Vale New Caledonia (VNC) will cease operations at the onset of 2021, parent company Vale's chief financial officer Luciano Siani Pires said on Thursday October 8.The news comes exactly one month after the asset's proposed sale to Australian zinc miner New Century Resources fell through.Vale announced its failure to successfully negotiate the sale of a 95% stake in VNC to the Australian miner on Se...Read More
Keith WeinerPosted Oct 9, 2020There was a big drop in the price of silver last Wednesday. Then the price moved up, and down, but mostly up. Let’s look at a graph of the silver price and basis showing Sep 30 through Oct 5, with intraday resolution.(Click on image to enlarge)It’s remarkable how the basis tracks the price, until Oct 5. When basis tracks price, this means the action is pri...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
Peruvian copper production volumes fell back into decline in August due to lower output from Southern Peru Copper Corp and Antamina, but the country continued to produce more zinc and tin, according to data from the ministry of energy and mines, Minem, published on Wednesday October 7.Peru produced 193,852 tonnes of copper in August, a 10% year-on-year decrease from 215,426 tonnes. Output was also...Read More
Starting on Canada's west coast, Dolly Varden Silver (TSXV:DV) said step-out drilling from the current resource at the brownfields Torbit mine in British Columbia had intersected several high-gradeRead More
Vancouver, BC, Canada, October 7, 2020 - LEAF Mobile Inc. (TSX.V : LEAF) ("LEAF" or the "Company") announces that it has entered into a letter of intent (the "LOI") dated October 6, 2020 with East Side Games Inc. ("East Side Games").AcquisitionPursuant to the LOI, LEAF will acquire all of the securities of East Side Games (the "Acquisition") for $150 million (the "Purchase Price"), the payment...Read More
Members of the Mine Workers Union at Candelaria, a Chilean copper-gold-silver mine 80%-owned by Lundin Mining, have decided to go on strike after a 5-day mediation for labor negotiations ended without success, the company said late on Wednesday October 7.According to the mining company, the trade union represents about 350 workers. The previous labor agreement with them expired on September 30. No...Read More
Copper production at CAML's Kounrad mine in Kazakhstan was down 3.9% year-on-year but the 3,993 tonne total was ahead of analyst expectations.Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
Vale New Caledonia (VNC) will cease operations at the onset of 2021, parent company Vale's chief financial officer Luciano Siani Pires said on Thursday October 8.The news comes exactly one month after the asset's proposed sale to Australian zinc miner New Century Resources fell through.Vale announced its failure to successfully negotiate the sale of a 95% stake in VNC to the Australian miner on Se...Read More
Turkish steel mills broke their silence in the deep-sea scrap market on Thursday October 8, booking two cargoes after achieving lower prices, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $285 per tonne and 25,000 tonnes of shredded at $290 per tonne cfr.The same mill also booked a Baltic Sea cargo, consist of 24,000.....Read More
Prices for steel scrap imported into Bangladesh in containers have gone down again over the past week, while those for bulk cargoes were steadier, market participants told Fastmarkets on Thursday October 8.Weaker scrap market sentiment across the globe in recent weeks, combined with unfavorable Bangladeshi steel prices, has led to mills in the country presenting scrap sellers with cheap bids over...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Thursday October 8, while equity markets were mainly upbeat because US fiscal packages may still be forthcoming. US President Donald Trump changed his tune on Wednesday, from postponing stimulus talks with the Democrats to encouraging them to pass a string of single rescue packages to targeted areas.Likewise, with Democratic...Read More
Share this articleTORONTO - Canadian precious metals miner Yamana Gold Inc. says its shares will begin trading next week on the London Stock Exchange.The Toronto-based company is currently listed on the New York Stock Exchange and the Toronto Stock Exchange.Trading will begin Tuesday under the stock symbol AUY.The company says the listing will give British and European investors exposure to a pure...Read More
I want to live a very long and healthy life.Who doesn't? Right?This is why I exercise regularly, maintain a healthy diet, and meditate every morning.Although the latter is something I haven't been doing very long, I've definitely noticed an improvement in my overall mood and stress relief.Interestingly, as I've learned more about meditation and have joined a number of meditation groups, I've not...Read More
Domestic prices for hot-rolled coil in Europe were fairly stable day on day Thursday October 8 as buyers held back from making new deals, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?496.35 ($583.31) per tonne on October 8, down by ?,?1.15 per tonne from ?,?497.50 per tonne on Wednesday October 7.Still, the index wa...Read More
Reinforcing bar steel prices and demand in the United States were steady week on week, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $29.75 per hundredweight ($595 per short ton) on Wednesday October 7.US market"I don't see any downward pressure," a mill source said. "We expect steady to up on prices."Indeed, prices for shredded auto...Read More
Turkish domestic long steel prices have been giving mixed signals between the effects of falling scrap costs and the weakening of the country's lira, sources said on Thursday October 8.Domestic rebar prices have gone down due to weak demand and the negative sentiment in the scrap markets, despite the weakening lira pushing them upward.Fastmarkets' weekly price assessment for steel reinforcing bar...Read More
Steel billet and rebar prices were stable in Egypt in the week to Thursday, October 8 while demand failed to improve because buyers were expecting prices to fall, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25. Although, the Egyptian government decided to ease the rules of the ban on September 29.Buying was wea...Read More
Turkish steel mills broke their silence in the deep-sea scrap market on Thursday October 8, booking two cargoes after achieving lower prices, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $285 per tonne and 25,000 tonnes of shredded at $290 per tonne cfr.The same mill also booked a Baltic Sea cargo, consist of 24,000.....Read More