SHANGHAI, Jun 22 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index slipped and closed at 94.85 overnight with weaker-than-expected US economic indicators. US treasury yields also fell.LME metals saw mixed trading. LME zinc dropped over 2% and fell to the lowest since August 2017. Lead and tin dipped while nickel and alu...Read More
Investing.com - Gold prices remained at six-month lows on Thursday, as trade tensions between the U.S. and China resurfaced.Comex gold futures for August delivery were down 0.46% to $1,268.60 a troy ounce as of 10:57 AM ET (14:57 GMT).Tensions between the U.S. and China continue, as the two largest economies in the world faced a tit-for-tat over trade tariffs. Earlier this week U.S. President Dona...Read More
Assistant professor in economic geology at the University of Las Vegas, Simon Jowitt said ‘peak mining' was probably still decades away.Read More
SHANGHAI, Jun 22 (SMM) – Nonferrous metals futures saw mixed trading today as SHFE nickel led the gains with a rise of nearly 1.9%. Copper and aluminium inched up, while zinc slumped nearly 1.3%. Other base metals edged down. The ferrous complex, except for iron ore, dipped across the board. Coking coal lost almost 2%, coke dropped over 1.4%, rebar closed nearly 1.3% lower,...Read More
SHANGHAI, Jun 22 (SMM) – Treatment charges (TCs) of imported clean copper concentrate for the week that ended Friday June 22 rose $2/mt from a week ago, and stood at $81-87/mt, SMM assessed.This marked the fifth consecutive week of increase. Read More
The US$185 million development has an after-tax net present value of US$405 million and an internal rate of return of 49%, with a 16-month payback.Read More
SHANGHAI, Jun 22 (SMM) – The operating rate across China's copper rod producers that use scrap as raw materials is expected to dip further in June to 66.3%, an SMM survey found. This will be down 2.36 percentage points from May. The operating rate in May stood at 68.7%, 3.43 percentage points lower from April. Meanwhile, operating rate for copper rod producers using refined cop...Read More
The buyer is Shanghai-listed Chifeng Jilong Gold Mining Co.MMG initiated a strategic process on the asset in October 2017, given its mine life only runs to 2020.However, there is the potential to extend the mine as a primary gold operation and MMG thought Sepon would be better off in the hands of a gold-focused company.MMG CEO Jerry Jiao said the company was pleased to transfer its 90% stake in th...Read More
Orion will pay $1.47 per share, a 62% premium to Wednesday's closing price, with certain members of Dalradian management, Sean Roosen and Osisko Gold Royalties to retain their combined 20.4% stake.Dalradian shares spiked 59% in Toronto Thursday, capitslising the company at $515.5 million.Dalradian owns the high-grade Curraghinalt gold development project in Northern Ireland.Orion chief investment...Read More
SHANGHAI, Jun 22 (SMM) –Copper: LME copper moved around the daily moving average overnight with firm support at the $6,800/mt level, while the SHFE 1808 contract came off after hitting 51,880 yuan/mt. We see strong support for both LME and SHFE copper prices in the short term from the technical point of view, but copper supply in China has increased sharply amid sluggish demand plagued by hi...Read More
The 34-month contract is for a further cutback at the Rocky's Reward pit and work at a satellite pit.The scope included mine planning and engineering, drill and blast, mining of overburden and ore, and rehandling services to the Leinster processing facility.CIMIC CEO Michael Wright said the award continued Thiess' strong working relationship with Nickel West."We're pleased to continue our support...Read More
MACA said the agreement included a deed of release from all claims by either party and a payment plan that would allow MACA to recover A$61 million by June 2022. The amount covers a $9.5 million loan, trade receivables, interest and termination costs. MACA will retain ownership of the majority of the plant and equipment being used at Tucano and will seek to redeploy the 370 personn...Read More
Chemical makers BRAIN and CyPlus said this week scaled up (from 100 litres to one tonne) testing of "market-relevant products for the global mining industry" showed its bio-based production process was nearly ready for industrial application.Extraction of precious metals from the ores was based on the use of naturally occurring and enhanced microorganisms from BRAIN BioArchives, the former said.Th...Read More
UPDATE: 22 June 2018OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners.Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezuela - and pressure from the US government to address high prices, OPEC delivered an agre...Read More
LONDON/HOUSTON/SINGAPORE, June 22, 2018 - OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners. Ann-Louise Hittle, vice president, macro oils, said: "Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezu...Read More
UPDATE: 22 June 2018OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners.Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezuela - and pressure from the US government to address high prices, OPEC delivered an agre...Read More
LONDON/HOUSTON/SINGAPORE, June 22, 2018 - OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners. Ann-Louise Hittle, vice president, macro oils, said: "Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezu...Read More
LONDON/HOUSTON/SINGAPORE, June 22, 2018 - OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners. Ann-Louise Hittle, vice president, macro oils, said: "Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezu...Read More
LONDON/HOUSTON/SINGAPORE, June 22, 2018 - OPEC has delivered a compromise that shows the commitment to unity that Saudi Arabia - and Russia - hoped for. Both countries worked hard to address the various issues facing the group and its non-OPEC partners. Ann-Louise Hittle, vice president, macro oils, said: "Faced with an uncertain supply outlook for two key OPEC members - Iran and Venezu...Read More