SHANGHAI, May 30 (SMM) – Suzhou city in Jiangsu province plans to promote the sale of 9,000 new-energy vehicles (NEVs) and to build 2,245 new charging points in 2018, according to a notice by the Suzhou Economic and Information Technology Commission on May 11. The promotion target was distributed to local districts including Zhangjiagang, Changshu, and Kunshan. In 20...Read More
The company had the option to acquiring the remaining stake in the prospecting licences, which it has now exercised, while terminating the existing joint venture agreement.Walkabout executive chairman Trevor Benson said the acquisition would add value to the company and showed management was confident in the project and progression in Tanzania.The company is still waiting for Lindi Jumbo's mining...Read More
SHANGHAI, May 30 (SMM) – Some 2,805 mt of copper scrap imports received the green light in the 13th batch of approvals for restricted solid scrap material imports, according to the solid waste management centre of China’s Ministry of Ecology and Environment.This brought the total approved copper scrap imports this year to 485,100 mt, down 83.9% from 11 batches last year.Two companies i...Read More
A second pour is scheduled for the end of this week. Managing director Mike Dunbar said to say the company was pleased by Gascoyne's development from a junior with less than 200,000 ounces of resources on listing in 2009 to today's modern mining operation "would be a massive understatement". He praised GR Engineering achieving practical completion ahead of schedule and under budget, and...Read More
SHANGHAI, May 30 (SMM) – Copper: Copper prices dipped overnight amid bearish sentiment as US-Sino trade tension re-emerged and as Italy entered a political crisis. LME copper is expected to trade at $6,800-6,860/mt with the SHFE 1807 contract at 51,200-51,700 yuan/mt today. Spot discounts are seen at 90-30 yuan/mt as a deadlock continues between sellers and downstream buyers.A...Read More
The PEA set out an after-tax NPV (7% discount) of US$338.3 million, an IRR of 50.8%, a payback period of 1.72 years, with an initial capex of $116.76 million including a 25% contingency.It outlined a 13.5-year mine life producing an average 9.65 million pounds of vanadium pentoxide at an all-in sustaining cost of $6.28/lb and estimated an average selling price of $12.73/lb.Monday's V2O5 price was...Read More
Orica backed a US$12 million fund-raising by DataCloud earlier this year that was also supported by Washington DC-based Aperture Financial Group. DataCloud director Adam Mooney is vice president for technology, analytics and automation at Orica Mining Services.DataCloud CEO Thor Kallestad said inexpensive industrial Internet of Things technologies, such as equipment sensors, and cloud computing se...Read More
Hummingbird indicated the deaths were suffered by a "group of people (who) were acting unilaterally to stop the company carrying out initial site preparation work at Komana West". The company added that two of the deceased "are believed not to be Malian nationals". Ausdrill, the ASX drilling and mining contractor operating at the project - via subsidiary African Mining Servi...Read More
The group says modelling and optimisation of production processes as part of its Big Data strategic initiative was on track for completion this year. The two-year program of developing and implementing new "mathematical models" will underpin ongoing system improvement targeted via 16 projects being undertaken across the company's production divisions.MMK said about 65 million rubles (RUB) was spen...Read More
Increased demand for battery materials used in electric vehicles and energy storage is what's supposed to reignite interest in the mining sector now that the China-induced supercycle in commodities demand are levelling off.Prices for lithium and cobalt have soared. Graphite and rare earth prices are making a comeback. Nickel, where EV-related demand is still tiny, has been caught up in the euphori...Read More
(Bloomberg) - Mining companies in the Democratic Republic of Congo told the government it will lose more than $3 billion over a decade and face legal action if plans to implement a new industry code proceed.Miners including Glencore Plc and Randgold Resources Ltd. are demanding the government abandon aspects of the legislation approved by President Joseph Kabila in March. Discussions about the re...Read More
(Bloomberg) - India faces a copper supply shock after a state government ordered billionaire Anil Agarwal's Vedanta Ltd. to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company's shares fell.The Tamil Nadu government directed the southern state's pollution control board to seal the 400,000 metric-ton-per-year...Read More
Australia's Avanco Resources (ASX: AVB) said Tuesday it had suspended plant operations and most mining activities at its Antas copper-gold asset in Brazil, as a result of a crippling nine-day strike that has led to major shortages and disruptions in Latin America's largest nation.The company had warned last week that operations at the open pit mine would be affected by the strike, as fuel and cons...Read More
Newmont Mining (NYSE:NEM) has agreed to sell its full royalty portfolio to Canada's Maverix Metals (TSX-V: MMX), a precious metals royalty and streaming junior, in a transaction that gives the US miner $17 million cash and a 28%-stake in the Vancouver-based company.The Greenwood Village, Colorado-based miner, the only gold company that forms part of the S&P500 index, has a portfolio of 54 preci...Read More
SHANGHAI, May 29 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index touched a five-month high last night at nearly 94.5 before it closed 0.18% higher at 94.41, as the US state department confirmed that a US-North Korea meeting will be held as scheduled. A weakening euro, to a low in six and a half months, also buoye...Read More
(Adds company's response)By Sudarshan VaradhanTHOOTHUKUDI, India, May 28 (Reuters) - An Indian state on Monday ordered the permanent closure of a copper smelter controlled by London-listed Vedanta Resources VED.L after 13 people protesting to demand its shutdown on environmental concerns were killed last week."We have taken a decision to permanently shut down the plant and today issued governmen...Read More
(Corrects number in last line, adds dropped word in paragraph one)By Sudarshan VaradhanTHOOTHUKUDI, India, May 28 (Reuters) - An Indian state on Monday ordered the permanent closure of a copper smelter run by London-listed Vedanta Resources VED.L after 13 people protesting to demand its shutdown on environmental concerns were killed last week."We have taken a decision to permanently shut down th...Read More
NEW DELHI, May 28 (Reuters) - India's Tamil Nadu (NS:TNNP) state has ordered a permanent closure of a big copper smelter run by London-listed Vedanta Resources VED.L , its chief minister said on Monday, after protests demanding its shutdown killed 13 people last week."We have taken a decision to permanently shut down the plant and today issued government orders to do the same," Edappadi K. Palan...Read More
Investing.com - Gold prices were lower for the second consecutive session on Monday, falling further below the $1,300 level amid waning safe haven demand on the back of easing geopolitical tensions.Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $7.40 or 0.56% to $1,296.40 a troy ounce by 05:03 AM ET (09:03 AM GMT), not far from an overnight low o...Read More
NEW DELHI, May 28 (Reuters) - India's Tamil Nadu (NS:TNNP) state deputy head said on Monday his government would take all steps to permanently shut a copper smelter run by London-listed Vedanta Resources VED.L after deadly protests demanding its closure on environmental grounds.Residents and environmental activists say emissions from the plant, India's second biggest, are polluting the air and w...Read More