U.S. policy through the Bush and Obama administrations was to soft-pedal questionable Chinese trade practices, pirating technology and theft of intellectual property in return for cheap manufactured goods and China's willingness to finance trillions of dollars of U.S. government debt.Now Trump has changed the rules of the game. He's said lost jobs in the U.S. are not worth the cheap goods and chea...Read More
The trade war is back on. The trade deadline came and went at midnight last night without a deal. So 25% tariffs on $200 billion worth of Chinese goods took effect at 12:01. The tariffs had previously been set at 10%.Based on Trump's comments, 25% tariffs may possibly be applied to an additional $300 billion of Chinese goods.China said it would respond with unspecified but "necessary countermeasur...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 15:Aluminium scrapLoose old rolled cuttings: ?650-675 per tonne from ?660-680Cast wheels: ?1,080-1,100 per tonne from ?1,100-1,130Commercial turnings: ?550-580 per...Read More
Last week the president thundered for a 100-basis-point rate cut... and a resumption of quantitative easing.But why has President Trump raged anew for rate cuts?After all…Latest GDP officially hums at a tuneful 3.2% - and official unemployment scarcely has existence.Is it simply because the president is a "low interest rate guy"?Is he merely setting his cap for 2020? Or is his concern far mo...Read More
Prices for mesh-quality wire rod in Europe fell this week following a drop in finished mesh product prices and due to buyer hesitance, sources told Fastmarkets on Wednesday May 15. Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe fell to ?,?515-535 ($578-600) per tonne delivered on Wednesday, down ?,?10-15 week on week from ?,?525-550 per tonne delive...Read More
Columbus Gold (TSX: CGT; US-OTC: CGTFF) wants to become a dominant player in the fledgling gold mining industry in French Guiana, an overseas department of France on the northeast coast of South America, which is made up mainly of tropical rainforest.The junior and its Russian partner, Nordgold, already own 44.9% and 55.01% of the Montagne d'Or gold deposit in northwestern French Guiana, where the...Read More
Australian gold producer St Barbara (ASX: SBM) is acquiring 100% of Canadian gold producer Atlantic Gold (TSXV: AGB) in a deal valued at $802 million.St Barbara's offer represents a 41.1% premium to Atlantic's closing share price on May 14 and a 40.8% premium to the company's 30-day, volume-weighted average price.The offer consists of $2.90 per share in cash plus a spin-out company that will hold...Read More
LA PAZ, BOLIVIA - The Bolivian government is "building a new relation between business and the state," Bolivia's Mining and Metallurgy Minister Cesar Navarro tells The Northern Miner in a sit-down interview in his government office.Soon after taking office in January 2006, Bolivian President Evo Morales laid down the law to foreign companies. The new relationship between the state and investors wo...Read More
Test results from Marathon Gold's (TSX: MOZ) Leprechaun and Marathon deposits at the company's Valentine Lake gold camp in Newfoundland and Labrador show they are amenable to heap leaching.Selected intervals of mineralized material were shipped to SGS Canada in late 2018, and highlights from the tests show a 72% gold-extraction average for a -25 mm crush size from the Leprechaun deposit after 160...Read More
The U.S. Interior Department on Wednesday renewed two mineral leases near the Boundary Waters Wilderness area in Minnesota, a key step in opening the popular wilderness and recreation area up to copper mining despite heavy opposition from local and national conservation groups.The department's Bureau of Land Management granted the hardrock mineral leases inside the Superior National Forest to Twin...Read More
Aurubis AG, Europe's largest copper producer, on Wednesday confirmed a reduced full-year earnings forecast on weak market environment and plant shutdowns, while posting a slump in its quarterly earnings.Aurubis expects operating pre-tax earnings (EBT) in its 2018/19 fiscal year to fall "significantly" by more than 15% compared with the previous year. The copper producer in February had forecast fu...Read More
Azimut Exploration and SOQUEM, a subsidiary of Ressources Qu?(C)bec, have signed the final agreement of their expanded strategic alliance, previously announced on Feb. 25.The alliance comprises nine gold and copper-gold major properties totalling 7,149 claims with a surface area of 3,277 sq. km. The properties are located in the prospective Eeyou Istchee James Bay and Nunavik regions of Quebec. Th...Read More
Canada's Ivanhoe Mines (TSX:IVN) said Tuesday it's ready to start building its first two copper mines in the Democratic Republic of Congo and significantly advance a third project after partner Zijin Mining Group added an additional C$67 million (about $49m) into the Canadian company's coffers.Zijin, China's No.1 gold producer and Ivanhoe's partner in the now massive Kamoa-Kakula copper project...Read More
Nicaragua-focused Condor Gold (LON:CNR) saw losses narrow in the first three months of the year as administrative expenses almost halved in relation to the same period in 2018.The miner logged a pre-tax loss for the period of ?352,553, compared to a ?602,678 loss a year before. This was almost entirely due to lower administrative expenses, which shrank to ?352,989 from ?602,915.In the quarter,...Read More
Currie Rose Resources (TSXV: CUI) received this week the approval of its notice of work permit application, which allows the company to start drilling at its Rossland gold project in southern British Columbia.In a press release, the Toronto-based miner said that the upcoming drill campaign is based on a review of all exploration data within the project.Besides gold, historical records identify sig...Read More
Even before the latest round of trade escalation, global trade had tumbled to levels last seen during the financial crisis depressionRead full newsRead More
China's crude oil throughput rose in April to match record daily levels, go...Read full newsRead More
Near 17% decline in Chinese car sales in April - the 11th monthly drop in a row - compounds impact of Washington-Beijing trade salvoes.Read full newsRead More
The biggest mining companies say they are well positioned to provide the metals needed for the shift to EV technology.Read full newsRead More
No decision will be made until the end of 2020, when the company expects to have completed a study on the Jadar, which is estimated to contain 10% of the world's lithium reserves.Read full newsRead More