On Monday, Redstone Corporation, a subsidiary of Gina Rinehart's Hancock, lodged a bidder's statement for the unconditional 4.2c per share cash offer after acquiring 19.96% of Atlas last week.Read More
The spot gold price was about US$7 an ounce lower than this time yesterday, around $1,275/oz.Meanwhile as the summer/winter solstice nears (depending on your hemisphere), Solstice Gold (TSXV: SGC) was one of the standouts among juniors in Toronto as it announced "gold grains" from exploration at its Kahuna gold project in Nunavut.Shares in the company, which listed on the TSX Venture Exchange a mo...Read More
SHANGHAI, Jun 20 (SMM) –Copper: LME copper plummeted to the $6,800/mt level overnight while the SHFE 1808 contract slowed its decline. Support is seen at the $6,800/mt level for LME copper and we believe the SHFE 1808 contract is likely to stabilise at the 51,500 yuan/mt level. In the physical market, downstream consumers were keen to stockpile as futures prices fell. Such purchasing en...Read More
The 37-year-old was injured by a loader and succumbed to his injuries at an outpatient clinic, sister publication Mining News Brazil (NMB) reported. Read More
The copper price has turned a corner in recent times, coming off a prolonged price downturn from 2012 to 2017, which saw the red metal bottom at just under US$2/lb. Read More
Output is now estimated at 500,000-540,000 ounces versus previous guidance of 480,000-530,000oz.OceanaGold said operating performance at Haile had been strong with recent solid plant performance, and mining activities were gradually improving, while improvement to the mine plan had seen Didipio in the Philippines continue to outperform.In New Zealand, after a slow start Waihi was back on track whi...Read More
During trial mining at Matsa's Fortitude, tonnes and grade were lower than budgeted leading to production coming in at 9,522 ounces, around 80% of the target, while all-in costs were A$386 (US$285) per ounce above budget, leading to a slim cashflow of just $700,000.Read More
The head of the Mexico-based precious metals miner was among the leading mining executives interviewed for the "Mining Journal Global Leadership Report: Preparing for transformation" being published this month.Alvídrez outlined a number of different fronts where the miner was looking to technology for "breakthrough changes" in the way it operated.Among them, he said Fresnillo put forward it...Read More
Meeting the increasing challenge of securing critical materials for use in military hardware, consumer electronics, electric vehicles and modern rechargeable batteries had less to do with producers ramping up production, or manufacturers using less raw material than it had to do with governments facilitating well-functioning global markets, Eggert said."Importantly, we are not running out of miner...Read More
Mining and metals stocks came in for more punishment on Tuesday as the trade spat between the US and China escalated amid a war of words between Washington and Beijing.On Tuesday, Donald Trump threatened to impose a 10% tariff on $200 billion of Chinese goods in retaliation for what the US president called the country's "predatory" trade practices. Beijing also ratcheted up the rhetoric accusing...Read More
World's No.1 miner BHP (ASX:BHP) is selling its Cerro Colorado mine, its smallest Chilean copper operation, to EMR Capital Advisors Pty, an Australian private equity firm that invests in natural resources in a cash deal worth $230 million.The Melbourne-based mining giant said in addition to the cash, it will receive $40 million in proceeds from the post-closing sale of the mine's copper invent...Read More
SHANGHAI, Jun 19 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendAs US-Sino trade tension grew, the appetite for risk shrank and suppressed the increase in the US dollar index on Monday. The index closed at 94.742 on Monday.LME metals saw mixed trading on Monday. LME lead rose 1.27%, aluminium gained 0.72% while nickel dropped 1...Read More
Investing.com - Gold prices were modestly higher on Monday but remained near a 6-month low, as worry over trade remained in focus.Comex gold futures for August delivery were up 0.21% to $1,281.20 a troy ounce as of 10:28 AM ET (14:28 GMT).On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. China promptly retaliated with...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.1 pct* Cobham jumps 6 pct on MS upgrade* Indivior gains as U.S. court blocks generic drug* Energy stocks stage turnaroundBy Helen ReidLONDON, June 18 (Reuters) - Britain's top stock index fell on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe.T...Read More
(Adds company news items, futures)June 18 (Reuters) - Britain's FTSE 100 futures FFIc1 were down 0.2 percent ahead of the cash market open.* DS SMITH: British packaging group DS Smith Plc SMDS.L posted a 21 percent rise in full-year adjusted pretax profit on Monday, driven by acquisitions and strong demand from its European and e-commerce customers. VIRGIN MONEY-CYBG: Mid-sized British bank CYBG C...Read More
(Updates with comments from Vedanta)MADURAI, India, June 18 (Reuters) - A minor leak has been detected in the sulphuric acid storage plant in Vedanta's VED.L south Indian copper smelter, a government official said on Sunday, about a month after the state ordered its shutdown after protests in which 13 people died.Police opened fire on May 22 on a crowd of protesters calling for the shutdown on the...Read More
June 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 10 points higher at 7,644 on Monday, according to financial bookmakers.* TESCO: The chairman of Tesco TSCO.L , Britain's biggest retailer, on Friday pledged to end the all-white make-up of its board of directors. VIRGIN MONEY-CYBG: CYBG CYBGC.L is closing in an agreement to buy rival Virgin Money VM.L to create a larger bank to t...Read More
Resolute this month signed a framework agreement with Sweden-headquartered Sandvik to fully automate the loading and haulage operations at Syama.Read More
Anglo's activity in the remote area has sparked a staking rush, with junior Altamira Gold Corp (TSXV: ALTA) further adding to its ground on the Juruena belt in Mato Grosso last month."These new claims are located less than 60km from the recent copper discovery by Anglo American which sparked a major staking rush in September 2017," Altamira said in May.Anglo has confirmed to Reuters it had obtaine...Read More
SHANGHAI, Jun 19 (SMM) –Copper: LME copper tumbled to a low of $6,918/mt on Monday. Worries of a slowdown in China’s economic growth grew as May data fell short of expectations. US-Sino trade tension further unsettled the global base metals market. We expect LME copper to trade at $6,950-7,020/mt today with the SHFE 1808 contract at 51,900-52,500 yuan/mt. Spot discounts are seen a...Read More