martes, 18 de julio de 2017

BHP iron ore output hits new record but copper production tanks

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Mining News Digest
Wednesday 19 July 2017
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World number one miner's Pilbara mines produce 268m tonnes for the year, but strike at Escondida sees copper output slide 16%.

JP Morgan: "We think the second-half 2017 fundamental outlook for zinc looks less supportive, easing supply constraints and questionable demand strength."

From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.

Blair Athol thermal coal mine, located in Queensland, Australia, had been closed since 2012 when former owner Rio Tinto shut down operations after almost 30 years of production.

It also revised down its expected share of hard coking coal for the year to between 7.2 to 7.8 million tonnes from 7.8 to 8.4 million tonnes.

Low oil prices are still causing big problems for many countries

South Africa's Anglo American Platinum (Amplats) expects half-year profits to fall by as much as 67 percent due to a stronger rand, lower sales and post-tax impairments, the company said on Tuesday.

The two remaining components of the Kibali gold mine – its underground shaft system and third hydropower plant – are both on track, Randgold Resources chief executive Mark Bristow said today.

OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia's Manifa problems grabbing the headlines.

The next several years will be critical to the development of the Canadian LNG industry.

Oreninc Index falls as gold shows signs of rally.

Big winners will be aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium.

New report shows lead swinging into 91,000 tonne deficit and zinc undersupply increasing by a third to 178,000 tonnes during first five months of 2017.

1 Day Spot Gold Price
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