The three-month copper price on the London Metal Exchange recovered at the close of trading on Thursday July 16, closing above nearby resistance at $6,400 per tonne, while a positive close for LME zinc saw it make the most gains across the base-metals complex over the afternoon.Copper's underlying price on the LME closed at $6,436.50 per tonne on Thursday, climbing from an intraday low of $6,305.5...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Upside breakout last weekThe price of aluminium on the London Metal Exchange surprised us with a break to the upside in the week ended July 10, when prices on the Shanghai Futures Exchange raced to three-and-a-half-year highs. While we think there is more short-term upside potential if technical and liquidity fact...Read More
A summary of Anglo American's production results for the second quarter of 2020, according to a company results report released on Thursday July 16. In brief Anglo American attributed the 5% annual increase in copper concentrate to continued strong performance at Collahuasi mine in Chile, offset slightly by reduced output at Los Bronces due to drought conditions in central Chile. Attri...Read More
AIM-specialist Numis had built up a presence in the small-midcap mining sector, acting as UK broker to companies including Shanta Gold, Pan African Resources, Yellow Cake and Base Resources.Staff have been placed on a consultation period until the end of next week.An analyst from fellow broker SP Angel said the withdrawal "may reflect a lack of critical mass and expertise in the sector, high busin...Read More
Key data from the Wednesday July 15 pricing session in Shanghai.Key driversTungsten concentrate price remained firmly above 80,000 yuan ($11,438) per tonne amid tight spot supply. Cargo holders continued to refrain from selling the material.Export price for ammonium paratungstate (APT)...Read More
COVID-19 shutdowns across southern Africa hit several of Anglo's business units, while the company also faced PGM processing issues, a gas explosion at its Grosvenor mine in Australia and challengingRead More
Vancouver, BC - Venzee Technologies Inc. (TSX-V: VENZ) (the "Corporation" or "Venzee") in response to growing client demand for retail channel connections - provided through the Company's platform solution - Venzee is now providing stakeholders with visibility to retail channel connection growth and operational pipeline velocity.Today the Company is announcing key metrics indicating Retail Channel...Read More
Vancouver, BC - IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) is pleased to announce that it has entered into an agreement with NxGold Ltd. (TSXV: NXN) ("NxGold") to grant NxGold the option to acquire a 100% interest in IsoEnergy's Mountain Lake uranium property in Nunavut, Canada ("Option Agreement").Highlights:NxGold obtains a two-year option to acquire a 100% interest in the Mountain Lake ura...Read More
Mantashe, who turned 65 in June, is reportedly the country's first minister to test positive for the coronavirus.The office of the presidency said Mantashe and his wife Nolwandle, who had also tested positive, were in isolation and the minister would continue to work from home.It was the minister's third round of tests since the outbreak of the virus, the office said.Days earlier, when commenting...Read More
Dave KranzlerThe market will always from time-to-time remind us that nothing goes straight up in the stock market. The mining stocks, especially the riskiest juniors, have had huge run since mid-March. The HGNSI (Hulbert Gold Newsletter Sentiment Index) has been a remarkably reliable contrarian signal for mining stocks over the years. Sell/take profits when it moves above 60 and buy with both ha...Read More
Key data from the July 15 pricing session in London and Shanghai. Key drivers:Cobalt hydroxide payables moved up in the first half of this week with buyers still holding out from making offers in light of tight spot availability and softening standard-grade benchmark metal prices, against...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 16 that are worth another look.The United States Federal Circuit on Wednesday July 15 decided to reverse the US Department of Commerce's decision to collapse three Taiwanese steelmakers to calculate a combined anti-dumping margin for certain corrosion-resistant steel products (CORE), according to public documents.Ru...Read More
Turkish steel mills continued their deep-sea scrap purchases at higher prices, sources told Fastmarkets on Thursday July 16.A steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $258.50 per tonne, shredded at $263.50 per tonne and plate and structural scrap (P&S) at $269.50 per tonne cfr. The cargo composition was not clear at the time of publication, but the traditio...Read More
* Miner says overall Q2 output falls 18% * Says ramping up output to hit FY targets set in April * Says targets dependent on how coronavirus pans out (Adds Chile drought, coal, analyst)By Zandi ShabalalaLONDON, July 16 (Reuters) - Global miner Anglo American is ramping up metals and diamond production to hitfull-year targets it set in spring, it said on Thursday, as itreported a sharp slump in sec...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prolonged flooding in China could limit the use of construction steel and drag down demand for steel rebar in the short term, which in turn could damp the demand for iron ore. So far, it has been reported that steel mills in the affected regions have continued to operate as normal. The floods have, however, caused a few days...Read More
Russian multi-metal miner Nornickel's newly-established environmental working group has begun work to tackle the significant fallout from a series of recent ecological disasters, the company said on Thursday July 16.The working group, which comprises independent members of Nornickel's board of directors, said that it intends to solve the serious environmental issues facing the company after suffer...Read More
SAULT STE. MARIE - The Ontario government is investing $50,000 in the Lake Superior Watershed Conservancy's Canoes for Conservation project to help promote ecotourism and create several seasonal jobs. Funding through the Northern Ontario Heritage Fund Corporation (NOHFC) will be used to develop guided tours in a 14-person, 11-metre canoe, connecting visitors to cultural and historical sites along...Read More
Lithium hydroxide monohydrate, min 56.5% LiOH.H2O, battery grade, spot price, cif China, Japan & Korea, trade log including business, bids, offers and assessments reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Read More
Share this articleTORONTO - Kirkland Lake Gold Ltd. says it will cut up to 255 staff positions due to a pandemic-related suspension of operations at its Holt Complex in northern Ontario.The Toronto-based company says it has reassigned about 220 of the complex's 475 workers elsewhere within its Canadian organization since the suspension began in April.However, Kirkland Lake Gold says it now believe...Read More