The second-tier segment of the seaborne coking coal market took the spotlight on Tuesday April 23, with a transaction being concluded above prevailing prices.A cargo of second-tier hard coking coal, scheduled for loading in end-April, was sold to an end user in Guangxi Zhuang Autonomous Region at $191 per tonne cfr China during the day, sources told Fastmarkets.This is $7 per tonne higher than a s...Read More
Eastern promise for PolarXSPONSOREDpolarxThe analysts do not expect ‘base case' projects moving through the development phase now to upset long-term copper market balance.They were aware of market concerns about an avalanche of supply creating surpluses and price weakness, but said: "We disagree.Eastern promise for PolarXSPONSOREDpolarx"The mining industry has faced persistent headwinds, ref...Read More
Egypt, the largest consumer of direct reduced (DR) grade pellets in North Africa, may face a short-term pellet shortage as a result of Vale's production cuts, Fastmarkets heard at the North Africa Iron & Steel Summit in Cairo on April 16-17."There will be a challenge in the next few months to secure DR pellets [a feedstock for direct-reduced iron making] as a knock-on effect of Vale's accident," o...Read More
Eastern promise for PolarXSPONSOREDpolarxKores has participated in the project, which commenced production in February, since 2012, while reports it wants to sell its interest began circulating as long ago as 2014. The company aims to select a final bidder in May. In January 2018, it sold a precious metal stream its Cobre Panama interest to Franco-Nevada for US$178 million.Kores was a founding par...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resources"Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this agreement with them," said Cornerstone's president and CEO Brooke Macdonald.Cornerstone has almost completed an environmental impact assess...Read More
The London Metal Exchange has abandoned a planned accelerated timeline for its cobalt contract to meet new responsible sourcing principles, chief executive officer Matthew Chamberlain said on Tuesday April 23. This comes as the LME launched a formal market-wide consultation on proposed rules for the application of responsible sourcing principles to all LME-listed brands. These rules build on the s...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Futures responded to a series of better-than-consensus firsts quarter reports.Whirlpool (WHR $139.36) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance. United Technologies (UTX $136.91) is expected to op...Read More
Lead prices can find support from any improvement of auto sales in China, while the contraction in automotive sales is losing momentum, ICBC Standard Bank said in a research note on April 17."Any improvement in the autos sector would present an important change for both lead and palladium [prices]," ICBC Standard Bank, a leading financial market and commodities bank, said.The lead cash price on th...Read More
Negative pressure arising from delays in the electric vehicle (EV) and energy storage markets have reduced the demand for Umicore's cobalt cathodes materials, Umicore chief executive officer Marc Grynberg said during a conference call on Tuesday April 23.The previous projections of 100,000 metric tonnes of cathode materials sales in 2019 and 175,000 metric tonnes of capacity by the end of 2021 are...Read More
Chinese battery producer Greatpower Technology Co plans to produce 30,000 tonnes per year of battery-grade nickel sulfate and cobalt sulfate by the end of 2019. Greatpower's projected nickel sulfate production target has been announced in tandem with plans to double cobalt sulfate output by the same deadline from 15,000 tpy of the material now being produced. Nickel sulfate will be produced at Gre...Read More
Last week, I talked about a new way that Congress might hurt lots of Americans who have used IRAs to save lots of money and I said this was just the latest in a long list of transgressions against well-prepared retirees. If you happen to be a Baby Boomer with even moderate retirement income, you're probably familiar with one of the biggest examples.Or, if you started collecting Social Security ben...Read More
Bruce Grewcock, chairman and CEO of Peter Kiewit Sons' Inc. and a graduate of Colorado School of Mines, will give the keynote address at his alma mater's Spring 2019 Undergraduate Commencement ceremony on Friday, May 10.A Fortune 500 company and the fifth-largest general contractor in the United States, Kiewit provides construction and engineering services to a variety of markets including buildin...Read More
Since becoming president and CEO of Ascot Resources (TSXV: AOT; US-OTC: AOTVF) in October 2017, Derek White has consolidated gold properties in British Columbia's Golden Triangle with the acquisitions of IDM Mining and its Red Mountain gold-silver project, and the purchase of the Silver Coin gold-silver property from Jayden Resources (TSXV: JDN) and Mountain Boy Minerals (TSXV: MTB).Red Mountain,...Read More
In early April 2019, Mountain Province Diamonds (TSX: MPVD; NASDAQ; MPVD) updated the resource estimate for its Faraday 2 kimberlite - one of several kimberlites at its Kennady North diamond project in the Northwest Territories. This is the first update to the Faraday 2 kimberlite resource since 2017. The Faraday 2 kimberlite now contains 2.07 million inferred tonnes grading 2.63 carats...Read More
Canada's benchmark index rose 0.8% to 16,612.81. The S&P/TSX Global Mining Index fell 2.5% to 76.22 and the S&P/TSX Global Gold Index fell 3.5% to 186.63. The spot gold price fell 1.1% to US$1,275.50 per ounce.Shares of Euro Copper rose $1.05 to $17.86. The company cut 25 metres grading 7.56% copper from 134 metres downhole in the southern extension of its Vermelhos mine on its Vale do Curaca prop...Read More
BMO Capital Markets has initiated coverage of Probe Metals (TSXV: PRB; US-OTC: PROBF) with an outperform rating and a $2.00 target price - double its current share price of 98 ?.The junior explorer's wholly owned Val d'Or East project "is one of the higher quality Canadian gold exploration properties, with good prospectivity for resource growth and the potential to transition towards a development...Read More
The S&P/TSX Venture Composite Index fell 1.5% to 609.21, continuing its steady April decline.Shares of Millennial Lithium rose 18 ? to $1.75, after the company doubled the resource at its Pastos Grandes lithium project in Argentina. The project now contains 1.8 billion measured and indicated cubic metres brine grading 427 milligrams per litre lithium and 4,440 milligrams per litre potassium, for 4...Read More
Saudi Arabia, the world's top oil exporter and OPEC's largest producer, has influenced the oil market and oil flows since the middle of the 20th century.Shortly after the 21st century began, one of Saudi Arabia's key customers made its first steps toward becoming one of the Kingdom's main competitors on the global oil market: the United States began fracking for oil in the mid-2000s. By the end of...Read More
Benchmark Metals (TSXV: BNCH) announced that on June 15, 2019, it will start a drilling program at the Lawyers gold-silver project located in British Columbia's Toodoggone Mineral District.In a media statement, the Edmonton-based firm said the drilling will focus on infill, step-out and deeper drilling to expand the current resources at the zones known as Cliff Creek and Dukes Ridge and establish...Read More
German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday.The announcement came as the London Metal Exchange (LME) launched an initiative under which it could ban or delist brands that are not responsibly sourced by 2022 to help root out metal t...Read More