Seaborne iron ore prices fell back on Wednesday May 8, following a downturn in both the futures and steel markets.MB 62% Fe Iron Ore Index: $95.57 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.25 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.29 per tonne cfr Qingdao, down $0.57 per tonne. MB 58% Fe Premium Index: $86....Read More
A wave of consolidation is coming in the gold mining industry, but don't count on buyers overspending on assets, B2Gold Corp. chief executive officer Clive Johnson said."You have an environment now where people are learning their lesson, which is don't get in bidding wars and pay crazy premiums to acquire companies," Johnson said in a telephone interview Wednesday. That means "companies that aren'...Read More
U.S. markets have had a bad week. After reaching all-time highs recently - the Dow at 26,656.39 on April 23 (not quite new high), the S&P 500 at 2,945.83 on April 30, and the Nasdaq Continue...Read More
Avesoro Resources (TSX: ASO; LON: ASO) has increased the mineral reserves at its Youga gold mine by 23% - extending the mine life of the Burkina Faso open-pit operation by an additional four years to 2031.The junior, which also produces gold at its New Liberty mine in Liberia, says proven and probable reserves at Youga now stand at 14.74 million tonnes grading 1.72 grams gold per tonne for 814,900...Read More
United States-origin bulk ferrous scrap is undercutting Japanese H2 heavy scrap in the Asian spot markets despite stable demand from buyers in recent weeks.Significant price drops in the US domestic market have led to a fall in export offers from the US West Coast, leading to lower bids from buyers in Asia. VietnamHeavy melting scrap 1&2 (80:20) was being offered at...Read More
Hecla Mining has mounted an aggressive exploration program at its successful Casa Berardi gold mine 95 km north of La Sarre, in the Abitibi region. High grade extension in the upper East and West mines have been outlined and are potential new underground mining areas.The high grade 113 zone has also been drilled. It may link or intersect the western limit of the 118 zone, defining a significant re...Read More
"To end homelessness, we have to recognize our common humanity. The #DearNeighborLA murals send a strong message of support for housing homeless Angelenos. The first mural Continue...Read More
"The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time," Binance said in a statement.Continue...Read More
On his second day in office, Michael Goehring, newly appointed president and CEO of the Mining Association of British Columbia (MABC), was caught in a flurry of requests from multiple parties anxious for his attention.After a brief vacation in Las Vegas, Goehring started his role on May 1, directly following two decades in his previous position as partner at National Public Relations, Canada's lar...Read More
For about a century, starting in the 1860s, the most prolific gold mining region of British Columbia was the Cariboo.The town of Barkerville, which sprung up in the Cariboo gold rush, was once a bustling town of 5,000.But by the 1950s, gold mining had pretty much dried up in the area, and the town of Barkerville was saved from becoming yet another B.C. mining ghost town only when it was turned int...Read More
Canadian miner Kinross Gold (TSX:G) (NYSE:KGC) is evaluating options for returning to long-term production in Chile, the world's top copper miner, where the company already has two key assets.One alternative the company is very keen on is resuming mining at its La Coipa gold and silver mine, located in Chile's northern Atacama Region, it said while delivering first quarter results on Tuesday.Alte...Read More
Canada's Barrick Gold (TSX:ABX)(NYSE:GOLD), the world's second-largest producer of the precious metal, said Wednesday it had pinned down assets worth about $1.5 billion that it intends to sell through next year, adding it also remains open to acquiring new projects.President and chief executive officer, Mark Bristow, said Barrick would offload the unwanted assets once they are optimized enough t...Read More
The consensus is Bob Moriarty's book imparts valuable knowledge and can save investors from making costly mistakes. Bob Moriarty, veteran resource investor and founder of 321 Gold and 321 Energy, is known for speaking his mind, something that he does on his websites and in his books.His latest book, "Basic Investing in Resource Stocks: The Idiot's Guide," has made Amazon's best seller list for c...Read More
Fastmarkets published its CIS export billet index later than scheduled on Wednesday May 8 but it is now appearing as normal.Fastmarkets' CIS export billet index, fob Black Sea, was published in the price book later...Read More
Iranian export prices for steel slab and billet have decreased over the past week with deals agreed at lower values, sources told Fastmarkets on Wednesday May 8.Recent bookings for Iran-origin steel billet were heard done in Asia at $380-385 per tonne fob. The total volume of these exports was more than 40,000 tonnes.Fastmarkets' weekly price assessment for Iranian...Read More
Demand for flat steel in Turkey failed to improve in April, with most prices moving downward and with demand unlikely to improve significantly this month, market participants told Fastmarkets on Wednesday May 8.Local producers have filled their order books until late June, they added.The price decreases in April were because of the weak demand in both the local and export markets.Mayoral elections...Read More
Key data from the Wednesday May 8 pricing session in Europe. Key drivers The European ferro-titanium price was stable week on week, extending a steady trend for the fourth pricing session in a row.Scrap markets have been steady for the third consecutive week. Alloy supply worries are supporting prices despite low key trading activity in the week to Wednesday. Market sentiment is being...Read More
Import prices for stainless steel in East Asia fell over the week ending on May 7 amid a downturn in the London Metal Exchange nickel price and limited buying interest.The LME three-month nickel contract ended the official trading session at $12,040-12,050 per tonne on May 7, down by $400 per tonne from the close on May 1. The LME nickel price hit a 2019 peak of $13,650-13,660 per tonne on March 6...Read More
U.S. and Chinese officials will talk trade tomorrowAfter a shaky start, the Dow managed to rebound around midday, and was up more than 150 points at its session peak. However, the index erased most of those gains by the close, and the S&P and Nasdaq settled a volatile session lower, as Wall Street weighed the latest trade headlines. While President Donald Trump said Chinese Vice Premier Liu He is...Read More
Walmart plans to hike the buying age for tobacco sales to 21Stocks have made an unexpected turnaround this afternoon, following confirmation out of the White House that China is ready to make a trade deal. Also making moves this afternoon are Cincinnati-based Workhorse Group Inc (NASDAQ:WKHS), tobacco name Philip Morris International Inc. (NYSE:PM), and biopharma Protagonist Therapeutics Inc (N...Read More