Nevsun this week held a ground-breaking ceremony at Timok for the start of an exploration decline at "one of the world's best undeveloped copper projects", that was attended by company and government dignitaries.Read More
SHANGHAI, Jun 6 (SMM) – To ease concerns of shortages of charging stations, Guangdong Power Grid will invest 2.7 billion yuan to build over 10,000 charging points across the province by the end of 2020, Chinanews reported on Tuesday June 5.The company will also work with the Guangdong Provincial Communication Group to develop charging infrastructure along expressways across th...Read More
The opposite seems more likely, according to the highly-regarded investment bank, Credit Suisse, which reckons that copper is heading for surplus this year and a price fall.Read More
SHANGHAI, Jun 6 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat over the SHFE 1806 contract in the Shanghai market on Wednesday June 6. This compared with a discount of 30 yuan/mt to a premium of 30 yuan/mt on Tuesday June 5.The SHFE 1806 contract traded robustly this morning. It gained over 700 yuan/mt from the previous day to close at 52,580 yuan/mt in the mornin...Read More
Jefferies analysts lead by Christopher LaFemina said "rumours of coal's death are premature" and they increased their seaborne price forecast for Australian 6,000 kcal/kg NAR FOB Newcastle thermal coal to US$105 per tonne for the rest of 2018 from the previous $90/t.Read More
SHANGHAI, Jun 6 (SMM) –Copper: Trading levels of copper prices climbed up as the US dollar weakened and as the worries over supply from the Escondida labour negotiation sustained. The SHFE 1807 and 1808 contracts surged overnight and are expected to extend their gains today. We see LME copper trading at $7,100-7,160/mt today with the most traded SHFE contract at 52,800-53,300 yuan/mt. A...Read More
Dowling shared his thoughts on transformation in the industry for the "Mining Journal Global Leadership Report: Preparing for transformation" report being released later this month.In the wide-ranging interview, Dowling used the example of driverless trucks and autonomous vehicles as one area of development."My personal view of this is that we can't imagine what's coming at us," he said."I think t...Read More
The gold major released its 16th annual sustainability report this week assessing the company's environmental and social performance for 2017.It did not meet its 2017 total reportable injury frequency rate (TRIFR) aim of 0.32 but said its result of 0.35 was a 12.5% reduction from 2016 and Barrick's safest year on record.However Dushnisky said this result was marred by the tragic deaths of Eulogio...Read More
Production at Escondida began in 1990 and peaked in 2007 at more than 1.4 million tonnes of copper. Image: BHPCopper jumped 3.7% in New York on Tuesday to trade at $3.25 a pound ($7,165 a tonne), the highest since end-February, as worries about supply disruptions in key producing region resurface.Workers at the Escondida copper mine in Chile put down quite a marker in the third round of contract n...Read More
Every year, Freeport-McMoRan Inc. dumps tens of millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come.The discharge of what are called tailings, the leftovers of mineral extraction, is perfectly legal under Freeport's current contract with the government. But recently, after...Read More
The growing adoption of electric vehicles (EVs) is expected to cost Germany's key auto industry about 75,000 jobs by 2030, a study released Tuesday shows, with parts suppliers set to suffer the most.The adoption of EVs will lessen the importance of petrol- and diesel-fuelled cars, an industry where German carmakers have built a reputation for decades and which currently employs about 840,000 peop...Read More
It said the drilling had identified copper sulphide-rich mineral deposits, and the new hydrothermal breccias which contained high-grade zinc and remained open at depth.Among the highlights, Sierra intercepted 57m at 1.86g/t silver, 0.54% lead, 0.28% copper and 9.53% zinc, from 92.2m, outside the Yauricocha Fault contact zone.The company has drilled four holes to date from the 1070 level in the Con...Read More
SHANGHAI, Jun 5 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index weakened overnight but rebounded above 94 after the US-North Korea summit was finalised.Both LME and SHFE metals rose across the board overnight except for tin. SHFE tin dropped close to 1% and LME tin dipped. LME lead rose over 1%, and SHFE lead gained o...Read More
(Adds company news and futures)June 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 22 points higher at 7,723 on Monday, according to financial bookmakers, with futures FFIc1 up 0.35 percent ahead of the cash market open.* Virgin Money/CYBG: The acquisition of British bank Virgin Money VM.L by lender CYBG Woodward Inc WWD.O with net proceeds totalling 673 million euros. EMMERSON: Em...Read More
June 4 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 22 points higher at 7,723 on Monday, according to financial bookmakers.* ASTRAZENECA: AstraZeneca Plc AZN.L plans to disclose payments to doctors in all countries in which it operates in a move that will pile pressure on its rivals to follow suit, The Times reported. POUNDWORLD: British discount retailer Poundworld is close to a res...Read More
SHANGHAI, Jun 5 (SMM) – Nonferrous metals saw mixed trading on Tuesday June 5. SHFE lead led the gains and closed nearly 3.6% higher, copper rose nearly 1%, and zinc inched up. Tin fell over 1%, nickel dipped, while aluminium went flat. In the ferrous market, iron ore jumped over 1.7%, rebar and hot-rolled coil went up slightly, while coke fell over 1% and coking coal dipped 0.76%....Read More
The Perth-based diversified miner overnight signed an agreement with Toronto-listed Silver Bull Resources on the Sierra Mojada zinc-silver project in Mexico.Read More
In March, it said it was raising upwards of A$5 million (US$3.86 million) for exploration in Colombia.The company hopes the diamond drilling programme will confirm and expand the gold mineral system previously drilled by a previous owner, as well as test a previously undrilled geophysical anomaly.Of the three diamond core holes previously drilled, the best hit a 384m intercept grading 1.1g/t gold,...Read More