GABORONE, June 7 (Reuters) - Private equity firm Cupric Canyon will begin construction of its Khoemacau copper project in Botswana in October, with first sales of the metal expected in 2021, a company executive said on Thursday.Sparsely-populated Botswana is the world's top diamond producer by value, but the government of the southern African country is trying to diversify the economy to reduce it...Read More
Brazil's President Michel Temer is set to issue a decree next week introducing key changes to current mining regulations, aimed at making the country's industry more competitive and sustainable.The executive order will technically be a reinterpretation of 50-year-old regulations, rather than a new law, Adriano Trindade, attorney specializing in mining rules from Pinheiro Neto Advogados told MININ...Read More
World's No. 2 miner Rio Tinto (ASX, LON:RIO) has joined forces with Minmetals, one of the biggest Chinese mining companies, to explore for mineral deposits first in the Asian country and then the rest of the world .The 50-50 joint venture with state-backed Minmetals follows a technical agreement signed in November, when both parties committed to collaborative search for new ore bodies."The formali...Read More
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday.The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened...Read More
Australian copper-gold miner OZ Minerals (ASX:OZL) moved closer to having control of takeover target Avanco Resources (ASX:AVB) Thursday, as it declared its cash and shares offer for the for Brazil-focused explorer "unconditional."The Adelaide-based company is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418 million (a...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
* FTSE 100 up 0.3 percent* Miners drive strongest gains* Smurfit rises as U.S. rival drops bid* RPC looking to sell assets, stock tumbles (Updates prices, adds details, quotes)By Danilo Masoni and Helen ReidMILAN/LONDON, June 6 (Reuters) - Gains among mining stocks on stronger metal prices helped British shares outperform a sluggish European equity market on Wednesday, while packaging firm RPC sol...Read More
* Hawkish ECB comments lift euro, bond yields* Consumer groups dip, banks rise* Copper prices push commodity stocks up(Adds closing prices)By Kit Rees and Julien PonthusLONDON, June 6 (Reuters) - European stocks closed flat on Wednesday at the end of a choppy session during which hawkish comments by the European Central Bank lifted the euro and bond yields.The pan-European STOXX 600 .STOXX index e...Read More
* FTSE 100 up 0.3 percent* Miners among biggest gainers* Smurfit leads gainers as US rival drops bid* RPC looking to sell assets, stock tumblesBy Danilo MasoniMILAN, June 6 (Reuters) - Gains among mining stocks on the back of stronger metal prices and a surge in packager Smurfit Kappa SKG.L propped up British shares on Wednesday, helping them outperform a sluggish European equity market.The commod...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, June 6 (Reuters) - European stocks edged higher on Wednesday, underpinned by gains in tech and commodity-related stocks, although trading was cautious amid worries over Italian debt and global trade.The pan-European STOXX 600 .STOXX index was up 0.1 percent by 0720 GMT, while Germany's DAX .GDAXI advanced 0.2 percent a...Read More
SHANGHAI, Jun 7 (SMM) – Nonferrous metals, except for SHFE zinc, rose across the board on Thursday June 7. Copper led the gains and jumped nearly 2.2%, aluminium rose nearly 2%, and lead, tin, and nickel inched up. The ferrous complex also soared except for iron ore. Coke gained over 2%, coking coal grew over 1%, rebar rose nearly 1.5%, and hot-rolled coil inched up close to 1%.Copper:...Read More
SHANGHAI, Jun 7 (SMM) – Copper smelters in Yunnan province maintained normal operation as of Thursday June 7 after inspection teams from the central government settled in the province on Tuesday June 5, SMM surveyed. This suggested that previous rectifications in Yunnan were effective. Copper mines in the area were also little affected as most small and medium-sized mines...Read More
As part of the prefeasibility study currently underway, the company has confirmed it will use sulphuric acid leaching to extract lithium and boron from crushed rock into a pregnant leach solution.Read More
The Sukhoi Log scoping study has arrived just over a year after Polyus took over majority control of the project.Read More
SHANGHAI, Jun 7 (SMM) – Some 15,000 mt of blister copper output will be affected in Jiangxi province as inspection teams from the central government settled in the province on Friday June 1, SMM estimates. The inspection, scheduled for a month, will review the province's previous rectifications. Blister copper production capacity across smelters in Jiangxi t...Read More
An ambitious 20,500m drilling campaign spread over 28 holes will test high-priority regional targets outside of the immediate Gryphon resource area will get underway this week. The campaign would also follow up on high-grade mineralisation and test geophysical anomalies on geologically favourable trends, the company said on Wednesday.Read More
SHANGHAI, Jun 7 (SMM) –Copper: Copper prices extended their gains overnight. LME copper managed to stand above the $7,200/mt level and hit the highest level in three and a half months. The SHFE 1808 contract broke the 54,000 yuan/mt level with positive technical indicators. As the US dollar weakened and without further development in the Chile Escondida labour negotiation, copper prices...Read More
The company said this morning that it had paid A4c (US3c) per share for a 15% stake in Atlas.Read More
According to a term sheet, Hexagon is aiming to place around 32 million shares at A19c per share to raise at least $6 million, but the company will consider placing an additional $1 million depending on interest.Cornerstone support has already been secured.The issue price for the placement is 19c per share, an 8% discount to the 10-day volume-weighted average price of Hexagon shares.Foster Stockbr...Read More