Anglo American's base metals division will get its own executive to run operations as part of a change to its top management team, the company said on Thursday January 3. Base metals operations, which currently function under the strategy and business division, will be separated on March 1 and run by Ruben Fernandes, the current chief executive officer of Anglo American Brasil. The miner has also...Read More
Fastmarkets worked to empower its customers in 2018 - a year when they had to navigate metal markets in which fundamentals were often tightening even as greater political restraints were placed on trade than for many years.Here's a quick review of the key developments, which also indicate our direction for 2019:We consulted in detail with the industry to meet its requirements for greater transpare...Read More
The company said in early December the Ethiopian government would formally sign off on its resettlement plan, project financing and construction schedule for the gold project "in the coming weeks". Sign-offs are needed for these on top of the mining licence, which Kefi got in 2015. The company now says this round of approvals will be done by the end of January."We reported that we expect...Read More
Treatment and refining charges (TC/RCs) for spot copper concentrates dropped at the end of December, with smelters returning to the market in earnest to pick-up tonnes after securing annual contracts.The Fastmarkets copper concentrate TC/RC index dropped to a three-and-a-half month low of $84.30 per tonne / 8.43 cents per lb on December 31.Spot terms have been inching down since the start of the m...Read More
The Vancouver Resource Investment Conference (VRIC), to be held on January 20-21, is shaping up to be the largest show in six years, organiser Cambridge House International CEO Jay Martin told MiningRead More
There have been no details released on the pricing multiple paid by Potentia or even how large a stake it bought.Micromine, among the world's largest privately-owned mining software and technology companies in a fragmented market, produces geological exploration, data management, resources estimate, three-dimensional mine design, planning and production control solutions.Potentia is a Sydney-...Read More
The tribe had challenged the Environmental Protection Agency (EPA) and the US Army Corps of Engineers' apparent failure to exercise jurisdiction over Aquila's wetlands permit for its Back Forty project.The Michigan Department of Environment Quality issued Aquila the wetlands permit in June, causing its shares to spike, but the tribe objected, claiming the federal government was responsible for iss...Read More
The Zambian government has decided to go ahead with the application of a new import duty on copper concentrates this month despite strong opposition from the country's copper producers.The producers told Fastmarkets on Thursday January 3 that they will be compelled to slash output and to lay off mine workers as a result of the new duty."No announcement has been officially issued by the government....Read More
Fastmarkets worked to empower its customers in 2018 - a year when they had to navigate metal markets in which fundamentals were often tightening even as greater political restraints were placed on trade than for many years.Here's a quick review of the key developments, which also indicate our direction for 2019:We consulted in detail with the industry to meet its requirements for greater transpare...Read More
CloseGain/LossGold $1294.60+$11.60Silver$15.73+$0.22XAU72.17+1.73%HUI163.37+1.65%GDM597.67+1.98%JSE Gold1445.45+47.57USD96.25-0.54Euro113.99+0.55Yen93.40+1.71Oil$47.09+$0.5510-Year2.560%-0.095T-Bond148.4375+1.6875Dow22686.22-2.83%Nasdaq6463.50-3.04%S&P2447.89-2.48% The Metals: Gold gained $9.30 to $1292.30 in Asia before it dropped back to $1284.80 just after 8:15AM EST, but it then climbe...Read More
- Gold acts as hedge in 2018 - up 2.7% and 3.8% in euros and pounds (see tables & charts)- Stocks fall sharply - S&P500, FTSE & Euro Stoxx 5o fall 6.25%, 12.5% & 15% respectively- Worst year for most international equity indices since 2008- Sharp falls in economically sensitive commodities: oil (WTI), gasoline and lumber down 24.2%, 27% & 23.8% respectively- Volatility surges as seen in VIX ris...Read More
Traders and investors are focused on a global slowdown. Economic data releases worldwide need to beat street expectation to change the negative sentiment. US December private ADP numbers need to beat street expectation for the US dollar to rise and gold and silver to correct. However political uncertainty in the UK and Eurozone will prevent a major collapse in gold and silver. I will prefer to u...Read More
Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More
Ningxia Tianyuan, the world's largest manganese flake producer, is still not operating at its full 800,000 tonne per year capacity, sources told Fastmarkets MB. The company was expected to resume full production in December, following seven months of lower output. The company is currently operating at a reduced capacity of 1,600 tonnes per day, sources at the company said. Their full daily...Read More
The Turkish scrap import market was silent on Thursday January 3, with the mills staying away from scrap purchases due to sluggish finished steel demand in Turkey. Most suppliers were still on leave due to the New Year holiday, sources said.The most recent cargo booked into the country took place last weekend from the Baltic Sea, at $283 per tonne cfr for HMS 1&2...Read More
Comex copper suffered a third straight decline this morning in the United States to begin the New Year, with continued recession worries and equity market instability sinking the commodities complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange sank 3.15 cents to $2.5915 per lb. In macro news, concerns over global economic health have persiste...Read More
Gold and silver looking good, still, so far… Remember, in a “legit bull market” for precious metals, silver will lead gold…This separation fits the description, but will need to widen considerably, with silver outperforming gold significantly, for a true bull market to be in play…The gold-to-silver ratio will need to fall sharply as well, from current levels (80 and a...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively.Volume across the complex has been high with 11,375 lots traded as at 06.58am London time.Wednesday's trading saw three-month LME base metals...Read More
Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More
It's the dumbest New Year's resolution I've ever heard."This year, I'm going to start investing and start getting rich!"You know what kind of people make New Year's resolutions like that?Poor people!Why would anyone "wait" to get rich?If it were the middle of summer and you figured out a way to more than double your money on a single stock, would you wait until the new year to buy that stock? Of...Read More