(Adds new death toll and comments from cemetery director;restores context) By Jake Spring and Gram Slattery BRASILIA/BRUMADINHO, Brazil, Jan 29 (Reuters) - Vale SA , the world's largest iron ore miner, on Tuesday vowedto take as much as 10 percent of its ore output offline in orderto decommission 10 more dams like the one that burst last week,killing scores of workers and nearby residents. Chief E...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
The gold price finally pierced resistance at $1,300 on Friday, hitting a 7-month high!The $1,300 level has been pesky resistance roughly 12 times over the past 3 to 4 years.It is a psychological price threshold, but also has implications for paper futures traders.The bulls are optimistic that the Federal Reserve will leave interest rates unchanged this week.Growing risks to the global economy are...Read More
IAMGOLD announces decision not to proceed with the construction of Cote Gold project.Previously, I noted that investors were worried about this major investment as many gold projects fail to deliver return nowadays.This is a positive catalyst for the company which will provide some support for its beaten shares.Recently, I have written about IAMGOLD's (IAG) 2018 production and 2019 guidance report...Read More
Game of Thrones loses one of its Dark Hedges trees and all that glitters is not gold.Read full newsRead More
Vancouver, BC - Quadron Cannatech Corporation (CSE:QCC) (the "Company" or "Quadron"), is pleased to announce that it has completed the sale of a BOSS CO2 Extraction System ("BOSS") to Ten-10 Ventures Inc. in Kelowna, British Columbia, Canada ("Ten-10").Ten-10 is an applicant under the Cannabis Act and its principals have years of cultivation experience under medical production rules, and global...Read More
Published 23 Hours AgoUpdated5 Hours AgoReuters Getty ImagesGold jumped to its highest in more than eight-months on Tuesday, on doubts surrounding U.S.-China trade relations and ahead of a Federal Reserve meeting with increasing expectations for a pause to the central bank's rate hike trajectory.Spot gold was up 0.5 percent to $1,310.60 per ounce as of 2:53 p.m. EST, having hit its highest since...Read More
Aluminium's three-month price on the London Metal Exchange fell by almost 3% at the close of trading on Monday January 28, continuing to trade at less than $1,900 per tonne while the rest of the complex followed lower.Total aluminium volumes traded on the exchange were moderate, with 13,588 lots changing hands by the close, and while the metal's LME stock levels remained firmly above 1 million ton...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average sank Monday, led lower by Caterpillar Inc. (CAT) , which missed analysts' earnings estimates.Caterpillar declined 9.13% after its posted weaker-than-expected fourth-quarter earnings and forecast a "modest" in increase in 2019 sales.Nvidia Corp. (NVDA) tumbled 13.8% after slashing its revenu...Read More
The aluminium market mainly shrugged off the US Department of the Treasury's Office of Foreign Assets Control's (OFAC) long-awaited decision to remove sanctions imposed on producer UC Rusal on Sunday. The market said the removal of sanctions had been expected and therefore is already priced into the premium levels. But Rusal's next move will remain a crucial key to how the market develops in...Read More
The copper scrap discount in January has narrowed month on month for Chinese imports, mainly due to limited scrap availability following a drop in copper's outright price.No 2 copper scrap, which includes birch and cliff of 94-96% copper content, was being sold into the country at a discount of 24-30 cents per lb this month, Fastmarkets assessed. The spreads are smaller compared to 26-34 cents per...Read More
"The economic and financial condition of the U.S. and global economy is similar to that of 2008, although I think now it's a lot worse than it was back then...the 'gravity' of true fundamentals has finally gotten ahold of stocks..."Fundamentals ultimately drive value. In terms of the fundamentals, financial assets - stocks, bonds, real estate - are extremely overvalued. The precious metals sec...Read More
Spot treatment charges (TCs) for zinc concentrates rose in January with the market continuing to trade at prices significantly higher than $200 per tonne.Fastmarkets assessed TCs for spot zinc concentrates at $210-240 per tonne on Friday January 25, up from $210-230 per tonne last month, reflecting a rise in the number of deals made at higher prices and a wider spread in trades.The spot zinc conce...Read More
A joint venture between Trafigura and a Saudi Arabian company will start building a major copper, zinc and lead smelter complex in Saudi Arabia approximately one year from now, a company source has confirmed with Fastmarkets. The designated capacity at the complex will be 400,000 tonnes per year of copper, 200,000 tpy of zinc and 55,000 tpy of lead, the source said. The $2.8 billion project in Ras...Read More
First Quantum Minerals Ltd is planning to restart operations at its Las Cruces mill in Spain next month to process existing stockpiles and is awaiting approval to resume activities in part of the associated open-pit mine following a land slippage last week. Subject to regulatory approvals, the mill will resume "sometime in February," the Toronto, Canada-based company said. The stockpiles are lower...Read More
Cobalt prices slumped to near two-year lows last week before stabilizing after a psychological move through $20 per lb incited an improved level of spot inquiries. Fastmarkets' standard-grade cobalt price ended the week at $19-21.15 per lb, in-warehouse, compared with $19-21.40 per lb midweek. Prices had slumped by 9.5% two days earlier. Alloy-grade cobalt prices were slightly lower at $...Read More
Key data from the pricing sessions in London and Shanghai on Friday January 25.ChinaThe Chinese silicon fob price held steady in a quiet export market with few inquiries and only a little trade ahead of the looming Chinese New Year holiday (Feb 4-10).Prices have been underpinned by supply constraints, with some silicon refiners in southern China curbing production to avoid higher electricity...Read More
Turkish deep-sea scrap import prices have gone up after a large number of cargoes were booked from European, Baltic Sea and US origins, sources said on Monday January 28.Several deep-sea bookings from a variety of locations came to light late on Friday after the deadline for the indices that day.A steel mill in the Izmir region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) a...Read More
The copper scrap discount in January has narrowed month on month for Chinese imports, mainly due to limited scrap availability following a drop in copper's outright price.No 2 copper scrap, which includes birch and cliff of 94-96% copper content, was being sold into the country at a discount of 24-30 cents per lb this month, Fastmarkets assessed. The spreads are smaller compared to 26-34 cents per...Read More
Domestic scrap prices in Turkey have increased over the past seven days, in line with higher costs for imported scrap, sources said on Monday January 28.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) ferrous scrap was TRY1,500-1,660 ($284-315) per tonne delivered on January 28, rising from TRY1,450-1,630 per tonne last week.The change in the assessment came after some st...Read More