China will tighten approvals of steel capacity swapping between companies and ban all new steel capacity in any form, the country's economic planner said on Thursday, in order to streamline the sector.The announcement follows illegal capacity expansions approved by local governments under the cover of capacity swaps, where companies move capacity between different regions to reduce the concentrati...Read More
Sibanye Gold Ltd. faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti Ltd. plans to sell.Sibanye, headed by South Africa's prolific mining deal-maker, Neal Froneman, would be interested in purchasing AngloGold's remaining mine in the country. But he'd likely face a challenge from other producers, notably Harmony Gold Mining Co. and Chinese-b...Read More
In its passage last week of legislation that will establish a fund dedicated to easing worker transition in a post-coal economy, Colorado is taking a modest but promising policy step others can follow.Gov. Jared Polis has signaled he will sign HB19-1314, which will create the Colorado Just Transition Office. The bill amounts to the most serious state-government acknowledgement to date that coal-fi...Read More
Alamos Gold of Toronto is drilling more high grade intersections at the producing Island Gold mine 85 km northeast of Wawa. The company is focusing its attention on the Eastern, Main and Western extensions with both surface and underground drilling.Hole MH18-03 was drilled in the 500-metre gap between inferred resources of the Eastern and Main extensions. It assayed 46.11 g/t gold (26.81 g/t cut)...Read More
In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense...Read More
Aluminium tied up in financing deals and collateral for loans, shortages and inventory draws will sustain prices in the physical market even as funds expecting sluggish demand sell derivatives.Financing deals involve buying aluminium now and selling it forward for a higher price and profit after storage and interest costs have been deducted. These deals are often on a monthly basis and rolled over...Read More
Investment in mineral exploration in Mexico hit a 12-year low last year, due mainly to social conflicts that forced some companies to halt operations, according to a report published this week by the country's mining chamber, Camimex.Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017Foreign and local companies invested about $38...Read More
Brazilian petrochemical company Braskem SA is preparing alternatives in the event the company is forced to stop its mining activities in the northeastern state of Alagoas, its chief executive officer said on Thursday.A report by the country's Geological Service released on Wednesday blamed mining by Braskem in the city of Maceio for damages to local real estate.State prosecutors requested last mon...Read More
Albemarle said on Thursday it is moving forward on a project it claims will boost its Chilean lithium production by 30% without extracting more brine from the environmentally sensitive Salar de Atacama, the world's driest desert.The company, the world's largest producer of the raw material used to make electric vehicle batteries, has teased the industry for more than a year that it has production-...Read More
ArcelorMittal, the world's largest steelmaker, cut its forecast for demand in its main market Europe on Thursday after lower steel prices depressed earnings at the start of the year.The Luxembourg-based company, which makes about 6 percent of the world's steel, announced on Monday it was temporarily reducing European steel output by 3 million tonnes on an annualised basis due to weak demand and in...Read More
Acacia Mining Plc saw a surge in gold production in April thanks chiefly to a 54-percent rise in output from its disputed North Mara gold mine in Tanzania.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania and had cut output by a third after the government banned the export of mineral concentrates in 2017.Barrick's Chief Executive Mark Bristow on Wedne...Read More
Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the United States partly caused by the trade dispute between China and the U.S., Chief Executive Jean-S?(C)bastien Jacques said on Thursday.Jacques said that demand for Rio Tinto's products had not been impacted by the dispute, which is threatening to escalate this week.Chinese Vice Premier Liu He is s...Read More
AngloGold Ashanti Ltd. plans to sell its last South African mine, marking the exit of Anglo American Plc and the companies it spawned from the industry that created Africa's biggest economy.Anglo's creation in 1917 by Ernest Oppenheimer and the subsequent development of what was for decades the world's biggest gold industry underpinned the development of South Africa into the continent's preeminen...Read More
The brick-and-mortar store at 414 Upchurch St., Apex, features indoor gem mining, along with a gift shop and party space, and now gold panning.Read full newsRead More
Valterra Resource (TSXV: VQA) and Ginguro Gold signed a letter of intent this week in which the latter expresses its intention to acquire an 80% interest in the Weepah property, located in Esmeralda County, Nevada.To move forward with the deal, Ginguro would have to pay Valterra $10,000 upon execution of the LOI and incur in $1,050,000 in cumulative aggregate exploration expenditures on or in resp...Read More
Canada's ZEN Graphene Solutions (TSXV: ZEN) this week received a $1 million grant aimed at accelerating its graphene-enhanced concrete research and development project.In a press release, the company said the grant will potentially help its experts achieve the goal of providing cement-based composite products to the Ontario market by early 2020.ZEN management says the goal is to provide significan...Read More
The United States and a group of Pacific allies are proposing to finance a power...Read full newsRead More
"Monterey Minerals Inc. (CSE:MREY, FWB:2DK) is a mineral exploration company with properties in Western Australia and BC, Canada. Monterey is focusing its efforts on its Sherlock River gold property in Western Australia. https://t.co/GuyVKmYcLJ #gold #exploration #investing"Read full newsRead More
Australian exploration and development Aurelia Metals (ASX:AMI) said on Thursday it was no longer discussing with miner and commodities trader Glencore (LON: GLEN) a possible acquisition of the Swiss company's CSA copper mine.The New South Wales-based miner is the second since April to back off from plans to buy the operation.Fellow copper junior Aeris Resources (ASX: AIS) had offered Glencor...Read More
Rockridge Resources (TSX-V: ROCK) is a fairly new mineral exploration company focused on the acquisition, exploration & development of mineral resource properties in Canada. Its focus is copper & base metals. More specifically, base, green energy & battery metals, of which copper is all three! Not just any place in Canada, world-class mining jurisdictions such as Saskatchewan. And,...Read More