(Bloomberg) - Glencore Plc reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management.Mistakidis, one of Glencore's largest shareholders and a key lieutenant of Chief Executive Officer Ivan Glasenberg for more than a decade, will lose control of industrial...Read More
JOHANNESBURG, Jan 15 (Reuters) - Acacia Mining said on Monday said fourth-quarter production fell by a third on the previous year due to a ban on exports of gold and copper concentrates in Tanzania.The London-listed miner said production in the three months to December fell 30 percent to 148,477 ounces compared with a year ago and 22 percent from the previous quarter. This brought 2017 gold to 767...Read More
The rebound in the precious metals sector continues. Friday, Gold pushed to another new high, near $1340/oz. Gold stocks led by the HUI Gold Bugs Index and GDX also made a new high with juniors and Silver right behind. The greatest traders say the move comes first and then the reason later. When it comes to Gold we are always analyzing the reason behind the moves so we can distinguish between reac...Read More
Mike discusses the copper market. It is a massive market with 20 millions of tons production per annum which is ten times larger than nickel. In this series, we've worked from the niche battery metals all the way to the largest which is "big copper".Copper is particularly interesting as Electric Vehicles represent a new area of incremental demand. The average E.V. requires 80kg more copper than a...Read More
An earthquake in Peru on Sunday has claimed two lives and caused an illegal mine to collapse.The epicentre of the magnitude 7.1 quake was in the southern region of Arequipa, offshore from the town of Lomas, at a depth of around 36 kilometres, the US Geological Survey said.Governor Yamila Osoria tweeted that the earthquake caused damage to buildings, including adobe houses, and caused roads to coll...Read More
Image: GlencoreZinc hit fresh highs above $3,400 a tonne on Friday, the best level since August 2007 as supply worries intensify and the base metal complex finds support from a robust outlook for global growth."From the macro point of view, this is not an environment where you'd want to be shorting metals," Michael Widmer, head of metals research at Bank of America Merrill Lynch, told Bloomberg Ne...Read More
As a general rule, the most successful man in life is the man who has the best informationaheadoftheherd.comIn the 1800's the United States under President James Monroe invoked the Monroe Doctrine, which stated that any effort by European nations to control any independent state in North or South America would be viewed as "an unfriendly disposition towards the United States."The intent of the Mon...Read More
Indonesian authorities inked Friday a deal with state-owned holding Asahan Aluminum, or Inalum, which sets a framework for Freeport-McMoRan (NYSE:FCX) to transfer control of its massive Grasberg copper and gold mine as agreed last year.The country and the Phoenix, Arizona-based miner had arranged in principle in August that up to a 51% stake in Freeport's local unit, PT Freeport Indonesia (PTFI),...Read More
The stock markets have rocketed higher since Trump's election win on hopes for big corporate tax cuts. This extreme rally has left stocks exceedingly overvalued and overbought today. A major selloff is long overdue and likely imminent. When stocks inevitably roll over and mean revert lower to rebalance away euphoric sentiment, gold is the main beneficiary. Gold investment demand soars when...Read More
Valor heads into a busy 2018 drilling and study schedule with plenty of wind in its sails after boosting the total resource tonnage by 80% at the Berenguela copper, silver and zinc project, and expanding estimated copper and silver resources to more than 770 million pounds and 127 million ounces, respectively, both up 37% on previous estimates.Total contained zinc in the latest JORC mineral resour...Read More
Certainly CEO Rob Henderson thinks the company's circa-18% gain since the start of 2018, taking its market capitalisation to around US$174 million (C$219 million), is just a step in the right direction."I believe that investor awareness of Amerigo is improving and our recent Q3 earnings of US$7.9 million demonstrate that we can generate good cash flow at a copper price of US$3.00/lb [now about US$...Read More
YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) ("Yamana" or "the Company") herein provides preliminary fourth quarter and full year production results for 2017. The Company is also pleased to report on construction activities at its Cerro Moro project in Argentina.Fourth quarter and 2017 operational highlightsStrong production momentum continued into the fourth quarter and for the full year 2017. Preliminar...Read More
By JEFF DESJARDINS on January 10, 2018Courtesy of: Visual CapitalistRecords for renewable energy consumption were smashed around the world in 2017.Looking at national and state grids, progress has been extremely impressive. In Costa Rica, for example, renewable energy supplied five million people with all of their electricity needs for a stretch of 300 consecutive days. Meanwhile, the U.K. broke...Read More
LUSAKA, Jan 11 (Reuters) - Zambia expects to collect more revenue from mining companies this year compared to 2017 after copper prices rose above $7,000 per tonne, the revenue authority (ZRA) said on Wednesday.ZRA Commissioner-General Kingsley Chanda said at a media briefing the authority was targeting a revenue-to-GDP ratio of 17 percent this year, higher that 16.8 percent in 2017."The copper pri...Read More
JAKARTA (Reuters) - Indonesia hopes to finalize contract talks with Freeport McMoRan Inc over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday.Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to Grasberg to a new mine license system from an existing contract of work. Under th...Read More
The world's mining sector is firing on all cylinders again, and one of it's biggest investors can't wait to get paid.After five years of under-performance, a combination of synchronous global growth and under-investment in new supply has driven up commodity prices, increasing cash flow and profit margins for the world's biggest mining companies, according to BlackRock Inc.'s Evy Hambro."When those...Read More
(Bloomberg) - Electric vehicles could hold the key to BHP Billiton Ltd. finally finding a buyer for its unwanted nickel operations.The world's top miner is accelerating plans to transform Nickel West in Western Australia into a linchpin of the global supply chain for electric vehicle batteries. The switch in focus promises to woo new suitors after an aborted 2014 attempt to sell the business, a su...Read More
US Army Corps of Engineers' acceptance of wholly-owned Pebble Limited Partnership's Clean Water Act 404 permitting documentation in January 2018 for Pebble, provides a basis for the Alaska copper-gold company to move into a long-awaited objective and transparent Environmental Impact Statement (EIS) phase for an actual project in the state's Bristol Bay region - a process under which it can d...Read More
Canada's Pancontinental Gold Corporation (TSXV: PUC), a company whose focus is on the Jefferson gold project in South Carolina, wants to expand its presence in the market for key battery metals.The Toronto-based firm announced today that it has entered into an option agreement with 2522962 Ontario Incorporated to acquire a 100% interest in the Montcalm West Nickel-Copper-Cobalt Project, located 65...Read More
The Democratic Republic of Congo may soon more than double the tax mining companies operating in the country pay on exports of cobalt, a key component in the lithium-ion batteries that power electric cars and mobile phones.The African nation, responsible for about two thirds of global cobalt output, has been evaluating the measure since last month, when a major revision to the 2002 Mining Code was...Read More