The company, formerly known as Ortac Resources, has acquired a further 6% interest from Terra Metals in exchange for 17.5 million new ordinary shares of no par value in Arc Minerals.It became Zamsort's largest shareholder in mid-May when it upped its holding from 14% to 49% by acquiring 35% of Terra's shares in Zamsort for 102.1 million new ordinary shares.Arc also holds a convertible loan note in...Read More
SHANGHAI, Jun 5 (SMM) –Copper: Copper prices rose overnight as the US dollar weakened. Labour negotiations at BHP’s Escondida copper mine in Chile, the world’s largest copper mine, which began last week are also likely to weigh on supply. In light to the shutdown of the second largest copper smelter in India, SMM remains bullish on copper prices in the short term due to the expec...Read More
London-listed Petropavlovsk (POG) is in the midst of a major shareholder battle that could see the whole board booted at the June 29 annual general meeting.Read More
What they fail to foresee is that by providing money at a low cost of capital they oversupply investment capital, facilitating market over-supply.The end result is that despite increased demand, commodity prices lag, leaving investors with sub-optimal returns.Even if investors' expectation for supply deficits turns out to be true, there is no reason why they should build-in higher commodity prices...Read More
DMT is calculating an updated resource estimate for the project, which is expected to be released soon, and which will form the basis of the PEA. The resource update is expected to entail an increase of tonnage based on the exploration work undertaken over the past 18 months, and an upgrade of resource classification, in line with Canada's National Instrument 43-101 guidelines.Read More
See these two Richard Schodde graphs.Ultimately, however, mineral exploration underwent a very significant structural change because of this progressive shallow ore deposit depletion. This structural change was signalled by the fact that, for the first time in modern history, a very strong multi-year increase in mineral exploration expenditure was not answered by a parallel increase in ore deposit...Read More
An award-winning journalist who has been covering the Canadian, Americas and global mining investment markets for more than a decade, Lazenby was most recently deputy editor, North America, for Mining Weekly.He has been based in Canada for the past six years and has travelled extensively to report on conferences, events, projects, mines and companies.Prior to his time in Canada, Lazenby worked in...Read More
ICMM CEO Tom Butler has provided the foreword to the "Mining Journal Global Leadership Report: Preparing for transformation" which is being released later this month.The former soldier who went into the oil and gas industry then mining finance took on his current role in mid-2015.In his foreword, he notes the growing importance of stakeholder engagement, and mining with principles."It has been est...Read More
If you are in the mineral exploration business you'll likely remember the buzz created by Graham Heinson's "Fingers of God" cross-section of crust in the Olympic Dam province. His magnetotelluric (MT) work revealed slender, conductive fingers of crust swirling up from the mantle to beneath Olympic Dam, Wirrda Well and two other locations coinciding with known mineralisation.Read More
Despite the fact that top coal producers are receiving the highest profits in six years from their coal mines, Rio Tinto (ASX, LON, NYSE: RIO) continues to work towards accomplishing its mission of completely divesting from its coal assets.In a media brief, the world's No.2 miner announced that it had completed the sale of its 75 percent interest in the Winchester South coal development project in...Read More
Even best-case, early roll-out of new cobalt-light batteries won't solve supply issues Cobalt, a crucial element in batteries for cellphones and electric vehicles, has been drifting lower since hitting near 10-year peaks on the LME in March, but is still up nearly fourfold from its 2016 trough.Mindful of the fact that the volatile commodity reached $115,000 a tonne a decade ago, long before EV de...Read More
MELBOURNE (Reuters) - Metals traders are moving jobs for the first time in years as a price recovery spills into the trading sector, and more hires are expected as brokers eye opportunities from China's mainland exchanges opening to investors abroad.The signs of an uptick follow a six-year industry shake-out as years of declining prices led to the exit of major traders such as Barclays and Deutsch...Read More
Source: Maurice Jackson for Streetwise Reports 06/01/2018Matthew Gili, CEO of Nevada Copper, speaks to Maurice Jackson of Proven and Probable about the company's plans to go into production.Maurice Jackson: Today we will highlight the next mid-tier production company. I'm speaking of Nevada Copper Corp. (NCU:TSX; NEVDF:OTC.MKTS), North America's next copper producer. Joining us for a conversat...Read More
BEIJING, June 4 (Reuters) - Aluminum Corp of China , known as Chinalco, at the weekend said it had started work on a $1.3 billion expansion of its Toromocho copper mine in central Peru. The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually, Chinalco Chairman Ge Honglin said at a groundbreaking ceremony in Peruvian ca...Read More
SHANGHAI, Jun 4 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index closed at 94.179 last Friday, slightly down over the week. The index registered a six-month high of around 95.02 in the middle of last week and then lost the gains. The strong performance of US nonfarm payrolls further fuelled the anticipation of...Read More
Investing.com - Gold traders will keep their focus on more trade-related headlines in the coming week, as President Donald Trump prepares to meet world leaders at the G7 summit in Canada.Fresh geopolitical developments surrounding President Trump's planned meeting with North Korean leader Kim Jong Un slated for later this month will also be on the agenda.With a lack of major economic reports in th...Read More
The measured resource estimate was increased by 56%, with the overall measured and indicated resource up 12% to 5.71 million tonnes containing 381,000 ounces of gold at 2.08g/t, based on a 1g/t cut-off grade.Singida now has a total project resource of 12.4 million tonne containing 725.000oz at 1.84g/t, including an inferred resource of 6.57Mt containing 344,000oz at 1.63g/t.Shanta said only two of...Read More
SHANGHAI, Jun 4 (SMM) – Most nonferrous metals weakened on Monday June 4 except for SHFE copper and aluminium. SHFE tin fell 2%, zinc closed 0.62% lower, and lead and nickel inched down. The ferrous complex dipped across the board as coke led the loss with a drop of nearly 3.5%. Iron ore, coking coal, and hot-rolled coil fell over 1%, and rebar edged down. Copper: SHFE 1807 co...Read More
Glenn Kondo has joined Orca after being announced as CFO at Strongbow Exploration in March but not making it to the June 1 start date.Before that, he served in the same role at fellow Lukas Lundin-linked company Lucara Diamond Corp.Orca CEO Rick Clark said Kondo's experience in the team that brought the Karowe mine to production would be helpful as his company developed the Block 14 gold project.O...Read More