SHANGHAI, Feb 2 (SMM) –Copper: A stronger Chinese yuan, a lower SHFE/LME price ratio, and tighter funds ahead of Chinese New Year led us to expect a rangebound trading for the SHFE copper contract. We see support at 52,500-53,000 yuan/mt today while LME copper may trade at $7,080-7,140/mt. Spot discounts are seen at 100-40 yuan/mt today with reluctant sellers. Aluminium: LME aluminium...Read More
Rainbow Field, Director of International Legal Services, at Bowmans in Kenya. Kenya's new Mining Act is the first major revision in mining law in the country since the 1940s. The new Act is largely considered to be a modern piece of legislation that is clear in terms of timelines and structures, but that still has a few challenges that need to be addressed.The Act requires the establishment of...Read More
After four-plus years of declines, 2016 was a comeback year for the mining industry - with only a couple of exceptions, energy, metal and mineral prices rallied strongly last year.The turnaround in the sector has convinced at least one private equity firm that it may be time to lock in some profits. Reuters reports the Orion Mine Finance Group is in talks to sell a portfolio of 87 royalty, stream...Read More
Vancouver, British Columbia: Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) announces a new investment in the future of its Caribou Zinc Mine, located in the Bathurst Mining Camp of northeastern New Brunswick, Canada, through the decision to transition to an owner-operated model that will include procurement of a new underground mining flee...Read More
Los Bronces copper mine in Chile. (Image courtesy of Anglo American | Flickr.)Global miners, particularly Canadians, are showing increasing signs of optimism as commodity prices are on the rise, shallow growth is returning to different end markets, and most are in better cost positions than in the recent past, the annual "Tracking the Trends" report by Deloitte released Wednesday shows.However ch...Read More
About 2,500 workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper operation, voted late Tuesday to reject a company wage offer and opted instead to go on strike.The walk out could begin as early as Friday, a union representative told Diario Financiero (in Spanish), but it'd likely be deferred for a five-day government mediation to attempt a resolution.Miners have accused BH...Read More
* Gauge of stocks around the world snaps 4-day fall* Strong U.S. payrolls report boosts dollar, Treasury yields* Dollar rises after worst January in 30 years* Oil rises as OPEC, Russia deliver on supply cuts (Updates to U.S. market open, adds data, quote, changes dateline, previous LONDON)By Dion RabouinNEW YORK, Feb 1 (Reuters) - Stocks moved higher around the globe and the U.S. dollar rose along...Read More
* Dollar pares losses after worst year start in 3 decades* Dollar steadies after slump on U.S. devaluation complaint* Fed seen on hold amid much policy uncertainty* European shares climb as risk appetite creeps back* Apple stock up 3 pct after bell on strong iPhone salesBy Marc JonesLONDON, Feb 1 (Reuters) - World stocks made their first gain in five days on Wednesday as the dollar steadied from t...Read More
Investing.com - Gold prices were little changed in European morning trade on Wednesday, holding near the prior session's one-week high as market players looked ahead to the outcome of the Federal Reserve's policy meeting for further clues on the timing of the next rate hike.Gold for April delivery on the Comex division of the New York Mercantile Exchange dipped $1.00, or around 0.1%, to $1,210.35...Read More
(Adds futures, company news items)Feb 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 34 points higher at 7,134 on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.4 percent ahead of the cash market open.* The UK blue chip index closed down 0.3 percent on Tuesday at 7,099.15. European shares ended January marginally lower after falling to a one-week low on Tuesday...Read More
Feb 1 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 34 points higher at 7,134 on Wednesday, according to financial bookmakers.* The UK blue chip index closed down 0.3 percent on Tuesday at 7,099.15. European shares ended January marginally lower after falling to a one-week low on Tuesday, as investors turned more realistic about U.S. President Donald Trump's policies, even though soli...Read More
SHANGHAI, Feb 1 (SMM) – Nonferrous metals futures edged down with SHFE aluminium leading the loss with a 1% drop. The ferrous complex saw mixed trading with hot-rolled coil up over 1% and rebar up slightly. Iron ore was down nearly 1%.Copper: Investors have reduced their long bets today, dragging SHFE copper lower. We expect copper prices to stay rangebound in the short term as the US w...Read More
SHANGHAI, Feb 1 (SMM) – China’s production of 10 nonferrous metals amounted to 53.78 million mt in 2017, up 3% from a year ago, according to data released by the National Development and Reform Commission (NDRC) on Wednesday January 31. The annual growth was up 0.5 percentage point from the previous year.According to the data, copper output was up 7.7% to 8.89 million mt, aluminium was...Read More
Teck CEO Don Lindsay: "we had analysts and prognosticators telling us that we would never recover and that the industry was doomed. Next time you see that, buy Teck" | SubmittedOne year ago, the share price for B.C.'s largest mining company, Teck Resources Ltd. (TSX:TECK.B), had fallen below $4, and some analysts were predicting it would follow more than a dozen American coal-mining companies into...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, gained on Tuesday after reports that the US company's Indonesia operations will be temporarily exempt from new mining rules introduced by the Asian nation.Freeport shares jumped as much as 2.4% in early trade in New York, bringing gains so far in 2017 to nearly 25%. The pundits favourite regularly makes the most a...Read More
United States mines in 2016 produced an estimated $74.6 billion of raw mineral materials, a slight increase from 2015, the U.S. Geological Survey announced Tuesday.The information comes from the 40th annual Mineral Commodity Summaries report, the earliest comprehensive source of 2016 mineral production data for the world. It includes statistics on more than 88 mineral commodities that are import...Read More
Investing.com - Gold prices were higher in European morning trade on Tuesday, adding to the prior session's gains amid uncertainty over the outlook for U.S policy after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose $5.85, or around 0.5%, to $1,201.95 a troy ounce b...Read More
Description As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth. This Copper Short Term Outlook report provides a detailed breakdown of...Read More