The latest news and price moves to start the Asian day on Wednesday February 28.Base metals prices on the London Metal Exchange were mostly lower at the close on Tuesday February 27, with the dollar index surging to its highest level since the start of the month. Read more in our live futures report.Here are how LME prices looked at Tuesday's close:Comex copper prices were again trading in negativ...Read More
Brazilian iron ore miner Vale SA's quarterly net income jumped by 47 percent but still badly missed analyst estimates, depressed by rising costs and foreign exchange related losses.In a securities filing on Tuesday, the world's largest iron ore producer said net income totaled $771 million in the quarter, well below a consensus estimate of $2.537 billion but still above the $525 million in profit...Read More
After one of the worst bear markets in history, gold and the gold mining stocks began a new bull market cycle in 2016. With the first 8 months of the year filled with incredible gains, a correction in the market ensued. Of the two, the gold mining stocks were hit the hardest, sending a large portion of the company share prices down or sideways over the last 16 months.Today, in the 1st quarter of...Read More
After one of the worst bear markets in history, gold and the gold mining stocks began a new bull market cycle in 2016. With the first 8 months of the year filled with incredible gains, a correction in the market ensued. Of the two, the gold mining stocks were hit the hardest, sending a large portion of the company share prices down or sideways over the last 16 months.Today, in the 1st quarter of...Read More
Russian President Vladimir Putin met with the director general of Rosatom yesterday for an update on the state nuclear corporation's performance and investment strategy. The former deputy minister of economic development and trade, Alexey Likhachov took over the helm of Rosatom in October 2016, when Putin appointed Sergey Kirienko as first deputy head of the Presidential Administration.Putin and L...Read More
The revision of the EU Emissions Trading System (EU ETS) for its next phase (2021-2030) was approved by the Council of the European Union yesterday. Foratom, the European nuclear trade body, welcomed the reform but said more must be done to decarbonise Europe's economy.The EU ETS was launched in 2005 and operates in 31 countries - all 28 EU countries, plus Iceland, Liechtenstein and Norway. It is...Read More
Metal Bulletin has launched two assessments to track spot and annual refining charges (RC) for blister copper imported to China following a month-long consultation. Blister copper, an intermediate copper product used by smelters for refined copper production, is known as one of the first options for scrap replacement. Import volumes of the increasingly popular blister copper, together with anodes,...Read More
Vale is reevaluating its plans for its Vale New Caledonia nickel project due to its improved results and the positive impact of higher cobalt prices, chief executive officer Fabio Schvartsman said on Wednesday February 28."We are waiting to see where things are going to move forward to in order to make a decision in the VNC situation," he told analysts during a conference call. "It is clear that t...Read More
Comex copper prices softened in the US morning on Wednesday February 28, with a stronger dollar and lower-than-expected Chinese data weighing on the base metals complex. Copper for May settlement on the Comex division of the New York Mercantile Exchange fell 3.10 cents or 1% to $3.1555 per lb. Earlier, the contract touched $3.1525, the lowest since February 13. Earlier this morning, China's manufa...Read More
Parex Resources (PXT.TO), the Colombia-focused oil explorer and producer, has now released its updated oil reserve estimates. With a 2P replacement ratio of 488% (which means the company has added 5 times more oil to its reserves than it has produced) and a total 2P reserve basis of 162 million barrels and a 3P reserve of 241 million barrels, shareholders can definitely be happy with the results....Read More
A second shipment of alumina produced at Alumina Partners of Jamaica (Alpart) has recently been loaded from Jamaica's Port Kaiser, according to Sun Jing, a senior engineer and manager at China's Jiuquan Iron & Steel (Group) Co (Jisco).The global financial crisis of 2008-09 and soaring energy costs had forced the closure of the plant in May 2009, but Jisco reopened it in June last year. An initial...Read More
The Saramacca Project, located 25 km southwest of its Rosebel Gold Mine in Suriname, South America. Source: IAMGOLD Inc.IAMGOLD Corp. [IMG-TSX, IAG-NYSE] on Wednesday February 28 released an update form its Phase 11, 2017 drilling program at the Saramacca Project, located 25 km southwest of its Rosebel Gold Mine in Suriname, South America.The announcement comes six months after the company reporte...Read More
Agreement strengthens Aurora Cannabis Inc. (TSX:ACB) domestic distribution and complements its strong international networkSmallCapPower | February 28, 2018: Aurora Cannabis Inc. (TSX:ACB) announced on Tuesday that it has inked a supply deal with Shoppers Drug Mart, Canada's largest pharmacy chain with over 1,300 retail stores nationwide. As per the agreement, Aurora Cannabis will supply Shoppers...Read More
The Jamalco alumina refinery at Clarendon in Jamaica will end its reliance on oil within the next two or three years when it converts to using natural gas, its managing director has said.A new heat and power facility, developed through a joint agreement with New Fortress Energy, will produce 100 MW of energy, of which 94 MW will be exported to the country's grid, Austin Mooney said."The natural ga...Read More
GIA certified 0.14 carat fancy vivid orangey yellow round brilliant diamond from the Q1-4 kimberlite at North Arrow's Naujaat Diamond Project, Nunavut. Source: North Arrow Minerals Inc.North Arrow Minerals Inc. [NAR-TSXV; NHAWF-OTC] on Wednesday February 28 reported final diamond recoveries from a 309.8-tonne mini bulk sample collected in July 2017 from the diamondiferous Q1-4 kimberlite at th100%...Read More
The environment secretariat in Brazil's northern state of Par?? has ordered Hydro to cut by 50% the production of calcine alumina at its Alunorte refinery, the Norwegian aluminium producer said on Wednesday February 28. The reduction must be completed by March 1, the secretariat determined. A failure to meet the deadline will mean a daily fine of nearly 500,000 Brazilian Reais ($154,664). While it...Read More
Don Taylor, Chief Operating Officer at Arizona Mining will win the PDAC 2018 Thayer Lindsley Award. Source: Arizona Mining Inc.Don Taylor, Chief Operating Officer at Arizona Mining Inc. [AZ-TSX] won the 2018 Thayer Lindsley Award for the discovery of the Taylor lead-zinc-silver deposit in Arizona. In early 2017, the company released a preliminary economic assessment (PEA), confirming that Taylor i...Read More
Vale is reevaluating its plans for its Vale New Caledonia nickel project due to its improved results and the positive impact of higher cobalt prices, chief executive officer Fabio Schvartsman said on Wednesday February 28."We are waiting to see where things are going to move forward to in order to make a decision in the VNC situation," he told analysts during a conference call. "It is clear that t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Amerigo Resources Ltd. (TSX: ARG) is an innovative copper producer that produces copper concentrates at its 100% owned MVC operation, in Chile, by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine. MVC has a twenty-five year track record of producing copper safely and profitably and, unlike conventional mines, MVC is not subject to...Read More