martes, 27 de noviembre de 2018

Iron ore price craters 8%

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Mining News Digest
Tuesday 27 November 2018
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Fears over slowing Chinese growth and impact of trade war with the US removes floor under iron ore price.

The country's state development agency says Albemarle has failed to provide as much as 25% of its annual production at a discount to companies seeking to produce battery metals within Chile, as stipulated in a contract signed in 2016.

Over its almost 18-year mine life, Santo Domingo is expected to produce an average of 134-million pounds a year of copper, 4.2-million tonnes a year of iron concentrates and 17,000 annual ounces of gold.

The company's 20,000-hectare China Stone thermal coal project is expected to produce 38 million tonnes of coal annually.

The company is selling its 69%-stake in Rossing Uranium Limited, which owns the Namibian mine, to China National Uranium Corporation (CNUC).

Farewell Chevy Volt, we hardly knew ye.

In the case of Rainbow Mountain, those in favor of conservation appear to have won out.

If the required steps to fully implement the amended settlement do not take place Crystallex will go back to court to seize assets linked to Citgo.

The skyline of Kirkland Lake changed recently when the 65-metre-tall concrete headframe for Kirkland Lake Gold's new Macassa No.4 shaft was slip formed in just 10 days.

The property, east of Uranium City, returned 10.02% TREO by weight over 3.55 metres.

The inferred resource of 381 million tonnes was based on 98 diamond drill holes Eldorado completed mainly in 2017 and 2018 and a further 17 drill holes by European Goldfields between 2002 and 2004.

The mine is 307 km northwest of the nation's capital of Accra, and is situated along the Sefwi Volcanic Belt, a northeast-southwest trending volcanic belt in western Ghana.

Minister of Mines and Mining Development, Winston Chitando told Reuters there would be "no change" for diamonds and platinum when asked about industry speculation the indigenisation rules could be relaxed further.

China's steel prices tumbled more than 5% to a five-month low as persistent worries over weaker demand pushed the sector into a bear market, sparking a selloff in raw materials iron ore and coking coal.

The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010.

News flow out of the diamond industry in 2018 has been dominated by the progression of lab-created diamond production, distribution and pricing dynamics.

Many of the political uncertainties weighing on commodity markets have a significant chance of being addressed in Buenos Aires.

Rio's interest in the area has sparked a stampede into adjacent lots by other explorers, who see Rio's aggressive activity as an indicator of a highly promising find.

Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from hydrocarbons.

Roscan's Kandiolé project is located in the gold prospective Birimian Rocks of West Mali.

The companies launched 'IBM Exploration with Watson' in Canada.

The alliance strategy saw little success in the Congo.

The proceeds from the financing will be used to fund general working capital requirements and a 2019 drill program at the company's Snowstorm Project located in Nevada.

Participating in this study opens the door for a potential new supply source through recycling electric motors from the transportation industry in the future.

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