Month: December 2018

BHP, Rio, Vale stock bested Apple, Google, Facebook in 2018

After a strong start to 2018, the value of the world’s largest mining stocks began turning down well before summer as worries about a China–US trade war continued to mount. Even before the Trump–Xi tariff battles began, fears of a...

/ December 28, 2018

Rio Tinto says no job cuts in 2019 due to driverless train project

Dec 28 (Reuters) – Australian mining company Rio Tinto Plc said on Friday it does not expect to cut jobs in 2019 even though it has deployed automated heavy-haul trains to cut costs. The $940 million rail project, AutoHaul, is...

/ December 28, 2018

China copper smelters raise TC/RC floor for Q1 2019

China’s top copper smelters on Thursday raised their floor treatment and refining charges (TC/RCs) for the first quarter of 2019 by 2.2 percent, sources with knowledge of the matter said. At a meeting in Shanghai, the 10-member China Smelters Purchase...

/ December 28, 2018

Year’s best major metal gains steam as supply eclipses trade woe

The U.S.-China trade war that’s ravaged most commodities failed to dent 2018’s best-performing major metal. Many analysts don’t see much standing in the way of further gains in 2019. Shortages of palladium sent prices of the commodity used in autocatalysts...

/ December 28, 2018

Teck Resources invests in Sun Metals’ British Columbia Stardust project

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced this week that it has acquired 12,500,000 common shares of Sun Metals (TSX.V: SUNM) a Vancouver-based mineral exploration company. The shares were acquired for an aggregate purchase price of...

/ December 28, 2018

China's industrial profits suffer first drop in 3 years, piles pressure on economy

Earnings at China’s industrial firms in November dropped for the first time in nearly three years, as slackening external and domestic demand left businesses facing more strain in 2019 in a sign of rising risks to the world’s second-largest economy....

/ December 28, 2018

Human activity creates 208 new mineral species

(This article first appeared May 2017) Nealite [Pb4Fe(AsO3)2Cl4·2H2O] From an ancient slag site in Greece, formed by slag meeting seawater. Credit RRUFF. For the first time, more than 200 mineral species have been identified that originated either principally or exclusively...

/ December 28, 2018

Lithium, potash producers lead miners amid stocks surge

All three major US equity indexes gained at least 4% on Wednesday, with the S&P 500 and Dow Jones closing just short of a 5% surge. It’s the first time that has happened since 2011, according to Bloomberg. Major mining...

/ December 27, 2018

Japan's Sumitomo Metal sees global nickel deficit nearly halving in 2019

A global nickel market deficit will nearly halve to 49,000 tonnes in 2019 from 93,000 tonnes this year on higher output of primary metals by global suppliers and of lower-grade nickel pig iron (NPI) in Indonesia, Sumitomo Metal Mining said...

/ December 27, 2018

Trump's EPA to maintain Obama-era coal plant curbs, with a twist

The Trump administration is poised to propose maintaining Obama-era restrictions on mercury pollution from power plants, responding to opposition from electric utilities that have already spent billions of dollars to meet the requirements. At the same time, the Environmental Protection...

/ December 27, 2018

Life-blood of Tesla batteries hits supply limits in Andean mine

For the past nine months, a U.S. company that is the world’s largest producer of lithium — a key ingredient in electric-car batteries — has been locked in battle with the Chilean government over pricing issues, production quotas and environmental...

/ December 27, 2018

Russia's Nornickel terminates agreement with Botswana's BCL on asset sale

Nickel and palladium producer Norilsk Nickel (Nornickel) has terminated an agreement to sell its African assets to Botswana’s state-run BCL Group, the Russian company said in a statement. BCL was expected to buy a 50% stake in Nkomati Nickel mine...

/ December 27, 2018