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
South32 has raised the production guidance for its Illawarra metallurgical coal operations in Australia's New South Wales state during its 2019 financial year by 7%.The miner now expects to produce 6.5 million tonnes of saleable coal in the 12 months to June 30, with met coal accounting for 5.2 million tonnes of saleable...Read More
Today I have two stock picks for you that I believe Warren Buffett would love.As you know, Buffett is pretty widely viewed as being the greatest stock market investor in history.Despite having given a massive $27 billion to charity over the past decade, Warren Buffett still sits on a net worth of $80 plus billion.Eventually, almost every dime of that remaining $80 billion is going to be given back...Read More
China's ferrous futures experienced a slight uptick on Thursday January 17 across the board, with steel contracts maintaining their strength from a day earlier.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,557 yuan ($526) per tonne, up 5 yuan per tonneMay hot rolled coil: 3,464 yuan per tonne, up 16 yuan per tonne Dalian Commodity Exchange May iron ore: 513 yuan p...Read More
VANCOUVER, Jan. 17, 2019 – PRIZE MINING CORPORATION (“Prize” or the “Company”) (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) wishes to provide an update on the status of the Alberta Securities Commission Notice of Application dated December 21, 2018 seeking an interim order pursuant to section 33 and 198 of the Securities Act(Alberta), which names the Company as...Read More
The London Metal Exchange will launch a new cash-settled cobalt contract on March 11, settled against the benchmark standard-grade cobalt price assessed by Fastmarkets. The final settlement price will be an arithmetic average of the twice-weekly Fastmarkets standard-grade cobalt price in the expiring contract month. Fastmarkets achieved type 1 IOSCO assurance for its standard-grade cobalt price in...Read More
The London Metal Exchange will launch its new cash-settled alumina contract on March 11, to be settled on the Fastmarkets MB index in a basket. The contract will be settled against Fastmarkets MB's benchmark daily fob Australia alumina index and CRU's alumina price index - equal weighting given to each index. Click on the image above to download the LME contract specifications. The index move...Read More
The new London Metal Exchange cash-settled aluminium duty-unpaid European contract will be settled against Fastmarkets MB's benchmark Rotterdam premium.The settlement price for the monthly contract, to be launched on March 11, will be an arithmetic average of the daily Rotterdam duty-unpaid premium - the midpoint of the range - in the expiring contract month. Fastmarkets achieved ty...Read More
The London Metal Exchange has announced it will launch seven of its new cash-settled futures products on March 11, and has selected Fastmarkets to be the price provider for three of the new contracts.In total, there will be two new ferrous contracts, three new contracts into the LME's aluminium suite and two minor metals contracts. "The introduction of new contracts is a strategically important gr...Read More
Three-month base metals prices on the London Metal Exchange exhibited mixed movements whileconsolidating this morning, Thursday January 17. Copper, nickel, lead and zinc were down by between 0.1% and 0.5%, while aluminium and tin prices were up by 0.3% and 0.4% respectively. The three-month copper price was off by 0.1% at $5,973 per tonne.Volume across the LME base metals complex was above average...Read More
Import prices for stainless steel in East Asia moved up over the past week amid increased buying activity and costlier nickel, while talk also emerged in the market about a major Indonesian mill's plans to reduce its stainless steel supply to Taiwan.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,880-1,970 per tonne cif for the week ended...Read More
China's domestic stainless steel prices remained unchanged for a third week amid soft demand and low supply ahead of the Chinese New Year.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,100-2,188) per tonne including value-added tax for the week ended Wednesday January 16, unchanged from a week earlier.A few stee...Read More
A data center and technology campus that takes advantage of the cool, dry climate at 10,300 feet was the winning idea in the inaugural Henderson Sustainability Challenge.Colorado School of Mines students worked with Climax Molybdenum, a Freeport-McMoRan company, and community members for an entire semester to envision innovative ways to sustainably repurpose the Henderson Mine property following t...Read More
The most recent Annual Survey of Mining Companies by the Fraser Institute ranked British Columbia seventh among Canadian mining jurisdictions. But no other province or territory has had two new precious metal mines reach commercial production less than 15 months apart over the last two calendar years.In July 2017, Pretium Resources (TSX: PVG; NYSE: PVG) launched commercial production at its high-g...Read More
Kirk Woodman, vice-president of exploration for Vancouver-based private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier by as-yet unidentified individuals.According to a statement by Burkina Faso minister of foreign affairs Alpha Barry, Woodman was kidnapped near the village of Tiabangou at the Bira Trend exploration site o...Read More
Former trader at Kyen Resources, Nishchay Chadha, has joined Viant Commodities as their head of trading in the Viant office in Singapore, Fastmarkets has learned. Chadha will oversee the refined metal and scrap trading business at Viant Commodities, a source close to...Read More
Serabi Gold (TSX: SBI; LON; SRB) produced a record 10,256 oz. gold in 2018's fourth quarter, propelling its 2018 gold production to 37,108 oz. gold, a slight improvement over 2017 gold production.The company processed 45,538 tonnes of run of mine ore from its Palito and Sao Chico gold mines - its highest quarterly throughput of the year - at an average grade of 7.39 grams gold per tonne, as well a...Read More
Wesdome Gold Mines (TSX: WDO) expects to produce 72,000-80,000 ounces of gold this year at all-in sustaining costs (AISC) of US$985-$1,040 per oz. at its Eagle River mine complex in northern Ontario.The gold producer also forecasts a significant grade increase to 15.5-16.5 grams gold per tonne, compared to a reserve grade of 12.2 grams gold and a recent high of 13.3 grams gold achieved in the thir...Read More
* EU imposes country-specific steel import quotas on Turkey* EU ops of ArcelorMittal, CMC set to benefit most* Turkish mills had already slashed output due to U.S. tariffsLONDON/ANKARA - The European Commission's move to extend its steel import restrictions threatens to force Turkish mills, already buckling under the weight of U.S. tariffs, to cut production further or in some cases close down, so...Read More
West Africa-focused gold miner Avesoro Resources (TSX, AIM:ASO) said Thursday it had exceeded its 2018 full year production guidance, thanks mainly to a 44% output increase at its New Liberty mine in Liberia and despite a 4% production decline at its Youga asset in Burkina Faso.Avesoro's annual production jumped by 15% to 220,458 ounces of gold compared with 2017, with New Liberty alone churning o...Read More
BRASILIA - A retired Army officer who last year advised a Canadian company seeking to mine gold in the Amazon returned to the head of Brazil's indigenous rights agency on Thursday, vowing to improve the lives of the country's native peoples.General Franklimberg Ribeiro de Freitas had run the National Indian Foundation (Funai) until April 2018, but was fired by the previous government under pressur...Read More