Barrick Gold ended an $18 billion Newmont Mining hostile bid in favor of a Nevada joint venture. Barrick Gold stock rose; Newmont Mining stock fell.Read full newsRead More
Gold revisits month-start levels by nearing $1306 ahead of London open on Wednesday. Brexit and trade developments can act as near-term catalysts. $1302 and $1308 are likely immediate levels to watch. Gold trades near the highest level in two weeks, around $1306, on early Wednesday. The yellow metal crossed 50-day simple moving average (SMA) for the first time since November 2018 as latest commu...Read More
There appears to be a consensus among insiders that stocks are likely to face significant resistance at current levels. On Monday, we suggested that insiders were signalling that 1,160 would be a tough nut the crack for the INK Canadian Insider Index. We see the same dynamic playing out in US markets.Stalling insider sentiment suggests stocks may have a hard time advancing Like our Canadian-foc...Read More
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said.The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan...Read More
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said.The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan...Read More
Pakistan's military is taking a key role in the development of one of the world's biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation said.The Reko Diq mine has become a test case for Prime Minister Imran Khan's ability to attract serious foreign investment to Pakistan...Read More
ELKO, Nev. (AP) - Barrick Gold is dropping its takeover bid for Newmont Mining, as the gold companies instead form a joint venture to combine their Nevada mining operations.Last month Barrick Gold Corp. offered to acquire Newmont Mining Corp. for about $18 billion in stock.The joint venture will include the companies' assets and reserves in Nevada. It doesn't include Barrick's Fourmile project and...Read More
Vancouver, BC - Graphite One Inc. (TSX-V:GPH | OTCQX:GPHOF) ("Graphite One" or the "Company"), is pleased to announce that further to the approval received at a Special Meeting of Shareholders held on February 22, 2019 (the "Meeting") and as described in more detail in the management information circular of the Company dated January 18, 2019 (the "Circular"), the Company's name has changed...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average closed lower following Boeing's (BA) slide when several countries grounded the company's 737 MAX 8 after the plane model's second fatal crash in six months. Stitch Fix (SFIX) jumped after the subscription fashion service topped analysts' earnings and sales forecast in its fisca...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 12.Fastmarkets had change the publication date its London Metal...Read More
Copper demand in the Middle East is lagging in comparison to the rest of world, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Tuesday March 12.While global demand for copper is healthy, copper demand in the Middle East remains the laggard, Nexans' head of procurement Christophe Allain and Dubai Cable purchasing manager Laila Marafi agreed when speaking to delegates...Read More
Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More
The European ferro-chrome market should trade through an online portal to set up a transparent pricing mechanism, according to the chief executive officer of trading house UniChrome AG, Dmitry Pastour.The use of an online portal would provide demonstrable liquidity to price indication, Pastour said during a discussion panel at Fastmarkets' Asian Ferro-alloys Conference in Hong Kong this week."With...Read More
The development of the futures market in China has been a "double-edged sword" for the domestic ferro-silicon industry, leading to more flexibility for market participants and wilder price swings than prior to its existence, according to one speaker at Fastmarkets' Asian Ferro-alloys Conference in Hong Kong this week.Ferro-silicon contracts, launched on the Zhengzhou Commodity Exchange (ZCE) in Au...Read More
Key data for the Friday 8 March pricing session in London.Key drivers- Magnesium price increases due to the tight coal supply in China's domestic markets.- A strict round of inspections taking place at all mining companies in North China's Inner Mongolia autonomous region is the main reason for the shortage. This new...Read More
Manganese ore production in China could not play a role in replacing seaborne ore due to factors such as quality and production costs, according to panelists at Fastmarkets' Asian Ferro-alloys conference in Hong Kong on Monday March 11.The domestic manganese ore supply in China cannot play a substantial role in the ferro-alloys or steel sector because of two major issues, Lei Fei, China Minmetals...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More
The London Metal Exchange is prepared for whatever outcome arises from the planned departure of the UK from the European Union, including a so-called "hard" Brexit, its chief executive officer said on Tuesday March 12.The two key requirements for the exchange to continue to operate as normal had already been achieved, or would be achieved, by the time of Brexit, Matthew Chamberlain said.Brexit, th...Read More
The three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.5% this morning, Tuesday March 12.Nickel once again led the way with a 1.4% gain to $13,090 per tonne, compared with Monday's close at $12,915 per tonne, while copper was up by 0.6% at $6,459 per tonne, having closed on Monday at $6,421.50 per tonne. Copper and nickel are in the driving seat...Read More
Chilean lithium miner SQM expects to triple its sales volumes by 2025, to 150,000 tonnes per year of lithium compounds, up from the 45,100 tonnes of such materials sold in 2018.SQM's production capacity for lithium compounds is expected to increase to 180,000 tpy in the next few years to meet growing demand. Current capacity is 70,000 tpy; an interim capacity for 120,000 tpy is expected in 2020.Me...Read More