A worker in the core shack at the Troilus gold project Credit: Troilus Troilus Gold has announced an upsized bought deal of C$22 million (up from C$15 million originally) as equity raises in the mining space continue.The company entered into an agreement where Cormark Securities, Laurentian Bank Securities and Stifel GMP are co-lead underwriters for a syndicate purchasing 21 million units of the...Read More
ERIKS stocks a variety of heavyweight conveyor belt products (Credit: Eriks) Eriks North America and Fenner Dunlop have announced a partnership to provide conveyor belting products and services to industrial customers in northern California and Nevada.Scott Holquist, VP of conveying systems products with Eriks North America, said that the two companies offer a unique combination of expertise,...Read More
That's not cobalt blue. Image from Great Wall Motors. High energy density, longer-range NCM (nickel-cobalt-manganese) cathodes, together with Tesla's NCA (nickel-cobalt-aluminum) technology account for over 90% of batteries in passenger EVs. Automakers continue to thrift the use of cobalt - by far the priciest raw material - in cathodes. While NCM111 (equal parts nickel, cobalt, magnesium) are f...Read More
La Colorada silver mine in Mexico. Image from Pan American Silver. Pan American Silver (TSX: PAAS) has announced that operations have resumed at its Dolores and La Colorada mines in Mexico, following the restart of its Shahuindo, La Arena, San Vicente and Manantial Espejo operations, initiated in May.The mines are initially operating at reduced capacities to accommodate new protocols in r...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More
Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More
Weekly Reports |Jun 02 2020Activity in uranium markets slipped back to more normal levels in May as utilities remain reluctant to commit.-US uranium purchases up 20% in 2019-Purchases from non-allies exceeded those from allies-Utilities still expected to come to the market this yearBy Greg PeelA recent US Department of Energy report into the US uranium market, which at 28% of demand is the world's...Read More
Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned utility Zesco Ltd after a long-term supply contract between the copper producer and the Copperbelt Energy Corporation (CEC) expired.Zesco is now transmitting power via CEC infrastructure to KCM operations while the two parties finalize their agreement.A 20-year contract between CEC and KCM, which op...Read More
Bob Moriarty ArchivesJun 2, 2020It’s not uncommon for the metals to want to take a break in late spring. Silver has been on a tear lately and is getting a bit frothy. TheDSI is at 93 and while that is not saying we are at a major top, it does suggest that a correction into perhaps August would not be amiss.In addition the silver seasonals favor a correction from May into August. Silver and s...Read More
Matt LampertElliottWave InternationalPosted Jun 2, 2020Just about everyone thinks the coronavirus pandemic slammed global stock prices in February and March. Entire countries shut down; businesses closed up shop; unemployment soared. People stopped spending money beyond the essentials, so conventional wisdom would indeed expect stocks to slide as a result. Yet consider the below chart of the Shang...Read More
Spot treatment charges (TCs) for zinc and lead concentrate continued their downward trajectories in May even as some South American miners announced restart of operations after two months of Covid-19 related shutdowns. Miners are in need of cash and keen to resume production but they face the challenge of a rising number of coronavirus cases in the continent, which the World Health Organizati...Read More
The gold producer completed a A$1 billion placement to institutional investors in late April, and launched a $100 million SPP.Read More
The update has the potential to extend Santa Rita's life to more than 26 years and includes an indicated resource of 54.6 million tonnes grading 0.61% nickel sulphide, 0.2% copper and 0.Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More
Ricky Wen, ElliottWaveTrader Monday's session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In addition, as you may be aware by now, the average range per day has been narrowing for the past few weeks due to this methodical grind...Read More
Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More
Gold and silver will remain firm on developments in USA. Copper is on the verge of a big technical breakout. Crude oil is bullish. OPEC has decided to continue with production cuts. If India had faced a similar mass arson then global leaders would have condemned India with "secularism is at risk" slogan. The arsonists would have been divided between religion, caste and creed. USA's NATO allies a...Read More
Ferrous scrap prices in Mexico were stable or down in the steelmaking regions of Bajio and Monterrey during the week to Tuesday June 2 due to currency moves and the weak performance of the steel sector.At least two steel plants in the Baj?-o region announced a cut of 100 pesos ($4.50) per tonne in scrap values, which was reflected in lower prices for most grades assessed by Fastmarkets.Fastmarkets...Read More
The country's mining sector has recorded 411 confirmed cases and one death due to the global pandemic, according to the Minerals Council South Africa, from more than 218,000 employees screened and 6,528 tested.Sibanye-Stillwater (JSE: SSW) confirmed last week 51 employees had tested positive for COVID-19 at its Thembelani mine at its Rustenburg platinum group metals operation, taking its total to...Read More
Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices on Tuesday June 2, sources told Fastmarkets.A steel producer in the Iskenderun region booked a US cargo, comprising 21,000 tonnes of HMS 1&2 (90:10) at $259 per tonne, 4,000 tonnes of shredded at $261 per tonne and 5,000 tonnes of plate & structural scrap (P&S) at $266 per tonne cfr on June 2. T...Read More