Recent News

SMM Evening Comments (Jun 12)

June 12, 2018 / news.metal.com

SHANGHAI, Jun 12 (SMM) – Nonferrous metals mostly traded weakly on Tuesday June 12. SHFE nickel led losses and closed 0.61% lower. Copper dipped 0.52%. Tin and aluminium inched down, while zinc and lead went up slightly. The ferrous complex rose across the board with coke leading the gains with a surge of nearly 4%. Coking coal jumped nearly 3%, rebar gained almost 2%, hot-rolled coil r...Read More

Foran launches C$7M private placement

June 12, 2018 / www.mining-journal.com

The Vancouver-based company is offering up to 12.87 million common shares, comprising 4.54 million flow-through shares at C66c each, for total gross proceeds of up to C$3 million, and 8.33 million ordinary common shares at C48c apiece, for gross proceeds C$4 million.Foran in December signed a technical services agreement with Glencore Canada to provide technical services and expertise to advance t...Read More

CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines...

June 12, 2018 / www.mining-journal.com

The deal will see CITIC Metal become Ivanhoe's single largest shareholder, besting founder and executive chairman Robert Friedland's 17% Ivanhoe stake.Read More

Stratex to earn up to 90% in Cameroon gold projects...

June 12, 2018 / www.mining-journal.com

By funding US$1.56 million on exploration over two years, Stratex can earn an initial 51% of the two projects from Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques (BEIG3), with at least $560,000 to be committed in the first year.The work plan for the first stage includes infill trenching at Bakassi to better define key gol...Read More

Plateau Energy on the front foot

June 12, 2018 / www.mining-journal.com

The results expand the current east-west footprint to 2.2km wide and 1.7km long (north-south). Delineation drilling to date confirmed a 50m-140m-thick lithium-rich tuff unit, that points to the deposit's significant scale.The Toronto-based company reported that it had mapped and sampled a massive footprint for the lithium-bearing deposit, and the thick intersections of lithium-rich tuff had consis...Read More

Data: SHFE, DCE market movement (Jun 12)

June 12, 2018 / news.metal.com

Read More

COKING COAL DAILY: Chinese end-user activity comes into focus amid firm prices

June 12, 2018 / www.metalbulletin.com

Seaborne coking coal prices were stable on Tuesday June 12, but trading activity in the second-tier segment is picking up, market sources said. A 40,000-tonne cargo of a second-tier product was heard to have been traded at around $182 per tonne fob Australia. Offers for premium hard coking coal remained above $200 per tonne cfr China, though there were no firm bids heard during the day. A cargo of...Read More

MOD has early copper success with regional Botswana...

June 12, 2018 / www.mining-journal.com

MOD said visible sulphides in intermittent veins were seen in a 90m interval from 360m downhole, with the hole being deepened and assaying still to be undertaken.Read More

SMM Morning Comments (Jun 12)

June 12, 2018 / news.metal.com

SHANGHAI, Jun 12 (SMM) –Copper: Longs were keen to take profit and left after the previous surges in copper prices. Unionised workers at BHP’s Spence copper mine in northern Chile approved a new labour contract on Monday, which pushed some speculative longs to leave the market.With a widely expected hike in interest rates and as the US dollar stabilised, copper prices are likely t...Read More

Waihi exploration delivers for OceanaGold

June 12, 2018 / www.mining-journal.com

Recent headline hits below the Martha pit included 5m grading 65.3g/t gold and 100g/t silver, with the company having a current exploration target of 3.5-5 million tonnes grading between 5-7g/t gold for 500,000oz to 700,000oz of gold.Read More

GLOBAL TIN WRAP: Premiums steady across the board

June 12, 2018 / www.metalbulletin.com

Tin premiums were assessed flat across global markets, as slow spot trades kept European premiums unchanged, while steady supply and demand fundamentals in the United States and Asia kept premiums static in their respective markets. Quiet European spot trades on weak euro, high London Metal Exchange pricesUS anticipates Indonesia volumesAsia premiums flat, fundamentals steady European premiums sta...Read More

US aluminium scrap markets holding steady

June 12, 2018 / www.metalbulletin.com

Aluminium scrap prices in the United States continued to maintain a steady footing with inventory positions and scrap flows generally in check, although some market participants reported signs of softness for the upcoming summer months. Smelter- and mill-grade scrap prices were unchanged nearly across the board, aside from aluminium-copper radiators, which slipped by 3 cents per lb on Monday June...Read More

US Midwest aluminium premium slips on summer lull

June 12, 2018 / www.metalbulletin.com

The US Midwest aluminium premium has slipped at the start of this week, with market participants noting that discounting off of published premiums is becoming more widespread among parties trying to make spot deals. American Metal Market's assessment of the US Midwest aluminium spot premium was at 21.75-22 cents per lb on Tuesday June 12, down from 22-22.25 cents per lb on Friday. The pr...Read More

Katanga settles legal dispute over copper miner KCC with G?(C)camines

June 12, 2018 / www.metalbulletin.com

Glencore-owned copper producer Katanga Mining has settled its legal dispute in the Democratic Republic of Congo (DRC) with state-run miner G?(C)camines and has agreed to resolve the capital deficiency at their jointly owned operating subsidiary, Kamoto Copper Co (KCC).The company has written off roughly $5.6 billion in a debt-for-equity swap, ending an attempt by G?(C)camines to dissolve KCC in or...Read More

Rio Tinto names new CFO

June 12, 2018 / www.mining-journal.com

Former Maersk chief finance, strategy and transformation officer Jakob Stausholm has been named as Rio's new CFO.Lynch will step down as CFO and executive director on September 3, with Stausholm to take over that same day.Rio CEO J-S Jacques said he was delighted that Stausholm was joining Rio."The experience he has gained in various senior financial and strategy roles globally will be invalu...Read More

Nizi makes push into concentrates trading, hires former MRI CEO Lowe

June 12, 2018 / www.metalbulletin.com

Luxembourg trader Nizi International is planning to diversify into metal concentrates with a slew of new hires, including former MRI chief executive officer, Mark Lowe.Lowe, who was also head of refined metals at Trafigura, took the position as Nizi's new head of base metals this week, Nizi International CEO Ulf Berg told Metal Bulletin in an emailed statement on Tuesday June 12. Richard Latter, f...Read More

Phillips Names New Watch Specialist

June 12, 2018 / www.diamonds.net

RAPAPORT... Phillips, together with its partner Bacs & Russo, hasappointed James Marks as international watch specialist to oversee thedepartment's sourcing efforts, the auction house said Monday. Marks (pictured) comes from a finance background, andwas most recently a portfolio manager for a commodity hedge fund. He has been amember of the timepiece community for many years, primarily focusin...Read More

Graff Profits Soar After Retail Expansion

June 12, 2018 / www.diamonds.net

RAPAPORT... Global store openings helped fuel a jump in revenue and profit at Graff Diamonds International last year, according to the luxury jeweler's latest financials. Sales rose 22% to $692.8 million in 2017, while profit morethan tripled to $52.1 million, last week's filing showed. The London-basedretailer saw UK sales slide 9% to $31.3 million, while revenue from the rest ofits global n...Read More

Jaguar mines return to normal

June 12, 2018 / www.mining-journal.com

The company announced two weeks ago it had "significantly" scaled back mining activities at its Pilar and Turmalina gold mines, due to the delayed delivery of fuel and other critical mining consumables.Jaguar said yesterday the 10-day strike had impacted gold production and it expected some shipping and logistics issues to persist over the coming weeks, as transportation normalised to clear delive...Read More

Gemfields Sells $72M at Record Auction

June 12, 2018 / www.diamonds.net

RAPAPORT... Gemfields recorded record revenue of $71.8 million at its June ruby auction in Singapore, thecolored-gemstone supplier said Monday. The miner sold588,656 carats of rough, untreated rubies from the Montepuez mine in Mozambique, at an average price of $122 per carat, with 95% of lots finding buyers. "The health ofmarket demand for Mozambican rubies...is amply demonstrated by theserecord-...Read More

Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok