SHANGHAI, May 25 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar lost momentum and fell to a low of 93.6 last night as US President Donald Trump pulled out of the meeting with North Korea. It closed 0.2% lower at 93.78. Base metals rose for the most part with LME nickel leading the gains with a nearly 2% rise...Read More
(Updates with company's statement)By Sudarshan VaradhanTHOOTHUKUDI, India, May 24 (Reuters) - India's Tamil Nadu (NS:TNNP) state said on Thursday that it was seeking a permanent closure of a big copper smelter run by London-listed Vedanta Resources VED.L after 13 people died in protests demanding the closure of the plant on environmental grounds."The government's position is very clear, it...Read More
Northern Empire - The Sterling Gold Project Site VisitOn April 6th, I had the opportunity to visit Northern Empire's Sterling Gold Project, located north-west of Las Vegas, Nevada. My visit was great and really gave me a good perspective of the Sterling Gold Project's scale and its potential for further resource expansion.In particular, the Crown Block stood out as having great exploration poten...Read More
Mr. Wonderful, Kevin O'Leary, and Frank Holmes recently took different side the gold (bullion) vs. gold stocks. Gold and gold stocks are two different asset classes and saying which one is better. One is a commodity (Gold) and the other is equity (Gold Stocks). It's like comparing multiple championships winning athletes, Sydney Crosby (NHL), Lebron James (NBA), and Tom Brady (Football) and saying...Read More
SHANGHAI, May 25 (SMM) – Nonferrous metals, except for SHFE tin, rose across the board on Friday May 25. SHFE nickel led the increases with a gain of 1.8%. SHFE zinc and aluminium gained over 1%, lead and copper inched up,Most ferrous metals closed higher. Hot-rolled coil rose close to 1%, rebar and coke nudged up. Coking coal and iron ore dipped.Copper: The SHFE 1807 contract rebounded from...Read More
The positive NI 43-101 PEA determined the project to have an 18-year mine life with its estimated 32.7 million tonnes of ore with a diluted grade of 9.07% zinc-equivalent to be mined and processed at an average 4,900t per day.A start-up mining rate of about 5,000tpd will be achieved with conventional truck and shovel surface mining from the Tom and Jason deposits, with production the shifting unde...Read More
It said ongoing exploration efforts had included 1,000 holes comprising 76,000m drilled since December, which had extended the mineralised zone to an area 4km long and 3km wide.The drilling confirmed the high-grade nature of the Kari Pump target and expanded the mineralisation to 1.3km along strike and across a width of 160-200m, while remaining open to the north and northwest.The Kari Center disc...Read More
SHANGHAI, May 25 (SMM) – To improve air quality and regulate pollution for the Shanghai Cooperation Organisation (SCO) Summit in Qingdao, Shandong province, environmental protection authorities in Shandong and Jiangsu will undertake inspections from May 30-June 11. All of Shandong province will subjected to the probes while just Xuzhou and Lianyungang in Jiangsu will be affected. The ef...Read More
Beadell MD Simon Jackson made the point a number of times at the company's AGM this week that the key reason for shareholders to be invested in the stock was for the exploration potential.Read More
SHANGHAI, May 25 (SMM) – Copper: Copper prices gained last night as the US dollar index weakened. Struggling between several moving averages, LME copper is expected to move above them and trade at $6,860-6,920/mt today with support from longs. The SHFE 1807 contract hovered between the five- and 60-day moving averages last night with support from the 20-day moving average. It is likely...Read More
The miner has cut its 2018 production guidance to 505,000-515,000 ounces of gold, a 12% drop from the previous forecast's midpoint, and upped the expected all-in sustaining cost per ounce for the year by 15% to US$875-$890. Read More
Nexus says it expects to raise a further C$1.5 million through a "follow-on" placement of six million 25c units due to surplus demand for the initial share allotment.The company's share price finished up 4.76% Thursday at 33c, capitalising Nexus at C$4.82 million. The stock was trading at C$2.15 September 5, 2017.The 20 million new 15c shares, and 25c-priced follow-on units, have attached warrants...Read More
Speaking at ResourceStocks Sydney 2018, CSA Global's Mark Allen said there had been a fairly consistent deficit in zinc since the 400,000 tonne per annum Century mine in Queensland closed in 2015.Read More
Only one-third of the 15 - BHP, Zijin Mining, KAZ Minerals, Norilsk Nickel and Anglo American - reported positive production growth for the first three months of 2018.As a result, the top 15 companies' quarter-over-quarter production fell by 136,548 tonnes, or 4.8%.However, on year-on-year basis, production rose by 14.8%, or 345,725t, over the period, though the result was skewed by the interrupti...Read More
One of the initial aims of the programme is to set up a 4G LTE network underground to improve communications, and better enable digitalisation and automation.Speaking on the sidelines of a West Australian Mining Club lunch in Perth yesterday, CEO Stuart Tonkin said 4G trials were now underway and he hoped to have a system in place this year.During his presentation, he said it would provide a step-...Read More
The aim of the drilling was to convert the current inferred resources to the indicated and measured resource category and extend the total mineral resource to support the January prefeasibility study's expansion case.The partners have received assay results for all holes to be included in the revised mineral resources estimate, with 70%-owner MOD noting that all results received so far were in lin...Read More
An analyst team led by Colin Hamilton said in a new report the amount of copper needed for electrification combined with the slow build of new supply meant a supply gap could widen in 2025 and keep growing."While electric vehicles dominate growth conversations in metals and mining, renewable energy is significantly more important for copper, and expectations of solar and wind installations are con...Read More
THOOTHUKUDI, India, May 24 (Reuters) - India's Tamil Nadu state said on Thursday that it was seeking a permanent closure of a big copper smelter run by London-listed Vedanta Resources after 13 people died in protests demanding the closure of the plant on environmental grounds."The government's position is very clear, it doesn't want the plant to run," said Sandeep Nanduri, the top official of the...Read More
Consulting firm McKinsey put a note out on Thursday calling attention to "three surprising resource implications from the rise of electric vehicles".Number one is that oil & gas investors can sleep well for at least the next decade as the impact of the move away from internal combustion engines will only modestly impact demand for fossil fuels.In fact, demand for natural gas fired power stations -...Read More