SHANGHAI, May 10 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index hit yet another new four-month high at 93.42 overnight as treasury yields grew. It then came off slightly but remained above 93. It closed at 93.09, up 0.03%.The two-year treasury yield hit 2.53%, its highest level since September 8, 2008, while the 10-y...Read More
(Adds details)LUSAKA, May 9 (Reuters) - Vedanta Resources ' VED.L Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18 million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday.Zambia's revenue authority concluded audits of mining companies that prompted it to hit Canadian miner First Quantum Minerals FM.T...Read More
LUSAKA, May 9 (Reuters) - Vedanta Resources ' VED.L Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18 million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday.Zambia's revenue authority concluded audits of mining companies that prompted it to hit Canadian miner First Quantum Minerals FM.TO with a tax b...Read More
Investing.com - Gold prices fell on Wednesday, pressured lower by strength in the dollar and Treasury yields after the U.S. withdrew from the nuclear deal with Iran, which kept prices within reach of two month lows.On Tuesday, President Donald Trump pulled the U.S. out of the international nuclear deal with Iran, raising the risk of conflict in the Middle East and a knock-on effect for global oil...Read More
Midas' sole focus is the Stibnite gold project in central Idaho, a historic mining area that was abandoned in the 1990s after 100 years of activity, and which the Vancouver-headquartered company's studies suggest holds the eighth largest gold reserves in the United States, as well as significant amounts of antimony, a material with flame retardant qualities.Read More
Signs of a rebound to more balanced conditions can be seen in the way the price has moved and can also be seen in the price-setting for treatment charges (TC) negotiated between miners and smelters.Read More
Hard rock lithium deposits are going to fill the demand as they are more evenly geographically distributed across the globe and are less dependant on a changing climate for production than lithium brine production. They are more and more filling the supply gap.According the United State Geological Survey's 2018 Mineral Commodity Summaries, Australia was the largest producer of lithium. It produc...Read More
IronRidge currently has one drill rig out at the Ewoyaa lithium project in Ghana as part of a 7,000m programme, which CEO Vince Mascolo said was a big moment for the explorer.Read More
For example, Ironbark said this week it was in the process of recruiting a mining crew and development team, and was "targeting" a shipment of fuel and materials to the site as part of "planning" to begin preliminary works at Citronen - including starting the boxcut, portal and decline into the Beach zone ore body. Read More
SHANGHAI, May 10 (SMM) – Nonferrous metals futures inched up for the most part on Thursday May 10. Tin gained nearly 0.5%, while copper, zinc, and lead went up slightly. Aluminium edged down, and nickel fell close to 0.4%.The ferrous complex rose across the board except for iron ore, which lost over 0.4%. Hot-rolled coil gained nearly 1%, while rebar, coking coal, and coke edged up.Copper: T...Read More
The company agreed to acquire the advanced Brazil project from Vale SA in December for US$8 million.Vale had put Vermelho's resource at more than 1 million tonnes of contained nickel and 43,000t of contained cobalt.Read More
SHANGHAI, May 10 (SMM) – Spot copper was mostly offered at a premium of 10-100 yuan/mt over the SHFE 1805 contract on Thursday May 10 in the Shanghai market. This compared with a premium of 20-100 yuan/mt on the previous day. Transactions of high-quality copper cooled from the previous days, with cargoes mostly offered at a premium of 80 yuan/mt, SMM learned. Trading of standard-quality...Read More
Randgold Resources' March quarter was marked by lower production at its major operations, which hit cash flow despite cost reductions at some operations.Read More
SHANGHAI, May 10 (SMM) – Sales of new-energy passenger vehicles in China came in at 73,145 units in April, up 150% year on year and up 31.3% month on month, according to data from China Passenger Car Association (CPCA) released on Wednesday May 9.The jump in April suggested a continuous growing demand, Cui Dongshu, secretary general at CPCA, was quoted as saying in local media reports.The A0...Read More
The company produced a record 68,088 ounces of gold during the three-month period, jumping 357% year-on-year.Read More
A proposed mining code review in Ghana and Mauritania's rejection of a key permit to expand a project dealt it a double blow, Bloomberg reported.Kinross had also flagged that Mauritania's government wanted to "enter into mutually beneficial discussions respecting all of Kinross' activities in Mauritania" in its quarterly results this week. On a positive note, shares in junior Midas Gold (TSX:...Read More
SHANGHAI, May 10 (SMM) –Copper: LME copper rebounded to a high of $6,810/mt from a low of $6,766/mt during the European trading session overnight. The SHFE 1807 contract traded rangebound overnight. Its trading level nudged up and hit the five-day moving average. We expect LME copper to trade at $6,800-6,850/mt today with SHFE 1807 contract at 50,900-51,300 yuan/mt. Spot premiums are seen to...Read More
It said an "immutable and secure digital trail" had been created using the developed Tracr platform for a selection of rough diamonds moving from a De Beers mine to a cutter and polisher to a jeweller.The platform should be launched later this year for all in the industry to use with the aim of improving visibility and trust within the industry, enhancing efficiencies across the value chain and en...Read More
Justifiably, Idaho's neighbouring states hog the spotlight when it comes to exploration and mining investment.But Barrick Gold's move on Midas Gold to secure a big say in development of one of the biggest emerging mines in the US (based on the circa-300,000ozpa projected run rate) signals the gold major is happy to look outside Nevada for its next significant ‘safe jurisdiction' project...Read More