Comex copper prices bounced back on Wednesday January 31 after a multi-session downturn with a softening dollar lifting the metals complex. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 2.90 cents or 0.9% to $3.2180 per lb. The contract had been on a four-day losing streak. "Judging by the limited pullback and decent dip-buying interest, bulls are sti...Read More
Iron ore prices continued to hover around $73 per tonne cfr China on Wednesday January 31 amid an inactive physical market. Metal Bulletin's 62% Fe Iron Ore Index Today: $72.92 per tonne cfr Qingdao Daily change: down by $0.05 per tonne Month-to-date average: $75.83 per tonne Metal Bulletin's 58% Fe Premium Index Today: $59.96...Read More
Export prices for Southern European rebar have gone unchanged week-on-week amid continued low market activity, sources told Metal Bulletin on Wednesday January 31.Metal Bulletin's weekly export price assessment for Southern European rebar was ?,?490-505 ($607-626) per tonne fob main ports on Wednesday."There is little activity but we cannot rush into the market and drop prices immediately. The bes...Read More
Domestic prices for heavy steel plate in Europe are expected to rise following the positive trend settled in the region's market for steel coil products, sources told Metal Bulletin on Wednesday January 31.High slab costs are also expected to support higher plate prices, especially in Southern European, where the majority of plate produced by re-rollers, according to market source.Metal Bulletin's...Read More
GFG Alliance has been granted full planning permission for a new 400-worker alloy wheel factory next to the Liberty British Aluminium smelter at Fort William, Scotland, the company said. The new plant, part of a ?120 million ($170 million) investment by GFG at Fort William, will utilize aluminium from the adjacent smelter. Liberty is a part of British group GFG Alliance, the investment vehicle ow...Read More
TSX VENTURE: MLwww.millenniallithium.com Mr. Farhad Abasov reports:US$ 824 million after-tax NPV at 8% discount rate and IRR of 23.4% for 25,000 TPY production of lithium carbonate.CAPEX estimate of Total Costs of US$410 million for 25,000 TPY production;OPEX of US $3,218/tonne of lithium carbonate over the life of the mine.Operation based on proven solar evaporation technology and conventional li...Read More
The Century zinc mine, the world's third largest prior to its 2016 closure, is on track to restart production in late July and generate up to 264,000 tonnes per year of zinc.Fully owned by New Century Resources, the mine in Australia's Queensland is set to complete its start-up production in three months' time, according to the company's quarterly activities report released on Wednesday. First pro...Read More
TSX: BARwww.balmoralresources.com Mr. Darin Wagner reports:VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX:BAR) (OTCQX:BALMF) is pleased to announce that it has commenced its first exploration program on the HWY 810 property in Quebec. The wholly owned HWY 810 property was acquired by Balmoral through staking in 2016/2017. T...Read More
TSX: NSUwww.nevsun.com Mr. Peter Kukielski reports:VANCOUVER, Jan. 31, 2018 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN:NSU) (Nevsun or the Company) today provided its outlook and guidance for 2018. Unless otherwise noted, all dollar amounts are in millions of US dollars.2018 Outlook HighlightsAchieve top quartile safety performance at all operationsInvest $50 to $60 million advancing t...Read More
Tin premiums for standard material were stable globally in the week ended Tuesday January 30 but the market is looking hungrier for Indonesian material and keenly awaiting exports to resume as expected in the coming days. 99.9% tin premiums stable in Europe and China but a bit higher in the United States Indonesian export permit renewal process still main focus Low-lead tin premiums a...Read More
TSX: IMGwww.iamgold.com Mr. Steve Letwin reports:TORONTO, Jan. 31, 2018 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided results from its 2017 drilling program at the Diakha deposit on its wholly owned Siribaya project in Western Mali. In 2017, the Company completed a combined diamond and Reverse Circulation ("RC") drilling program designed to infill and increase confidence...Read More
Zinc premiums were largely flat in inactive spot markets in the week to Tuesday January 30, with the exception of Southeast Asian market, thanks to growing galvanizing demand in Vietnam, while lead premiums were steady on weak spot demand. Zinc premium for Southeast Asia ticked up on growing galvanizing demand from Vietnam, but were largely unchanged elsewhere LME zinc price set a new 10-ye...Read More
TSX: CNLwww.continentalgold.com Mr. Leon Teicher reports:TORONTO, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Continental Gold Inc. (TSX:CNL) (OTCQX:CGOOF) ("Continental" or the "Company") is pleased to announce high-grade assay results from its 2018 exploration drilling program at its 100%-owned Buritic?? project in Antioquia, Colombia. The Company is well underway with its 137,000-metre drill program for...Read More
TSX: DMLwww.denisonmines.com Mr. Lukas Lundin reports:TORONTO, ONTARIO--(Marketwired - Jan. 31, 2018) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML) (NYSE MKT:DNN) (NYSE American:DNN) is pleased to announce an 88% increase in the Indicated Mineral Resources estimated for the Wheeler River project. Denison is also pleased to announce it has increased its interest in the Wheeler River...Read More
The German metals sector is being hit with a number of day-long strikes this week while negotiations over pay between employers and trade union IG Metall continue, Metal Bulletin heard on Wednesday January 31.German metals companies could incur a significant loss of revenue, due to production and delivery shortfalls as a result of the strikes, along with additional costs for catching up on outages...Read More
TSX VENTURE: PGMwww.puregoldmining.ca Mr. Darin Labrenz reports:VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM) ("Pure Gold" or the "Company") announced today the discovery of multiple new zones of high grade gold mineralization located approximately three kilometres by road south of the Madsen milling infrastructure. This important new discovery, r...Read More
Comex copper prices bounced back on Wednesday January 31 after a multi-session downturn with a softening dollar lifting the metals complex. Copper for March settlement on the Comex division of the New York Mercantile Exchange gained 2.90 cents or 0.9% to $3.2180 per lb. The contract had been on a four-day losing streak. "Judging by the limited pullback and decent dip-buying interest, bulls are sti...Read More
ArcelorMittal's global earnings increased by 28.92% year-on-year in the fourth quarter of 2017 due to increased steel shipment volumes and higher prices, the company said on Wednesday January 31.Earnings before interest, taxes, depreciation and amortization (Ebitda) at the world's largest steelmaker reached $2.14 billion in October-December last year, compared with $1.66 billion in the correspondi...Read More
Saudi Arabian flat steel re-roller and coater Unicoil is now able to produce pre-painted galvanized steel (PPGI), or color-coated coils, in thicknesses up to 1.50mm, the company told Metal Bulletin on Wednesday January 31.Its previous limit was 1.20mm, but increased demand for building cladding, side-walling and kitchen appliances made the company focus on higher gauges, Unicoil said.The company c...Read More
Earnings at ArcelorMittal's Brazilian division rose by 59.9% year-on-year in the fourth quarter of 2017, due to increased volumes and prices.Earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $341 million in the October-December period, up from $213 million a year before, ArcelorMittal announced on Wednesday January 31.The company shipped 3.05 million tonnes of steel p...Read More