British Columbia is known for its coal and copper-gold deposits, with a storied history of mining all three commodities. Now the second largest mining company in the world is hoping to add a BC copper porphyry deposit to its portfolio of development properties.Rio Tinto's (ASX, LON:RIO) Chris Welton said the London and New York-listed mega-miner is scoping out British Columbia for a copper play."W...Read More
By 2030, the amount of installed wind power globally will more than double, according to the International Energy Agency (IEA). Installed solar power will quadruple.And the number of electric vehicles will increase 1,389% - to 125 million from three million - by 2030, and 3,333% in 2040 to 300 million, according to the IEA.Given that each electric vehicle requires 83 kilograms of copper and each...Read More
Montreal's Yorbeau Resources has resumed diamond drilling at its Scott copper-zinc property between the towns of Chibougamau and Chapais. The goal is to identify an extension of the deposit west of the Gwillim fault.A preliminary economic assessment was made in 2017 for the Scott project that planned on mining 12 million tonnes at grades of 4.14% zinc, 0.81% copper, 27 g/t silver and 0.24 g/t go...Read More
Miner AngloGold Ashanti said on Tuesday it has halted a soil study at a site in Colombia after the town's mayor issued a suspension order because of a recent mining ban.Work at the site in Jerico, Antioquia province, was stopped on Monday and the project will remain halted pending a review by the province's tribunal, AngloGold said.The company was not carrying out mining exploration at the site, b...Read More
Vedanta Ltd.'s Zambian unit will press ahead with expansion plans even as the government of Africa's second-biggest copper producer increased mining royalties, and has undertaken not to fire any workers."Our actions are designed to sustain and create jobs, grow the economy, and contribute more to the treasury."The assurance by Konkola Copper Mines Plc, following a meeting between management and go...Read More
The number of miners missing after an earth tremor struck KGHM Polska Miedz's mine near the Polish town of Rudna, 70 miles east of the German border, fell to one from nine, the copper producer said on Twitter on Tuesday.Earlier KGHM spokesperson Anna Osadczuk told Reuters the miners were missing after the tremor hit the mine early this afternoon 770 metres below the earth's surface.Eleven teams to...Read More
Mongolia is working with overseas investigators to look into claims of corruption at its giant Oyu Tolgoi copper mine, the country's anti-graft body said on Tuesday, after the re-arrest of a former minister suspected of "abuse of power".Bayartsogt Sangajav was first arrested last April and released in June in a probe into 2009 negotiations over the development of the mine, then owned by Canada's I...Read More
Mining companies need to determine how to operate in a market that is also characterized by rising stakeholder demands, a widening talent gap, dwindling access to key inputs such as energy and water, and a Chinese economy growing at under 7%, rather than 12%, just to mention some challenges. (Image courtesy of Codelco | Flickr.)2019 could go down in history as the year mining companies stopped anc...Read More
Mining companies need to determine how to operate in a market that is also characterized by rising stakeholder demands, a widening talent gap, dwindling access to key inputs such as energy and water, and a Chinese economy growing at under 7%, rather than 12%, just to mention some challenges. (Image courtesy of Codelco | Flickr.)2019 could go down in history as the year mining companies stopped anc...Read More
Some flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, but demand has remained soft, sources said on Tuesday January 29.Demand was subdued because stock levels in the UAE were already high and buyers wanted to see which direction prices would move after the Lunar New Year holiday in China, sources told Fastmarkets.UAEIndia-origin HRC was on of...Read More
Ferro-tungsten prices will continue to trade in wider ranges this year amid a bearish outlook, market participants told Fastmarkets. Material produced from scrap being shipped to the European market was the main reason for weak ferro-tungsten prices last year and the greater competition has caused traders to retreat from the spot market. Ferro-tungsten producers of standard material, which usually...Read More
Comex copper prices bounced back in US morning trading on Tuesday January 29 amid a softening dollar and anticipation for the start of US and Chinese trade talks. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 3.35 cents to $2.7135 per lb. "The main focus on the markets will be on the US/Chinese trade talks which get under way tomorrow,"...Read More
RAPAPORT... The Gemological Institute of America (GIA) has appointedMatthew Tratner global director of business development. Tratner will be responsible for expandingand deepening the GIA's relationships with retailers and other stakeholders. "Matt's industry experience will play an invaluable role aswe work to meet the needs of the gem and jewelry industry, and further ourmission of en...Read More
Base metals prices on the London Metal Exchange were collectively higher during morning trading on Tuesday January 29, with a slight downturn in the dollar index fueling buying momentum while volumes traded over the morning remain moderate. A downturn in the dollar index below the psychological level of 96 has helped further facilitate buying momentum, with copper, nickel and tin prices similarly...Read More
RAPAPORT...Martin Rapaport called on traders to develop a niche andfocus on providing customers with their precise needs, as he addressedattendees at the International Diamond Week in Israel (IDWI)."The idea that you have a specialized area where you arethe best...is a very healthy place to be, assuming there are customers for it," the Rapaport Group Chairman said Monday in apresentation at the Is...Read More
Precious gemstones miner Gemfields has chosen to pay ?5.8 million (about $7.8m) to community members residing near its Montepuez ruby mine in Mozambique, in a "no admission of liability" move that settles a claim of human rights abuses brought against it by locals.Leigh Day, the London-based law firm representing a group of 273 Mozambicans, argued last year that security forces employed by the...Read More
Mining companies need to determine how to operate in a market that is also characterized by rising stakeholder demands, a widening talent gap, dwindling access to key inputs such as energy and water, and a Chinese economy growing at under 7%, rather than 12%, just to mention some challenges. (Image courtesy of Codelco | Flickr.)2019 could go down in history as the year mining companies stopped anc...Read More
The world's top diamond producer by output, Alrosa, (MCX:ALRS) has unearthed a rough diamond weighing nearly 200 carats from its Udachnaya pipe, its largest find in more than two years.The 191.46-carat stone, which is white with a slight yellowish tinge, measures 40 mm by 31 mm by 20 mm. It was found earlier this month at the processing plant No 12 of Udachny mining and processing division, th...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday January 29 Copper -$88.48 (-597.87 yuan) Aluminium -$350.47 (-2,368.07 yuan) Zinc -$122.67 (-828.87 yuan) Nickel -$235.34 (-1,590.13 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
RAPAPORT... Alrosa has unearthed a rough stone weighing nearly 200carats from its Udachnaya pipe, its largest in more than two years, the companysaid Tuesday. The 191.46-carat stone, which is white with a slightyellowish tinge, was found earlier this month at the asset's N12 processing plant. The Russia-based miner last found a comparably sized diamond two and a half years ago, it said. "Suc...Read More