By Marc O'Connor, Deloitte Mining Capital Programs leader and Bora Pasuljevic, Director, Mining Capital Projects, Deloitte UKWith global economic activity improving and new technologies providing opportunities for growth, mining companies are preparing to launch into a new wave of investment. But as they eye the next uptick in the CapEx cycle, mining companies should first focus on rebuilding trus...Read More
SPCC has been processing copper and other metals in Peru since 1960. It is part of the US-based mining and metallurgical group SCC, which generates annual revenues in excess of $6billion around the world. The Peru arm of the business is the country's largest producer of copper, amongst other outputs which include molybdenum, zinc, silver, lead and gold.The company's operations are distributed ac...Read More
LONDON, May 24 (Reuters) - Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash.A dividend would set Anglo Asian apart from many London-listed junior miners, which typically are busy exploring and need to raise money rather than to hand it out."T...Read More
Canadian miners are definitively back in the mergers and acquisitions (M&A) game, with the value of such transactions hitting $25 billion during the first three months of the year, or 86% more than in the same period of 2017, though volume of deals was slightly down.Deals involving critical materials for the making of batteries that power electric cars, particularly lithium and cobalt, led the pil...Read More
Precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) blasted Thursday comments made by the Association of Mineworkers and Construction Union (AMCU) accusing the company of failing to take precautions two avoid injuries at its mines.According to the union, a seismic event on May 22 caused a fall of ground at the company's Ikamva mine, part of Kloof operations, leaving two employees inj...Read More
It intersected 85.8m at 0.39g/t gold and 1.44% from 39.6m; however two other holes did not intersect significant values.It said the average of the first-mentioned drill hole was calculated after cutting two very high copper values, of 36% and 7%, to the value of the third highest of 3.4%.The company recently received a permit to drill in the Sombrero area to the north of Caballito, which president...Read More
SHANGHAI, May 24 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index fell after it rose to a five-month high of 94.2 last night. It lost some gains after the US Federal Reserve released its meeting minutes overnight and disclosed that interest rates would not be raised at a faster-than-expected rate. As su...Read More
* FTSE 100 down 1.1 pct* Pound falls on weak inflation* M&S rises after full-year update* Commodities a drag (Adds quotes, closing prices)By Kit Rees and Julien PonthusLONDON, May 23 (Reuters) - The UK's top share index was knocked down of its highs on Wednesday and sustained its biggest loss in two months as oil majors and commodity-related stocks fell but well-received results made Marks &am...Read More
Investing.com - Gold prices were lower on Wednesday, as investors looked ahead to the meeting minutes of the Federal Reserve and the dollar strengthened.Comex gold futures for June delivery were down 0.24% to $1,288.90 a troy ounce as of 10:34 AM ET (14:34 GMT).Investors are looking ahead to the latest meeting minutes from the Federal Reserve. The minutes are set to be released at 2:00 PM ET (18:3...Read More
* NSE index closes 1 pct lower, BSE index down 0.9 pct* Vedanta drops to lowest close since June 30, 2017* HPCL falls nearly 8 pct, ONGC drops 5.3 pctMay 23 (Reuters) - Indian shares fell on Wednesday, dragged by energy stocks such as Hindustan Petroleum Corp Ltd HPCL.NS and Oil and Natural Gas Corp Ltd (ONGC) ONGC.NS on rising concern that the government may ask state-owned oil firms to share t...Read More
Investing.com - Gold prices were on the back foot in early dealings on Wednesday, hovering near the lowest levels of the year as investors waited for minutes from the Federal Reserve's meeting for clues on the outlook for U.S. interest rates.Comex gold futures were down around 0.1% at $1,291.10 a troy ounce by 3:20AM ET (0720GMT). It slid to as low as $1,281.20 earlier this week, a level not seen...Read More
* NSE index down 0.3 pct, BSE slips 0.14 pct* OMCs, refiners top losers* SBI, Cipla gainBy Krishna V KurupMay 23 (Reuters) - Indian shares fell on Wednesday pulled down by oil companies, while mining and energy conglomerate Vedanta Ltd VDAN.NS hit an over 10-month low as protests against its copper plant in south India turned violent.State-owned oil refiners as well as marketing companies, such...Read More
(Adds details on results, analyst estimates, context on commodity prices)May 23 (Reuters) - British mining and energy conglomerate Vedanta Resources Plc VED.L reported better-than-expected growth in full-year core profit and revenue on Wednesday, driven by stronger commodity prices.A rebound in metals prices has prompted the miner, controlled by billionaire Chairman Anil Agarwal, to expand produ...Read More
He said the partially state-owned miner was working on using various technologies as it looked to the future, including the use of drones."Every company should be striving to move with changes whether they be social or economic challenges and embrace new technology and changing consumer needs," Ivanov said.In terms of digitisation, ALROSA was also investigating being able to trace every stone from...Read More
Cauchari is estimated to have an inferred resource of three million tonnes of lithium carbonate equivalent and 450 milligrams per litre lithium.Read More
The update used the expanded resource announced in February, which increased Chidliak's CH-6 kimberlite pipe inferred resource by 58% to almost 18 million carats at an average grade of 2.41c/t and took the project's total to 22.2Mct.Compared with a 2016 PEA, the update increased diamond recovery 44% over the 13-year mine life to 16.7Mct.It put the initial capex up 4.6% to C$455 million (US$354 mil...Read More
Anglo Asian chairman Khosrow Zamani said at the release of the company's full-year results that its financial position had improved materially with net debt being almost halved, slashing interest charges.Read More
SHANGHAI, May 24 (SMM) – Nonferrous metals saw mixed trading on Thursday May 24. SHFE lead surged 1.5%, tin rose over 1% and aluminium gained 0.8%. SHFE copper dropped 0.9%, zinc lost 0.7% and nickel dipped.The ferrous complex, except for coking coal, rose across the board. Hot-rolled coil led the increases with a gain of 1.5%. Rebar and iron ore rose over 1% and coke nudged up.Cop...Read More
SHANGHAI, May 24 (SMM) – Environmental taxes are likely to drive up production costs for nonferrous metals, given the high levels of emissions in production, said Huang Fuping, Secretary General of the Guangxi Environmental Industry Association. As the Chinese government steps up environmental protection, environmental taxes will become commonplace, he added.At the SMM Le...Read More
Chinese growth has been called a bubble and a figment of statistical manipulation.But within three decades, China has claims of having the biggest metro and longest high-speed rail systems.Quite rightly, those who saw the emergence of China coming expected increasing demand for commodities and gold. They then made a fatal mistake. An assumption was made that an increase in demand for commodities...Read More