The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply. European premiums ease while market finds supply solutions US participants look to 2019 contracts China'...Read More
Quebec miner Stornoway Diamonds is investigating a potential new openpit at the Renard diamond mine, which earlier this year transitioned to underground operations.The new openpit being studied is located at the Renard 4 and nearby Renard 9 kimberlites and will supply ore feed earlier in the mine life. Such a pit, the company said on Wednesday, would allow the extraction of about two-million carat...Read More
Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More
JOHANNESBURG – Anglo American is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia.AdvertisementIn South Afri...Read More
The De Beers Group Designers Initiative is inviting jewellery designers to participate in the 2018/19 Shining Light Awards, which will, for the first time, be open to Canadian participants.The latest edition of this biannual jewellery design competition, which has existed for over 22 years in South Africa and for more than ten years in Botswana and Namibia, will be held under the theme of heroines...Read More
The results of the mid-term elections to the United States Congress may have a palpable effect on aluminium prices globally, although what that effect may be was not immediately clear.As of 8am US Eastern Standard Time on Wednesday November 7, the Democratic Party had won 219 seats in the government's lower House of Representatives, achieving a majority for their party for the first time since 201...Read More
X-ray transmission (XRT) technology has ushered in a new era for diamond recovery, with an increasing number of mining companies embracing the technology and scaling back on the use of conventional technologies, such as dense-media separation, for the treatment of middle- and coarse-sized material, according to engineering and project management consultancy Imilingo Mineral Processing.“The e...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house. European zinc premium rises from 8-year low. Long term zinc and lead contract talks i...Read More
The Lead REACH Consortium has signed a co-operation deal with the European Chemicals Agency (ECHA), designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.The agreement comes as the lead industry waits to see whether four chemical compounds that are irreplaceable in the production of lead batteries will be...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftBezant's Mankayan back in copper-gold spotlightSPONSOREDbezant resourcesKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalGolden Mile has the right stuff: ReynoldsSPONSOREDgolden mile resources The company said this week its 18-month assessment of what it called "best...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe bank increased the target price to £11 (US$14.47) per share from the previous £10/share and also retained the "outperform" rating, noting that copper was still one of its favoured commodities and, as a copper pure play, Antofagasta was poised to benefit from the upside seen in the commodity.Antofagasta's share price fell...Read More
Brazil's Gerdau expects international steel prices to remain at current levels throughout 2019, but is concerned about trade conflict pressure, president and chief executive officer Gustavo Werneck said on Wednesday November 7.Market fundamentals are expected to be supportive for long steel, the company's main product, due to the US Section 232 tariffs leading to increased steel prices in the Unit...Read More
Demand for flat steel in Argentina is expected to show a slight increase in 2019, after this year's financial and economic turmoil in the country, Ternium Siderar general director Mart?-n Berardi said on Wednesday November 7."We need to get through this difficult period, which should last around two to three months," Berardi said in Colombia on the sidelines of the 59th Latin America Steel Confere...Read More
Investors and market participants seem unfazed while bidding the U.S. equities up substantially following the midterm elections which resulted in the Democratic Party now controlling the House of Representatives. Although the Senate remains firmly in control by the Republicans, yesterday's election gave Democrats the needed majority to control the House of Representatives. With one hour left in tr...Read More
Latin American steelmakers are worried about the effects of the Section 232 tariffs imposed on steel imports into the United States, as well as a diversion of steel products to the region and low-priced material from China.Increasing protectionism worldwide was one of the factors behind the slow economic growth in the region, along with currency volatility and uncertainty in Argentina, Brazil and...Read More
(Kitco News) - Kinross Gold Corp. (TSX: K, NYSE: KGC) reversed to a loss in the third quarter as production and gold prices fell, the company reported late Wednesday. Excluding special items, the company listed an adjusted net loss of $48.4 million, or 4 cents per share, a turnaround from adjusted net earnings of $84.1 million, or 7 cents, in the same period a year ago. The net loss was $104.4 mil...Read More
(Kitco News) - Gold and silver prices are slightly higher, but well down from earlier daily highs, in early-afternoon U.S. trading Wednesday. The metals were lifted by a drop in the U.S. dollar index today. December gold futures were last up $2.40 an ounce at $1,228.70. December Comex silver was last up $0.08 at $14.58 an ounce.Tuesday’s U.S. mid-term elections turned out as many had expecte...Read More
The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe."Today's action includes the designation of 50 Iranian banks and their foreign and domestic subsidiaries," the US Treasury Department announced in its report on Monday, along with "the identification of more...Read More