Teck CEO Don Lindsay: "we had analysts and prognosticators telling us that we would never recover and that the industry was doomed. Next time you see that, buy Teck" | SubmittedOne year ago, the share price for B.C.'s largest mining company, Teck Resources Ltd. (TSX:TECK.B), had fallen below $4, and some analysts were predicting it would follow more than a dozen American coal-mining companies into...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, gained on Tuesday after reports that the US company's Indonesia operations will be temporarily exempt from new mining rules introduced by the Asian nation.Freeport shares jumped as much as 2.4% in early trade in New York, bringing gains so far in 2017 to nearly 25%. The pundits favourite regularly makes the most a...Read More
United States mines in 2016 produced an estimated $74.6 billion of raw mineral materials, a slight increase from 2015, the U.S. Geological Survey announced Tuesday.The information comes from the 40th annual Mineral Commodity Summaries report, the earliest comprehensive source of 2016 mineral production data for the world. It includes statistics on more than 88 mineral commodities that are import...Read More
Investing.com - Gold prices were higher in European morning trade on Tuesday, adding to the prior session's gains amid uncertainty over the outlook for U.S policy after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose $5.85, or around 0.5%, to $1,201.95 a troy ounce b...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More
CENTENNIAL, Colo., January 31, 2017 - Uranium Resources, Inc. (Nasdaq: URRE; ASX: URI), an energy metals development company, announced today that Matthew Hartmann has been promoted to the position of Director - Technical Services. Mr. Hartmann has served as Manager - Development Geology with URI for the past four years, and has 15 years of experience in the mining industry focused on mineral...Read More
Alvin Chong & Mark O'Dea battle to see who will be the last man standing from eating Spicy Ramen! Guess the Malay...avoid punishment!!! @markodea8BE SURE TO SUBSCRIBE FOR MORE SILLY VIDEOS & IF YOU WANT TO SEE ME DO SOMETHING NEXT TIME LEAVE A COMMENT BELOW AND I'LL TRY MY BEST :P !INSTAGRAM @MARKODEA8SNAPCHAT @MARKODEA8Ihttps://www.facebook.com/markodea8http://www.twitter.com/markodea8https://www...Read More
SHANGHAI, Jan 31 (SMM) – Nonferrous metals futures fell across the board on Wednesday as SHFE nickel led the loss with over 2% drop. Both lead and aluminium were down some 1%, while zinc and tin slipped.In the ferrous complex, coking coal went back up in the afternoon while coke and iron ore were down some 1%. Hot-rolled coil and rebar edged down slightly.Copper: The SHFE 1803 copper contrac...Read More
SHANGHAI, Jan 31 (SMM) – Copper scrap spot prices fell 100 yuan/mt on Wednesday January 31 as downstream customers started to close for the Chinese New Year holiday.The 1# bare bright copper in Guangdong province area traded at 46,500-46,800 yuan/mt today, SMM learned. Trading was limited as supply remained tight and seller were reluctant to let go cargoes easily. For editorial qu...Read More
SHANGHAI, Jan 31 (SMM) – Tongling Nonferrous Metals Group’s net profits for 2017 are expected to amount to 510-580 million yuan, up 183-222% from a year ago, the company said in a statement on Wednesday January 31. This is due to the increase in average processing fees of copper foil, the company noted. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For mor...Read More
SHANGHAI, Jan 31 (SMM) –Copper: Lacklustre downstream consumption has dragged the performance of copper futures of late but we see support for SHFE copper at 53,000 yuan/mt. LME copper, meanwhile, is set to trade at $7,050-7,110/mt. We see spot discounts stable today at 210-150 yuan/mt amid quiet physical market.Aluminium: LME aluminium will test support at the $2,200/mt level today while th...Read More
Amazon has patented a wristband that can track warehouse employees' hand movements and also use vibrations to control where they put their handsContinue...Read More
On Monday copper for delivery in March declined more than 1% in New York at $2.6545 per pound or $5,855 a tonne amid a general weakness on commodity and financial markets gripped by uncertainty surrounding the Trump administration's impact on the global economy and geopolitical stability. Last week copper touched its highest level since June 2015 above $2.70 a pound.Despite the pullback copper is...Read More
Nickel fell to a 13-year low of $7,725 a tonne ($3.50 a pound ) in February last year; then rallied to more than $11,700 by mid-November only to fall back nearly 20% to trade at a six-month low on Friday.Nickel, mainly used as an anti-corrosive in steel alloys, rallied in 2016 on the back of a clampdown on mines in the Philippines which took over as the main supplier to China following an ore exp...Read More
Frank discusses the gold and bond markets and how they have been driven by global uncertainty. Bond rates have begun to decline again which is bullish for the gold market. He talks about forward looking industrial indicators which are currently positive and how they are predictive of future global economic demand. Holmes says this is a good sign, and may be the underlying reason why commodities ha...Read More
Through a quietly released official announcement, the Federal Environment Secretary of Argentina, Sergio Bergman, informed that Argentina's National Glacier Inventory has just completed a glacier count in the controversial Famatina Mountains, and that the National Glacier Institute (the IANIGLA) recognizes the presence of glaciers and rock glaciers, as well as periglacial environment (permafrost),...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, were down on Monday despite reports indicating that Indonesia may issue a temporary permit valid for up to six months to the company's local unit, which could pave the way for the mining giant to resume exports of concentrate from its Grasberg mine in Papua.The temporary permit, valid for up to six months, would...Read More
Australia's biggest gold producer, Newcrest Mining (ASX:NCM) revealed Monday that gold production dropped in the last three months of 2016 as the company lowered production at one of its largest operations and sold a mine in Papua New Guinea.The company said gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620...Read More
NEW DELHI, Jan 30 (Reuters) - India will launch its biggest aero geophysical survey of minerals next month to unearth deep-seated resources such as gold and copper, as it seeks to develop its mining industry and reduce its dependence on imports.The survey will cover more than 200,000 square kilometres across seven states from Rajasthan in the west to the southeastern state of Andhra Pradesh, India...Read More