2019 Dragon zone drill hole locations with mag tilt background. (Image: Purepoint Uranium Group)SASKATCHEWAN - Purepoint Uranium Group says it has finished the initial fieldwork at the Hook Lake joint venture. The project lies on the southwest edge of the Athabasca Basin in the Patterson uranium district, between Fission's Tri[le R deposit and NexGen's Arrow deposit.Hook Lake is owned jointly by...Read More
NIGER - Niger's Ministry of Mines issued a letter supporting the negotiations between Canada's GoviEx Uranium and the country's federal government regarding the Madaouela uranium project.Although final documents on their commercial understandings still need to be signed, the Vancouver-based miner and country authorities have agreed that the government of Niger will acquire a 10% working interest i...Read More
Brian MacArthur of Raymond James is increasing his price forecasts for gold, copper, zinc and coking call and lowering his estimate for uranium.The mining analyst has revised his average gold price for 2019 to US$1,301 per oz. from US$1,293 per oz. "primarily on the back of incrementally dovish commentary from central banks suggesting that global monetary policy will remain accommodative thereby k...Read More
Manganese ore prices were hovering around recent levels amid low liquidity in the week to Friday April 5, while load shedding in South Africa continued to be supportive of alloy prices in Europe. Low activity for ores in China Alloy prices in Europe rise on lower supply Indian silico-manganese suppliers lift offer prices Silico-manganese market in US drops There was little mov...Read More
The Quebrada Blanca Phase 2 (QB2) project will be a top 20 copper producer and a future third phase expansion would put it in the top five, the chief executive officer of Teck Resources Ltd said. The current Quebrada Blanca mine, located in the Tarapac?? Region of northern Chile, is expected to see cathode production end this year at reduced rates. QB2 will develop the deeper sulphide resource und...Read More
CanAlaska Uranium (TSXV: CVV) agreed today to go ahead with the purchase of 100% of the past-producing Manibridge nickel mine in the Thompson Nickel Belt, Manitoba, central Canada.The mine is currently owned by Pure Nickel (TSXV: NIC). To acquire it, CanAlaska has to issue Pure Nickel 300,000 shares and 100,000 2-year warrants exercisable at $0.28/share, and pay $25,000.The Manibridge Mine claims,...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday April 9 that are worth another look.Among the key talking points across the battery raw materials markets ahead of Fastmarkets' second annual Battery Materials Conference this week in Shanghai include the outlook for China's cobalt metal imports, cobalt hedging appetites, whether a shift to nickel-rich cathode chemistr...Read More
Chile's copper and lithium reserves will be in high demand for development by both domestic and international companies as a result of the ongoing push toward electro-mobilty, according to the country's Minister for Mining.Baldo Prokurica noted that Chile is the world's largest producer of copper and the world's second-largest producer of lithium, both key raw materials for electric vehicle (EV) b...Read More
Freeport-McMoRan is moving ahead at "full throttle" with plans to develop a new smelter in Indonesia in partnership with state-owned PT Indonesia Asahan Aluminium (PT Inalum), the chief executive officer of the US copper producer said.The smelter is part of a package agreed by the company and the government, ending several years of negotiations over the fate of Freeport's activities in Indonesia,...Read More
Sustainability is an essential factor in mining or corporations run the risk of serious economic and reputational damage, Codelco chief executive officer Nelson Pizarro said. The world looks at the mining industry very negatively when there are disasters such as landslides, wall collapses and tailings dam breaches, he said at CRU's 18th World Copper Conference in Santiago, Chil...Read More
The price of copper could go as high as $3 per lb ($6,610 per tonne) by June 2019, and stay above that threshold for the rest of the year and into 2020, although the upside was limited, Diego Hernandez, president of Chilean mining society Sonami, said on Monday April 8."We should reach $3 per lb around June-July and stay there, or a bit higher, during the second half of the year," he told Fastmark...Read More
The world will need the same amount of copper over the next 25 years that it has produced in the past 500 years if it is to meet global demand, according to the head of copper at global miner Rio Tinto.Arnaud Soirat, chief executive officer of the mining company's copper and diamonds division, said that consumption of copper arising from what he termed the "electrification of everything" made the...Read More
Diamond miner De Beers sold $575-million of diamonds in its third sales cycle of this year.This was higher than the $496-million of sales recorded in the second sales cycle of this year, as well as the $524-million of sales recorded in the third sales cycle of 2018.Advertisement“As we move into the second quarter of the year, we saw a continuation of stable demand for our rough diamonds,&rdq...Read More
Shares in Canada's Stornoway Diamond Corp. (TSX:SWY) fell on Tuesday after it announced that it would halt operations at its Renard 65 open pit mine, in the Canadian province of Quebec.The company transitioned Renard, Quebec's first diamond mine, primarily underground operations in August last year, but mining the pit had continued until now.Current ore stockpiles at Renard 65 are sufficient to...Read More
LSE-listed Firestone Diamonds has recovered a 72 ct yellow diamond from its Liqhobong mine, in Lesotho.The diamond was recovered together with a 22 ct white diamond and an 11 ct fancy light pink diamond.AdvertisementThese diamonds will go on sale at the next tender, which is scheduled to take place during May.This is the second diamond of about 70 ct to be recovered from the operation this calenda...Read More
China's domestic hot-rolled coil prices continued to rise on Tuesday April 9, although the upswing drove away buyers. DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, up 30-40 yuan per tonneNorthern China (Tianjin): 3,940-3,950 yuan per tonne, up 40 yuan per tonneSellers raised prices following an uptick in the futures market. Buyers, however, cut procurement rate...Read More
Rebar prices in eastern China surged further on Tuesday April 9 on an optimistic outlook among sellers for demand to strengthen over the rest of this month.Domestic Eastern China (Shanghai): 4,070-4,100 yuan ($606-610) per tonne, up 70-90 yuan per tonneNorthern China (Beijing): 3,960-3,990 yuan per tonne, up 10 yuan per tonneEnd-user demand for rebar has been strong since mid-March and is expected...Read More
Anglo American's De Beers said Tuesday it saw rough diamond sales value jump about 10% in the third sales cycle of the year on the back of stable demand.The world's top diamond producer by value, which reports on 10 sales cycles each year, sold $575 million in its third sales cycle of this year, the highest since the fifth cycle of 2018, when it recorded $581 million.Chief executive Bruce Cleave...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom.Latest transaction: billetBillet China,...Read More