In March, it said it was raising upwards of A$5 million (US$3.86 million) for exploration in Colombia.The company hopes the diamond drilling programme will confirm and expand the gold mineral system previously drilled by a previous owner, as well as test a previously undrilled geophysical anomaly.Of the three diamond core holes previously drilled, the best hit a 384m intercept grading 1.1g/t gold,...Read More
The company in February applied for 19 contiguous exploration licences over 5,700 square kilometres in western Queensland, and appears to be targeting a potential southern extension of the Mount Isa fault under the Georgina Basin.Read More
The company, formerly known as Ortac Resources, has acquired a further 6% interest from Terra Metals in exchange for 17.5 million new ordinary shares of no par value in Arc Minerals.It became Zamsort's largest shareholder in mid-May when it upped its holding from 14% to 49% by acquiring 35% of Terra's shares in Zamsort for 102.1 million new ordinary shares.Arc also holds a convertible loan note in...Read More
SHANGHAI, Jun 5 (SMM) –Copper: Copper prices rose overnight as the US dollar weakened. Labour negotiations at BHP’s Escondida copper mine in Chile, the world’s largest copper mine, which began last week are also likely to weigh on supply. In light to the shutdown of the second largest copper smelter in India, SMM remains bullish on copper prices in the short term due to the expec...Read More
London-listed Petropavlovsk (POG) is in the midst of a major shareholder battle that could see the whole board booted at the June 29 annual general meeting.Read More
What they fail to foresee is that by providing money at a low cost of capital they oversupply investment capital, facilitating market over-supply.The end result is that despite increased demand, commodity prices lag, leaving investors with sub-optimal returns.Even if investors' expectation for supply deficits turns out to be true, there is no reason why they should build-in higher commodity prices...Read More
DMT is calculating an updated resource estimate for the project, which is expected to be released soon, and which will form the basis of the PEA. The resource update is expected to entail an increase of tonnage based on the exploration work undertaken over the past 18 months, and an upgrade of resource classification, in line with Canada's National Instrument 43-101 guidelines.Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased slightly this week but demand was limited because of the damping effect on business of the Islamic holy month of Ramadan, sources told Metal Bulletin on Tuesday June 5.Buyers prefer to postpone bookings during the holy month, which started in mid-May.Working hours are reduced in Saudi Arabia; Ramadan is always a slow m...Read More
See these two Richard Schodde graphs.Ultimately, however, mineral exploration underwent a very significant structural change because of this progressive shallow ore deposit depletion. This structural change was signalled by the fact that, for the first time in modern history, a very strong multi-year increase in mineral exploration expenditure was not answered by a parallel increase in ore deposit...Read More
An award-winning journalist who has been covering the Canadian, Americas and global mining investment markets for more than a decade, Lazenby was most recently deputy editor, North America, for Mining Weekly.He has been based in Canada for the past six years and has travelled extensively to report on conferences, events, projects, mines and companies.Prior to his time in Canada, Lazenby worked in...Read More
Some steel prices in the United Arab Emirates rose this week, with producers optimistic about future demand, while local rebar demand was strong, sources told Metal Bulletin on Tuesday June 5.Domestic rebar Major rebar producers in the UAE announced new rebar prices on May 23. The biggest steel producer, Emirates Steel, is offering rebar at 2,295 dirhams ($625) per tonne ex-works. Compatriot produ...Read More
Comex copper prices ticked higher on Tuesday June 5, while concerns over material supply loom following disruptions in Chile and India.Copper for July settlement on the Comex division of the New York Mercantile Exchange rose 4.05 cents or 1.29% to $3.175 per lb."Copper finished higher yesterday as Chilean labor talks come...Read More
All base metals prices on the London Metal Exchange recorded positive moves up during morning trading on Tuesday June 5, with zinc's three-month price leading the complex higher amid a weaker US dollar index. The zinc price climbed 1.4% to reach a high of $3,175 per tonne over the morning. Sister-metal lead is trading in similar form, with this week's push above $2,500 per tonne keeping firmly in...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday June 5*Copper -$125.73 (-807.21 yuan) Aluminium -$573.97 (-3,684.95 yuan) Zinc $0.21 (1.36 yuan) Nickel -$422.68 (-2,713.62 yuan) *Metal Bulletin calculates the physical arbitrage for import into...Read More
RAPAPORT... Barbara Wheat will leave her position as president of theAsian Institute of Gemological Sciences (AIGS), the institute's owner, the HoGroup, said Tuesday. Wheat (pictured) will relocate from Thailand to the US to become vicepresident of international relations and business development for the Ho Group.Before joining AIGS, she was executive vice president of the Natural ColorD...Read More
London Metal Exchange three-month base metals prices pared gains during morning trading on Tuesday June 5, with copper, nickel and zinc prices consolidating lower, while the rest were largely unchanged. On average, the base metals prices were down by 0.1%, while total trading volume was low, with only 5,496 lots traded as at 06.32am London time.With the dollar index trading above 94.00 again, it i...Read More
RAPAPORT... Technology group Synova has opened a new diamond-sawingcenter in Mumbai, the company said recently. The hub - the Swiss manufacturer's second in India -will provide laser-sawing services, stone analyses and machine demonstrations,which will speed up turnaround for diamonds sent in by customers for cutting,the company said. "We will be able to serve our local customers better and f...Read More
ICMM CEO Tom Butler has provided the foreword to the "Mining Journal Global Leadership Report: Preparing for transformation" which is being released later this month.The former soldier who went into the oil and gas industry then mining finance took on his current role in mid-2015.In his foreword, he notes the growing importance of stakeholder engagement, and mining with principles."It has been est...Read More
RAPAPORT PRESS RELEASE, June 5, 2018, New York... Diamond prices were stable in May as businesses focused on the Las Vegas shows that began on May 30. The JCK fair was relatively slow, with fewer retail buyers attending. Steady dealer demand supported polished price levels.The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.2% in May. RAPI for 0.30-carat goods dropped by the same margi...Read More