The funds raised through the listing of its common shares on AIM will help with the development of South Crofty, for which it needs to raise £25 million (US$34 million) over the next 18 months to progress towards a production decision.Read More
RAPAPORT... Firestone Diamonds has appointed industry veteran Paul Bosmato succeed Stuart Brown as CEO from July 1, the company said Monday. Bosma (pictured) - who worked for De Beers for 14 years - joinedFirestone as mineral-resources manager in 2014, and was promoted to generalmanager of its Liqhobong mine in Lesotho in 2016. His responsibilities haveincluded overseeing the asset's ra...Read More
(IDEX Online) - Firestone Diamonds plc, which has diamond operations in Lesotho, has appointed Paul Bosma to replace Stuart Brown as Chief Executive Officer from 1 July following Brown's decision to step down as CEO and company director. Bosma has more than 24 years' experience in the mining industry, of which 14 years have been in the diamond sector where he worked for De Beers,...Read More
Italian steelmaker Acciaierie Venete has suspended production at its Padova plant in Northern Italy after four employees were injured by molten steel from a defective ladle carrying the material on May 13.Long steel production at the plant has stopped while an investigation into the accident, which also caused a fire at the plant, takes place.The company hopes to restart its rolling mill by Tuesda...Read More
RAPAPORT... Titan Company's sales grew in fiscal 2018, driven by successful marketingactivity, as well as government regulations that favored the more organized jewelrysector, the retailer said. Revenue from all categories rose 21% to $2.41 billion (INR 162.45billion) in the financial year ending March 31, while profit surged 58% to $163.9million (INR 11.05 billion), the Indian company report...Read More
The Government of Zimbabwe increased the ECI to 10% from 2.5% of revenue with effect from February 1, which helped boost Caledonia's net profit attributable to shareholders by 34.9% year-on-year to US$3.1 million.Read More
Prices in the Black Sea billet export market picked up by $9 per tonne over the week ended Monday May 14 with customers accepting higher prices from CIS-region suppliers, Metal Bulletin has learnt.The fact that the US threatened last week to reimpose international trading sanctions on Iran, which may result in reduced billet export volumes from the Middle Eastern country, gave additional support t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Aurora Cannabis (ACB $8.07) made a share exchange takeover offer for MedReleaf (LEAF $24.90) valued at $3.2 billion.Xerox fell $1.47 to $28.70 after dropping its merger plans with Fujifilm. JP Morgan downgraded the stock to Neutral from Overweight. Lululemon added $0.63 to $98.54 after JP...Read More
China's domestic rebar prices were mixed on Monday May 14, with those in east China remaining unchanged while the northern region pushed through increase. Export prices also rose slightly amid higher bids. Domestic Eastern China (Shanghai): 3,960-4,010 yuan ($625-633) per tonne, unchanged Northern China (Beijing): 3,930-3,970 yuan per tonne, up 30 yuan per tonne The frequent but slight changes exp...Read More
Johnson Matthey said its latest PGM market report that 2017's surplus had been caused by a combination of lower total demand, flat mine supply, improved recycling volumes and higher sales from South African producers, offset by lower shipments from Russia and Zimbabwe.Read More
Listen to this podcast on our site by clicking here or subscribe on iTunes here. Tian Yang, Variant Perception's Head of Research, recently covered their must-read Understanding Leading Economic Indicators report with FS Insider. Yang explains the three major categories that most economic data fall into, how leading economic indicators (LEIs) help identify high risk/reward trades, w...Read More
SHANGHAI, May 14 (SMM) – Most nonferrous metals rose and closed higher on Monday May 14. SHFE nickel surged 2.4%, lead gained 1.3% and tin and copper inched up. SHFE aluminium and zinc edged down.The ferrous complex rose across the board with coke leading the gains with an increase of 2.3%. Iron ore jumped 2.2%, coking coal rose 0.7% with rebar and hot-rolled coil inched up.Copper: As longs...Read More
SHANGHAI, May 14 (SMM) – Most nonferrous metals rose and closed higher on Monday May 14. SHFE nickel surged 2.4%, lead gained 1.3% and tin and copper inched up. SHFE aluminium and zinc edged down.The ferrous complex rose across the board with coke leading the gains with an increase of 2.3%. Iron ore jumped 2.2%, coking coal rose 0.7% with rebar and hot-rolled coil inched up.Copper: As longs...Read More
SHANGHAI, May 14 (SMM) – Most nonferrous metals rose and closed higher on Monday May 14. SHFE nickel surged 2.4%, lead gained 1.3% and tin and copper inched up. SHFE aluminium and zinc edged down.The ferrous complex rose across the board with coke leading the gains with an increase of 2.3%. Iron ore jumped 2.2%, coking coal rose 0.7% with rebar and hot-rolled coil inched up.Copper: As longs...Read More
Both the European spot and Chinese export ammonium paratungstate markets continued to move higher last week amid concerns of supply disruptions due to continued environmental inspections in China. Concerns over disruptions at ammonium paratungstate smelters in Jiangxi province, a major production hub, continue More inquiries were seen in the European spot and Chinese export markets for ammo...Read More
It said cobalt prices had reached "dizzying heights" this year amid a tight market and supply concerns and said it believed demand from most major end-users, particularly the battery sector, was set to increase."Roskill's base-case forecast suggests that demand from the battery sector alone could reach 240,000t by 2027 (more than double the size of the whole market today)," it said.Roskill, which...Read More
The drilling program will follow up on the recently discovered "West Zone" and target additional potential discoveries at Copper KingELKO, Nev., May 14, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and development company, is pleased to announce the forthcoming Copper King drilling program for 2018. This program, comprised of two phases, will begin with an initial p...Read More
SHANGHAI, May 14 (SMM) –Copper: Copper prices saw steady gains last Friday night on a weakened US dollar. LME copper stood above all moving averages with strong support, and it is expected to trade at $6,900-6,960/mt today. The SHFE 1807 copper contract stood above the 20-day moving average with pressure from the 60-day moving average. We see it trading at 51,400-51,800 yuan/mt during the da...Read More
SHANGHAI, May 14 (SMM) – SMM takes a bearish outlook on nickel prices in May and June as optimism from nickel sulphate for the battery industry weakened. Whether pressure will emerge from the nickel pig iron (NPI) side in the stainless steel industry remains to be seen.The price gap between China's battery-grade nickel sulphate in nickel content and nickel cathode will continue to n...Read More
SHANGHAI, May 14 (SMM) – China’s zinc social inventories inched up slightly over the weekend with the inflow of imported materials, SMM found.The overall zinc inventories in warehouses across Shanghai, Tianjin and Guangdong rose 3,300 mt to 139,400 mt as of Monday May 14, SMM data showed. This is up from 136,100 on Friday May 11.The inventories in Guangdong and Tianjin declined ab...Read More