Новости за 07.01.2019

TSX- and NYSE-listed Osisko Gold Royalties on Monday announced that it had completed an initial investment of C$9.8-million towards its normal course issuer bid (NCIB) for 849 480 shares and that it had repaid $43-million on its revolving credit facility. The share repurchases were completed as an initial investment towards the company’s previously announced intention to deploy up to C$100-million towards purchases under its NCIB.

Fitch Solutions Macro Research, a unit of Fitch Group, expects the global copper market will see a persistent undersupply over the coming years, as global consumption, driven by China’s power and infrastructure sectors and increasingly by rising electric vehicle production, continues to outpace supply growth. It notes in its ‘Outlook for copper demand’ report, that global refined copper demand will outpace production and maintain the market in deficit over the coming year, driven by solid demand... Читать дальше...

TSX-listed eCobalt Solutions has identified the potential to increase the targeted production rate at its Idaho cobalt project to 1 200 t/d from the previously planned 800 t/d. The 50% increase in anticipated production within the updated mine plan should create more resilient project economics that can withstand the volatility of the cobalt market.

Energy company Suncor reported total upstream production of 831 000 bbl/d of oil equivalent for the fourth quarter of 2018. This marked a quarterly production record and represented a 12% increase from the third quarter.

The International Copper Study Group (ICSG) expects copper mine capacity to grow at an average rate of 2.2% a year up to 2021. The ICSG notes in its biannual ‘Directory of Copper Mines and Plants’ that the average is derived from the lower growth of about 0.5% seen in 2018/19 as compared to growth of 4% expected in 2020/21 when more projects and expansions come on stream.

The European Bank for Reconstruction and Development (EBRD) has extended a €25-million ($28.6-million) loan to Bulgarian copper producer Sofia Med, unit of Greek Elvalhalcor, the bank said on Monday. Several banks are extending parallel financing as part of a €85-million long-term joint financing package that will help Sofia Med set up a new research and development unit and develop new higher value added copper products, the EBRD said in a statement.

Chile’s exports of lithium carbonate reached $949-million in 2018 compared to $686-million the previous year as demand and prices for the key component in electric vehicle batteries continues to rise, the central bank said on Monday. The value of exports of the metal from Chile reached $65.8-million in December, compared to a high of $97-million in August, $71-million in November and $45-million in December 2017. The increase represented a year-on-year rise of 46.2%.

Rambler Metals and Mining has applied for a voluntary delisting of the company’s ordinary shares from the TSX-V. Its shares, which are currently listed for trading on the TSX-V and Aim, will continue to trade on Aim where the vast majority of trading activity takes place, the company said on Monday.

NYSE-listed Mosaic Company has acquired the US Army Corps of Engineers 404 permit for its Ona phosphate mine project, in Hardee County, in Florida. The 404 permit was the final remaining permit for the project and secured 160.2-million tonnes of phosphate rock for future mining, the phosphate and potash producer said in a statement.

TSX-listed Leagold Mining Corporation produced 302 550 oz of gold in 2018, in line with guidance of between 295 000 oz to 305 000 oz of gold. It operates four gold mines in Mexico and Brazil.

Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock money manager, who says the precious metal offers an effective hedge. “Recession fears are probably overblown, but I do think we’re experiencing a slowdown,” Russ Koesterich, portfolio manager at the $60-billion BlackRock Global Allocation Fund, said in an interview, citing decelerations in the US, China and Europe. Читать дальше...

Goldman Sachs Group chopped back its near-term metals forecasts as China’s economy has “decelerated notably,” while balancing that outlook with a prediction mainland policy makers will respond by stoking expansion in the second half, aiding a revival in copper and aluminum. The bank – which had been consistently bullish on raw materials heading into 2019 – now sees copper at $6 100 a metric ton in three months and $6 400 in six, down from earlier forecasts of $6 500 and $7 000, according to an emailed report received on Monday. Читать дальше...