Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Amarc Resources (TSXV: AHR; US-OTC: AXREF) has identified five clusters of drill ready targets that cover areas ranging from 1.5 sq. km to more than 5 sq. km during 2018 exploration at its JOY copper-gold project in north-central B.C.'s Toodoggone region.Hudbay Minerals (TSX: HBM; NYSE: HBM) funded the $2.5 million exploration program. It also spent $1.15 million in 2018 to help Amarc acquire unde...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday December 10.All base metals prices, barring that of aluminium, on the Shanghai Futures Exchange fell during Asian morning trading on Monday December 10 amid disappointing economic data out of China.Check Fastmarkets MB's live futures report here.The US Treasury Department's Office of Fo...Read More
Kirkland Lake Gold (TSX: KL; NYSE: KL) expects production growth of 10%-15% annually over the next three years with consolidated output of 740,000-800,000 ounces of gold in 2019, 850,000-910,000 ounces in 2020 and 945,000-1.05 million ounces in 2021.Production growth in 2019 will be driven by the company's Fosterville mine in Australia, 20 km from Bendigo in the state of Victoria. Fosterville is f...Read More
Stainless steel prices in the United States have mostly declined in December, extending a downward trend largely stemming from a decrease in alloy surcharges that have weighed on transaction prices, market participants said.Fastmarkets' assessment for Type 304 and Type 304L stainless steel cold-rolled sheet stood at $1.25 and $1.28 per lb respectively on Monday December 10, down by $0.04 and...Read More
Turkish steel mills started the trading week without any deep-sea bookings because of uncertainty prevalent across Asian markets, sources told Fastmarkets MB.The mills were mostly watching the situation in Chinese steel market for clues to market direction, sources said on Monday December 10."The phone did not ring... Everybody is watching China and is not willing to buy scrap until the situation...Read More
Turkish domestic scrap prices have gone down over the past week in line with falling finished steel values, sources said on Monday December 10.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,590-1,710 ($300-323) per tonne delivered on December 10, narrowing down from TRY1,590-1,780 per tonne on December 3.The change in the assessment came after some...Read More
Negotiations over the 2019 blister copper refining charge (RC) terms are still ongoing three weeks after Asia Copper Week in Shanghai, with parties holding divergent views over Zambian government directives and scrap availability underlying the supply-demand dynamics in the coming year. In November, major blister copper suppliers and buyers, including First Quantum and Jiangxi Copper, agreed to tr...Read More
PARIS - ArcelorMittal, the world's largest steelmaker, said on Tuesday it was "absolutely critical" that Europe protect itself with measures to restrict imports of steel and remedy weaknesses in its existing system.The European Union imposed provisional safeguards in July combining quotas and tariffs to counter steel flooding into the market after U.S. President Donald Trump hit U.S. steel impor...Read More
Some of the world's biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit.The world's biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a potential $90-billion-a-year price tag, it's too rich for them to do it on their own.The technology siphons...Read More
London/Washington DC: TechMet Limited, a private industrial company that is building controlling or significant minority positions in world-class projects across the technology metal supply chain, today announces the appointment of Admiral Michael Mullen as Chairman of its Advisory Board.Admiral Mullen was the Chairman of the Joint Chiefs of Staff of the United States (2007-2011) and principal mil...Read More
SASKATCHEWAN - Vancouver's CanAlaska Uranium and Saskatoon's Cameco Corp. have formed the West McArthur joint venture and agreed on a $2.4-million exploration budget for 2019. CanAlaska will be the operator and 70% owner.Next year's work will focus on extending the footprint of the three discovery holes in 2017 and 2018. They define a halo of uranium mineralization in the sandstone. The halo measu...Read More
LafargeHolcim is selling its Indonesian business to Semen Indonesia as it reviews its portfolio to improve its financial strength, the world's largest cement maker said in a statement on Monday.LafargeHolcim signed an agreement with state-owned Semen Indonesia to divest its 80.6 percent in Holcim Indonesia for an enterprise value of $1.75 billion on a 100 percent basis, the company said.The assets...Read More
Just when relief was in sight for Canada's beleaguered heavy oil producers, a new threat is emerging.A new rule taking effect in 2020 aimed at reducing pollution by cutting the sulfur content of maritime fuel will make sulfur-heavy oil sands crude less desirable. That may dampen the impact of an Enbridge Inc. pipeline expansion and additional rail capacity that oil producers are counting on to eas...Read More
Afghanistan selected preferred bidders for three gold and copper mines in 2012. It took the war-torn nation six years to finally sign the contracts.Afghan President Ashraf Ghani announced the deals in the past few weeks. The government took time to finalize the agreements because it wanted to ensure they were transparent and will help eliminate corruption in awarding contracts, Ghani said in an in...Read More
World's No.1 diamond producer by output Alrosa (MCX:ALRS) has joined rival De Beers' end-to-end diamond blockchain program, aimed at clearing the supply chain of imposters and conflict precious rocks.Anglo American's De Beers, the largest diamond miner by value, began developing its "Tracr" tracking platform last year, but officially launched a pilot program to test the technology in January.With...Read More
The largest US aluminum and steel producers - companies that were supposed to benefit from tariffs - have all lost value this year.Shares of every major US steel and aluminum producer are down for the year, while Century Aluminum Co. and Alcoa Corp., the country's two biggest aluminum makers, had the worst October since 2008. It was the biggest October drop since 2009 for US Steel Corp., which rep...Read More
"We reached our goal to extend the life of the lining, thanks to the product support and service given by Metso at every stage," says Gustavo de la Torre, Mineral Processing Manager of Cerro Lindo.Cerro Lindo is an underground copper mine with an average daily production of 20,000 tons. The mine is located in central Peru, 175 kilometers southeast of the capital city of Lima, and operated by Nexa...Read More
GABORONE - Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday.Mowana had a conditional $4 million working capital facility from Fujax Minerals and Energy Limited, from which it had drawn down $1 million.Copper prices on the international market have been re...Read More
SoulCycle is offering one lucky winner a 20 class pack to their Yaletown studio in Vancouver or King Street Studio in Toronto.Read full newsRead More
Gold stocks have been outperforming the Canadian stock market over the past three months with the TSX Global Gold Index gaining about 18 per cent. Greg Taylor, portfolio manager at Purpose Investments, says now could be a good time for investors to ensure they have some exposure to the group. He suggests three names: B2Gold, Agnico Eagle Mines and Franco-Nevada.Read full newsRead More