Image from IAMGOLD. IAMGOLD (NYSE: IAG, TSX: IMG) has announced an updated mineral resource estimate for its 100% owned Pitangui Project in Minas Gerais State, Brazil. The estimate, based on an underground mining scenario, comprises an indicated resource of 3.33 million tonnes grading 4.39 grams per tonne gold for 0.47 million contained ounces and an inferred resource of 3.56 million tonnes gra...Read More

The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday January 6, with price action holding above the nearby $13,000-per-tonne support level against a seven-day low in daily trading volumes, while zinc futures similarly held ground. Nickel's outright price on the LME settled at $13,060 per tonne this afternoon, with turnover low at just over 5,400 l...Read More

The three-month zinc price on the London Metal Exchange was lower during morning trading on Thursday February 6, witha fresh inflow of some 3,475 tonnes pressuring its price action, while copper was little moved despite a fresh cancellation of 10,250 tonnes.Zinc's outright price on the LME was recently trading at $2,192 per tonne, a drop of 1.2% from Wednesday's closing price of $2,213 per tonne.&...Read More

The London Metal Exchange has opted to keep its traditional open-outcry format for closing prices after receiving negative feedback from its electronic nickel trial, the exchange said in a note to members on Wednesday February 5.With the decision made not to permanently change its closing price process, the LME's trade-at-settlement function (TAS), which allows participants to buy or sell a contra...Read More

Geopolitical tensions and market uncertainty combined with the coronavirus outbreak led to a 5% increase in the gold price in January to seven-year highs of US$1,584/oz and continues to make all-time highs in many global currencies, while assets under management (AUM) grew 8% in US dollar terms during the month.Gold represented one of the best performing broader asset classes in January (plus 4.6%...Read More

Here are five Fastmarkets MB stories you might have missed on Thursday February 6 that are worth another look.Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.Chinese copper smelter Guangxi Nanguo has recently declared force majeure on shipments of copper concentrates, citing logistic...Read More

It said the diamond was recovered from the EM/PK(S) unit of the South Lobe, which had recently delivered a gem-quality 176ct stone and other high-value diamonds including the 1,758ct Sewelô.Read More

The seven million tonnes per annum plant is expected to start operation, next to one FLSmidth delivered for JSC Pavlik in 2013-14 in the Magadan region in Russia's east, late in 2021 or early 2022.FLSmidth said the new DKK290 million order covered materials handling and flotation equipment, gravity concentrators, screens, gold leaching, dewatering, pumps, cyclones, valves, instruments and reagent...Read More

Restricted access to ore already in ports presents the threat of alloy shutdowns, both of which could provide short-term price support for ore and alloy, but the accompanying ore stockbuild in ports is expected to offset gains longer term. Supply and stocks Ore supply from South Africa and Australia has not been much affected much by the coronavirus outbreak so far, although there are talks o...Read More

While Perenti Global (formerly Ausdrill), Macmahon Holdings and NRW Holdings - which has outlaid circa-A$200 million (US$135 million) on Golding Contractors and more recently BGC Contracting in theRead More

Most ferro-chrome smelters had covered their ore needs for this week and logistics disruptions are minimal between ports and many major smelters. But logistics disruptions are hitting mills as they seek alloy. Predictions of higher prices have not been realised so far. Supply and stocks Chrome ore inventories at the main ports of Tianjin, Qinzhou, Lianyungang and Shanghai: 3.12-3.42 million t...Read More

Logistics constraints caused by the transport system lockdown in China, imposed to contain the Wuhan coronavirus outbreak, were pushing European prices upward with inventory levels falling in Rotterdam.At the same time, the delays were adding to the pressure on traders which need to restock. Chinese material was not expected to arrive in European ports at least until March, Fastmarkets understands...Read More

"We are starting to reap the seeds we sowed 15 years ago when we [the team Jaramillo assembled under governor Anibal Gaviria during his previous term as governor] were here," he told Mining JournalRead More

By: Chris MarcheseChief Mining Analyst at GoldSeek & SilverSeekTicker: FSM (NYSE), FVI (TSX)Shares Outstanding: 160.2m (Basic), 164.5m (Fully Diluted)52 Week High-Low: $4.59-$2.39(2/05/2020) Fortuna Silver, one of the stalwarts amongst primary silver producers is now in the transition phase from deriving roughly and equal amount of revenue...Read More

By: Gary SavageBull market patterns repeat themselves. Giving up when frustrated, giving up right before the up moves..https://blog.smartmoneytrackerpremium.com/Read More

By: Ira EpsteinGold bouncing with a stock market, literally on fire! So where are we in these metals? Read More

Central banks believe that by injecting additional liquidity everything will be fine. Interest rate cut is the buzz word this year. The purchasing power of your national currency will rapidly fall on every massive liquidity injection. Use sharp dips to invest in gold for the long term. Corona virus is spreading with passing of each day. Numbers of deaths are rising each day in China. Numbers of...Read More

China imported 1,623 tonnes of cobalt metal in 2019, up 54.6% from 1,050 tonnes in 2018, according to official but unconfirmed data seen by Fastmarkets. Fourth-quarter shipments totaled 527 tonnes, up 24.3% from 424 tonnes in the third quarter and up eightfold from 58 tonnes in the fourth quarter of 2018. Chinese appetite for seaborne cobalt metal grew in 2019 due to a narrowing of the import arbi...Read More

Turkish steel mills have started to show more interest in deep-sea scrap cargoes following the latest drop in prices, sources said on Thursday February 6.A steel mill in the Iskenderun region booked a cargo from the United States, comprising 21,000 tonnes of HMS 1&2 (80:20) at $260 per tonne, 3,000 tonnes of shredded at $265 per tonne and 6,000 tonnes of bonus at $270 per tonne cfr. The previous U...Read More

South Korean steelmaker Hyundai Steel reported an almost 70% decline in operating profits in 2019 amid tightening margins between its raw materials buying prices and steel sales prices.In brief Operating profit of 331.3 billion Won ($277 million) in 2019, down by 67.7% year on year. Consolidated sales of 20.55 trillion Won, down by 1.3% year on year. Profits fell more sharply than sales due to raw...Read More