Eco Oro said it had invested more than $250 million to develop the project, in the mountains about 400km north-east of the capital Bogota, which contained a measured and indicated resource of 2.21 million ounces of gold at 4.57g/t.Read More
Reports started circulating yesterday that the ZRA had issued an assessment to a prominent mining company, with Jefferies analyst Christopher LaFemina noting it was a "new significant risk" if First Quantum was the miner in question.First Quantum shares were halted by IIROC yesterday after falling more than 12% to C$18.The ZRA has reportedly said items were misclassified as mining machinery which...Read More
Mali's economy minister Boubou Cisse was recently reported as telling a joint news conference with the International Monetary Fund that the government would negotiate with mining companies to draft a new code - but would implement a unilateral decision like the Democratic Republic of Congo if talks didn't work out."Government officials have advised the company that the minister's comments were tak...Read More
It's very important for gold, bond, and stock market investors to stay focused on the main fundamental price drivers and ignore what may feel exciting but is largely irrelevant to price discovery. Citizen demand from China/India and US central bank policy are the main price drivers for gold.From 1960 to 1980, US recessions were generally inflationary, and the Fed raised rates during that period....Read More
The company has started a 30,000-tonne bulk sampling programme that will run until the end of the year.Read More
Mining Journal caught up with Cochrane on the sidelines of the event to talk more in depth about his views on investing in these metals.Read More
Scandinavia has been a happy hunting ground for Mincon in the past 12 months.Read More
The likes of Glencore, Randgold, Zijin, China Moly and Ivanhoe appear to have been blindsided by Congo's determination to push through a new mining code that substantially increases the cost of doing business in the central African nation.Lobbying of President Joseph Kabila (who insisted that the CEOs personally show up in Kinshasa for talks) that lasted six hours ended with no concessions other t...Read More
KINSHASA, March 20 (Reuters) - Democratic Republic of Congo said on Tuesday it would open negotiations with mining companies on Wednesday about implementing a new mining code that hikes taxes and royalties.President Joseph Kabila signed the new code, which replaces a predecessor from 2002, earlier this month despite strong objections from industry, which said it would scare off investment and viol...Read More
(Bloomberg) - Zambia's tax agency plans to conduct audits on mining companies in the country running back six years after uncovering 76.5 billion kwacha ($7.9 billion) of underpayment by a "prominent" miner.The Zambia Revenue Authority may extend the period of the audit should it find a pattern of "consistent, systematic, premeditated" tax evasion, it said in a statement."We are announcing the pr...Read More
LUSAKA, March 20 (Reuters) - Zambia expects to produce more than one million tonnes of copper this year after revising its 2017 copper production upwards on the back of stabe power supply, a senior ministry of mines official said on Tuesday.Rising copper prices were also expected to boost revenue collection in Africa's No.2 producer of the metal, which ranks exports of the metal as its biggest exp...Read More
The auto industry is "waking up too late" to the fact that China will hold most of the world's supply of battery raw material cobalt, Ivan Glasenberg, CEO of top producer of the metal Glencore, said on Tuesday according to a Reuters report."If cobalt falls into the hands of the Chinese, yeah you won't see EVs being produced in Europe etc. They are waking up too late ... I think it's because the ca...Read More
SANTIAGO, March 20 (Reuters) - Workers at Antofagasta PLC's Los Pelambres copper mine in Chile have opted to extend a period of government mediation in an effort to reach agreement on a new labor contract, an industry group said on Tuesday.Workers in the mine's largest union last week rejected an offer for a new labor contract, triggering a period of government mediation and paving the way for an...Read More
ORENINC INDEX - Monday, March 19th 2018Last week index score: 26.73This week: 40.03 Prospero Silver (TSXV:PSL) discovered a new gold & silver-bearing epithermal vein system during a three-hole drill program at the Pachuca SE project in Hidalgo, Mexico.Avrupa Minerals (TSXV:AVU) said its C$500,000 private placement financing is fully subscribed.The Oreninc Index surged in the week ending M...Read More
SHANGHAI, Mar 20 (SMM) – Base metals rode on momentum from one another and narrowed declines from yesterday. Most nonferrous metals, except nickel, closed lower. Lead fell 0.7%, tin and zinc dipped 0.6%, and copper and aluminium edged down. The ferrous complex rebounded and reduced losses. Iron ore dropped over 2%, coke fell over 1%, rebar and hot-rolled coil ed...Read More
SHANGHAI, Mar 20 (SMM)? 1/4 ?Spot copper in the Shanghai market was offered at a discount of 220-190 yuan/mt on the morning of Tuesday March 20, SMM learned. This compared with discounts of 260-220 yuan/mt on the previous day's morning. For editorial queries, please contact Daisy Tseng at daisy@smm.cn For more information on how to access our research reports, please email service.en...Read More
SHANGHAI, Mar 20 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightExcept for SHFE aluminium, base metals edged down across the board under pressure from cautious sentiment ahead of the Federal Reserve’s meeting that will determine the hike in interest rates. LME copper and nickel fell close to 1%.The eurozone’s seasonally adju...Read More
SHANGHAI, Mar 20 (SMM) –Copper: LME copper fell below the five- and 10-day moving averages without firm support, while the SHFE 1805 contract traded below moving averages with some support at the 51,000 yuan/mt level. We expect LME copper to trade at $6,800-6,850/mt today and SHFE copper to trade at 51,150-51,500 yuan/mt. In the physical market, spot discounts are seen at 230-180 yuan/m...Read More
The company bought 85% of Worcester-based Materials Solutions in 2016, describing the business as a pioneer in the use of selective laser melting (SLM) technology for the manufacture of high-performance metal parts. The business had "grown considerably over the last two years".Siemens' new investment is expected to increase the number of engineers, metallurgists and manufacturing specialists at th...Read More