Exports of hot-briquetted iron from Venezuela have remained low in recent weeks because of a continuing shortage of iron ore pellets and pressure from sanctions imposed by the United States, sources told Fastmarkets on Wednesday October 23.Around 125,000 tonnes of HBI was available from stocks in Venezuela in early October, according to an official source."Venezuela is producing HBI but we will se...Read More
Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne.58% Fe fines high-premium, cfr Qin...Read More
China continues to drive trading activity in the seaborne coking coal market, with hardly any interest emerging elsewhere.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.40 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $164.07 per tonne, down $0.63 per tonneHard coking coal, fob DBCT: $129.92 per tonne, unchangedHard coking coal, cfr Jingtang: $142.29 per tonne, unchanged...Read More
A combination of weak macroeconomics and an anticipated increase of global aluminium supply is prompting expectations that more participants will purchase metal with the intention of holding and financing it for long-term gain. The expected slowdown of the global economy, participants say, will lead to a decline in demand and metal consumption meaning more stock will be put on warrant on the Londo...Read More
Chinese mills raised their domestic offers on Wednesday October 23, though buyers in the eastern region put up some resistance against them, resulting in a smaller price rise in comparison with those in the northern region.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($494-497) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,500 yuan per tonne, up 20 yuan per tonn...Read More
The London Metal Exchange three-month nickel price was trading down 1% at around $16,330 per tonne during the morning session on Thursday October 23, with persistent drawdowns failing to give support to nickel futures. 4,134 tonnes of material were taken out of LME-approved global sheds as of 9am this morning versus just 696 tonnes of metal delivered in, leaving LME global nickel inventory at 83,6...Read More
There have been a significant number of large backwardations on London Metal Exchange futures contracts throughout 2019 and questions have been raised about whether the exchange's spreads truly reflect the fundamentals of the market.LME chief executive officer Matthew Chamberlain has said the exchange is monitoring the situation and has not heard any outcry from the market looking for things to ch...Read More
Barring those for nickel and tin, base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Wednesday October 23. Following the weakness seen at the start of the week, nickel has rebounded strongly this morning. The most-traded December nickel contract on the SHFE climbed to 129,120 yuan ($18,240) per tonne as at 10.15am Shanghai time, up by 3,430 - or 2.7...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
Fastmarkets is proposing to discontinue its fortnightly price assessments for mercury. Global mercury trade has reduced since the 2017 the Minamata Convention on mercury, a legally binding international agreement aimed at tackling mercury pollution, came into force. The Convention has reached more than 100 party ratifications, and, as a result, mercury use is declining around the globe. Mercury tr...Read More
The Ramu nickel-cobalt project in northeast Papua New Guinea is to close imminently pending an environmental investigation, the region's minister for mining Johnson Tuke confirmed on Wednesday October 23.The Ramu nickel-cobalt project in northeastern Papua-New Guinea will close imminently pending an environmental investigation, the region's minister for mining, Johnson Tuke, confirmed on Wednesday...Read More
A summary of Antofagasta's production results for the third quarter of 2019 following the company's results report released on Wednesday October 23.IN BRIEF: Antofagasta's group copper production for the third quarter of 2019 was recorded at 197,000 tonnes, a drop of 0.8% against the previous quarter. Group copper production for the first nine months of 2019 climbed to 584,200 tonnes, a rise...Read More
An overview of the noble alloys markets and their latest price moves.Read More
These are exciting days for Victoria Gold (TSXV: VIT) as the company transitions its flagship Eagle open-pit gold project in the Yukon from development into production.At the end of September, the company had mined 1.7 million tonnes of ore and stacked 1.1 million tonnes of crushed mineralized material on the heap leach pad, pouring its first gold on Sept. 17."After ten years of blood, sweat and...Read More
SolGold has discovered a new copper-gold-silver-molybdenum porphyry system at its wholly owned Cisne Loja project in southern Ecuador. The company says it found mineralized outcrops that indicate the presence of a new polymetallic porphyry system with outcropping porphyry-style copper, gold, silver and molybdenum-rich mineralized veining over an area of 2 km by 1 kilometre.SolGold says the minera...Read More
Orla Mining (TSX: OLA) has reached an agreement with Trinity Capital Partners for a project finance facility of up to US$125 million to build its first mine - the Camino Rojo oxide heap leach gold project in Mexico.The facility will include a syndicate of lenders led by mining financier Pierre Lassonde, Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Trinity Capital.The project in Zacatecas, 50 km so...Read More
The next generation of mining leaders will arrive with a "tsunami" of environmental, social and governance (ESG) concerns, says Claudia Mueller, associate director of the Global Mining Management program at the Schulich School of Business. Mueller joined a panel of experts in October to discuss ESG issues at The Northern Miner's third annual Progressive Mine Forum in Toronto. In recent years, she...Read More
Oriole's deepening footprint in West Africa is paying offSPONSOREDoriole resourcesPoster South Africa mine regeneration on trackSPONSOREDorion mineralsSilver Mines times Bowdens to perfectionSPONSOREDsilver mines limitedAfrica's rising resource nationalism ups stakes for minersSPONSOREDverisk maplecroftThe Canadian bank said markets continued to price in a more dovish tone from central ban...Read More
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