Seaborne premium hard coking coal prices slumped on Tuesday October 13, with the latest transactions agreed at lower prices while other participants watched the market for developments.Fastmarkets indicesPremium hard coking coal, fob DBCT: $125.04 per tonne, down $6.04 per tonnePremium hard coking coal, cfr Jingtang: $135.76 per tonne, down $4.38 per tonneHard coking coal, fob DBCT: $111.02 per to...Read More
ELKO, Nev., Oct. 13, 2020 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the "Company"), a gold exploration and development company, today announced that it has issued a letter to its shareholders outlining the Company's recent and expected milestones, as it continues to advance its assets and projects. Recent Company highlights include:Acquisition of Northern Panther Resource Corporation, which...Read More
Seaborne iron ore prices buckled on Tuesday October 13, amid soaring port inventories in China and weakened demand for finished steel, according to trade sources.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.15 per tonne, down $3.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.30 per tonne, down $3.14 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112...Read More
The three-month copper price on the London Metal Exchange softened toward the $6,700-per-tonne support level during morning trading on Tuesday October 13, despite another fresh cancelation of 12,150 tonnes, while positive forward spreads and steady trading volumes kept LME tin futures elevated. The LME copper price was recently trading at $6,715.50 per tonne, down from Monday's closing price of $6...Read More
Chinese exports of unwrought aluminium and aluminium products fell slightly on a year-on-year basis in September while imports of unwrought copper and copper products continued to increase, according to Chinese customs data released on Tuesday October 13.Chinese exports of unwrought aluminium and aluminium products fell slightly on a year-on-year basis in September while...Read More
China's domestic rebar prices dipped on Tuesday October 13 due to a drop in demand amid a weakening of the futures market.DomesticEastern China (Shanghai): 3,710-3,740 yuan ($551-555) per tonne, down by 10 yuan per tonneBuyers cut their procurement rates during the day, having done some replenishment over last Friday and Monday.A trader said his customers were planning to wait out the spot market...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Tuesday October 13, while those on the Shanghai Futures Exchange were either unchanged or firmer, as were equities. Equities seem to be maneuvering for a United States democratic presidency and all the extra stimulus that might bring. But LME metals are not following equities this morning. Base metalsTh...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
Stainless steel sheet prices in the United States have again risen in line with higher surcharges, while demand levels increased and lead times extended, Fastmarkets understands.Fastmarkets' price assessments for stainless steel 304 cold-rolled sheet, fob mill US and for stainless steel 304L cold-rolled sheet, fob mill US rose to $127 per hundredweight and $129 per cwt respectively on Monday...Read More
OceanaGold (TSX: OGC) has implemented the permanent lay-off of 496 employees at its Didipio gold and copper mine, located across the Nueva Vizcaya and Quirino provinces on the island of Luzon, Philippines.Along with the termination of direct employees, approximately 400 people working as contractors are also impacted, according to the miner."The company may be required to implement a second-round...Read More
This week's episode features highlights from the ground-breaking ceremony for Iamgold's C??t?(C) gold project in Ontario. Speakers at the event included Prime Minister Justin Trudeau, Premier Doug Ford and Mattagami First Nation Chief Chad Boissoneau, all of whom emphasized the high paying jobs that would result from the project. The speakers also discussed how the mining industry could play a rol...Read More
The future of the Ekati diamond mine in Canada's Northwest Territories remains uncertain after Dominion Diamond Mines announced that a deal to sell it to a subsidiary owned by its parent company, The Washington Companies, has fallen apart.Dominion Diamond reported on Oct. 9 that three insurance companies - Aviva Insurance Company of Canada, Argonaut Insurance and Zurich Insurance - had reached "an...Read More
Researchers from the University of Alberta, Penn State University and the University of Padua discovered diamonds in an outcrop at an unrealized gold deposit in Canada's Nunavut territory, an association that mirrors what can be found in South Africa's Witwatersrand Goldfields.The Witwatersrand Goldfields comprise the world's biggest gold deposit, responsible for more than 40% of the gold ever min...Read More
Customs officials in southern China have impounded just under 10,000 tonnes of copper 'concentrates' after it turned out to be smelting waste, which is prohibited from entering the country.Customs inspectors at Fangchenggang, in Guangxi province in southern China, said the cargo was reported by a Shanghai-based company as copper concentrates - a feedstock used by copper smelters for making refined...Read More
BHP (NYSE: BHP; LON: BHP) has reached an eleventh-hour deal with a coalition of Aboriginal land councils, as shareholders were pushing for a halt to all mining on sacred Indigenous sites leading up to a vote on the matter in Wednesday's annual general meeting.The move follows increased pressure on miners to protect cultural landmarks after Rio Tinto (LON: RIO) blasted a 46,000-year-old sacred site...Read More
According to the popular adage, copper has a doctorate in economics, with an ability to predict turning points in the global economy. This proverb stems from the metal's use in widespread applications, from power generation and electricity distribution to iPhones.Since the end of March, the price of the base metal has recovered remarkably well, rising from barely US$4,900 per tonne to over US$6,60...Read More
While digital transformation has rocked the mining industry, the pandemic accelerated the shift to remote working, amplifying the demand for state-of-the-art technology to keep teams virtually connected to on-the-ground operations.TIMining, a global technology company dedicated to the mining industry with offices in Santiago and Perth, has multiple software platforms for different processes being...Read More
A group of Indonesian state-owned companies will form a venture to make batteries to power electric vehicles, the Mining Industry Indonesia (MIND ID) chief executive said on Tuesday.Read full newsRead More
When miners at Indonesia's giant Grasberg gold and copper mine started testing positive for coronavirus early in the pandemic, the mountain-top mining complex was quickly locked down with a skeletal staff left in place to maintain production.Read full newsRead More