The company, which has lifted 2019 production guidance to 7.5-7.9 million tons from the previous 7.1-7.5Mt on the back of record June quarter sales and production volumes 2.24Mt and 2.195Mt, respectively, generated net income of US$125.5 million on $397.6 million revenues for the quarter, up 37% and 22.9% year-on-year, respectively. It said it sold 97% of its coal at the Australian premium low-vol...Read More
California-based Tetra Tech's $52 million acquisition of WYG and its circa-$200 million of annual revenue was a key strategic move for the company, CEO and chairman Dan Batrack said."While financially we had an all-time record quarter, I am even more pleased that we took a significant step forward in our strategic plan to offer services in the United Kingdom with the addition of WYG," he said.Tetr...Read More
RPMGlobal's new president Americas, Patel has spent 15 of his 25 years in mining in operations and was corporate manager, mineral processing and metallurgy at Kinross Gold Corp before joining RPA.Philippe Baudry, RPMGlobal executive general manager - advisory services, said the company was seeing strong customer demand, "particularly in the minerals and metals space"."Akoo's appointment reflects a...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average finished down nearly 300 points Thursday after President Trump said the U.S. would impose an additional 10% tariff on $300 billion in Chinese goods. Verizon Communications (VZ - Get Report) slipped after the telecom giant posted better-than-expected second-quarter earnings and increased its full-ye...Read More
- Ronan Manly, Bullion StarThe US Federal Reserve's Federal Open Market Committee (FOMC) today announced a 0.25% cut in the influential US federal funds rate from a target range of 2.25% - 2.50% to a target range of 2.00% - 2.25%, a move which was closely watched and widely signaled, but which was the first such fed funds rate cut in over 10 years.As an official interest rate which affects...Read More
By: Ira EpsteinThis was an insurance rate cut. US is just starting to embark on easing rates. World economies race to bottom. One after another coming. What about gold? A strong dollar is not gold's friend, but don't fret..Read More
Gold and silver fell after the Federal Reserve stance on interest rate cut. There can be more fall today and tomorrow as well. Friday's US July nonfarm payrolls needs to come in below 100,000 for gold and silver bulls to revive. For now gold and silver bears have an upper edge. Traders and markets were way ahead on interest rate cut stance. The Federal Reserve chairman muted all those who were...Read More
Key data from the Wednesday July 31 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables recover slightly in the second half of July alongside a slight recovery in cobalt sulfate prices in the last week of the month. Greater optimism in China comes from falling standard grade cobalt prices, which eases production margins. Inquiries and business both...Read More
China's imports of manganese ore from Ghana in the first half of 2019 overtook imports of Australian ore, Chinese customs figures show. China imported 2.58 million tonnes of ore from Ghana in the January-June this year compared with 2.39 million tonnes of Australian ore. In the same period of 2018, China imported 1.26 million tonnes of manganese ore from Ghana and 2.27...Read More
Steel mills in Turkey continued to stay out of the deep-sea scrap markets because of limited trading activity in the finished long steel and billet markets, sources said on Thursday August 1.Despite offers for Baltic Sea- and US-origin HMS 1&2 (80:20) at around $290-295 per tonne cfr levels, mills have been unwilling to pay those prices before selling some of their own products. "There are Baltic...Read More
Fastmarkets is extending until August 31 the consultation period for its proposal to launch a daily containerized steel scrap cfr Vietnam assessment.Fastmarkets made this decision because responses to the original consultation so far could not definitively define the liquidity of a daily spot market and its suitability for a daily price assessment.The proposed specification is as follows:Assessmen...Read More
Multi-year lows in smelting income have sharply reduced China's production of intermediate copper products, which are primary smelting products and feed to produce copper cathodes, forcing dozens of domestic refineries to search for these materials overseas. "I have got inquiries for blister copper from eight refineries in just a week. I haven't seen anything like that before. It's such a shame th...Read More
Canadian mineral exploration and development company Turquoise Hill Resources (THR) has announced its 2019 second-quarter financial results, reporting a $600 million impairment at its Oyu Tolgoi copper-gold-silver project in Southern Mongolia amid company losses amounting to $736.7 million. Oyu Tolgoi, the company's principal mining project located in the Gobi Desert, is 66% owned by THR and 34% b...Read More
Equities sold off after the US Federal Open Market Committee (FOMC) suggested that its rate cut was simply a mid-cycle adjustment rather than the start of monetary easing.Metals followed them lower but better Chinese manufacturing purchasing managers' index (PMI) data may provide support.The US Dow Jones Industrial Average closed down by 1.23%China's Caixin PMI climbed to 49.9 in July from 49.4 in...Read More
Toronto - Today, Greg Rickford, Minister of Energy, Northern Development and Mines, issued the following statement in response to Enbridge's application of the federal carbon tax on natural gas rates:"As we have said from day one, the Ontario government is committed to lowering energy costs and providing transparency for low-income families, seniors and small businesses. That is why we have always...Read More
Key data from the Wednesday July 31 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables recover slightly in the second half of July alongside a slight recovery in cobalt sulfate prices in the last week of the month. Greater optimism in China comes from falling standard grade cobalt prices, which eases production margins. Inquiries and business both...Read More
It's been a brutal summer for pot stocks.After a four-year bull run, pot stocks have finally started selling off.But I can't say I'm surprised.After all, at the start of the year, most pot stocks were significantly overvalued.This correction was absolutely necessary.And while some folks have taken it on the chin this summer, the reality is that with this recent sell-off has come a new opportunity...Read More
Rob McEwen is a recognized Leader in the mining industry. He has greatly supported investment in mining. He founded Goldcorp Inc., which has merged with Newmont to become the world's greatest gold mining company. Rob is also a philanthropist, who is funding pioneering stem cell research. Rob is also supporting education. McEwen Mining Inc. (NYSE: MUX, TSX: MUX) is a diversified gold and silver pro...Read More
A summary of ArcelorMittal's financial results for the second quarter of 2019.In briefSecond-quarter earnings dropped due to combination of declining steel prices and higher raw material costs, the world's largest steelmaker said on Thursday August 1.Fastmarkets' price assessment of steel HRC, domestic, exw Northern Europe averaged ?,?492.69 ($548.34) per tonne in the second quarter of 2019...Read More
The energy sector will play a major role in bolstering steel plate prices in the remaining months of 2019, a source close to a leading Japanese steelmaker told Fastmarkets this week. "There has been a surge in demand from end users in the energy sector, including major oil and gas companies," the source said. The demand for steel plates is coming from oil and gas projects in the Sea of Mexico, Aus...Read More