The U.K.'s financial regulator has added a small diamond pricing firm to its roster of companies managing market benchmarks, opening the way to making the precious stones a more investable asset.The Financial Conduct Authority has authorized U2 Diamond Prices Ltd. as a benchmark administrator, joining firms such as FTSE International Ltd. and ICE Benchmark Administration Ltd. The move will allow f...Read More
The Ugandan government is making another attempt to reopen a defunct copper mine estimated to contain 4 million tonnes of ore, it said on Tuesday, and several international firms have expressed interest in the project.Once a major producer of copper and cobalt, Kilembe was abandoned by Canadian firm Falconbridge in the 1970s when Uganda's economy stagnated under the erratic leadership of dictator...Read More
German auditing firm T?oeV S?oeD AG said on Tuesday it appointed a former Petroleo Brasileiro SA executive to head up its Brazilian subsidiary, changing leadership after a dam certified by the firm burst in January and killed hundreds.Jo??o Elek, former governance and compliance officer at Petrobras, became chief executive of the Brazilian subsidiary of T?oeV S?oeD on April 1. He takes over from i...Read More
One group of Canadian oil producers is gaining from the output cuts imposed by Alberta: the small explorers.The local wildcatters that pump light crude far from the giant oil-sands mines of northern Alberta are getting a big price boost from the curtailments announced at the start of December, without the headaches. Many of them are exempt from the cuts and they sell most of their oil locally, so...Read More
Australia is joining the growing number of nations looking to compete in space, from launching micro satellites that track sheep to mining water on the moon. Its advantage? Half the country already looks like Mars.With advances in technology and the falling cost of launch slots, the fledgling Australian Space Agency, set up last year, is taking a commercial approach to extra-terrestrial ventures....Read More
Global miner Glencore and Japan's Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for the year through March 2020, a source with direct knowledge of the matter said.The price, which serves as an industry benchmark for supplies of seaborne thermal coal in Asia, was 14 percent lower than a price agreed for supplies for the year through Septembe...Read More
Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the likely temporary weather-related disruptions from Australia and the rather more serious safety outages in Brazil.A major tropical cyclone hitting the main producing and shipping areas in the world's largest iron ore miner was always likely to boost prices, and indeed, markets largely...Read More
Korea Zinc Inc and Teck Resources Ltd have agreed annual concentrate treatment charges of about $245 a tonne, 67 percent higher than last year, as mine supply ramps up, two industry sources said.The two companies are major players in the metals sector, and their agreement on yearly processing charges often establishes a benchmark widely used throughout the industry.World mine production of zinc -...Read More
Nickel miner PT Vale Indonesia is targeting to produce around 74,000 tonnes of nickel in matte in 2019, slightly lower than last year's production, president director Nico Kanter said on Tuesday.Lower production this year is due to a 10-week shutdown started in mid-February to the third week of April to conduct maintenance at furnaces and the power plant at its smelter in Sorowako, said director B...Read More
IBM and Sandvik Mining and Rock Technology announced this week that they are joining forces and launching OptiMine Analytics, a solution that transforms data into process improvements via predictive insights and actionable dashboards embedded into operation management systems.In a press release, the companies said that the technology is particularly useful when it comes to dealing with failing equ...Read More
Canadian junior Frontier Lithium (TSX-V: FL) has kicked off the first phase of development at its PAK lithium asset, aimed at confirming the project's economic viability through the construction and operation of a Demonstration Concentrator Plant that will produce multiple products for the industrial and battery markets.The plant is expected to produce up to 15,000 tonnes of lithium concentrate (...Read More
The Royal Canadian Mint announced this week the launching of three new bullion coins targeted at precious metals investors.In a press release, the institution said that the pieces include double-incuse Gold and Silver Maple Leaf bullion coins and its newest 99.999% pure gold "Call of the Wild" bullion coin, which features a moose."Call of the Wild" bullion coin. Photo by the Royal Canadian Mint."T...Read More
With a critical reclaimer in need of planned maintenance, engineering and planning were key to getting the equipment back up and running in under 14 days.Minera????o Rio do Norte (MRN) is Brazil's largest producer of Bauxite, the raw material for aluminum. In 2017, the mine delivered a total of 16.3 million tons of material. The bauxite is extracted at the mine in Porto Trombetas (PA), where it...Read More
LIMA (Reuters) - Eight men suffocated in an unauthorized gold mine in Peru after a tunnel they dug began spewing noxious fumes, local media reported on Sunday. Cesar Rondo, the only miner who survived the disaster, told local broadcaster RPP that the group became dizzy and suffered headaches in the tunnelRead full newsRead More
Canadian miner First Quantum Minerals (TSX:FM) is planning a $327 million expansion of its already massive mining and processing complex in Panama, the largest copper mine coming to market over the next couple of years and the biggest single private sector investment in the nation's history.According to an updated technical report for Cobre Panama, located about 120 km west of Panama City and...Read More
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In the following interview excerpt, iron ore expert Matt Simpson, co-founder and CEO of junior Black Iron (TSX: BKI; US-OTC: BKIRF), explains the new landscape for iron ore markets worldwide in the wake of Vale's horrific tailings-dam disaster near Brumadinho in Brazil, which has resulted in 10% of the world's iron ore pellet production being removed from the market.Matt SimpsonBefore heading up B...Read More
Editor’s Note: This story was previously published in February, 2019. It has since been updated and republished.The 2018 midterm elections made clear that Americans preferred legalization over the continued prohibition of pot, which should bolster the case for the top marijuana penny stocks.When residents in California voted for full recreational weed, it boded well not just for marijuana pe...Read More
Alamos Gold (TSX: AGI; NYSE: AGI) will sell a portfolio of 18 royalties on assets not owned by Alamos to Metalla Royalty and Streaming (TSXV: MTA; MTAFF) for US$8 million in Metalla shares.The portfolio includes a 2% net smelter returns royalty (NSR) on Agnico Eagle Mine's El Realito gold deposit, adjacent to its La India mine in Sonora, Mexico, plus 1.5% and 1% NSRs on Monarch Gold's Wasamac gold...Read More