The European charge and high carbon ferro-chrome benchmark has jumped by 13 cents, or 12.9%, to $1.14 per lb for the second quarter of 2020. The settlement is announced every quarter by Merafe Resources, which operates a chrome joint venture with trader-miner Glencore in South Africa. The benchmark is settled via negotiations between a leading South African ferro-chrome producer and a major Europe...Read More
The Covid-19 pandemic could nudge Chinese steelmakers toward using more electric-arc furnaces (EAF) to produce steel, market sources say.This is especially due to the huge market uncertainty caused by the ongoing global economic crisis. EAF-based production could offer mills - most of which are still heavily reliant on blast furnaces (BFs) - the flexibility they need in such circumstances to reduc...Read More
Vietnam's Formosa Ha Tinh Steel Corp will not announce its monthly offer prices for its steel supply for the first time in history."The company will engage in private price negotiations with individual customers based on their demand and inventory levels," a source told Fastmarkets on Wednesday April 22.Formosa Ha Tinh Steel Corp is one of two major blast furnace-based producers in Vietnam, togeth...Read More
Kirkland Lake Gold (TSX: KL; NYSE: KL) has released the results of 19 drill holes, as well as assays for 15 historical unreported and reinterpreted holes from the Macassa mine in Kirkland Lake, Ontario.These results expand the South Mine Complex (SMC) by at least 75 metres to the east of the current resource limits, and suggest a new corridor of high-grade mineralization at depth along the prospec...Read More
Mark Selby led a team that raised over $100 million and advanced the Dumont nickel-cobalt project in Quebec from an initial resource to a fully permitted, construction-ready project for RNC Minerals (TSX: RNX).Now the mining executive believes he's onto the next big nickel project in Canada with Crawford - a large tonnage nickel-cobalt sulphide discovery, 20 km north of Glencore's enormous Kidd Cr...Read More
Greenhouse emissions are expected to fall by 6% this year due to a global slowdown caused by the COVID-19 pandemic, the World Meteorological Organization (WMO) said, but that would not be enough to stop climate change.The forecast drop comes as transportation and industrial energy production has come almost to a halt globally, and it would be the biggest annual decline since World War II.In the pa...Read More
Bank of America has hiked its 18-month target for gold from US$2,000 to US$3,000 per ounce."As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure and investors will aim for gold," the bank says in a research note today."True, a strong US dollar backdrop, reduced financial market volatility, and lower jewelry de...Read More
Gold Resource (NYSE-AM: GORO) has released preliminary first-quarter production results for its mining operations in the U.S. and Mexico.In Nevada, its Isabella Pearl open-pit heap leach mine, the company's flagship property, produced 3,692 ounces in the first quarter. Isabella Pearl is located 174 km southeast of Reno in south-central Nevada's Walker Lane mineral belt. Production commenced in Apr...Read More
Gold a hit a new seven-year high Monday, with bullion stocks moving sharply higher as U.S. futures briefly topped US$1,770 per ounce.Read full newsRead More
Harmony Gold Mining Company Ltd :Read full newsRead More
Resolute Mining Ltd:Read full newsRead More
Verified thermal energy credits could do for methane capture what renewable energy credits did for wind and solar power.Read full newsRead More
Best Results Include 1.0m Core Length Grading 453g/t Silver and 8.31g/t Gold from Hole LV20-224 and 0.5m Core Length Grading 40g/t Silver and 43.7g/t Gold from LV20-229Read full newsRead More
Nexus Gold (TSXV:NXS) is pleased to report that the Ontario Ministry of Energy, Northern Development and Mines, has issued an exploration drill permit for the Company's 100%-owned McKenzie Gold ProjectRead full newsRead More
Best Results Include 1.0m Core Length Grading 453g/t Silver and 8.31g/t Gold from Hole LV20-224 and 0.5m Core Length Grading 40g/t Silver and 43.7g/t Gold from LV20-229Read full newsRead More
Gold a hit a new seven-year high Monday, with bullion stocks moving sharply higher as U.S. futures briefly topped US$1,770 per ounce.Read full newsRead More
Top TSX stocks have surged more than 25% since their multi-year lows last month. Investors turned optimistic on the US’s plans to re-open its economy, which has mainly driven stocks higher. However, whether these stocks hold on to the gains through the earnings season remains to be seen.Despite some strength in broader markets, aviation, hospitality, and energy stocks might continue to trade...Read More
Publisher's Note: Today we're bringing you an excerpt from The Dines Letter from April 6, 2020.Mr. James Dines has been an unparalleled source of research and analysis for decades and it's never been a better time to hear from "The Original Gold Bug."Call it like you see it,Nick HodgeThese are historic times, like a new war, with unknowable consequences, and many books will be written about it. T...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 23 that are worth another look.Anglo American has lowered the 2020 production guidance for its Kumba iron ore operations to 37-39 million tonnes, down from a previous guidance of 41.5-42.5 million tonnes, due to the lockdown in South Africa, the miner said on April 23.South Africa is to end its nationwide lockdown and ease r...Read More
The three-month copper price on the LME climbed by just over 1% on Thursday April 23 to settle at its highest level since April 14, while nickel futures gained ground in the afternoon despite low turnover. Copper's outright price on the London Metal Exchange closed at $5,160.50 per tonne on Thursday afternoon, gaining some $30 per tonne from Wednesday's closing price, while turnover in the re...Read More