Month: May 2019

Glencore lowers 2019 production forecasts for copper to oil

Glencore Plc cut its full-year copper-output goal by about 3% and lowered production targets for other commodities from nickel to oil, as the world’s biggest metal trader deals with multiple problems across its operations. The shares fell. There was no...

/ May 1, 2019

Minera Alamos attracts new coverage

Haywood Securities has initiated coverage of Minera Alamos (TSXV: MAI) with a buy rating and 12-month target price of C$0.40 per share—a 281% return from the junior’s current share price of C$0.11. “Minera Alamos holds two development projects in its...

/ May 1, 2019

Last coal-fired power plant in Massachusetts gone in a few seconds

It took only 10 seconds to implode two 500-foot cooling towers that belonged to the Brayton Point Power Station in Somerset, Massachusetts. The concrete structures demolished last Saturday were the last remains of the last coal-fired plant in the northeastern...

/ May 1, 2019

1,500 trapped miners at Sibanye's Rustenburg mine rescued

About 1,800 workers were trapped at Sibanye-Stillwater’s Rustenburg platinum mine in South Africa earlier today after an accident halted operation of a shaft used to transport workers. The company says 1,500 out of the 1,800 miners that were working the shift...

/ May 1, 2019

Agarwal votes against Anglo American board appointment

Billionaire Anil Agarwal voted against Anglo American’s appointment of a new Brazilian board member, saying the focus should be on South Africa, in a clash between the company’s biggest shareholder and the board. Marcelo Bastos, whose appointment as a non-executive...

/ May 1, 2019

Activists slam South Africa decision to pump water to coal mines

South African environmental groups have challenged the government’s decision to grant permission for a water project which aims to supply developments for its future coal reserves. Authorizing a part of the Mokolo Crocodile (West) Water Augmentation Project, which would pump...

/ May 1, 2019

US has battery problem in race for electric car supremacy

The U.S. push to challenge China’s dominance in the production and sale of electric vehicles has at least one weak link: Most of the raw materials needed to make the batteries are dug elsewhere. Both Chinese and US-based companies have...

/ May 1, 2019

Industry watchdog alleges Northern Dynasty misled investors about Pebble project

An industry watchdog has filed a complaint to U.S. and Canadian securities regulators alleging that Northern Dynasty Minerals Ltd. misled investors about its controversial Pebble mining project in Alaska. Northern Dynasty — whose plan to develop a copper and gold...

/ May 1, 2019

China's metals imports robust despite macro doubts

Industrial metal markets are taking a breather as they await tangible evidence that China’s latest stimulus package is feeding through to a flagging manufacturing sector. April’s purchasing managers indices, weaker than expected but still just in expansion territory, mean the...

/ May 1, 2019

Alphamin begins commissioning Bisie tin mine in DRC

Africa-focused Alphamin Resources (TSX-V: AFM) has begun commissioning its Bisie tin mine in North Kivu, a remote province in the eastern region of the Democratic Republic of Congo (DRC). The Mauritius-based miner kicked off construction at Bisie, considered one of the...

/ May 1, 2019

Societe Generale resigns as London gold and silver market maker

The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France’s third-largest bank pushes ahead with a downsizing of its commodities business. SocGen said this month it would cut 1,600...

/ May 1, 2019