Chile's mining minister Baldo Prokurica asked the London Metals Exchange (LME) Wednesday to consider trading the coveted metal used in the batteries that power electric vehicles (EVs) and high-tech devices, and so provide greater "clarity" about its value.Chile produced 80,000 tonnes of lithium carbonate equivalent last year, representing 35 percent of global production.On his first visit to Brita...Read More
LONDON, Oct 10 (Reuters) - A dollar shortage that has sparked outrage from mining companies operating in Zimbabwe is a "short-term problem" that will be remedied by a stronger economy, the mines minister told Reuters. For mining firms, dollar shortages are so severe that there is a risk of some mines shutting downZimbabwe is suffering acute shortages of U.S. dollars, deterring foreign capital fr...Read More
LONDON, Oct 10 (Reuters) - Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350 million, two sources familiar with the matter said.The assets include a 53 percent stake in a Dutch anode facility and 50 percent of the shares in a Swedish aluminium fluoride plant, which are ingredients in aluminium produ...Read More
Steel mills in India are increasingly tapping the global market for iron ore as they find it difficult to transport the key raw material from local mines, and demand for the metal surges in response to the government's ambitious plans to build out the nation's infrastructure.China is going to reach a tipping point soon, fortunately, India is waiting in the wings."Today, India is a net importer of...Read More
OSLO/RIO DE JANEIRO Oct 9 - Norsk Hydro said on Tuesday it has won permits from Brazilian authorities to restart operations at half capacity at its Alunorte alumina refinery, the world's largest, though employment for its 4,700 workers is not guaranteed over the long-term.Alunorte is expected to be able to ramp up to 50 percent production within two weeks.The resumption is the latest twist in a mo...Read More
"More than 3,800 unique and aggregated datapoints, and over 30,000 words of analysis, discussion and thought leadership have been included in this year's 2018 #WorldRiskReport. Download a free excerpt: https://t.co/RQ4Mysts45 @MaplecroftRisk"Read full newsRead More
SYDNEY, Oct 10 (Reuters) - Iron ore shipments to China from Australia's Port Hedland terminal rose 5.3 percent in September from a month earlier, port data released on Wednesday showed.Iron ore shipments to China from the world's biggest iron ore port totalled 37.4 million tonnes in September, up from August's 35.5 million tonnes, according to the Pilbara Ports Authority.Total September iron ore s...Read More
LONDON, Oct 10- Polish miner KGHM, one of the world's leading copper producers, is focusing on shoring up its balance sheet rather than any early return to dividends, its new CEO said.Marcin Chludzinski, who was named chief executive in June, said he will deliver an updated strategy for the company by the end of the year.But after shareholders in July approved the company's decision not to pay a...Read More
Mr. Walter Coles Jr. reportsSKEENA INTERSECTS 10.97 G/T AUEQ OVER 42.65 METRES AT ESKAY CREEKSkeena Resources Ltd. has provided additional gold-silver drill results for three drill holes from the continuing phase I surface drilling program at the Eskay Creek project located in the Golden Triangle of British Columbia. The multifaceted phase I program is being performed in the historically drill def...Read More
Mr. Antonio Berlanga reports TELSON CLOSES $6.8 MILLION OVERSUBSCRIBED FINANCING AT 39% PREMIUM TO MARKETTelson Mining Corp. has closed its non-brokered private placement financing consisting of 9,124,805 units of the company at a price of 75 cents per unit for gross proceeds of $6,843,603.The financing was originally announced in a press release dated Sept. 26, 2018, and was closed oversubscribed...Read More
Battery minerals, in particular lithium and cobalt, have attracted lots of investors and media attention this year. But graphite, one of three naturally occurring carbons on Earth, seems to have been overlooked.The situation is about to change or so it thinks Anthony Huston, chief executive officer of Graphite One Resources (TXS-V:GPH), especially after a White House/US Department of Defence (DoD...Read More
"Fitch Solutions has released a bearish forecast for South Africa's #mining industry, with 0.8% annual growth for the next few years driven by Eskom's #coal needs ($) | https://t.co/m7nN0lldZE"Read full newsRead More
Canada's RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, has recovered the first specimen.The Toronto-based miner said the slab, weighing about 90kg, was cut in the field, revealing impressive visible gold and quartz structures. It's estimated that the stone, which will be divided up...Read More
Canada's RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, has recovered the first specimen.The Toronto-based miner said the slab, weighing about 90kg, was cut in the field, revealing impressive visible gold and quartz structures. It's estimated that the stone, which will be divided up...Read More
The second quarter 2018 was disappointing for investors in senior gold miner Goldcorp Inc. (TSX:G)(NYSE:GG). The miner missed expectations and reported lower production, cost blowouts and heightened foreign currency costs. And this, along with gold's latest weakness, has sparked speculation that Goldcorp will struggle to unlock value for investors and sees its stock down by 22% over the last year....Read More
Silver remains weak, touching a multi-year low of US$14.08 an ounce before rebounding to US$14.40 in recent weeks. The sustained weakness of silver has led to claims from some pundits that now is the time for investors to bolster their exposure to the white metal and buy beaten-down silver miners. While silver has always been considered a precious metal that is closely correlated to gold, there ar...Read More
Cobalt is not flashy. Nor is it going to skyrocket in six months. But the demand for cobalt in the automobile manufacturing industry is immense. Unlike the small amounts needed for smart phones, an electric car might need 10 to 20 kilograms. The MoneyLetter has scoured lists of analyst-favoured cobalt stocks. We note five of them below.In The Graduate, the memorable 1967 film that launched Dustin...Read More
"The only time we've ever seen a confluence of risk factors anywhere close to those of today was the week of March 24, 2000, which marked the peak of the technology bubble." - John Hussman, Hussman Funds, in his October Market CommentaryThe yield on the 10-yr Treasury has broken out, hitting its highest level since July 2011:By the end of June 2011, the Fed had only reached its half-way mark in mo...Read More
Drilling the Tatogga property in B.C.'s Golden Triangle. Source: GT Gold Corp.GT Gold Corp. [GTT-TSXV, GTGDF-OTC] shares rallied strongly Wednesday after the company released new drilling results from its wholly-owned Tatogga property in British Columbia's Golden Triangle area.The company said assays from the latest holes from its Saddle North target confirm the existence of a major new gold-coppe...Read More
Geologist Lachlan Kenna, air-leg miner Henry Dole, mine foreman Warren Edwards and senior geologist Zaf Thanos with large gold specimens found at the Beta Hunt Mine in Australia. Source: ABC Goldfields-Esperance: Jarrod LucasRNC Minerals [RNX-TSX] said Wednesday the first specimen slab from the top of the Father's Day discovery area at its Beta Hunt Mine in Australia has been successfully recovere...Read More