China’s iron ore and steel futures climbed on Wednesday after some cities in the north of the country announced an early start to winter restrictions on mill output, though coke and coking coal both continued to fall on worries over faltering demand. The most-traded construction steel futures contract on the Shanghai Futures Exchange closed up 1.74% at 3,679 yuan ($554.27) per tonne, for its biggest one-day gain since Sept. 4.
BEAVER DAM, Wis. & PITTSBURGH–(BUSINESS WIRE)–Evoqua congratulates Berea, OH
Junior explorer Calidus Resources will raise up to A$10-million in a share placement to investors in Australia, Asia and North America.
The ASX-listed company on Wednesday announced that about 243.9-million shares would be issued at a price of 4.1c a share to new and existing institutional and sophisticated investors.
ASX-listed Terramin Australia is hoping to raise up to A$8-million through a share placement to sophisticated investors to advance its Tala Hamza zinc project, in Algeria, to a decision to mine.
The company said on Wednesday that the share placement would be conducted in two tranches, with some 47.6-million shares to be issued at 16.8c each.
PITTSBURGH–(BUSINESS WIRE)–Alcoa (NYSE:AA) plans to announce its third quarter 2017 financial results on Wednesday, October 18, 2017 after the market closes. The press release containing the financial results, and the related presentation materials, will be available on the “Investors” section of Alcoa’s website, www.alcoa.com. A link to the press release will also be on Alcoa’s twitter handle @Alcoa at www.twitter.com/Alcoa. A conference call to discuss the financial results will begin at 5:
ST. CATHARINES, Ontario–(BUSINESS WIRE)–$ALC–Algoma Central Corporation (TSX : ALC) (“Algoma” – www.algonet.com) announced today it has sold Station Tower, an office building located in Sault Ste. Marie. The net proceeds from the sale were $4.4 million. Station Tower is a 61,000 square foot office building consisting of a diverse mix of commercial and professional services offices. As announced on June 27, 2017, the Company has temporarily suspended efforts to sell the Station Mall in Sault Ste. M
ASX-listed Yancoal Australia has exercised a call option to purchase Mitsubishi Development’s 28.9% interest in the Warkworth coal joint venture (JV) for $230-million.
The deal followed Yancoal’s $2.69-bilion acquisition of mining major Rio Tinto’s Coal & Allied subsidiary, which included a 67.6% stake in the Hunter Valley Operations mine, an 80% stake in the Mount Thorley mine and a 55.6% stake in the Warkworth mine, as well as a 36.5% interest in Port Waratah Coal Services, which owns a coal export terminal at the Port of Newcastle.
The Victorian and New South Wales state governments have hit back at claims made by Premier Malcolm Turnbull that the state governments are failing to develop available gas resources, exacerbating the looming gas shortage faced by the Australian east coast.
Turnbull this week urged the New South Wales government to approve the Narrabri gas project being developed by oil and gas major Santos, saying it would add over 58 PJ/y of gas.
Australia-based lithium explorer Novo Litio is preparing for its maiden drilling programme at the Spodumenberget prospect in central Sweden, in keeping with its goal of supplying lithium from Europe, for Europe.
The Spodumenberget prospect, near Örnsköldsvik, has previously yielded high-grade lithium values, including 2.77% Li2O, from spodumene-bearing rock chip samples.
Aim-listed Goldstone Resources is raising £1.5-million to advance the development of its Homase-Akrokerri project, in Ghana. The funds will be raised by way of a subscription for 100-million new ordinary shares at 1.5p a share with new and existing shareholders. The subscription shares will represent about 40.17% of the company’s enlarged issued share capital. Private contract miner BCM Investment (BCM) is subscribing for 50-million of the subscription shares, representing about 20.08% of the company’s issued share capital.
The ball mill shell has been successfully installed at Aim-listed Hummingbird Resources’ flagship Yanfolila project, in Mali, which remains on schedule and on budget for the first gold pour by the end of this year. The installation is a significant milestone in progressing the project to production, with the ball mill having arrived on site in May, the company reported in its unaudited interim results for the six months ended June 30, on Wednesday.
MONTERREY, Mexico–(BUSINESS WIRE)–$CEMEX #CEMEX–CEMEX announced expiration and settlement of its tender offer for any and all outstanding 9.375% notes due 2022
LSE- and Nasdaq-listed Afarak Group will, through its South African subsidiary Afarak Mining Limted, acquire a 70% interest in Zeerust Chrome Mine (ZCM) from Afrika Mineral Trading & Investment Trust, for R20-million. The remaining 30% interest in ZCM will be allocated to workers, the community and other black economic empowerment partners.
Australian iron-ore miner Roy Hill Holdings Pty Ltd has the ability to expand its production capacity beyond the 55-million tonnes it has targeted, its chief executive said on Wednesday.
Roy Hill, controlled by Australian billionaire Gina Rinehart, is closing in on that 55 million tonnes a year goal as it expects to export at least 4.6-million tonnes this month from Australia’s Port Hedland, Barry Fitzgerald said on the sidelines of an industry conference in China.
The Chamber of Mines of South Africa (CoM) said on Wednesday that it would join Business Unity South Africa and Business Leadership South Africa in support of the Congress of South African Trade Unions (Cosatu) stance against State capture and corruption. Thousands of workers and civil society organisations were expected to take to the streets in 13 cities and towns on Wednesday in a nationwide strike against corruption and State capture led by Cosatu, the country’s largest trade union federation.
China’s rising middle class and a growing machinery sector will counter any weakness in steel demand in construction over the next decade, an official at Australian iron ore miner BHP Billiton said on Wednesday.
Population in China, the world’s top consumer of steel and its raw material iron ore, is expected to grow by another 250-million over the next 20 years and “a rising middle class will be looking to upgrade to bigger apartments, to better apartments,” Virginia Wilson, general manager iron ore marketing, told an industry conference.
Botswana Oil will choose by December a company to build and operate a $4-billion coal-to-liquids (CTL) plant, a facility it said may meet as much as 80% of the Southern African country’s fuel demand. The state-owned oil firm received 11 bids by its August deadline and is subjecting them to “highly technical assessments,” spokesperson Matida Mmipi said Monday by phone from the capital, Gaborone. She declined to name any of the companies competing for the tender.
Germany’s Volkswagen is moving to secure long-term supplies of cobalt, a vital component of rechargeable batteries, as the group accelerates its ambitious shift to electric cars. Cobalt industry sources told Reuters that VW, the world’s largest automaker, has asked producers to submit proposals on supplying the material for up to 10 years from 2019.
To successfully break out of the more than four-decade-long nationalisation of the coal industry, the Indian government will ease rules for the auctioning of ten coal blocks. To open up commercial mining of coal to private miners, the government will neither be setting a minimum reserve price, nor will there be any net asset value of the coal blocks to be put up for bidding.
TSX- and JSE-listed Atlatsa Resources is still not in a position to file its unaudited interim financial statements for the three and six months ended June 30, the related management’s discussion and analysis and the related CEO and CFO certificates by the filing deadline. In a required bi-weekly default status report, the company on Tuesday said it was not certain as to when it would be able to finalise its financial statements and related disclosures as it continued its financial restructure plan with Anglo American Platinum (Amplats).
Responding to the Indian government’s invitation for comment on the draft National Mineral Policy (NMP), mining companies have indicated they want compensation for delays in the granting of mandatory government approvals.
Seeking a time-bound grant of the approvals, industry has said that a mining leaseholder should be compensated for delays “beyond reasonable causes”.
South Africa-focused Coal of Africa Limited (CoAL) has reported resources and reserves of 26.9-million-tons at its recently acquired Uitkomst Colliery.
The company also said on Tuesday that it would apply to have the project’s new order mining right extended from October 2023 to align with the colliery’s remaining 17-year mine life.
Advanced materials producer Neo Performance Materials, carved from the remains of bankrupt Molycorp, is weighing an initial public offering (IPO) or an outright sale, according to people familiar with the matter.
Neo Performance, backed by investment firm Oaktree Capital Group, has not determined which avenue it will pursue but is expected to file for an IPO next month, said the people, who asked not to be identified because the matter is private.
Is it finally time to get excited about nitrogen fertiliser?
Since the end of June, prices for the world’s most commonly used crop nutrient have soared 60 percent in the US – rebounding from the lowest levels in more than a decade. There have been similar moves in Brazil, India and the Middle East as some major consumers unexpectedly boost purchases.
In the final stages of construction of the $126-million Cerro Moro construction project, in Santa Cruz province of Argentina, Canadian gold major Yamana Gold has locked up about 60% of gold output in hedge contracts.
The Toronto-based miner said on Monday that it needed to secure certainty of cash flows during the periods of completion of construction, commissioning and start-up of Cerro Moro, prompting the company to enter option contracts relating to some of its gold and copper output.
Chile’s stock market has priced in a victory of conservative presidential candidate Sebastian Pinera, even though progressive candidates could form an alliance in a December runoff, traders and analysts said.
The IPSA stock market index has surged 27% this year and is on track for its best year since 2010, spurred by a rebound in prices of top-export copper and polls that have shown Pinera ahead in the race.
New York-based Paulson & Co, led by longtime gold bull John Paulson, called on Tuesday for the world’s biggest investors in gold-mining stocks to form a coalition to tackle miners’ “dreadful” performance as it launched a blistering attack on the industry’s track record.
Speaking at the Denver Gold Forum, the industry’s top annual event, Paulson & Co partner Marcelo Kim said the hedge fund was looking for fellow founding members for a body to speak out on issues including high executive pay, cozy board appointments and value-destroying mergers and acquisitions.
Project developer Alderon Iron Ore has settled a dispute with Newfoundland and Labrador Hydro regarding a C$21-million letter of credit it posted for the construction of a new transmission line to the Labrador West area.
Under the settlement, Alderon subsidiary the Kami Mine Limited Partnership will receive a C$11.5-million refund, plus accrued interest, as well as a C$750 000 restart credit should it decide to proceed with the flagship Kami project within the next five years.
ASX-listed miner Universal Coal expects its output to increase from 3-million tonnes in 2017 to to 4.5-million tonnes in 2018, as its Kangala and New Clydesdale mines, in South Africa, reach steady-state production. Earnings before interest, taxes, depreciation and amortisation are also expected to increase by about 80% in 2018, to A$45-million, based on current international coal prices and foreign exchange forecasts.
British Columbia is ‘ground zero’ for mining in Canada, as technological advances require an ever-increasing volume of metals to satisfy improving standards of living and environment-friendly technologies.
This was the key message attendees at the fourth annual Resource Breakfast Series heard on Tuesday morning, in Vancouver.
he Australian Securities Exchange (ASX) has warned that it could temporarily suspend the share trading of Western Australian gold producers if the state government’s plans to increase gold royalties were passed through Parliament.
The Australian on Tuesday reported that the ASX would repeat the steps it took earlier this year when more than a dozen resource company stocks were suspended after the Tanzanian government introduced an overhaul of its royalty and tax regime, allowing the affected miners to update the market on the impact of the royalty changes to their operations.
Mineral sands developer Sheffield Resources has signed its second binding offtake agreement over its Thunderbird mineral sands project, in Western Australia.
The agreement with India’s largest ceramic raw materials supplier Sukaso Ceracolors Ceramics provides for a minimum supply of 12 000 t of premium zircon for an initial five-year period, with yearly contract extensions thereafter.
Graphite developer Kibaran Resources has produced battery-grade graphite at its Epanko project, in Tanzania, using a graphite purification method that is considered environmentally friendly.
The ASX-listed company told shareholders this week that the new process used simple acids that were readily available in Tanzania, and did not use hydrofluoric acid, which was currently used by all producers of battery spherical graphite.
Chinese zinc imports for August has increased 145% year-over-year to 227 000 t, according to Metal Bulletin and Chinese Custom Data released early on Tuesday morning.
Scotia Mining Sales noted in a report to clients that this is not surprising given the Shangai Futures Exchange and London Metals Exchange (LME) zinc price arbitrage was wide open from mid-May to the end of June, and again it has been open since mid-August.
ASX-listed Rift Valley Resources ahs reported a maiden Joint Ore Reserves Committee Compliant mineral resource of 44.7-million tonnes, grading 2.5% total rare earth oxides at its Longonjo Magnet metals project, in Angola.
Some 11.6-million tonnes of the resource was classified as oxide material, with the remaining 33.2-million tonnes classified as fresh material.
