Новости за 29.06.2020

Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6 000 a metric ton last week for the first time since the Covid-19 outbreak became a global pandemic. Prices have rallied steadily over the past three months, fueled by sentiment over consumption prospects as... Читать дальше...

Physical RB1 had another tough week, with at least one cargo going through at around $48/mt. Although Chinese utilities are restocking, they are having to use domestic coal as they lack import quotas from government. This is a trend that the Chinese government wants to see strengthening as it has spent significant cash building out the logistics infrastructure to supply coastal utilities. Filling the hole left by Chinese demand destruction is an almost impossible task, and will affect mainly Indonesian and Australian suppliers... Читать дальше...

Of the nearly 1.08-billion tonnes of copper resources discovered since 1990, only 8% is contained in deposits discovered in the past decade, a report published by S&P Global Market Intelligence shows. The report outlines that 224 copper deposits have been discovered between 1990 and 2019 period, containing 1.08-billion tonnes of copper in reserves, resources and past production.

House Democrats on Tuesday will issue an ambitious plan to combat climate change, a move intended to reassure their base of supporters but that’s sure to inflame opponents on the right. The proposal will be released at an event at the US Capitol with Speaker Nancy Pelosi and several other Democratic lawmakers. In a statement announcing Tuesday’s unveiling, the committee offered no details on the plan but called it “a comprehensive congressional action plan to solve the climate crisis.” A spokesman... Читать дальше...

Aim-listed Trident Resources has acquired a gross revenue royalty (GRR) over production from Moxico Resources' Mimbula copper mine, in Zambia, as well as over associated stockpiles, for $5-million in cash. Trident is entitled to royalty payments on production starting from July 1 and extending in perpetuity.

Zinc prices are likely to edge higher in the next three to six months, as the negative shock to global demand from the Covid-19 outbreak lessens, says financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research. Support for prices, it notes, will come from a gradual recovery in demand for zinc from the steel sector as mills ramp up production. The company notes that the latest data from the World Steel Association suggests that the worst of the contraction in global steel production has passed... Читать дальше...

Morocco-focused potash development company has appointed Graham Clarke as its new CEO, effective from July 1. Clarke is an experienced fertiliser industry executive with 26 years’ experience in underground potash mining and a proven ability to attract talent and build operating teams with the capability to deliver large, complex projects in the fertiliser space, Emmerson said on June 29.

TSX-V- and Aim-listed Altus Strategies has signed a nonbinding term sheet with TSX-V-listed Stellar Africa Gold for the sale of its Prikro and Zenoula gold project, in Côte d'Ivoire. Altus will receive an initial payment of 2.5-million Stellar shares, with a market value of about C$87 500, and 2.5-million share purchase warrants.

Following a strategic review into its capital structure options, London-listed Petra Diamonds has decided to seek offers for the company or for parts of the business’ assets. Petra started a strategic review of its capital structure options on March 27 to explore available options available to settle an outstanding senior secured loan note of $650-million, which is due for repayment by May 1, 2022.

The government of Mongolia and copper miner Turquoise Hill have reached an agreement on the preferred domestic power solution for the Oyu Tolgoi copper project, paving the way for the government to fund and construct a state owned power plant at Tavan Tolgoi. The agreement, which is a revision of the power source framework agreement (PSFA) signed in 2018, states that the parties would work towards finalising a power purchase agreement by the end of March 2021, major Rio Tinto said over the weekend.