Key data from Fastmarkets' pricing session in Europe on Wednesday January 8. Key drivers The price of ferro-titanium and titanium scrap markets was steady in the first week of January, a level it has maintained since December 18.Suppliers are jostling for position ahead of expected renewed demand from consumers. But there were some reports of lower-level forward offer prices and more scrap a...Read More
Fastmarkets has relaunched its ores and alloys cuts counter to track widespread production cutbacks amid the current low prices.A number of ores and alloys prices were at multi-year lows due to oversupply.Chrome ore and ferro-chrome prices were particularly subdued, prompting a series of production cuts while producers also dealt with rising costs.Fastmarkets' price assessment for ferro-chrome, 50...Read More
Ferrous scrap prices in Mexico rose during the first week of the year, with some of the country's major steelmakers increasing their prices to maintain raw material supply.Several market participants indicated that steelmakers in the country's central Baj?-o region applied price increases of around 500 pesos ($26) per tonne due to low availability of material.Some Mexican steelmaker...Read More
Japan is expected to divert more of its ferrous scrap export supply to Vietnam and Bangladesh in 2020 due to weaker demand from neighbor South Korea, market sources in Japan told Fastmarkets."South Korean demand for ferrous scrap is expected to fall further in 2020 compared with 2019, and Japanese scrapyards will have to target new markets to send their materials," a Japanese trader told Fastmarke...Read More
Anglo American (LON: AAL) may be the company that throws a much-needed lifeline to Sirius Minerals (LON: SXX), the British junior struggling to build a huge fertilizer mine beneath a national park, thanks to a last-minute takeover bid that values the developer at almost ?386 million (US$507 million).The diversified miner confirmed on Wednesday that it was in advanced talks with Sirius over a cash...Read More
In the three and a half years since Geoff Burns co-founded Maverix Metals (TSX: MMX; NYSE AM: MMX) with CEO Daniel O'Flaherty in July 2016, the royalty and streaming company's portfolio has grown to more than 100 assets - 14 of them paying.In 2018, Maverix posted net income of $3.5 million on record revenues of $34 million from 20,886 attributable gold equivalent oz. sold, and is on track to meet...Read More
Santa Rita - one of the largest open-pit nickel sulphide mines in the world - has sold its first nickel concentrate since being placed on care and maintenance in 2015.Mirabela Nickel operated the mine for six years before shutting it down due to low nickel prices and high costs.Today, the asset is owned by private equity firm Appian Capital's Atlantic Nickel, which has refurbished and restarted th...Read More
Gold futures jumped after reports of rocket attacks on a U.S. military base in Iraq, hitting fresh six year highs.Gold for delivery in February touched US$1,613.30 per oz., up US$39 per oz. from the settlement price at the end of regular trading on Jan. 7.History suggests that gains driven by geopolitical tensions alone may be short-lived, Macquarie Group strategists including Marcus Garvey said...Read More
Rubicon Minerals (TSX: RMX; US-OTC: RBYCF) has released updated resources for its Phoenix gold project in the Red Lake gold district of northwestern Ontario, with 811,000 oz. gold in the measured and indicated category and 464,000 inferred ounces.The update features 3.9 million measured and indicated tonnes at 6.45 grams gold per tonne with an additional 2.1 million inferred tonnes at 6.97 grams g...Read More
This episode features Shelby Yee, co-founder and CEO of RockMass Technologies, who discussed why startups and mining companies should work together. The presentation took place at the 2019 Progressive Mine Forum at the MaRS Discovery District in downtown Toronto. Shelby described the ways in which mining companies can find startup partners and how mutually beneficial relationships can be create...Read More
Newmont (TSX: NGT; NYSE: NEM) kicked off the second week of January with an announcement that it is dropping Goldcorp from its name and is also raising its quarterly dividend 79% to 25 ? per share, or US$1.00 per share a year, starting in April, in line with its commitment to return cash to shareholders.In addition, the company says it plans to continue its recently announced stock repurchase prog...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesIn its analysis published on Tuesday, Jefferies noted that even at the current copper spot price, these companies would ‘deliver strong free cash flow growth' in 2020.Read More
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