Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday May 15.China A firm domestic price, despite sluggish overseas demand, is supporting the price increase as well as higher offers in the market. The domestic supply of silicon grade-553 is very tight. Hoshine's silicon plant in Xinjiang is only operating at one third of its capacity. Many plants...Read More
Donna Vareha-Walsh, director of sales and global supply chain for Indium Corp, has been elected to serve as vice chair of the Minor Metals Trade Association (MMTA) and take over as chair in April 2021.As vice chair, Vareha-Walsh will work closely with current chairman Simon Boon, and assume his position in April 2021 following the MMTA annual conference in Charleston, United States.Boon has been i...Read More
Key data from Fastmarkets' pricing session in Europe in the week to Friday May 15.Key drivers Antimony prices continue to fall on sluggish demand and limited inquiries, with some traders in Rotterdam cutting offers to secure sales. Major producer Shan Twinkling Star's production suspension had fueled recent gains...Read More
The Indian silico-manganese export price range fell 6% last week after export sales have been declining since the start of May when suppliers pushed prices higher, in line with stronger manganese ore prices and after manganese alloys production was slashed in India, Fastmarkets heard. In Europe, high-carbon ferro-manganese and silico-manganese market prices also eased amid quiet spot activity and...Read More
Ferro-silicon prices fell by almost 9% in Europe over the past week, with suppliers cutting their offer prices and doing deals well below the previous market range, sources said.Steelmakers were already rolling over quarterly settlements into the third quarter from the current quarter, suggesting quieter demand and further downward pressure on spot prices in the coming months, trade sources said.F...Read More
In April, Longview Power filed for bankruptcy. The company's main asset is its 700 megawatt (MW) coal-fired power plant in West Virginia, which produces enough electricity to continuously power more than 500,000 homes.The company said the decision was taken "as a result of substantially lessened demand for electricity due to long term power-pricing pressure caused by cheap natural gas, an unseason...Read More
The S&P/TSX Venture Composite Index rose 3.32% to 508.99 and gold continued to make gains, rising US$39.30 per oz., or 2.26%, to close at US$1,742.20 per ounce.Abitibi Royalties saw its share price jump $1.01 to $22.00 with news of an updated resource estimate for their New Alger royalty. The company has a 1% net smelter return (NSR) royalty at the property, which is owned by Renforth Resources. T...Read More
As decisions about reopening businesses continued to vary from state to state in the U.S., the Dow Jones Industrial Average fell 2.73% to 23,685.42, while the S&P 500 dropped 2.31% to 2863.70. Meanwhile, gold maintained its lustre amid the COVID-19 pandemic as it continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%.Franco-Nevada continued to gain market v...Read More
After starting the May 11-15 trading week with some gains, the S&P/TSX Composite Index closed down 2.24% to 14,638.90. Spot gold continued to rise, ending the week at US$1,742.20 per oz., a gain of US$39.30 per oz., or 2.26%, and the S&P/TSX Global Gold Index advanced 4.86% to 370.32. The S&P/TSX Global Base Metals Index fell 3.57% to 75.88, while the S&P/TSX Global Mining Index increased 2.84% to...Read More
Market focus is on the annual sittings of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference, or "twin sessions", later this week, with the fate of ferrous supply chain prices depending on its aftermath. The annual gatherings of China's national legislature and top political advisory board are the major risk events market par...Read More
Stocks were on a tear in April, almost clawing back everything they lost in March.Much of that rally has been pinned on the hopes that lockdowns would be over and the coronavirus would be sorted in short order.But the more we hear from medical experts and more fundamentally, from the rising numbers ofRead full newsRead More
Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or the "Company") is pleased to report mine construction activities at its PureGold Red Lake Mine in Ontario are on schedule for first gold pour before the end of the year.Work to date has proven we have a clear and precise understanding of theRead full newsRead More
"San Marco Resources is very pleased to announce it's new Strategic Investor, The Augusta Group, lead by Richard Warke, which has an industry leading track record of value creation totaling over C$ 4.5 Billion in exit transactions since 2011! Read more: https://t.co/YumSlADJhW"Read full newsRead More
Top TSX stocks at large have surged more than 30% from their 52-week lows in March. The ongoing market rally is indeed notable as the stocks have stayed strong despite recession concerns and rising tensions on the pandemic front.Interestingly, some of these top stocks could turn weak going forward while the rally could continue for some. I will cover two such TSX stocks that appear well placed in...Read More
Visible gold from Eastern Gold Zone mineralization at Perron Credit: Amex Exploration. Amex Exploration has released drill results from the Eastern Gold zone (EGZ) and Grey Cat zone (GCZ) at its wholly owned Perron property in Quebec.At the EGZ, Amex drilled a wedge hole off of a prior intercept; this drillhole returned 19.7 metres of 5.36 g/t gold starting at 805 metres downhole and includes hi...Read More
A haul truck placing ore on the leach pad at Fiore Gold's Pan gold mine in Nevada. Credit: Fiore Gold.Fiore Gold (CVE: F) has released an updated resource estimate for its wholly owned Golden Eagle project in Washington, within the past-producing Republic/Eureka mining district.Measured and indicated resources are now at 45.4 million tonnes grading 1.38 g/t gold and 6.44 g/t silver for a total o...Read More
I've been talking a lot recently about China's laser weapon primacy over the United States.China has been using these weapons for years to disrupt U.S. operations around the world, and the ulimate goal is to deploy them against military and infrastructure targets.But America has laser weapons, too.In fact, it was the the Navy that deployed the world's first ever offensive laser weapon - a cannon o...Read More
Sandvik TH663i Credit: Sandvik. As part of its long-term commitment to sustainability, Sandvik continues with its program to develop Stage V-compliant underground loaders and trucks for the mining industry. The company is now testing the first truck with this new engine technology at the Tara mine in Ireland. This follows the launch of its first Stage V loaders in December of 2019.Sandvik's fla...Read More
Kainantu gold mine, PNG. Image courtesy of K92. K92 Mining (TSXV: KNT) on Tuesday reported a significant resource increase at the high-grade Kora deposit at its Kainantu gold mine in Papua New Guinea. The updated resource estimate is based on surface and underground exploration diamond drilling and underground face sampling.Measured and indicated resources now total 1.1 million ounces at 10.45...Read More
Image from YPM Toronto. Young Mining Professionals (YMP) Toronto has announced that its Mining Cares initiative has raised C$190,420 for the United Way Greater Toronto covid-19 Emergency Relief Fund.Generous donors of YMP Toronto raised C$95,210, with YMP Toronto matching the first C$5,000 of donations. All of these funds were matched by Polar Asset Management and other leaders in the asse...Read More