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Aluminium market reacts to renewed Section 232 duties vs Canada

August 07, 2020 / www.metalbulletin.com

Aluminium industry participants - many of which lobbied against Section 232 tariffs - respond to US President Donald Trump's decision to reinstate the tariffs on imports of non-alloyed unwrought aluminium from Canada.Michael Bless, chief executive officer of Century Aluminum Co and a strong supporter of the Section 232 tariffs, said that their reintroduction would continue to help drive the resurg...Read More

HOTTER ON METALS: When the aluminium industry lost to Section 232

August 07, 2020 / www.metalbulletin.com

Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More

GoGold Webcast on Aug 11

August 06, 2020 / www.321gold.com

Bob Moriarty ArchivesAug 6, 2020Gold is trading near all-time highs, having already broken its former record of $1,921 an ounce, set in 2011. The historic price action is being driven by unprecedented monetary and fiscal stimulus as well as record low yields on U.S. government bonds. On Friday, July 31, the real 10-year Treasury yield closed at -1 percent, a level unseen before now. This helps imp...Read More

IN CASE YOU MISSED IT: 5 key stories from August 6

August 07, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More

Novo upsizes raising to fast-track towards production

August 06, 2020 / www.mining-journal.com

The company had announced a C$30 million placement this week, plus a $60 million secured credit facility from Sprott Private Resource Lending II, to fund its acquisition of Millennium Minerals and its Pilbara assets including a mothballed 1.5Mtpa plant.Yesterday, Novo increased its placement to $42.5 million, upped the over-allotment option from 15% to 20% and announced a non-brokered $3 million p...Read More

Cochilco increases copper price forecast for 2020 to $2.62 per lb

August 07, 2020 / www.metalbulletin.com

Chilean copper commission Cochilco has increased its forecast for the average copper price this year to $2.62 per lb, from $2.40 per lb previously, due to the recovery in the Chinese economy and a drop in inventories, it said on Thursday August 6.For next year, however, Cochilco has reduced its average copper price estimate to $2.85 per lb, from the $2.90 per lb it published in its previous market...Read More

Alaska-Alberta railway awaits Trump sign off

August 05, 2020 / www.mining-journal.com

Sean McCoshen, the founder and chairman of the Alaska-Alberta Railway Corporation, (A2A Rail) has already sunk US$110 million of his own capital to move the project to where it stands today.Read More

Sona Nanotech Updates on Timing of Clinical In-Field Validation Studies for its COVID-19 Antigen Test

August 07, 2020 / kincommunications.com

Halifax, Nova Scotia - Sona Nanotech Inc. (CSE: SONA), (OTCQB: SNANF) ("Sona Nanotech" or the "Company"), a developer of rapid, point-of-care diagnostic tests, announces that its previously announced clinical, in-field evaluation studies for its rapid detection, COVID-19 antigen test that commenced in July continue and are now expected to return their full results within two weeks. The delays have...Read More

Peru's zinc output up y-o-y in June; copper production falls

August 07, 2020 / www.metalbulletin.com

Base metal production in Peru continued to recover in June while mines reopened after a two-month lockdown to combat Covid-19, with copper and zinc production back up to January levels, the country's ministry of energy and mines, Minem, said on Wednesday August 5.Peru produced 119,174 tonnes of zinc in June, up by 2.7% from 115,990 tonnes a year before, Minem data showed. Production also grew sign...Read More

Summa Silver Corp. Closes $8,000,000 Private Placement Financing, Including a Lead Investment by Eric Sprott

August 06, 2020 / kincommunications.com

Vancouver, BC - Summa Silver Corp ("Summa Silver" or the "Company") (CSE: SSVR, Frankfurt: 48X) is pleased to announce that it has closed the non-brokered private placement financing of units of the Company (the "Units") at a price of $1.00 per Unit (the "Offering") for gross proceeds of $8,000,000. Participation in the Offering included a lead order of $5,000,000 from Mr. Eric Sprott.Each Unit...Read More

Investment, permit milestones underline Alaska's allure

August 06, 2020 / www.mining-journal.com

Companies able to provide consistently good results by the drill bit have seen their shares rewarded (see chart). Equities continue to move higher as gold climbs past US$2,000/oz.Read More

IN CASE YOU MISSED IT: 5 key stories from August 6

August 07, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More

Glencore in 'no rush' to bring Mutanda copper-cobalt mine back online - Glasenberg

August 07, 2020 / www.metalbulletin.com

Glencore will not rush to bring its Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) back into production ahead of an increase in demand from the electric vehicle sector, and while cobalt prices are low, chief executive officer Ivan Glasenberg said during an investor call earlier today. Mutanda was put on care and maintenance for at least two years at the end of November 2019 f...Read More

DAILY STEEL SCRAP: Prices edge up further in new transactions

August 07, 2020 / www.metalbulletin.com

The Turkish steel mills have continued their deep-sea scrap purchases for September shipments at escalating prices, sources said on Thursday August 6.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $283 per tonne, shredded at $288 per tonne and bonus at $293 per tonne cfr. The cargo breakdown was not clear, but the normal cargo size from this supplier...Read More

BANGLADESH STEEL SCRAP: Mills re-enter market for Japan, US scrap

August 07, 2020 / www.metalbulletin.com

Activity in the bulk import market for steel scrap sold to Bangladesh has increased over the past week, with fresh buying interest in Japan- and US-origin material, market sources told Fastmarkets on Thursday August 6.Market chatter on Thursday centered on fresh bids for Japan-origin scrap in bulk and renewed activity in the deep-sea import market for US West Coast scrap, at higher prices than the...Read More

RESEARCH: Key takeaways from the latest Steel Raw Materials market tracker

August 07, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More

MORNING VIEW: Broader markets mixed, but weight of money buoys metals, equities

August 07, 2020 / www.metalbulletin.com

Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday August 6, but the complex was up by an average of 0.4%.Pre-market major western equity index futures and equities in Asian-Pacific markets were also mixed.Western markets waiting for news on a stimulus package announcement by the United States this week, as well as Friday US employment report... ...either...Read More

Ontario Supports Health Sciences Sector in the North

August 06, 2020 / news.ontario.ca

SUDBURY - The Ontario government is providing more than $1 million to help two companies in Sudbury develop new treatments, devices and technologies to support the health sciences sector. The funding will be delivered through the Northern Ontario Heritage Fund Corporation (NOHFC) and create eight new jobs."Supporting the health sciences sector across Northern Ontario is an important part of our go...Read More

Sable Resources Ltd. (TSXV: SAE): Developing a Large Portfolio of Highly Prospective Greenfield Projects to Resource Stage, in Mexico, Argentina, and Peru; Dr Ruben Padilla Interviewed.

August 05, 2020 / www.metalsnews.com

We learned from Dr. Ruben Padilla, President and CEO of Sable Resources Ltd. (TSXV: SAE), that Sable is a well-funded junior grassroots explorer, focused on the discovery of new precious metal projects, through systematic exploration in endowed terranes, located in favorable, established mining jurisdictions. Sable's main focus is developing its large portfolio of new greenfields projects, located...Read More

Trade log: Cobalt alloy grade, in-whs Rotterdam, $/lb

August 07, 2020 / www.metalbulletin.com

The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy grade, in-whs...Read More

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