India's Vedanta Resources has reported a decline in iron ore production in the first three months of 2018 amid a low pricing environment and court-ordered mine closures.The miner's Goa operations accounted for 1.5 million tonnes of saleable production in the January-March period, a 58% year-on-year drop. Sales from its Goa operations stood at 2.4 million tonnes during the period, up 5% year on yea...Read More
China's ferrous futures continued to retreat across the board on Thursday morning April 12, with the benchmark coking coal and coke contracts leading the way in percentage terms.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,386 ($539) per tonne, down 22 yuan per tonne October hot-rolled coil: 3,477 yuan per tonne, down 20 yuan per tonne Dalian Commodity Exchan...Read More
The arbitrage for copper, aluminium, zinc and nickel imported into China on Wednesday April 12* Copper -$142.71 (-898.47 yuan) Aluminium -$499.01 (-3,141.66 yuan) Zinc -$51.32 (-323.09 yuan) Nickel -$612.74 (-3,857.71 yuan) *The physical arbitrage numbers...Read More
Aluminium prices on the London Metal Exchange dipped for the first time this week during morning trading on Thursday April 12, following a 101,725-tonne delivery into European LME-listed warehouses. The delivery was split between Rotterdam and Vlissingen, with 68,150 tonnes delivered into Rotterdam. This is Rotterdam's largest single delivery since July 2014. This comes just a few days after...Read More
Key data from the Wednesday April 11 pricing session in London.Key drivers: - Steady demand in India - Chelyabinsk cancels tender on low bids received; declines to reveal highest bid - Traders say they refrained from aggressively bidding and are worried of exposure to Russia in the backdrop of US sanctions Key quotes: "There...Read More
Base metals traded on the London Metal Exchange experienced downward pressure this morning, Thursday April 12, with the complex posting an average loss of 1.0% amid robust volumes. Zinc is down the most with a 2.3% decline, while tin (-0.1%) is the most resilient.The downward pressure across the industrial metals is being driven by a fragile risk appetite in Asia, evident in domestic equity losses...Read More
Key data from Thursday April 12 pricing session in Shanghai.Key drivers - Indium prices on the Wuxi Stainless Steel Exchange fell to 2,015 yuan ($321) per kg on Tuesday, down from 2,500 yuan per kg in late March, with the softness in futures market dampening sentiment in the physical market.- Spot buying interest has remained low since domestic indium prices...Read More
Import prices for stainless steel in East Asia rose over the past week with Chinese suppliers maintaining their high offers amid costlier nickel, although there was no considerable uptick in demand.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,230 per tonne cif East Asian ports for the week ended Wednesday April 11, up $20-100 per tonne...Read More
Lucara Diamond recovered a 472 carat, top light brown gem diamond from its 100% owned Karowe Diamond Mine located in Botswana. "In 2018, mining at Karowe is focused in the high value south lobe, which consistently delivers large, high quality diamonds in excess of 10.8 carats in size,"said CEO Eira Thomas. "The 472 carat is the third largest diamond ever recovered from the mine and will be sold al...Read More
Increasing disposable income in emerging economies, as well as the adoption of greener technologies, rather than a touted electric cars boom, will drive most of the expected increased demand in copper during the next five years, CRU analyst Robert Edwards said."Electric vehicles (EVs) are a great long-term story, but demand is only expected to be around 1.5% of world refined copper consumption thi...Read More
A group of Spanish archaeologists ran a chemical and isotopic analysis to examine gold fragments that had broken off from one of the artifacts that make up the Carambolo Treasure, a 2,700-year-old cache whose origin has been a source of debate.According to National Geographic, some experts say the pieces were created by Tartessos, a wealthy civilization that thrived in southern Spain between the n...Read More
Canada's Torex Gold Resources (TSX: TXG) announced that, following last week's negotiations that put an end to a five-month blockade at its El Lim??n-Guajes mine, today it received a notification stating that the union in conflict had withdrawn its case before Mexico's Federal Labour Board. Los Mineros Union, led by expat in Vancouver Napole??n G??mez Urrutia, had been fighting since November 3, 2...Read More
https://www.reuters.com/(Reuters) – Not far from Linjiang, people in thin, head-to-toe rubber suits were diving in the river. Locals said they were part of North Korea's smuggling operations.We couldn't figure out what the divers were doing – mending pipes in the river bed, fishing? One local walking along the Chinese side of the river bank was happy to fill us in. "They're mining for...Read More
Apr 13, 2018 Guest(s): Barbara Corcoran Real Estate Mogul Half of life is luck, but the other half is how hard you hustle, says Barbara Corcoran, real estate mogul and investor. Corcoran told Kitco News on the sidelines of the "Three Sharks In A Castle" symposium that her big break into real estate came when she met her boyfriend while waitressing at age 23, who later encouraged her to work as a...Read More
Lucara Diamond Corp (CN:LUC) has recovered a 472 carat, top light brown gem diamond from its 100%-owned Karowe diamond mine in Botswana.Staff reporterThe 472 carat, top light brown gem diamond recovered from Karowe12 APRIL 201812/04/2018commentsshareThe stone is the third biggest diamond ever to be recovered at the mine and the fourth over 100ct to be discovered so far this year.It recovered 218 d...Read More
India's copper smelters could soon renew buying of mine and project stakes abroad to guarantee access to concentrates, the head of India's largest copper smelter said at the World Copper Conference in Santiago, Chile.Tom Azzopardi in Santiago Hindalco business Birla Copper needs access to quality copper reserves in the ground12 APRIL 201812/04/2018commentsshare Jadish Laddhra, CEO of Birla Copper,...Read More
Two years after acquiring part of Anglo American's Chilean operations, private equity-backed Mantos Copper is preparing investments worth about US$1 billion to expand and extend production, executive chairman John MacKenzie told Mining Journal.Tom Azzopardi in Santiago Copper charge: Mantos Copper ready for new investment at Mantos Blancos in Chile12 APRIL 201812/04/2018commentsshare Speaking at t...Read More
New massive breakout patterns have been setting up in the markets for months and our research team at the Wealth Building Newsletter has been quietly watching these setups – waiting for the right time to alert our followers of these exceptional opportunities. Today, we are announcing our research and triggers to all of our followers so you can attempt for profit from our hard work and...Read More
It’s a relatively quiet trend, but the most active of investors—hedge funds and traders—are aggressively putting gold hedges in place.It shouldn’t really be a surprise, given the recent spike in volatility in the stock market. It hasn’t been reported much in the mainstream, but an increasing number of people who make their living from investing are betting on gold. We...Read More
"It's all a fabrication there because I wanted the paycheck for my kids."Continue...Read More