Base metals on the London Metal Exchange closed lower on Friday December 12, with a higher dollar and stock increases putting pressure on prices.Aluminium closed at a slightly lower $1,926 per tonne - a 57,000-tonne delivery into LME-listed warehouses this morning ruled out a move back towards $2,000 per tonne.The three-month copper price also closed slightly lower than Thursday's closing level at...Read More
Comex copper prices weakened in morning trading on Friday December 14 after a release of softer Chinese industrial data, placing stress on the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 1.85 cents to $2.7485 per lb.Analysts said weaker Chinese economic data was pressuring the base metals complex as a whole this...Read More
The three-month aluminium price on the London Metal Exchange shrugged off a net inflow of 57,525 tonnes on Friday December 14, mostly into warehouses in Port Klang.Aluminium traded at $1,923.50 on Friday morning down 0.4% from Thursday night's close. Friday's deliveries into Port Klang LME sheds follows a 24,875 tonne delivery on Thursday and 23,925 tonnes oin Monday, both to the same area.Th...Read More
Wheaton Precious Metals' (TSE: WPM) shares surged over 14% Friday, following the company's announcement that it had a reached settlement with the Canada Revenue Agency (CRA). The settlement provides for a final resolution of Wheaton's tax appeal in connection with the reassessment under transfer pricing rules for 2005 to 2010.Wheaton Precious Metals is one of the largest precious metals streaming...Read More
High expectations often come at a cost. For Chile's President Sebastian Pinera, the second year in office looks to be riddled with challenges in keeping up with lofty promises of economic revival, passing important tax and pension reforms in a congress where he does not have majority, and unraveling redtape to stoke investment. Not to mention, the risk of the global trade war that would hurt coppe...Read More
Falcon Gold (TSXV: FG) reported that it completed its 2018 exploration program this week on the Esperanza Resources mineral concessions located in La Rioja province, western Argentina.According to Falcon Gold, the work program was focused on three of its seven concessions, namely ERSA VIII, IX, and X. The idea was to advance the company's knowledge of the historically identified gold, silver and c...Read More
LONDON - Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1 billion, two sources familiar with the matter said.Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this year set up a special committee to identify strategic alternatives including joint ventures and a...Read More
Australian miner and infrastructure supplier Mineral Resources (ASX: MIN) signed Friday a binding deal to sell a stake in its Wodgina Lithium Project and form a joint venture with US-based battery metals giant Albemarle for $1.15 billion.The agreement gives Albemarle a 50% interest in all mineral rights within the Wodgina tenements, other than iron-ore, which Mineral Resources will retain, and Tan...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Global ferrous scrap prices fell by $5 per tonne or less during the week ending Friday December 14 following a period of quieter trading.The Turkish market witnessed another week with no new cargoes booked, leaving prices virtually unchanged, while US prices were flat, which was also due to a lack of fresh trades.India made no bookings but prices fell by $5, as did prices for Taiwan and Vietnam.Tu...Read More
Canada's Dominion Diamond Mines and Rio Tinto shocked the market on Friday by unveiling what is believed to be the largest diamond ever found in North America, measuring in about the size of a chicken-egg.The 552-carat yellow gem quality stone, unearthed in October, measures around 3cm by 5.5cm, almost three times the size of the next largest stone ever found in Canada, Dominion - which owns 40% o...Read More
Shares in Africa-focused Firestone Diamonds (LON:FDI) shot up more than 14% on Friday after the company announced it had recovered a 46-carat white diamond at its 75%-owned Liqhobong diamond mine in Lesotho.The gem-quality stone was recovered undamaged, the miner said, and will be sold at the next tender in January.Firestone, one of the four African diamond producers part a potential four-way me...Read More
Firestone Diamonds has recovered a 46 ct white diamond, from its Liqhobong mine, in Lesotho.The diamond was recovered undamaged and will go on sale at the next tender, which is scheduled to take place at the end of January 2019.AdvertisementIn a statement on Friday, the company also reported a stabilisation in pricing for the smaller, lower-value diamonds on offer at a sale concluded on December 7...Read More
Media coverage of the diamond industry in 2018 has been dominated by the inroads made in terms of laboratory-created diamond production and distribution, as well as their pricing dynamics, independent diamond expert Paul Zimnisky observed in a statement on his website, published last month. He commented that several new players had entered the synthetic-diamond space, and that improved production...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe deal, which was announced in June, would have seen the Melbourne-based private equity firm pay US$230 million for the mine, plus around $40 million through the sale of copper stockpiled at the operation, and up to $50 million in the future depending on the copper price.The acquisition was set to close before the end of December...Read More
The Angolan government in early December approved the new regulations concerning the commercialisation of diamonds, the Macauhub news agency has reported.The country’s Council of Ministers (Cabinet) approved the regulations on December 5. The official title of the new set of rules is the Technical Regulation of the Commercialisation of Rough Diamonds.AdvertisementStrategic ObjectivesThe new...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsIn an open letter to Hudbay shareholders on Thursday, Waterton chief investment officer Isser Elishis lamented Hudbay's...Read More
Comex copper prices weakened in morning trading on Friday December 14 after a release of softer Chinese industrial data, placing stress on the base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 1.85 cents to $2.7485 per lb.Analysts said weaker Chinese economic data was pressuring the base metals complex as a whole this...Read More
The latest metal markets news and price moves to start the North American day on Friday December 14.The three-month aluminium price on the London Metal Exchange shrugged off a net inflow of 57,525 tonnes today, mostly into warehouses in Port Klang, Malaysia.Aluminium traded at $1,923.50 on Friday morning down 0.4% from Thursday night's close. Friday's deliveries into Port Klang LME sheds foll...Read More