China's ferrous futures ended morning trading little changed from their opening prices again on Thursday January 18. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,834 ($596) per tonne, down 3 yuan per tonne May hot-rolled coil: 3,846 yuan per tonne, down 1 yuan per tonne Dalian Commodity Exchange...Read More
BHP has lowered the guidance for its metallurgical coal output in its 2018 financial year ending June 30 amid production issues at its Broadmeadow and Blackwater mines in Queensland, Australia.It now expects to produce 41-43 million tonnes of the steelmaking raw material, instead of the previously forecast 44-46 million tonnes.The miner disclosed its updated guidance in its latest production repor...Read More
US aluminium company Alcoa attributed a loss for the fourth quarter of 2017 to the closure of some operations and higher costs.The company reported a net loss of $196 million, primarily due to the shuttering of its Rockdale Operations site in Texas and the divestment of its Portovesme aluminium smelter in Italy. The quarterly results include $391 million worth of special items, which include both...Read More
The London Metal Exchange has appointed Robin Martin as its new head of market development, the exchange said. Robin is currently managing director for market infrastructure at the World Gold Council (WGC). He joined the organisation in November 2012. In July 2017, the LME and the WGC teamed up to launch LMEprecious which introduced...Read More
Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) has increased the value of its bid to acquire a substantial part of French speciality steelmaker Asco Industries (Ascometal), it said late on Thursday January 18.S+B's has bid a total of ?,?195 million ($238.61 million) for Ascometal, including an ?,?82 million investment in the production facilities over the next four years, it...Read More
Robust nickel prices appear to be providing some support to East Asia's stainless steel market amid persistently weak demand.Chinese producers are raising their offers for both stainless cold-rolled coil and hot-rolled sheet due to higher prices for nickel this month, despite soft demand and low bids from buyers.The three-month nickel contract on the London Metal Exchange is averaging at $12,649 p...Read More
An Italian professor at the Politecnico di Milano says that there could be an iron throne right below the apex of the Pyramid of Cheops, located in in the Giza pyramid complex, Egypt.If there is such an artifact, says Professor of Archaeoastronomy Giulio Magli, it would not be melted iron but meteoritic iron, that is, fallen from the sky in the form of iron meteorites. Such mineral is distinguisha...Read More
TransCanada Corp. (TSX, NYSE:TRP) said Thursday it had gathered strong commercial support for its $8 billion Keystone XL Pipeline, adding it would continue to secure additional long-term contracts before it decides when it will start work on the project.The Calgary-based company added that after finishing an open season that allowed shippers to commit to space in the proposed pipeline, it secure...Read More
Wood Mackenzie sees copper demand increasing significatively over global supply in the next decade and, together with it, miners' need for reliable sources of water."As constant and high demand for copper leads to resources running out, copper grades will progressively diminish. As a result, water demand will increase because it will be necessary to process more material to obtain the same amount...Read More
Chile's environmental authority - SMA - has ordered the definitive closure of Barrick Gold's (TSX, NYSE:ABX) already halted Pascua-Lama project, but lowered the fine for violations to 7 billion pesos ($11.5 million) from the previous $16 million it had charged the company."Given the nature and the size of the breaches that the company committed, there is the conviction that total and definitive...Read More
Rio Tinto-controlled Turquoise Hill (TSX, NYSE:TRQ) has declared force majeure at its massive Oyu Tolgoi copper and gold mine in Mongolia, following protests by Chinese coal haulers that have interrupted shipments near the border.In a note released Wednesday night, the Vancouver-based miner said that earlier this month protestors used a large number of vehicles to block the main access road...Read More
Canada's Torex Gold Resources (TSX: TXG) announced this week that a team of unionized employees and management has been gradually restarting priority areas of its El Lim??n-Guajes mine, located in the state of Guerrero and one of the richest open-pit gold deposits in Mexico.In an official statement, the Toronto-based miner said that more employees will be called back as additional sections of the...Read More
http://www.mining.com/Wood Mackenzie sees copper demand increasing significatively over global supply in the next decade and, together with it, miners' need for reliable sources of water."As constant and high demand for copper leads to resources running out, copper grades will progressively diminish. As a result, water demand will increase because it will be necessary to process more material to o...Read More
Boreal Metals (TSX-V: BMX / Frankfurt: 03E) is a base & precious metals explorer in Scandinavia that is making a major push into the key green energy tech metal Cobalt ("Co"). The management team & Board have a remarkable amount of experience for a company with a market cap of $17 M plus ~$3 M in cash. [~52 M shares outstanding]In addition to 4 projects with exploration poten...Read More
Boreal Metals (TSX-V: BMX / Frankfurt: 03E) is a base & precious metals explorer in Scandinavia that is making a major push into the key green energy tech metal Cobalt ("Co"). The management team & Board have a remarkable amount of experience for a company with a market cap of $17 M plus ~$3 M in cash. [~52 M shares outstanding]In addition to 4 projects with exploration poten...Read More
Click Here to Watch the VideoDuring these unprecedented times of regular market highs due to quantitative easing and tax reform, demographics still play a role. Hear the full story from Harry Dent in the video.Click Here to Watch the VideoHarry Dent is a Fortune 100 consultant, new venture investor, noted speaker, bestselling author, and the founder and senior editor at Dent Research, where he ded...Read More
Ellis Martin chats with David Morgan as he looks ahead to the precious metals market for 2018.David Morgan is a world-renown precious metals aficionado. He is the creator of the Silver-Investor.com website and The Morgan Report, a monthly report that covers economic news, overall financial health of the global economy, currency problems and the key reasons for investing in precious metals. A dynam...Read More
Donald Trump threw out the rule book - or didn't read it - when he entered the oval office, and he's changed the way America looks at the Presidency. Former US presidential candidate Ron Paul discusses with the Newsmakers.Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Times bestsellers...Read More
"If we were only to shrink our balance sheet by ceasing reinvestments, it would probably take-to get back to levels of reserve balances that we had before the crisis-I'm not sure we will go that low, but we've said that we will try to shrink our balance sheet to the lowest levels consistentContinue...Read More
Mexico's Ministry of Economy has removed definitive countervailing duties on certain imports of graphite electrodes from China and the United Kingdom, according to the International Rebar Producers & Exporters Association (Irepas).Effective immediately, Mexico will not apply duties to graphite electrode imports from China or the UK, Irepas said on Wednesday January 17. Mexico imposed duties as hig...Read More