Billionaire mining investor Robert Friedland is close to a deal to take over an iron ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation.Friedland is in advanced talks with BHP, Newmont Goldcorp Corp. and Areva SA, that will see him move to develop the Nimba deposit on Guinea's border with Liberia, said the people, who asked not to be identified a...Read More
Billionaire mining investor Robert Friedland is close to a deal to take over an iron ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation.Friedland is in advanced talks with BHP, Newmont Goldcorp Corp. and Areva SA, that will see him move to develop the Nimba deposit on Guinea's border with Liberia, said the people, who asked not to be identified a...Read More
(Updates with closing prices)By Peter HobsonLONDON, May 17 (Reuters) - Copper prices fell for a fifthconsecutive week as the trade confrontation between the UnitedStates and China intensified.Investors fear the dispute will damage economic growth andweaken the outlook for metals demand, with industrial metalsprices down sharply from last summer when it began.Benchmark copper on the London Metal Ex...Read More
"Global Gold Mining Market 2019: key Vendors, Trends, Analysis, Segmentation, Forecast to 2024 https://t.co/9Ud455KUPt"Read full newsRead More
Canadian bullion producer IAMGOLD Corp. (TSX IMG), (NYSE: IAG) said it wasn't aware of any material change that would account for a sharp price rise in its stock on Thursday and into early trading on Friday, following reports that the miner was exploring a possible sale of all or parts of its business.The Toronto-based firm, which doesn't usually comment on speculation and rumours, didn't openly...Read More
Canadian bullion producer IAMGOLD Corp. (TSX IMG), (NYSE: IAG) said it wasn't aware of any material change that would account for a sharp price rise in its stock on Thursday and into early trading on Friday, following reports that the miner was exploring a possible sale of all or parts of its business.The Toronto-based firm, which doesn't usually comment on speculation and rumours, didn't openly...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average finished up more than 200 points Thursday after strong earnings reports from some market heavyweights. Cisco Systems (CSCO - Get Report) advanced after the networking giant posted fiscal third-quarter earnings that topped Wall Street forecasts. Walmart (WMT - Get Report) surged after...Read More
By John R. IngPresident and CEO,Maison Placements Canada Inc. This is an edited version of an article, Gold: A Legacy of Debt, Deficits and Doom, that appears on The Bull & Bear's website, www.TheBullandBear.com. To be sure after a decade of record stock market gains and IPO unicorns, the world's central banks should be threatening to pull the punch bowl away. However the December market co...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying over the afternoon. The upward momentum in the three-month aluminium futures continued throughout the afternoon trading session, with the light metal settling at $1,860 per tonne, its highe...Read More
Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More
Aluminium's three-month price on the London Metal Exchange appreciated during morning trading on Thursday May 16, climbing to an intraday high of $1,864 per tonne after it was buoyed by a fresh cancelation of 33,050 tonnes. The climb marks the light metal's highest price since April 26, but its three-month price has not traded above $1,900 per tonne since April 5, despite more than 400,000 tonnes...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 16 that are worth another look.Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Thursday May 16, with trade uncertainties broadly priced in while a stronger dollar tempered commodity buying during afternoon trading.Metals trader Glencore has reshuffled its c...Read More
Recent optimism for an uptrend in global alumina prices has been knocked by the news that the Federal Court in Bel?(C)m, Brazil, has removed a production embargo on Norsk Hydro's Alunorte alumina refinery, sources told Fastmarkets on the sidelines of the Alumina & Bauxite conference in Zhengzhou, China on May 16-17. This is the first of two production embargoes that need to be removed but sou...Read More
The Federal Court in Bel?(C)m, Brazil, lifted a production embargo on Norsk Hydro's Alunorte alumina refinery under the civil lawsuit on Wednesday May 15. This is the first of two production embargoes that need to be lifted before the refinery can resume full operations. Alunorte is still subject to a production embargo imposed by the same court in a parallel criminal lawsuit. Alunorte will contin...Read More
The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.The head of the Turkish parliament's foreign affairs committee, Volkan Bozkir, met with the charge d'affaires of the US embassy, Jeffrey Hovenier, in Ankara on May...Read More
Although metals markets were mixed this morning, Thursday May 16, the downward trends on the charts seem to have halted; key now will be whether buying and short-covering follows. At least US President Donald Trump's delaying for six months his decision on whether to impose tariffs on imported vehicles and vehicle parts from Japan and Europe has not further broadened the trade war.US treasury yiel...Read More
Six key takeaways from the Cobalt Institute's annual conference in Hong Kong on May 15-16, 2019.Cobalt prices likely to oscillate either side of $15 per lbSupplies of cobalt metal remained limited but the upside for prices would be capped as long as the hydroxide market was in a surplus.Prices were expected to fall over the summer due to weaker seasonal demand, before rebounding as they did at the...Read More
Metals trader Glencore has reshuffled its cobalt team, with David Brocas leading the company's cobalt trading since Franck Schulders has gone on sabbatical.The changes took effect in the past few weeks, Glencore told...Read More
Merger and acquisition activity in the lithium supply chain has caught the attention of investors who have caused share prices to jump for new and upcoming projects, while traditional producers have struggled with low product sales prices and an oversupplied market.Lithium producer share prices have diverged with the "Traditional 5" remaining near the bottom of their 52-week ranges, see chart 1, w...Read More
China's domestic hot-rolled coil prices rose on Thursday May 16, but pessimism continued to cast a pall over the market with trading activity remaining persistently thin.DomesticEastern China (Shanghai): 4,000-4,010 yuan ($582-583) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,890-3,900 yuan per tonne, up 20 yuan per tonneSpot prices rose after mills raised their offers in response to...Read More