The three-month nickel price on the London Metal Exchange closed at its highest since December 2014 on Thursday August 15, climbing to $16,250 per tonne amid renewed buying momentum, while a steady incline in tin futures led to its highest close since August 1. Nickel began the day's trading below the nearby $16,000 per tonne resistance level, falling to an intraday low of $15,765 per tonne, befor...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average managed a modest rebound Thursday, sparked by a strong retail sales report and an earnings beat from Walmart (WMT - Get Report) . Walmart (WMT - Get Report) shares rose after the retailer reported stronger-than-expected second-quarter earnings and increased its full-year profit guidance. Walmart is Real Money...Read More
Chilean state-owned copper producer Codelco began operations at Chuquicamata's subterranean phase on Wednesday August 14, with an aim to increase mine life by 40 years and to improve the division's productivity, the company said.The new venture for the centennial open pit mine has 1.03 million tonnes of copper mineral reserves, at 0.82% content, the miner added. These volumes will result in 320,00...Read More
The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets. Analysts expect China's State Grid Corp of China, whose budget comprises 50% of the country's annual copper demand, to come good on promises to increase investment on the nation's electronic grid by 5% this year. That amounts to 14 billion yuan ($2 billion) of extra spending, according to estim...Read More
The company reported Q2 EBITDA of US$12.6 million, compared with $28.9 million in the June quarter last year, while operating cash flows before movements in working capital of $12.8 million in Q2 2019 dipped from $29.5 million in Q2 2018.Sierra said revenues fell $12 million year-on-year to $50.7 million in Q2 2019 "due to lower throughput and higher treatment and refining charges incurred at Yaur...Read More
As well as the CEO of the Year and Emerging Leader of the Year nominations, Mining Journal editors are assessing nominations from our worldwide readership for top innovators, sustainability and gender diversity leaders, best new discovery, the industry's best explorer for the 2018-2019 year, and the best-performed mining consultancies, and METS (mining equipment, technology and services) companies...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday August 15 that are worth another look.The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets. Analysts expect China's State Grid Corp of China, whose budget comprises 50% of the country's annual copper demand, to come good on promises to increase investment on the nation's electr...Read More
Rosengren has run Sandvik since November 2015, overseeing implementation of a decentralised structure to help make it more efficient and flexible. He will become ABB CEO in February next year, replacing Peter Voser.Prior to his Sandvik time Rosengren ran Wartsila Corporation, which makes power systems for the marine and power generation markets.Voser, also ABB chairman, said Rosengren would bring...Read More
The IPC determination allowed AusPac to proceed with an underground mine at Dartbrook using bord-and-pillar methods for three years."The determination … has taken many months and while the main elements of mining and transport were approved, it is disappointing the IPC did not approve the additional five years of mine life," Robinson said."The application was subject to significant support...Read More
Gold futures logged their highest finish since 2013 on Wednesday after another round of downbeat economic data, and as the temporary inversion of the main measure of the U.S. Treasury yield curve raised the risk of a recession. "Many theories describe the causal mechanism between yield inversion and recession, but the key point is a lack of confidence in the current interest rate environment-speci...Read More
Chilean state-owned copper producer Codelco began operations at Chuquicamata's subterranean phase on Wednesday August 14, with an aim to increase mine life by 40 years and to improve the division's productivity, the company said.The new venture for the centennial open pit mine has 1.03 million tonnes of copper mineral reserves, at 0.82% content, the miner added. These volumes will result in 320,00...Read More
GoldSeekAugust 15th marks the 48th year anniversary since the end of gold backing the U.S. Dollar for international trade. Here is President Nixon announcing this dramatic monetary and other economic policies on August 15, 1971:Read More
China's alumina market is showing signs of a recovery following the emergence of higher offer prices by domestic producers this week due to a number of production cuts in the country, market sources told Fastmarkets on Wednesday August 14.Several alumina operations in eastern and northern China, including China Hongqiao Group's facility in Shandong province that is said to be suffering from severe...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
Turkish steel producers have remained quiet in the deep-sea scrap markets so far this week because of the religious holiday in the country, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations.As a result...Read More
The Thursday Market Minute Global stock extend declines, Wall Street futures weaken, as China vows to retaliate on trade following last month's move on tariffs from the White House.U.S. futures give back gains, while Europe hits session-lows, following a statement from China's Finance Ministry.U.S. Treasury bond yield curve holds positive slope following last night's inversion, but 10-year note...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
The world is going to hell!At least that's what it seems like if you spend more than five minutes reading the daily news feeds on your smartphone.Nuclear explosions in Russia...The Arctic literally on fire...Everything you do and say being monitored by tech giants and overzealous government thugs...Trade wars siphoning wealth from the most vulnerable...Crazy people with launch codes to nuclear mis...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More