Chilean copper giant Codelco produced 342,000 tonnes of copper from its mines in the first quarter of 2019, the company said on Thursday, down 18% from the same period a year earlier.The world ?s top copper miner posted a pretax profit of $372 million for the January-March period, down 31% year-on-year, with a production cost per pound of copper of $1.347, a decrease of 0.3%, the company said.Copp...Read More
Papua New Guinea's new prime minister pledged on Thursday to "tweak and turn" laws governing how natural resources are extracted to help lift the vast South Pacific archipelago out of poverty.James Marape, a former finance minister who became leader after winning a vote in parliament, put some of the world's biggest resources companies on notice over a perceived lack of wealth flowing from their p...Read More
X and STLD stocks were hit with more bearish attentionThe shares of United States Steel Corporation (NYSE:X) have been getting crushed in recent months, and are now set to open at fresh three-year lows after Deutsche Bank weighed in on the broader steel sector. The analyst note released this morning cited changes in the space due totrade tensions and weak prices, and in response X was downgraded t...Read More
China reportedly halted purchases of soy out of the U.S.U.S. stock futures are inching toward a positive open, with the Dow Jones Industrial Average (DJI) pointed higher, as traders digest the latest gross domestic product (GDP) estimate. The Commerce Department said the U.S. economy grew at a 3.1% pace in the first quarter, exceeding expectations. Bond yields are also on the rise, despite reports...Read More
Zambia says its decision to punish miner Vedanta's local operation for breaching environmental and financial regulations is a signal to other firms to follow the law, mines minister Richard Musukwa said on Thursday.Vedanta is fighting Zambia's decision this month to name a provisional liquidator to run Vedanta Resources' 90,000 tonnes Konkola Copper Mines (KCM) business.Legal proceedings have been...Read More
Zambia says its decision to punish miner Vedanta's local operation for breaching environmental and financial regulations is a signal to other firms to follow the law, mines minister Richard Musukwa said on Thursday.Vedanta is fighting Zambia's decision this month to name a provisional liquidator to run Vedanta Resources' 90,000 tonnes Konkola Copper Mines (KCM) business.Legal proceedings have been...Read More
Canadian resource companies are choosing to invest abroad at record levels, amid waning global interest in the nation's energy and mining assets.Statistics Canada reported Thursday that Canadian-based energy and mining companies invested a net C$15.5 billion ($11.5 billion) outside of the country in the first three months of 2019. The exodus of Canadian capital from the sector in the quarter was a...Read More
Rare earths miner Lynas Corp will be allowed to keep operating a processing plant in Malaysia, Prime Minister Mahathir Mohamad said on Thursday, ending months of uncertainty over the future of the Australian-based company's $800 million plant.Malaysia had earlier halted the process for renewing Lynas' licence because of waste disposal concerns.Lynas is the only significant producer outside China o...Read More
"What topics would you like to see being discussed at the next #futureofmining conference?#FOMEMEA"Read full newsRead More
Shiny, pretty and useful in electronics, gold has been prized by humans for millennia, but we're not the only ones out there prospecting. Scientists from Australia's CSIRO have now foun...Read full newsRead More
Frank Giustra-backed Fiore Gold (TSXV: F) will invest $2 million on metallurgical test work and resource expansion drilling at its Gold Rock project in Nevada.In a press release, Fiore said that the work is aimed at supporting a Preliminary Economic Assessment targeted for the end of the year, which should lead to a construction decision by mid-2021.The company is planning approximately 10,000 met...Read More
Frank Giustra-backed Fiore Gold (TSXV: F) will invest $2 million on metallurgical test work and resource expansion drilling at its Gold Rock project in Nevada.In a press release, Fiore said that the work is aimed at supporting a Preliminary Economic Assessment targeted for the end of the year, which should lead to a construction decision by mid-2021.The company is planning approximately 10,000 met...Read More
Frank Giustra-backed Fiore Gold (TSXV: F) will invest $2 million on metallurgical test work and resource expansion drilling at its Gold Rock project in Nevada.In a press release, Fiore said that the work is aimed at supporting a Preliminary Economic Assessment targeted for the end of the year, which should lead to a construction decision by mid-2021.The company is planning approximately 10,000 met...Read More
AngloGold Ashanti (JSE:ANG) (NYSE:AU) paid Renaissance Gold (TSX.V:REN) $300,000 to maintain its 100% earn-in option on the Silicon project in Nevada.AngloGold already kicked off a planned 17,000-metre, Phase 2 drill program on the property with one RC and one core rig.If Anglo completes the payments and exercises the purchase option, RenGold would retain a 1% net smelter return royalty on future...Read More
AngloGold Ashanti (JSE:ANG) (NYSE:AU) paid Renaissance Gold (TSX.V:REN) $300,000 to maintain its 100% earn-in option on the Silicon project in Nevada.AngloGold already kicked off a planned 17,000-metre, Phase 2 drill program on the property with one RC and one core rig.If Anglo completes the payments and exercises the purchase option, RenGold would retain a 1% net smelter return royalty on future...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices, details)By Zandi ShabalalaLONDON, May 30 (Reuters) - Copper prices fell to theirlowest level in nearly five months on Thursday after a Chinesediplomat ramped up rhetoric that could stoke the trade conflictbetween the United States and China and possibly erode metalsdemand.Provoking trade disputes is "naked economic terrorism",Ch...Read More
Only the chirping of birds and insects break the silence at a gold mining site in the Eastern Region of Ghana, right at the foot of the Atewa forest reserve.Caterpillar excavators stand still, as the two Ghanaian companies operating them wait for a new mining permit a process that has been in the works for months.But a fresh pile of sludge spilt over a patch of vegetation suggests the mine is be...Read More
"Magna Gold Corp. Announces Completion of Qualifying Transaction - Increases Land Position - Receives Environmental Permits https://t.co/fjFMG8fYzI"Read full newsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average retreated after Beijing suggested it might ban exports of so-called rare earth elements. Shares of Abercrombie & Fitch (ANF - Get Report) fell sharply after the apparel retailer reported soft first-quarter same-store sales. Dick's Sporting Goods (DKS - Get Report) fell even though the comp...Read More
The three-month tin price on the London Metal Exchange decreased by more than 2% at the close of trading on Wednesday May 29, with volumes traded reaching their highest level since 2017 while spread tightness in the metal's forward curve began to ease.Some 850 lots of tin were exchanged by the close on Wednesday afternoon, with tin's three-month price dipping 2.6% from an intraday high of $19,215...Read More