* Codelco signs large supply deals with major clients* Asia including China accounts for about 50 percent of sales* Copper price down 20 percent from JuneLONDON/BEIJING - Chilean state miner Codelco has agreed to sell France's Nexans, China's Minmetals and U.S.-based Southwire 50,000 to 100,000 tonnes of copper each from 2019 to 2021 in rolling deals known as "evergreens", sources close to the mat...Read More
One little-known company already has the key to efficient, high-quality, low-cost cannabis production.Cannabis 2.0 is coming.And it's going to be huge. With huge margins and international attention...The cannabis sector is poised to explode. Some analysts are predicting that the industry will reach $500 billion. With stakes that high, only the most efficient and competitive cannabis players will...Read More
More than half of the copper mines in Zambia, Africa's second-biggest producer of the metal, will probably be unprofitable next year with thousands of jobs on the line, as the nation raises taxes for operators, the country's biggest industry lobby group said.The effective tax rate will range from 86 percent to 105 percent, with about 27,900 jobs at risk, the Zambia Chamber of Mines said in a state...Read More
More than half of the copper mines in Zambia, Africa's second-biggest producer of the metal, will probably be unprofitable next year with thousands of jobs on the line, as the nation raises taxes for operators, the country's biggest industry lobby group said.The effective tax rate will range from 86 percent to 105 percent, with about 27,900 jobs at risk, the Zambia Chamber of Mines said in a state...Read More
Precious gemstones miner Gemfields (JSE: GML) has announced that the Zambia Revenue Authority (ZRA) has cleared its Kagem emerald mine following a probe into alleged tax evasion.During an unannounced visit in August, the ZRA seized documents and files including those allegedly used to evade payment of Value Added Tax (VAT), income tax, with-holding tax and other taxes.Probe was part of a wider eff...Read More
Precious gemstones miner Gemfields (JSE: GML) has announced that the Zambia Revenue Authority (ZRA) has cleared its Kagem emerald mine following a probe into alleged tax evasion.During an unannounced visit in August, the ZRA seized documents and files including those allegedly used to evade payment of Value Added Tax (VAT), income tax, with-holding tax and other taxes.Probe was part of a wider eff...Read More
Precious gemstones miner Gemfields (JSE: GML) has announced that the Zambia Revenue Authority (ZRA) has cleared its Kagem emerald mine following a probe into alleged tax evasion.During an unannounced visit in August, the ZRA seized documents and files including those allegedly used to evade payment of Value Added Tax (VAT), income tax, with-holding tax and other taxes.Probe was part of a wider eff...Read More
Eurasian Resources Group ("ERG" or "the Group"), a leading diversified natural resources group, is pleased to announce the launch of its Clean Cobalt Framework ("the Framework") at Metalkol RTR as part of ERG's commitment to ensure sustainable cobalt production. Metalkol RTR is fundamental to the development of ERG's operations in the DRC and the driver for the Group's plans to increase its cobalt...Read More
Stock futures have gradually moved lower, hinting at potential weakness at the openDow Jones Industrial Average (DJI) futures are trading slightly below fair value, with stocks still on shaky ground after sliding to new lows yesterday. While traders will certainly continue to consider the Fed's actions, there's also plenty to watch on the earnings front. Namely, Dow stock Walgreens Boots Alliance...Read More
Fixes story to reflect the indexes for new orders and employment increased. Getty Images A view of U.S. Steel Edgar Thomson Steel Works along the Monongahela River, March 10, 2018 in Braddock, Pennsylvania. The numbers: The Philadelphia Fed manufacturing index in December fell to a seasonally adjusted reading of 9.4, from 12.9 in November to reach the lowest level since August 2016. Any read...Read More
American engineering company Bechtel, ranked #11 on Forbes' America's private company list for 2018, announced this week that it opened the Bechtel Mining & Metals Innovation Center in Chile with the goal of developing new technologies that boost productivity, promote environmental sustainability and improve worker safety for the copper industry.In a press release, Bechtel said that the cente...Read More
American engineering company Bechtel, ranked #11 on Forbes' America's private company list for 2018, announced this week that it opened the Bechtel Mining & Metals Innovation Center in Chile with the goal of developing new technologies that boost productivity, promote environmental sustainability and improve worker safety for the copper industry.In a press release, Bechtel said that the cente...Read More
An Australian Independent Planning Commission approved a modified version of Clean TeQ's Sunrise nickel-cobalt-scandium project, located in New South Wales' central west area. According to Clean TeQ, Sunrise is one of the highest grade and largest nickel and cobalt deposits outside of Africa and one of the largest and highest grade scandium deposits in the world.The new version of the proposal inc...Read More
Joint venture partners AngloGold Ashanti (JSE:ANG) (NYSE:AU) and Independence Group (IGO) said Thursday a pre-feasibility study shows underground mining at their Tropicana gold mine in Western Australia is technically and financially viable.As an underground mine, Tropicana could produce around 100,000 ounces of gold a year for about seven years.Once converted into an underground mine, Tropicana...Read More
Vancouver, BC - IsoEnergy Ltd. (TSX-V: ISO | OTCQX: ISENF) (the "Company" or "IsoEnergy"), is pleased to announce that it has completed its previously announced private placement on a "bought deal" basis for total gross proceeds of approximately $5.5 million, an increase over the originally announced $4.5 million base deal due to strong demand for the Offering (as defined herein).The Company has...Read More
Shares in Australian lithium miner Orocobre (ASX: ORE,TSX: ORL) dropped Thursday after it said that prices received for its output dropped in the half of its fiscal year ending in December, and noted it didn't expect a significant improvement in the short term.The Brisbane-based producer of lithium carbonate, used in the making of batteries that power electric vehicles, expects to obtain an aver...Read More
Significant intercepts include 10.4 m grading 11.9 g/t Au and 16.2 m grading 6.7 g/t Au TORONTO , Dec. 17, 2018 /PRNewswire/ - Golden Star Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE: GSR) (Read full newsRead More
A steel trade group argued that the statute under which the US Section 232 tariffs on steel and aluminum imports were issued was unconstitutional, according to oral arguments during a US Court of International Trade (CIT) hearing on Wednesday December 19. The American Institute for International Steel (AIIS) alleged that the statute violates the constitutional prohibition against Congress delegati...Read More
The US Department of the Treasury's Office of Foreign Assets Control (OFAC) plans to remove sanctions against UC Rusal and En+ Group in 30 days due to significant restructuring and corporate governance changes, it said in a notice.Russian oligarch Oleg Deripaska will remain sanctioned, however, and his property will remain blocked."Treasury sanctioned these companies because of their ownership and...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Wednesday December 19, reflecting a continued retreat in the dollar index The three-month copper price climbed 0.7%, ending back above $6,000 per tonne. In a quiet trading day, 16,200 lots of copper changed hands. In supply-side news, judges earlier this week ordered the reopening of Sterlite Copper's Tut...Read More