SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper prices are expected to rise, overall, in 2018 despite current declines.This is in line with expectations from financial institutes such as Deutsche Bank, Société Générale and the Chilean state copper commission, Cochilco. All three have raised their price expectations in anticipation of tighter supply.SMM believes that, as i...Read More
SHANGHAI, Jan 19 (SMM)? 1/4 ?Copper: Copper is expected to remain rangebound today. LME copper is to trade at $7,020-7,120/mt while SHFE 1803 is to trade at 53,190-54,050 yuan/mt. Spot discounts are expected at 130-80 yuan/mt.Aluminium: We see LME aluminium trading at $2,220-2,250/mt while SHFE aluminium is likely to follow LME tendency at 14,600-14,800 yuan/mt today. We see spot discoun...Read More
Freeport-McMoRan (NYSE:FCX) has entered into an agreement with the US government for the cleanup of 94 abandoned uranium mines on Navajo land, the U.S. Justice Department said on Tuesday.Company will perform the work and federal government will contribute about half of the more than $600 million cleanup costs.Under the deal, valued at more than $600 million, Freeport-McMoRan units Cyprus Amax Mine...Read More
Mining giants Rio Tinto (LON:RIO) and Aluminum Corp. of China (Chinalco) have decided to call it quits on a six-year-old exploration joint venture originally set to find copper deposits in China.Rio had dropped a hint about the breakup on Tuesday by saying it had discontinued exploration work in China, India and Mexico, with no further details.A Chinalco spokesperson confirmed to Bloomberg that t...Read More
Operations at Canadian miner Yamana Gold's (TSE:YRI) (NYSE:AUY) El Pe????n mine in northern Chile have resumed following collective bargaining agreements reached with two unions representing underground workers, the company said late Tuesday.The strike has not had a significant impact on mine and consolidated production, said Yamana.The Toronto-based miner halted El Pe????n, its second biggest gol...Read More
Junior exploration companies with mineral claims throughout the province have no right to know when the government is secretly negotiating interim treaties that the junior sector fears could result in de facto expropriation without consultation.That's what government officials are now openly admitting to the courts, according to the law firm representing a junior mining company that is seeking a j...Read More
For companies servicing the mining sector, project opportunities have declined significantly in the past few years.But, with production increasing, the opportunities presented by operating mines are growing.The decline in project opportunities is in line with the decline in capital expenditure in mining and oil-and-gas, as shown in the following graph. (Separate figures for mining and oil-and-gas...Read More
In 2004, Imperial Metals Corp. (TSX:III) notified B.C.'s Ministry of Water, Land and Air Protection that it would be applying for a water discharge permit in anticipation of restarting its Mount Polley copper mine near Likely, B.C.The company said it would need to release water from a tailings pond, which would grow in volume once mining resumed operations.Ten years later, it was still waiting for...Read More
* Europe's STOXX inches up 0.2 pct after choppy day* Pearson plunges after profit warning* ASML surges to record high on net income beat* Miners top gainers as copper steadies (Recasts, adds quotes and detail, updates prices)By Danilo MasoniMILAN, Jan 18 (Reuters) - European shares ended little changed on Wednesday with investors looking at corporate earnings for market direction as more doubts...Read More
(Corrects headline and first paragraph in Jan. 17 story to show payment is not a fine)LUSAKA, Jan 17 (Reuters) - Konkola Copper Mines (KCM), owned by global conglomerate Vedanta Resources PLC VED.L , will pay the first tranche of the $100 million it owes the Zambian government by the end of the month, the country's investment firm said on Tuesday.The claim relates to outstanding payments under a...Read More
(Updates futures, adds company news items)Jan 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 14 points higher on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.3 percent ahead of the cash market open.* The UK blue chip index closed 1.5 percent lower at 7,220.38 points, posting its biggest one-day drop since June 2016 on Tuesday, with a jump in sterling followi...Read More
Investing.com - Gold prices were little changed on Wednesday, holding near the prior session's eight-week high as investors await Federal Reserve Chair Janet Yellen's speech on monetary policy.Market players also looked ahead to U.S. inflation data later in the day.Gold for February delivery on the Comex division of the New York Mercantile Exchange held steady at $1,212.65 a troy ounce by 3:15AM E...Read More
Jan 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 14 points higher on Wednesday, according to financial bookmakers.* The UK blue chip index closed 1.5 percent lower at 7,220.38 points, posting its biggest one-day drop since June 2016 on Tuesday, with a jump in sterling following Prime Minister Theresa May's speech on Brexit hurting dollar-earning companies. DEUTSCHE BOERSE/LONDON S...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Lead stood out among nonferrous metals with a 1% rise. Tin declined 1% and nickel slipped 0.43%. Copper, zinc and aluminium slid slightly.The ferrous complex performed better. Iron ore rose 1.42% and rebar rose 1%. Coke edged up 0.74% and hot-rolled coil gained 0.55%. Coking coal gained slightly.Copper: Copper faces a downward trend in the short term, an...Read More
China's gross domestic product (GDP) grew 6.9% in 2017, beating expectations of 6.8%. GDP growth for 2016 was also 6.9%GDP in Q4 2017 grew 6.8%, slightly above expectations of 6.7%.On a quarterly basis, GDP expanded 1.6%, just under expectations of 1.7%.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and...Read More
SHANGHAI, Jan. 18 (SMM)? 1/4 ?Nonferrous metals saw more deficits from January to November 2017 compared to the same period in 2016, according to a release from the World Bureau of Metal Statistics (WBMS).AluminiumAluminium saw a deficit of 1.57 million mt, following a deficit of 770,000 mt in 2016. Demand for primary aluminium for January to November 2017 was 54.92 million mt. This was 1.41...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Copper: Prices face downward pressure in the short term. LME copper is expected to trade at $7,000-7,130/mt today while the SHFE 1803 contract is to trade at 53,000-54,200 yuan/mt. On the spot market, discounts are likely to narrow to 160-110 yuan/mt as downstream customers restock.Aluminium: LME aluminium is expected to stay rangebound at $2,175-2,200/mt tod...Read More
The surge in the copper price to near 18-month highs following Donald Trump's win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.The bullishness about the impact of Trump's $500 billion infrastructure plans and solid growth in top consumer China on demand for the bellwether metal has cooled down considerably.2016 was the fifth year...Read More