Iron ore seaborne prices eased a little on Tuesday December 10, but some market participants remained optimistic that steel mills' restocking will likely lend some support.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.57 per tonne, down $0.36 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.66 per tonne, down $0.36 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.48 per tonn...Read More
Seaborne coking coal prices edged up on Tuesday December 10 amid a strengthening market for the steelmaking raw material as well as that for coke in China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.25 per tonne, up $0.04 per tonnePremium hard coking coal, cfr Jingtang: $150.34 per tonne, up $1.34 per tonneHard coking coal, fob DBCT: $122.33 per tonne, up $1 per tonneHard coking co...Read More
Higher offers for Indian hot-rolled coil in the international market have raised the likelihood of transactions involving the flat product from China despite further price gains in the East Asian country's domestic market.DomesticEastern China (Shanghai): 3,820-3,830 yuan ($543-544) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,660 yuan per tonne, down 10 yuan per tonneSpot prices in...Read More
The three-month nickel price on the London Metal Exchange fell during morning trading on Tuesday December 10, softening by more than 3% against a fresh inflow of 14,742 tonnes across LME-registered warehouses in Asia and Europe. Nickel's outright price on the LME was recently seen at $12,930 per tonne, a decline of more than $400 per tonne from Monday's closing price of $13,340 per tonne. Tur...Read More
China's domestic rebar prices moved up further on Tuesday December 10 on early gains in the futures market, though sentiment among participants remained bearish. Eastern China (Shanghai): 3,910-3,940 yuan ($555-560) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneSellers kept raising their prices after rebar futures climbed steadily in the m...Read More
Base metal markets have become more mixed this week with copper and tin running higher, zinc, lead and nickel consolidating just above low ground and aluminium oscillating sideways.Broader markets that have been seeing more risk-on are now consolidating while they wait for some key political decisions on the United Kingdom's general election, and its ramifications for Brexit, and on the United Sta...Read More
With the exception of those for zinc and lead that were marginally down, base metals prices on the Shanghai Futures Exchange were stronger during the morning trading session on Tuesday December 10.The broadly positive performance comes after another round of better-than-expected data releases on Monday continued to point to a stabilization in the global economy, which in turn boosted risk sentimen...Read More
South African state power utility Eskom was forced to implement stage 6 load shedding for the first time ever on Monday December 9 amid a severe lack of generating capacity.Eskom implements load shedding - controlled power blackouts - to reduce pressure on the country's power grid when power is severely constrained.Eskom had previously outlined plans for stage 5 and 6 load shedding but, prior to M...Read More
Reversing a recent re-commitment to its New Caledonian operations, Brazilian miner Vale told investors it would "exit VNC (Vale New Caledonia)", but some analysts wonder if or how Vale will extricate itself from the long-troubled South Pacific island venture.Vale did not specify at its annual investor briefing how it would exit the nickel and cobalt mine. "By the first half of 2020, we will tell y...Read More
Mogale Alloys has issued a Section 189 notice - a South African legal requirement representing an intention to retrench staff - amid low chrome ore and ferro-chrome prices. Ilitha Mining, another subsidiary of Afarak, has also issued a Section 189 notice, the company said. Helsinki and London-listed mining and metallurgical group Afarak said on Monday December 9 it has been forced to scale down op...Read More
Vancouver-based, Solaris Resources Inc., announced the appointment of former star research analyst, Daniel Earle, as President and CEO on November 7, 2019. The company is reportedly advancing a portfolio of exploration projects in the Americas.Mr. Earle has more than 17 years of experience in the mining industry and capital markets, but rose to prominence as a Bay Street analyst known for making p...Read More
Vancouver-based, Solaris Resources Inc., announced the appointment of former star research analyst, Daniel Earle, as President and CEO on November 7, 2019. The company is reportedly advancing a portfolio of exploration projects in the Americas.Mr. Earle has more than 17 years of experience in the mining industry and capital markets, but rose to prominence as a Bay Street analyst known for making p...Read More
Save Canadian Mining...Restore the uptickrequirement If someone wanted to destroy the Canadian junior mining industry, that person couldn't do a better job than is currently being done by banks, brokers, traders and regulatory agencies. Permitting stocks to be shorted on downticks (as a stock is moving down in price) is outrageou...Read More
Key market indices closed higher around the globe yesterday and most futures were looking up at the time of writing.News out of Indonesia boosted copper and nickel prices in London, Marex Spectron said, referring to reports the country's copper concentrate output was below target and it would double royalties on sales of nickel ore to 10%.Copper closed almost 1% higher while nickel rose 3.4%...Read More
The JORC resource for Koroua Island is 52.7 million tonnes at 13.3% heavy minerals, which includes over 1Mt of iron minerals, largely magnetite, plus there are traces of gold and rare earth minerals that require further investigation. The total resource for Sigatoka is now over 184Mt across Koroua Island, Sigatoka River and Kulukulu. The Kulukulu foreshore appears to be more concen...Read More
The company has added more than 1,100 new staff over the past two years and has outgrown its Applecross office. Its new facility in Subiaco is currently being fit out.Read More
Stewart Thomson, Graceland Updates 1. Can gold take out the 2019 highs and carry the miners on a mighty bull run that will stun all the naysayers? 2. Well, please click here now. Goldman analysts think it will happen!3. Some gold bugs view the big banks as "banksters". I like to differentiate between the bank algo traders that operate on the COMEX and the fundamental ana...Read More
COLORADO SPRINGS, Dec. 11, 2019-- Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced the expansion of its Mirador Mine with fifteen (15) exploration drill hole results from its 2019 Alta Gracia projects drill program located at its Oaxaca Mining Unit, Mexico. Highlights include 3.72 meters grading 1.44 grams per tonne (g/t) gold and 990 g/t silver, including 1.00 m...Read More
By: Daniel R. Amerman, CFAAs can be seen in the graph above, for the last 12 weeks there has been a stunning visual correlation between the yellow bars of the total weekly funding of deficits by the Federal Reserve, and the green bars of the weekly deficit spending by the United States government.Total deficit spending, the extent to which monies spent by the federal government exceeded taxes co...Read More
Stefan Gleason, Money MetalsGold-linked exchange-traded products are growing in popularity with investors. Assets held by gold ETFs have grown 38% globally in 2019.In October, according to the World Gold Council, gold ETFs attracted $1.9 billion in net inflows to reach a new record high total gold holding of 2,900 tonnes - at least on paper.There is good reason to be skeptical of whether all the...Read More