The merger of Azarga Uranium (TSX: AZZ; US-OTC: PWURF) and URZ Energy (TSXV: URZ; US-OTC: URZZF) will create a new uranium development company focused on in situ recovery (ISR) uranium deposits in the United States.Azarga controls six uranium assets in the U.S. and its flagship project, Dewey Burdock in South Dakota, has received key permits from the Environmental Protection Agency. URZ Energy...Read More
SHANGHAI, May 14 (SMM) – Most nonferrous metals rose and closed higher on Monday May 14. SHFE nickel surged 2.4%, lead gained 1.3% and tin and copper inched up. SHFE aluminium and zinc edged down.The ferrous complex rose across the board with coke leading the gains with an increase of 2.3%. Iron ore jumped 2.2%, coking coal rose 0.7% with rebar and hot-rolled coil inched up.Copper: As longs...Read More
The company said its new management team that joined six months ago had turned Ascot's focus to the higher-grade, underground potential which was likely to mean a quicker restart, using the property's existing infrastructure.Read More
CENTENNIAL, Colo., May 14, 2018 - Westwater Resources, Inc. (Nasdaq: WWR), an energy materials development company, announced today its results for the first quarter of fiscal year 2018, and also discussed its business outlook and its energy materials business development in 2018.Christopher M. Jones, President and Chief Executive Officer, said, "Our continued work to diversify into battery materi...Read More
Italian steelmaker Acciaierie Venete has suspended production at its Padova plant in Northern Italy after four employees were injured by molten steel from a defective ladle carrying the material on May 13.Long steel production at the plant has stopped while an investigation into the accident, which also caused a fire at the plant, takes place.The company hopes to restart its rolling mill by Tuesda...Read More
The Turkish steel mills prefer to stay out of the deep-sea scrap market for a second consecutive week this week because of the approach of the Islamic holy month of Ramadan and the current low demand for their finished steel products, sources said on Monday May 14.The mills booked a number of deep-sea cargoes in the week before last, and are still expected to buy more scrap for delivery in May. Bu...Read More
"Exploration will begin with a deep-imaging VTEM airborne geophysical survey, which has been employed to great effect by Garibaldi Resources," Eskay said.Shares in the Eric Sprott-backed Garibaldi shot up last year on possible Voisey's Bay parallels at its E&L nickel project and the company last week closed an upsized C$13 million (US$10.2 million) financing for exploration at its Golden Trian...Read More
RAPAPORT... The London Diamond Bourse (LDB) has appointed three newmembers - including a millennial - to its board, the exchange said last week. Kathy Chappell, the LDB's special adviser for ethicalissues, has joined the board, as has Charles Silverton, managing director ofSilverton Diamonds. They are joined by David Troostwyk, director of polished-diamondcompany Salotro. Troostwyk also estab...Read More
LONDON – Billionaire Beny Steinmetz is back to mining diamonds.The Koidu mine in Sierra Leone, controlled by the billionaire’s family trust, has started mining again after halting production for almost a year. It’s the latest step in a recovery for a business that’s spent much of the last few years in deep trouble.AdvertisementWhile the mine produces some of most valuable s...Read More
By Ambrose Evans-Pritchard, Daily TelegraphFirebrand populists of Left and Right are poised to take power in Italy, forming the first "anti-system" government in a major West European state since the Second World War.Source: Wikimedia CommonsLeaders of the radical Five Star Movement and the anti-euro Lega party have been meeting to put the finishing touches on a coalition of outsiders, the "nigh...Read More
(IDEX Online) - Sarine Technologies said that in Q1 2018, it recorded higher revenues of $16.7 million. Although year-on-year improvement was marginal, it was "still noteworthy as recurring revenues continued to climb even as the quantities of rough stones entering the pipeline declined by 10%, compared to the corresponding period in 2017. "The significant growth in revenue on...Read More
SHANGHAI, May 14 (SMM) –Copper: Copper prices saw steady gains last Friday night on a weakened US dollar. LME copper stood above all moving averages with strong support, and it is expected to trade at $6,900-6,960/mt today. The SHFE 1807 copper contract stood above the 20-day moving average with pressure from the 60-day moving average. We see it trading at 51,400-51,800 yuan/mt during the da...Read More
Turkish domestic scrap prices have shown mixed dynamics over the past week with auto bundle scrap prices going up while ship scrap prices weakened, sources said on Monday May 14.A number of steel mills have raised their auto bundle scrap prices because of strengthening demand, with the country's steel producers being quiet in the deep-sea scrap import markets.Alloy long steel producer Asil ??elik...Read More
Lonmin CEO Ben Magara said the PGM operating environment remained challenging, with the company continued to be "hamstrung" by macroeconomic challenges, its capital structure and liquidity constraints, although it did have quality mining and processing assets.Read More
RAPAPORT... Israeli startup Carats.io received first-round funding forits diamond cryptocurrency venture, the company said Monday. The enterprise, which is working in partnership with theIsrael Diamond Exchange (IDE), raised $1.6 million from Net Capital Ventures, anIsrael-based venture-capital fund.Carats.io has created the first digital coin -named CARAT -backed by real, certified dia...Read More
The US wants a major chunk of the investments in North Korea if a deal is reached on nuclear disarmament. This is my view for North Korea. Iran wanted to abandon the US dollar for crude oil pricing with cancelling of nuclear deal as a fall out. Trump further has reversed the ZTE Corp order so that it can negotiate with the Chinese. Gold bulls are caught between the devil and deep sea. On one han...Read More
(IDEX Online) - The Antwerp World Diamond Centre (AWDC), together with India's Gem & Jewellery Export Promotion Council (GJEPC), have launched a know-your-customer (KYC) exchange platform, called MyKYCBank. The sides described it as a powerful new tool to bring greater compliance and transparency to diamond transactions which provides a centralized platform for companies in the dia...Read More
SHANGHAI, May 14 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index fell after rising to a four-month high last week, gaining 0.01% week on week to stand at 92.84 last Friday due to a moderate US consumer price index (CPI).Base metals mostly strengthened last Friday as a result. Both LME and SHFE copper went up sligh...Read More
Trading activity remained thin in the physical iron ore market on Monday May 14, though prices rose amid gains in the steel and futures segments.Metal Bulletin 62% Fe Iron Ore Index: $68.93 per tonne cfr Qingdao, up by $1.51 per tonne Metal Bulletin 58% Fe Premium Index: $55.70 per tonne cfr Qingdao, up by $0.63 per tonne Metal Bulletin 65% Fe Iron Ore Index: $87.20 per tonne cfr Qingdao, up by $1...Read More