in the first half of 2019. At full capacity, the refinery will receive 5 million tonnes per year of bauxite from CBG. EGA has the capacit...Read More
Ferro-chrome benchmark price negotiations for the third quarter of 2018 are revealing a fresh spin on some familiar topics and a more detailed look at regional price differences across the supply chain. Metal Bulletin reported last week that the widely-expected reduction in the third-quarter settlement is likely to be smaller than previously anticipated, due to strengthening ferro-chrome markets,...Read More
Chinese silicon export prices continued to fall amid thin buying appetite and a stronger dollar last week while the European market remained quiet. Metal Bulletin's Chinese grade 553 silicon metal export price dropped to $1,740-1,800 per tonne on Friday June 22, from $1,760-1,850 per tonne the week before. In China, continued environmental scrutiny has weakened demand from silicon metal consu...Read More