SHANGHAI, Jun 13 (SMM) –Copper: Copper prices are likely to retreat in the short term on both the technical and fundamental fronts. The US dollar rose overnight in anticipation of the interest rate hike on Wednesday, which suppressed copper prices. We expect LME copper to trade at $7,170-7,230/mt with the SHFE 1808 contract at 53,600-54,100 yuan/mt. Trading in the spot market remained sluggi...Read More
BHP (ASX: BHP) was 1.3% lower in afternoon Australian trade while in London, Rio Tinto (LSE: RIO) had closed down slightly in London and Glencore (LSE: GLEN) was 1.39% lower.The gold price has lost a few dollars since this time yesterday and was last worth about US$1,294 on the spot market.Barrick Gold (TSX: ABX) was off 0.17% in Toronto, while shares in Katanga Mining (TSX: KAT) gained more than...Read More
According to Battery, RCF made the decision "because the graphite market no longer meets its investment criteria".Read More
Construction began in the June quarter last year following the raising of A$228 million in capital, with the company saying at the time it expected concentrate shipments to start from the second quarter this year. Pilbara lauded contactor RCR Tomlinson and its subcontractors for delivering the processing facility "right on time" despite having to contend with three cyclones. In its curre...Read More
The turnaround for a 170-year-old business has been a slow and at times painful process which included an ill-fated attempt to enter the Asian market by re-developing an old Australian iron ore mine, before the return to its roots as a specialist supplier operating in the Great Lakes region.Read More
Established in 2014 by Sydney software engineers and ‘drone pilots' Francis Vierboom and Rory San Miguel with strong Silicon Valley investor support, Propeller is seeing the bulk of current new growth coming from the US market.Big California-based competitors such as Kespry and Airware have completed private equity raisings orders of magnitude larger than Propeller's in recent years.The latt...Read More
Katanga's 75%-owned subsidiary, Kamoto Copper Company (KCC), will also convert about $5.6 billion of its $9 billion debt into equity under the settlement, which will result in Gécamines dropping all legal action.Read More
The 56-year-old head of the Saudi Arabian diversified miner was interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published later this month.Ma'aden was formed in 1997 to develop the country's mineral resources. It was government owned until 10 years ago when 50% of its shares were floated on the Saudi Stock Exchange.Al-Madaifer said the company had...Read More
LUSAKA, June 11 (Reuters) - Vedanta Resources plans to double finished copper production at Zambia's Konkola Copper Mines (KCM) to 200,000 tonnes this year, the CEO of its Zambian unit said on Monday.KCM has ploughed more than $3 billion into the southern African country's copper mines since 2004, including a further $1 billion investment package announced last year to revamp and upgrade some mine...Read More
Brazil's President Michel Temer issued Tuesday two decrees introducing key changes to the country's 50-year-old mining regulations, aimed at making the local industry more competitive and sustainable.The changes, announced by MINING.com last week, seek drawing investment to the sector while implementing rules on the collection of higher mining royalties and their distribution.Mining is regulated i...Read More
Shares in Kinross Gold (TSX:G) (NYSE:KGC) jumped Tuesday in pre-market trading as the Canadian miner announced is going ahead with an initial expansion of its Fort Knox mine, located in one of Alaska's largest gold producing areas.The project, to be carried out over an area known as Gilmore, immediately west of Fort Knox, is expected to initially extend the mine life of the open-pit operation by...Read More
SHANGHAI, Jun 12 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index rose 0.04% to close at 93.6 overnight with the 10-year treasury yield climbing up. The Federal Reserve is widely expected to increase interest rates on Wednesday, which could further support the US dollar this summer.Base metals saw mixed performance ss...Read More
LUSAKA, June 11 (Reuters) - Vedanta Resources VED.L plans to double finished copper production AT Zambia's Konkola Copper Mines to 200,000 tonnes this year, the CEO of its Zambian unit said on Monday."Last year we produced just under 100,000 tonnes and I want us to get to 200,000 tonnes this year," Vedanta's Deshnee Naidoo told Reuters.Read More
Investing.com - Gold prices started the week higher in midmorning trade Monday while investors returned to their desks to digest the trade tension over the weekend at the G7 summit and looked ahead to the summit between the U.S. and North Korea as well as key policy decisions from the Federal Reserve and European Central Bank.At 10:27AM ET (14:27GMT), gold futures for August delivery on the Comex...Read More
(Adds company news and futures)June 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 16 points at 7,697 on Monday, according to financial bookmakers, with futures FFIc1 up 0.25 percent ahead of the cash market open.* ROLLS ROYCE: Rolls-Royce RR.L said on Monday a costly problem affecting the durability of a certain type of Trent 1000 engine had spread to another type and would requ...Read More
June 11 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 16 points at 7,697 on Monday, according to financial bookmakers.* COMCAST: U.S. cable company Comcast CMCSA.O is set to gain unconditional EU antitrust approval for its bid to buy European pay-TV company Sky SKYB.L . TESCO: Britain's food watchdog said it was investigating allegations that traces of meat had been found in "meat-...Read More
Last week index score: 45.96This week: 35.42 Zinc One Resources (TSX-V: Z) reported the final drill results from the high-grade zinc discovery in the Mina Chica zone of its Bongar?? zinc project in north-central Peru.The Oreninc Index fell in the week ending June 8th, 2018 to 35.42 from 45.96 a week ago as financings decreased, and broker action stayed away.Gold spent the week flirting...Read More
The metallurgical study will be incorporated into the Springpole prefeasibility study, which is scheduled for completion some time in 2019.A secondary function of the M3 study will entail an attempt to improve gold recovery in the current whole-ore carbon-in-pulp (CIP) flowsheet, as suggested in the October 2017 preliminary economic assessment (PEA), and to optimise recoveries for the flotation fl...Read More
Toronto-based Wesdome, which has a 30-year pedigree as a Canadian gold producer, is working to develop and explore the 300E Zone that was first discovered in 2015. The 300 Zone is located 300m - 400m north of the main 8 Zone structure, which has provided the bulk of the Eagle River mine's production over the past 20 years. It comprises two areas - the 300W and 300E Zones - with the 300E area...Read More
SHANGHAI, Jun 12 (SMM) – Nonferrous metals mostly traded weakly on Tuesday June 12. SHFE nickel led losses and closed 0.61% lower. Copper dipped 0.52%. Tin and aluminium inched down, while zinc and lead went up slightly. The ferrous complex rose across the board with coke leading the gains with a surge of nearly 4%. Coking coal jumped nearly 3%, rebar gained almost 2%, hot-rolled coil r...Read More