Canada's Erdene Resource Development (TSX:ERD), one of the very few companies that has successfully navigated Mongolia's ever-changing policies on foreign mining investment, became Thursday the first cross-listed firm on the Asian nation stock exchange.The Halifax, Nova Scotia-based miner's common shares will trade on the Mongolian Stock Exchange (MSE) under the same symbol it has in Canada - E...Read More
Brazil's President Michel Temer signed Tuesday a decree instituting the new Mining Code Rules. This adds up to the set of Federal Government initiatives targeted at overhauling and updating the Brazilian regulatory framework for the mineral industry, and supervenes the current rules that have been in place for nearly 50 years by now.The erstwhile Mining Code Rules (instituted by Decree No. 62,934...Read More
Anglo American (LON:AAL) has agreed to a $600-million transaction with Mitsubishi Corp. that will increase the Japanese company's stake in the vast Quellaveco copper project in Peru to 40%.Chief executive Mark Cutifani, who has long expressed his preference for joint ventures or partnerships to develop big projects and so spread the risk and cost, said the sale of a further 21.9% of Quellaveco was...Read More
SHANGHAI, Jun 14 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar index hit a high of 94.05 overnight following the Federal Reserve Board’s decision to hike interest rate for the second time this year and indication that two more increases are likely in 2018. The index, however, lost some gains later.This move pushed t...Read More
(Bloomberg) -- Nelson Pizarro wants to remain at the helm of the world’s biggest copper company until he can cut the ribbon on a project to convert its flagship pit into a giant underground mine.He’s been in mining for most of his 77 years, with the last four spent guiding state-owned Codelco through a painful downturn. With a change of government in Chile this year and a return to pro...Read More
* FTSE 100 end flat* Just Eat leads fallers on competition worries* Glencore gains after Congo settlement (Adds closing prices)By Danilo MasoniMILAN, June 13 (Reuters) - The FTSE 100 ended flat on Wednesday as a weaker pound supported export-oriented shares, helping offset a fall in Just Eat on fresh competition worries and weaker energy stocks.The index .FTSE fluctuated within a tight range a...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.1 pct* Just Eat lead fallers on competition worries* Glencore gains after Congo settlementBy Danilo MasoniMILAN, June 13 (Reuters) - The FTSE 100 edged up on Wednesday as a weaker pound supported the export-oriented index, helping offset a heavy fall in Just Eat on fresh competition worries and a drop in oi...Read More
(Adds futures, company news)June 13 (Reuters) - Britain's FTSE 100 futures FFIc1 were down 0.31 percent ahead of the cash market open on Wednesday.* South African miner Tharisa THST.L on Wednesday deepened its exposure to Zimbabwe, saying it had bought a 26.8 percent shareholding in Karo Mining Holdings for $4.5 million. British leather handbag maker Mulberry MUL.L said retail like-for-like sales...Read More
This, according to CEO Marz Kord, has allowed the Toronto-headquartered company to complete rehabilitation work without delay and start ramp development and underground diamond drilling as part of a 35,000-tonne bulk sample and an underground exploration programme of the Quebec-based asset. The ramp is on track to reach the next, 5195 level, where ore production is scheduled to start from the...Read More
International diamond specialist Meeus is a founding member of the KP, former head of the CAR's KP monitoring team, former president of the Dubai Diamond Exchange and former director general of the Antwerp World Diamond Centre.He will advise and assist the implementation of the process, propose performance-enhancing measures and promote the country's diamond sector in the aim of make its diamond p...Read More
SHANGHAI, Jun 14 (SMM) – Nonferrous metals futures, except for nickel, fell on Thursday June 14. SHFE tin slumped over 1.5%, lead dipped 1%, aluminium closed 0.78% lower, and zinc, copper inched down. Nickel rose 0.44%. Meanwhile, the ferrous metals rose, except for coking coal. Coke closed nearly 2.4% higher, and rebar gained nearly 0.9%. Iron ore rose 0.85%, and hot-rolled coil edged...Read More
The Vancouver-based project developer says a bench-scale metallurgical study has produced high-purity uranium oxide, or yellowcake, using peroxide and magnesium oxide to produce a product that meets - and in some cases - exceeds market standards. Read More
The Vancouver-headquartered company has received a big boost by way of an endorsement from major precious metals royalty firm Sandstorm Gold Royalties, as well as another undisclosed royalty partner. Both royalty companies have agreed to subscribe for 10 million common shares for an investment of C$2.5 million each, in exchange for a 1% net smelter return royalty on Progress' entire current portfo...Read More
The idea behind MJ Select is not to inundate investors with any and every project out there that needs funding, but rather to provide them with vetted projects they can be certain are worthy of a second look.Read More
SHANGHAI, Jun 14 (SMM) –Copper: Copper prices now struggle around the five-day moving average, as shorts remained cautious in entering the market and longs were keen to close out their positions amid labour negotiations at copper mines. We believe copper still face pressure but may find some support and consolidate at high levels. We expect LME copper to trade at $7,180-7,240/mt today with t...Read More
Mitsubishi already owns 18.1% of the project and will acquire a further 21.9%, while Anglo will retain the remaining 60%.Read More
Owners of the remaining 15% stake, Itochu Minerals and Energy of Australia and Mitsui Iron Ore Corporation, will supply the balance of the overall $3.4 billion capital spend. Work on the South Flank project will include the expansion of the existing infrastructure, the construction of an 80 million tonnes per annum crushing and screening plant, an overland conveyor system, stockyard and trai...Read More
Some high-profile names driving the new project and strategic development focus at Nevada Copper have no doubt been a factor in the growing investor focus on the company.Well-credentialed mine builder and operator Matt Gili, most recently executive general manager for Barrick Gold's flagship Nevada operations, former Rio Tinto CEO Tom Albanese, veteran North American mine-finance figure Ernie Nutt...Read More
Incitec said its Dyno Nobel business had been awarded an explosives products and services supply contract with FMG from July 2018 to December 2023."Dyno Nobel is delighted to be partnering with Fortescue," Incitec managing director and CEO Jeanne Johns said."We have shared values of safety and a commitment to practical innovation."The win comes after Incitec ceased to supply explosives and service...Read More