Tighter copper supply and an increase in refining capacity in top-consumer China should result in lower treatment and refining charges (TC/RCs) by smelters, the chief of Chilean miner Antofagasta told Reuters on Monday.
“The fundamental market conditions are indicative of a deficit and that should mean that the TC/RCs fall. That’s the logic that should prevail,” Ivan Arriagada told Reuters on the sidelines of an event.
Iron-ore has slumped back into a bear market after posting the biggest weekly loss in 16 months amid concern that record demand in China may ease off as mills enact winter output cuts just as data from the top user signals that the economy may be cooling.
Losses have probably been driven by “the realisation that if, as planned, large amounts of steel capacity are taken offline during the winter months, this will mean lower demand for iron-ore,” Caroline Bain, chief commodities economist at Capital Economics, said by email. “August activity and spending data suggested that the Chinese economy is starting to slow.”
IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) anunció hoy que su equipo de asociaciones conjuntas recibió la adjudicación de un contrato de ingeniería, adquisiciones y construcción para el proyecto Spence Growth Option de BHP en la mina de cobre a cielo abierto Spence, en el norte de Chile. La asociación conjunta 50/50 con SalfaCorp es responsable de la producción del concentrador de cobre de 95.000 toneladas por día y las obras asociadas. Fluor registrará su participación en el
China’s mining industry will shrink if the government does not cut it some slack in return for compliance with strict environmental policies, the head of one of the country’s largest gold miners said on Saturday.
“We don’t have friendly policies in this industry,” Chen Jinghe, chairperson of Zijin Mining Group, said during a session at the China Mining conference in Tianjin.
Egypt expects an initial public offering of state-owned oil company ENPPI during the first quarter of 2018, Investment Minister Sahar Nasr told Reuters on Monday, later than initially anticipated.
The minority share offering in oil company ENPPI will be the first in an Egyptian state-owned company in about 12 years.
As far as China’s miners are concerned, the modern-day Silk Road is paved with gold.
Buoyed by a 15% rise in the gold price this year, Chinese mining executives in Tianjin this weekend were talking up their ambitions for overseas expansion.
The International Tribunal for the Law of the Sea on Saturday drew an ocean boundary that appeared to favour Ghana in a dispute with its neighbour Ivory Coast, ruling that Accra had not violated Ivorian rights in drilling for oil.
The decade-old row between the two West African neighbours has slowed the development of Ghana’s $6-billion offshore TEN field which is one of the projects in the contested area of the Atlantic Ocean.
LONDON–(BUSINESS WIRE)–#iron–SpendEdge has announced the release of their Global Iron Ore Procurement Market Intelligence Report.
PITTSBURGH & FREDERICTON, NB–(BUSINESS WIRE)–Evoqua’s ADI wins Bioscience award
PHILADELPHIA–(BUSINESS WIRE)–MSI Capital Partners Invests in Green Diamond Sand Products
HENDERSON, Nev.–(BUSINESS WIRE)–Ireland provides technical update on gold and palladium extraction. Continues final lab extraction testing.
HOUSTON–(BUSINESS WIRE)–‘Game-Changing’ New Research on Prolific Permian Basin Estimates 60 Billion to 70 Billion Barrels Remain, IHS Markit Says
IRVING, Texas–(BUSINESS WIRE)–#Chile–Fluor Joint Venture Awarded BHP Copper Concentrator Mining Project in Chile
Precious metals miner Tahoe Resources has increased its guidance for expected gold output while its flagship Escobal mine, in Guatemala, continues to languish in care and maintenance, despite holding a valid licence to mine.
The Vancouver-headquartered company announced after market close on Thursday that it now expects to produce between 400 000 oz and 450 000 oz of gold in 2017, up from previous estimates of 375 000 oz to 425 000 oz.
On the heels of pouring first gold at its brand-new San Agustin project earlier this week, Mexico-focused miner Argonaut Gold has also increased the pit-constrained resources at its two operating mines, the company has advised.
At El Castillo, the Toronto-based miner added about 328 000 oz of gold, after it acquired the adjacent San Juan concession in February. Subsequent resource expansion drilling programmes, has lifted the compliant measured and indicated resources to about 814 000 oz of gold, the company said.
The materials price index (MPI) from Global Insight by IHS Markit has slipped 0.1% last week, the first decline in four weeks, as metal markets finally began to slide, the firm advised on Friday.
The strength of the last few weeks has been mainly attributable to a surge in metal prices and the aftermath of Hurricane Harvey and its impact on chemicals and energy markets. Indeed, the latter two are still seeing price growth as the longer-run impacts of the hurricane continue to oscillate around markets, the research firm advised.
Bankrupts alluvial diamond miner Rockwell Diamonds advised on Friday that it has received two offers which, when combined, would have been able to buy out the Canadian company’s distressed South African subsidiaries.
However, an untimely motion to place the affiliates into provisional liquidation placed too much pressure on negotiations, causing the deal to fall through.
加ブリティッシュコロンビア州バンクーバー–(BUSINESS WIRE)–（ビジネスワイヤ） — TSXベンチャー取引所上場のカリウム開発・採掘・運営会社であるエンカント・ポタッシュ（「エンカント」または「当社」、TSX-V：EPO）は、1億カナダ・ドルの資金を確保したことを発表いたします。2017年9月15日に締結された資金供与契約（「本契約」）により、GEMインベストメンツ・アメリカLLCとGEMグローバル・イールドLLC SCSは、今後3年間に最大1億カナダ・ドルの投資を行うことを引き受けました。 受取金は、2019年9月の着工を念頭に鉱山のエンジニアリングおよび設計フェーズを開始するために使用されます。マスカワクワン・リソーシズおよびカナダ先住民マスカワクワン族のReginald Bellerose首長とのジョイントベンチャー契約に基づき、エンカントは、鉱山の採鉱権を取得し、予備調査を完了しました。中間段階として、受取金は2016年12月30日に締結された20年間にわたる年間500万メートルトンとのカリ・オフテイク契約に基づく第三者カリの調達と供給のためにも使用されます
不列顛哥倫比亞溫哥華–(BUSINESS WIRE)–(美國商業資訊)–在多倫多證券交易所創業板(TSX-V)上市的鉀礦開發、開採和營運公司Encanto Potash Corp.（簡稱“Encanto”或「公司」）(TSX-V: EPO)欣然宣佈，公司已獲得1億加元的融資安排。根據2017年9月15日簽署的出資協定（簡稱「協定」），GEM Investments America, LLC與GEM Global Yield LLC SCS將在未來三年內投資高達1億加元。 現金收益將用於對礦產專案進行工程改造和設計，預計將於2019年9月開始動工。依據與Muskowekwan Resources Ltd和原住民的Muskowekwan部落首領Reginald Bellerose簽訂的合資協議，Encanto已獲得礦產的採礦權，並已完成初步研究。在過渡期間，依據與National Federation of Farmers’ Procurement, Processing, and Retailing Cooperatives of India Ltd.（簡稱“NACOF”）達成的
不列颠哥伦比亚温哥华–(BUSINESS WIRE)–(美国商业资讯)–在多伦多证券交易所创业板(TSX-V)上市的钾矿开发、开采和运营公司Encanto Potash Corp.（简称“Encanto”或“公司”）(TSX-V: EPO)高兴地宣布，公司已获得1亿加元的融资安排。根据2017年9月15日签署的出资协议（简称“协议”），GEM Investments America, LLC与GEM Global Yield LLC SCS将在未来三年内投资高达1亿加元。 现金收益将被用于对矿产项目进行工程改造和设计，预计将于2019年9月开始动工。依据与Muskowekwan Resources Ltd和原住民的Muskowekwan部落首领Reginald Bellerose签订的合资协议，Encanto已获得矿产的采矿权，并完成了前期调研。在过渡期间，依据与National Federation of Farmers’ Procurement, Processing, and Retailing Cooperatives of India Ltd.（简称“NACOF”）达
More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, it was revealed at the company’s results presentation this week. Creamer Media’s Sashnee Moodley speaks to Mining Weekly editor Martin Creamer about the developments.
CALGARY, Alberta–(BUSINESS WIRE)–Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) today announced that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving its previously-announced plan of arrangement (the “Arrangement”) pursuant to which Northwest Acquisitions ULC (the “Purchaser”), an entity affiliated with The Washington Companies, has agreed to acquire all of the issued and outstanding common shares of the Company for U
ASX-listed gold miner Newcrest Mining has abandoned its 80% stake in the Rahu project, in New Zealand, to joint venture partner New Talisman Gold Mines.
New Talisman on Friday announced that it had acquired Newcrest New Zealand Exploration, with the junior company evaluating its options to fast-track the exploration project.
Russia’s Alrosa has unearthed a pink diamond that the gem giant says could be the most expensive it has ever found.
Alrosa, which produces more stones than anyone else, found the 27.85 ct pink gem at its alluvial mines in Russia’s Far East. The company said the biggest pink diamond it had previously found was less than 4 ct in weight.
Rio Tinto, the world’s second-largest mining company, is focused as much on driver-less trucks and automated drills as conventional shovels and loaders these days. That means it needs a whole lot more high-tech workers.
The London-based company is stepping up efforts to lure engineers and technicians, in part by expanding benefits including family leave. Rio Tinto will now provide 18 weeks of paid time off globally following the birth or adoption of a child, up from as little as six weeks in the US, the company said Thursday. It’s also offering secondary caregivers one week of paid leave.
Coal miner Stanmore Coal’s plan to extend the mine life of its Isaac Plains mine, in Queensland, is progressing well, with no objections recorded for the Isaac Plains East project.
The ASX-listed Stanmore on Friday reported that no submissions or objections were received during the public notification period of the mining lease application or environmental authority amendment application for the Isaac Plains East project.
Platinum group metal (PGM) and chrome co-producer Tharisa Minerals on Friday announced the unconditional purchase of mining equipment from MCC Contracts as part of its switch to owner mining, which includes the employment of 900 MCC employees, effective from October 1. The company, which has until now used mining contractors at its operations, believes the transition to owner mining is the next logical step in its development, the Johannesburg Stock Exchange-listed company said in a release to Creamer Media’s Mining Weekly Online.
DUBLIN–(BUSINESS WIRE)–The “Global Lithium Market – Segmented by Product Type, Applications, and Geography – Trends and Forecasts (2016 – 2021)” report has been added to Research and Markets’ offering. Lithium, owing to its excellent electrochemical potential, catalytic characteristics, and light weight, is becoming an integral part of various commercial and industrial sectors. In the Global Lithium market report, we have taken the following major applications into consideration: Batteries, A
Output cuts by Opec and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a meeting on Friday to review the pact that expires in March 2018. The Organization of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8-million barrels per day (bpd) since January.
Although the global iron-ore market continues to demonstrate better-than-expected fundamentals from a demand perspective, particularly in relation to pricing for higher-quality products, Aim-listed Zanaga Iron Ore remains concerned about the continuing build-up in Chinese iron-ore port stocks. In the company’s half-year report for the six months to June 30, published on Friday, chairperson Clifford Elphick said higher Chinese iron-ore port stocks may have a negative effect on iron-ore pricing through the end of the year if Chinese steel mill consumption slows. Further, the company expects substantial production expansions to enter the market in the second half of the year, with only a small number of these being replacement projects for mines entering the final phases of their lives.
NEW YORK–(BUSINESS WIRE)–Recap of Hurricane Season 2017 news from Business Wire
Diversified major Rio Tinto will spend an additional $2.5-billion on its ongoing share buy-back programme, funded by the recent sale of its Coal & Allied subsidiary to ASX-listed Yancoal.
The capital return programme will be executed through a combination of an off-market buy-back tender, targeting A$700-million of Rio’s shares, with the balance of around $1.9-billion of additional funds allocated to the company’s existing on-market purchase of Rio shares.
VANCOUVER, Columbia Británica–(BUSINESS WIRE)–Encanto Potash Corp. (“Encanto” o la “Compañía”), empresa de extracción y explotación minera de potasio que cotiza en la Bolsa de Capital Riesgo de Toronto (TSX-V: EPO) se complace en anunciar que ha obtenido un compromiso para una línea de financiación de 100 millones de dólares canadienses. En virtud del acuerdo de financiación firmado el 15 de septiembre de 2017 (el “Acuerdo”), GEM Investments America, LLC y GEM Global Yield LLC SCS se comprome
CLEVELAND–(BUSINESS WIRE)–Cleveland-Cliffs Inc. (NYSE: CLF) today said it will be announcing third-quarter 2017 financial results before the U.S.-market open on Friday, October 20, 2017. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Friday, October 20, 2017, at 10 a.m. ET Hosts: Lourenco Goncalves, Chairman, President and Chief Executive Officer Tim Flanagan, Ex
