martes, 3 de abril de 2018

CHARTS: Mining rally running out of steam as copper price weighs

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Mining News Digest
Wednesday 4 April 2018
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Cobalt, nickel still on the boil, but gloomier outlook reflected in copper price and fall in market value of top mining companies during first quarter.

Ramp-up of operations at the Sissingué gold mine was completed ahead of schedule.

Also adding to negative outlook – soaring global warehouse stocks, hedge funds bearish positions at 17-month high and subdued Chinese demand.

Silver Bear's first silver production should be expected early in the second quarter of 2018.

South African engineering and construction group, currently subject of a takeover bid from Germany's ATON, said projects were located in sub-Saharan Africa, North America and Australasia.

Permit allows Oz Minerals to start phase two of construction at Carrapateena copper-gold project, in South Australia, this month.

Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.

The government says mining commitments reached as much as $6 billion since Mnangagwa's appointment.

The blowout in the price spread between Canadian heavy and U.S. light crude isn't narrowing substantially any time soon.

Geopolitical pressure is only able to influence oil prices to such a degree because the market is fundamentally getting tighter.

Caserones said in a statement the rest of the mine remained in operation.

The company expects to be at full mining rates within the coming weeks.

Copper producer Cradle Arc is increasing output to 12,000 tonnes per year at a Botswana mine it has restarted.

It said the leak of non-hazardous iron ore slurry was stopped within eight minutes and caused no disruption to local water supply.

A Canadian company called Leading Edge Materials Corp. is preparing to revive operations.

The news sent the miner's shares plunging 30 percent in London and 20 percent in Warsaw.

New research centre has been established to help reduce the cost of mineral exploration in Australia in order to boost output.

1 Day Spot Gold Price
1 Month Copper Price
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