Fastmarkets' seaborne premium hard coking coal cfr China index continued to edge up slightly on Tuesday July 21 after the latest transaction saw it rebound further from last week's perceived 'bottom'.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.26 per tonne, down $0.09 per tonne Premium hard coking coal, cfr Jingtang: $119.47 per tonne, up $0.91 per tonneHard coking coal,...Read More
Vale's iron ore fines output fell by 7.1% year on year in the first half of 2020, but the company has maintained its 2020 production guidance at 310-330 million tonnes and will assume the lower end, it said on Monday July 20.The company's iron ore fines production came to 127.2 million tonnes in the January-June period, down from 136.9 million tonnes the year before, which it attributed to the eff...Read More
Fresh regulatory changes and government mandates are required to raise the consumption of scrap metal in India, according to members of the Material Recycling Association of India (MRAI).Demand for recycled materials must first increase to stimulate higher collection rates of scrap in India, Ekta Narain, director of business development at technology company Recykal, said in an MRAI webinar last w...Read More
A summary of BHP's production results for metallurgical coal and iron ore for its financial fourth-quarter ended June 30, 2020, as stated in its latest production report released on Tuesday July 21.In brief Metallurgical coal production for the company's 2020 financial year was down 3% year on year to 41.1 million tonnes due to significant wet weather events during the Ma...Read More
Trading activity in China's domestic hot-rolled coil market picked up on Tuesday July 21, with sentiment improving amid the country's economic recovery.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($558-560) per tonne, up 20 yuan per tonneSeveral Shanghai-based traders told Fastmarkets that trading activity in eastern China had risen during the day in comparison with Monday, with rising futu...Read More
China's domestic rebar prices increased on Tuesday July 21 on market participants' expectations of a drop in production.Domestic Eastern China (Shanghai): 3,580-3,600 yuan ($512-515) per tonne, up by 10-20 yuan per tonneSeveral rebar producers that operate electric-arc furnaces are either planning to perform maintenance or have already started doing so amid high prices for steel scrap, in an effor...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More
Ferroglobe has appointed Craig Arnold as its new chief commercial officer, effective immediately, in the second addition to its senior sales team this year of someone from a high-purity silicon background. "Mr. Arnold succeeds Jeff Watson, who chose to step down from his position to pursue other interests while being closer to his family in the United States," London-based Ferroglobe said on July...Read More
Total exports of non-ferrous scrap materials from the United States increased slightly month on month in May after the global economy started to reopen following Covid-19 pandemic-induced shutdowns.Non-ferrous exports totaled 206,857 tons in May, up by 1.4% from 204,044 tons in April but down by 23.3% from 269,571 tons in May 2019.Year-to-date volumes have fallen by 13.4% compared with January-May...Read More
Cypress Development's Clayton Valley lithium project in Nevada is on track to be a potential world-class source of lithium for the global electric vehicle marketLithium has become a critical component of our modern age and is used in rechargeable lithium-ion batteries for a range of electronics, including mobile phones, laptops, cameras, and hundreds of other devices.Furthermore, lithium-ion batte...Read More
The U.S. is fertile ground for a variety of minerals, and Canadian companies are active throughout the country. The Northern Miner presents its top 10 list of the biggest Canada-based firms with substantial assets in the U.S., by market capitalization, as of July 24.1. Barrick GoldMarket cap: US$50 billionBarrick Gold's Cortez pit, looking north. Credit: Barrick Gold.Toronto-based Barrick Gold (T...Read More
Precious metal stocks can be great, albeit volatile investments to add to your portfolio. As a store of wealth, precious metals such as gold tend to rise along with market volatility. It’s no surprise then that gold is now trading at over US$1,850 per ounce. Gold now trades near the US$1,900-per-ounce level that it was a decade ago, when a deep-multi-year crash began. That crash left gold pr...Read More
Precious metals are on a tear. All you have to do is look at the iShares S&P Global Gold Index (TSX:XGD) versus the NASDAQ index to see how well precious metals are doing. The XGD is up over 100% since its March low of just over $10 a share. In contrast, the NASDAQ is up much less than that. Yet barely anyone is talking about precious metals. Furthermore, fundamentals are firmly on the si...Read More
Geologists study drill core at Endeavour's Hounde mine in Burkina Faso. Photo Credit: Endeavour Mining. Endeavour Mining (TSX: EDV) has announced an increase of 554,000 oz. of gold resources at its Hounde mine in Burkina Faso, located approximately 250 km southwest of the capital Ouagadougou.The updated mineral resources now stand at 74.6 million tonnes grading 1.85 grams gold per tonne for 4.45...Read More
The price of gold recently surged past US$1,840 per ounce, hitting a nine-year high and closing in on the 2011 record above US$1,900.Analysts widely expect gold to top US$2,000 in 2020. A run to US$2,500 might even occur. This has investors wondering which gold miners might be top picks to add gold exposure to their TFSA or RRSP portfolios.Recent rallyGold bulls definitely have momentum on their s...Read More
Marathon Gold geologists examining quartz-tourmaline-pyrite-VG veining at the Frank zone at Valentine Lake. Credit: Marathon Gold. Step-out drilling at Marathon Gold's Valentine gold project in Canada's Newfoundland province has extended the Berry zone to the northeast, to a drill-tested strike of 450 metres.The company's latest release includes the assays from 10 holes completed at the Berry a...Read More
Workers in the core shack at the Namdini gold project. Credit: Cardinal Resources. Australia-based Cardinal Resources (ASX, TSX: CDV) announced on Wednesday it has received an improved takeover offer from China's Shandong Gold.The new proposal from Shandong Gold follows a recent takeover bid launched by Russia's Nordgold, whose chairman is currently Cardinal's largest shareholder. The Russian min...Read More
Recessions are scary. It makes it even more so that this one is triggered by a contagious virus that affects the whole world. Further, no one knows how long the pandemic is going to affect the economy, our lives, and our livelihoods.Canada’s unemployment rate was higher than 12% last month. If you count the people who wanted to work but gave up looking and those who are working less than the...Read More
Pure Gold's Red Lake mine site. Image from Pure Gold Mining. Pure Gold Mining has received an amended air and noise permit for its mine in Red Lake, Ontario, which features a processing production limit of up to 1,089 tonnes per day.The amended environmental compliance approval specifies the air and noise limits for mining and milling operations at PureGold's site."Since first acquiring the proj...Read More