While summer drilling programmes are ramping up across North America, and other parts of the hemisphere, Phoenix Global Mining's (AIM: PGM) confidence in not only copper and cobalt prices, but the "environment" in which the company is progressing plans to revive the old Empire mine, four miles out of tiny Mackay in Idaho's Big Lost River valley, is reflected in the US$11.25 million market-cap comp...Read More
By Sudarshan VaradhanCHENNAI, June 10 (Reuters) - Indian police are only arresting people involved in protests against a copper smelter owned by Vedanta Resources VED.L where there is videographed evidence of them indulging in "anti-social" activities, a senior state minister told Reuters.More than 100 people have been arrested, some in early morning and late night raids, since police opened fir...Read More
Investing.com - Gold prices look likely to remain vulnerable ahead of the upcoming Federal Reserve meeting on Wednesday, when it is widely expected to raise interest rates in what would be its second rate hike this year.Expectations for higher interest rates tend to be bearish for gold, which struggles to compete with yield-bearing assets when rates rise.The week will also bring updates on U.S. in...Read More
The shares surged 25% intraday before closing up 18.3% at C35c, capitalising Altiplano at about C$20 million. They got to 56c in January after touching 13c late last year.Altiplano is busy with two concurrent bulk sample campaigns on the 395m and 401m levels. The undertaking has extracted 10,585t of copper-iron-gold vein material, of which 6,020t have been shipped for toll milling, and 3,655t rema...Read More
She has 13 years' experience as a solicitor in markets relevant to the recently listed Panthera's activities and the company said it would benefit from her corporate management experience, including financing, strategic investment, project management, debt financings, asset sales and takeover defence.Apthorpe was selected as one of the Top 100 Global Inspirational Women in Mining due to her leadin...Read More
SHANGHAI, Jun 11 (SMM) – Nonferrous metals saw mixed trading on Monday June 11. SHFE nickel led losses and closed 0.79% lower. Tin dipped 0.52%, and aluminium inched down. Zinc, lead, and copper went up slightly.The ferrous complex gained for the most part. Iron ore rose 0.64%. Rebar and hot-rolled coil inched up, while coking coal lost 0.76% and coke edged down.Copper: The SHFE 1808 contrac...Read More
Los Andes closed the first tranche in early May, issuing 7.87 million units to RCF VI at 33c each for gross proceeds of C$2.6 million (US$2 million).Read More
SHANGHAI, Jun 11 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat to the SHFE 1806 contract in the Shanghai market on Monday June 11. This compared with a discount of 60-20 yuan/mt on Friday June 8.The SHFE 1806 contract strengthened this morning. It gained 260 yuan/mt to close at 53,800 yuan/mt in the morning trading session. Prices of the 1806 contract remained 20...Read More
SHANGHAI, Jun 11 (SMM) – Sales of new-energy passenger vehicles in China amounted to over 92,000 units in May, up 140% year on year and up 30% month on month, according to wholesale data from China Passenger Car Association (CPCA) released on Friday June 8.In May, sales of pure electric passenger vehicles rose 130% from a year ago and stood at 73,072 units. Sales of plug-in hybrid elect...Read More
Beowulf Mining is working in both Sweden and Finland. CEO Kurt Budge remains upbeat about the company's progress, despite ongoing problems advancing the Kallak magnetite iron ore project in Sweden's north.Read More
SHANGHAI, Jun 11 (SMM) –Copper: LME copper hit a high of $7,333/mt last Friday as the SHFE inventories fell and as China’s May imports of unwrought copper and copper products surged 22% year on year. It then edged down slightly before closure. The SHFE 1808 contract was bolstered by longs to close at 54,420 yuan/mt from a low of 54,210 yuan/mt. Open interest of SHFE copper rose over 14...Read More
Once the agreement goes through, Kefi will own 54% of Tulu Kapi, with the syndicate holding 23% and Ethiopia's government holding the remaining 23%.Read More
It placed 1.15 billion ordinary shares at 0.013p per share, with 20% shareholder Suay Chin International subscribing £1.2 million for another 923.1 million shares, bringing its total shares in Kodal to 2.2 billion, representing 29% of the issued share capital.The subscription shares will be issued and admitted to trading on AIM after receipt of the proceeds from Suay Chin by 6 July.The remai...Read More
The Sage uranium deposit is believed to have vanadium grades of up to 1.5%, among the highest in the world.Average vanadium oxide prices rose to about US$13.60/lb in the first quarter of this year, up 164% year-on-year.Sage, which previously produced in 1990, features 94 unpatented mining claims.A 2011 technical report put historic resource estimates of about 4.8 million pounds of vanadium at an a...Read More
The company agreed to buy the Yukon's only operating mine from Capstone Mining in February for $37.5 million in cash and 9.9% of its equity.At the time it suspended the trading of its shares and said it wanted to raise $50 million in equity to fund the acquisition, working capital and resource development work to boost the mine life.It said the $30 million prepayment facility would be available im...Read More
Garofalo said the commercialisation process stemmed from pursuing the best technological solutions for each of its projects.He shared his perspective on transformation and an insight into the company's progress for the "Mining Journal Global Leadership Report: Preparing for transformation" being published later this month."We have a robust technical services team and technological team; we have 20...Read More
The move comes days ahead of the DRC Mining Week expo and conference being held in Lubumbashi from Wednesday, where Randgold Resources CEO Mark Bristow is slated to speak.Randgold (LSE: RRS) has been at the forefront of the mining delegation pushing for changes to the code, which is set to increase royalties, introduce a super profits tax and remove a 10-year amnesty on new rules for existing mine...Read More
The union at BHP's Escondida copper mine in Chile said on Friday that it saw a "favorable scenario" for reaching a deal on a new labor contract with the company, citing higher copper prices.In a letter to its members published on its website, the union at the world's largest copper mine said BHP has promised to respond to its recent proposal for a new contract by 3pm local time (1900 GMT) on Monda...Read More
Regulations to implement Congo's new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action.Prime Minister Bruno Tshibala signed the regulations into law overnight, his adviser Patrick Mutombo Buzangu told Reuters by telephone, but gave no further details.The prime...Read More