Peru's largest copper producer, Cerro Verde, reported a surge in fourth-quarter 2017 net profits, with higher copper prices offsetting a decline in sales volumes.The mine, operated by Freeport-McMoRan, recorded a net profit of $217.6 million in the last three months of 2017, up by 89.4% from $114.9 million in the fourth quarter of 2016, the company said.This was attributed mostly to high...Read More

The majority shareholder of Vedanta Resources intends to remain an investor in Anglo American and backs the mining company's continued presence in Africa, according to Vedanta chairman Anil Agarwal. The Agarwal family trust, Volcan Investments Ltd, acquired a 21% stake in Anglo in two stages last year, but Agarwal has always been quick to stress the investment was made in a personal capacity and i...Read More

South Africa urgently needs to get investment back on the agenda, according to the deputy chairman of Anglo American South Africa. Speaking during the annual Mining Indaba in Cape Town, Norman Mbazima said that while South Africa may have one of the world's most endowed mining jurisdictions, it has not been able to bring this endowment to account. "We need to attract capital for South Africa's min...Read More

TSX VENTURE: JGwww.japangold.com Mr. John Proust reports:VANCOUVER, Feb. 5, 2018 /CNW/ - Japan Gold Corp. (TSX-V: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to report results from its first scout drill holes completed in late December 2017 on the Akebono prospect at its Ikutahara Project in Hokkaido, Northern Japan.The following intersections downhole were returned from the targ...Read More

Peru's zinc production rose up by 10.2% in 2017, boosted by a strong increase in Antamina mine's output, according to the country's energy and mines ministry, MEM. Production totaled 1.47 million tonnes in the full year of 2017, from 1.34 million tonnes in 2016, the ministry said on its website on Sunday February 4. The increase was driven by a strong performance from Antamina mine, the country's....Read More

Peruvian copper production increased by 3.9% in 2017, with higher volumes from MMG's Las Bambas and Chinalco's Toromocho offsetting the small declines at other major mines. The country produced a total of 2.45 million tonnes of copper last year, compared with 2.35 million tonnes in 2016, Peru's energy and mines ministry, MEM, said its website on Sunday February 4. Meanwhile, the average coppe...Read More

TSX VENTURE: FCCwww.firstcobalt.com Mr. Trent Mell reports:TORONTO, Feb. 5, 2018 /CNW/ - First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the "Company") is pleased to announce positive drill results from its 2017 drill program, intersecting over 30 metres of disseminated cobalt mineralization in the southern part of the Canadian Cobalt Camp. Multiple drill intercepts in this area demonstra...Read More

Comex copper prices diverged from equity markets and returned to positive territory on Monday February 5, with the global environment remaining solid for the base metals group. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 3.75 cents or 1.2% to $3.2250 per lb. The red metal dipped to a one-week low on Friday following a heavy selloff in equity markets...Read More

TSX: FFwww.firstmininggold.com Mr. Keith Neumeyer reports:VANCOUVER, British Columbia, Feb. 05, 2018 (GLOBE NEWSWIRE) -- First Mining Gold Corp. ("First Mining" or the "Company") (TSX:FF) (OTCQX:FFMGF) (Frankfurt:FMG) is pleased to announce the drilling results of the four drill holes from its deep diamond drill exploration program within Zone 7 (see Tables 1 and 2) at First Mining's 100...Read More

European apparent steel consumption is forecast to increase by 1.90% year-on-year in 2018 and by 1.40% year-on-year in 2019, European steel association Eurofer said at a seminar held in Brussels, Belgium, on Monday February 5.European steelmakers gained EU market share over the course of 2017, with import volumes falling in the second half of 2017. Steel imports held a 21% share of apparent steel...Read More

TSX: GUYwww.guygold.com Mr. Scott Caldwell reports:TORONTO, Feb. 5, 2018 /CNW/ - Guyana Goldfields Inc. (TSX: GUY) (the "Company") is pleased to provide an update on its greenfield exploration activities including drill results from a combined 2,500 meters reconnaissance-style drill program at its Iroma and Wynamu prospects.Iroma:The Iroma prospect is located 10km northeast of the Aurora Gold...Read More

ThyssenKrupp workers belonging to German trade union IG Metall have voted to support the collective wage agreement for the merger of the German firm's European flat steel division with those of Tata Steel, the union said on Monday February 5.The vote backs the completion of the 50:50 joint venture between the steelmakers, which will make the group easily the second-largest producer in the domestic...Read More

TSX VENTURE: MYAwww.mayagoldsilver.com Mr. Noureddine Mokaddem reports: Project Indicates After-tax IRR of 118% with an NPV6.5% of US $200.2 Million MONTREAL, QUEBEC--(Marketwired - Feb. 5, 2018) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce the results of an independent NI 43-101 Preliminary Economic Assessment Study ("PEA") on its Zgounder S...Read More

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: wire rod, rebarWire rodUkraine, export, wire rod, assessed at $580-595 per tonne fob Black Sea.Ukraine (ArcelorMittal Kryvyi...Read More

TSX: MOZwww.marathon-gold.com Mr. Phillip Walford reports:Highlights:New drilling to be added to the next resource update for the Marathon Deposit includes high-grade gold intervals from both shallow open pit and deeper underground depths including:A third drill rig has been added to conduct exploration drilling along the 3 km of bog and overburden covered ground between the Marathon and Sprite De...Read More

TSX VENTURE: TLGwww.troilusgold.com Mr. Justin Reid reports:TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX-V:TLG) ("Troilus" or the "Company") is pleased to announce the commencement of a 30,000 metre drill program at its Troilus Gold and Copper project located northeast of the Val-d'Or district in Quebec, Canada (the "Troilus Project") (Figure 1). Troilus has engaged the servi...Read More

Finished steel prices in Russia will be reliant on moves in the global market and on how well the rouble holds up against the US dollar in 2018, Yuriy Tsybulko vice-president at Russia's biggest trading company, Metallservice, told Metal Bulletin. "The Russian [steel] market directly depends on the global market, which is why our domestic market will be [affected] by the situation in Chi...Read More

Turkey's biggest steel producer, Erdemir Group, sold 7.60 million tonnes of flat steel products in 2017, an increase of 5.56% from the 7.20 million tonnes sold in 2016.The group reported earnings before interest, taxes, depreciation and amortization (Ebitda) for 2017 of TRY5.453 billion ($1.455 billion*). This was up by 101.91% from Ebitda of TRY2.701 billion ($720.47 million*) reported for 2016.T...Read More

Demand for flat steel will remain moderate in Turkey in February and price increases are unlikely because raw material prices are falling and end-user demand is unremarkable, market participants told Metal Bulletin.Metal Bulletin assessed the price of hot-rolled coil (HRC) at $630-635 per tonne ex-works on Friday February 2, down at the high end from $630-640 per tonne in the previous assessment b...Read More

Chinese ferro-silicon prices have edged down in line with tender purchase prices in the past week, with the European market easing amid reports of deals heard below the current range. China tracks lower tender purchase prices ...but supportive factors seen European price range eases US market firms while available supply thins Chinese domestic ferro-silicon prices were lower week on...Read More