Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.
China Mining News
Analyst Hui Shan said that Goldman’s projections see iron ore falling to $60 a ton in three months, $55 in six and $50 in 12.
Taconite-pellet plants and ore-concentrating firms produced 29 million tonnes last year, down from 33 million tonnes in 2015.
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Slowing demand from China's stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices.
"Stable prices at higher levels have kept gold buying subdued," said Dick Poon, general manager at Heraeus Metals Hong Kong Limited.
Palmer's Mineralogy claimed it is owed money by CITIC's Sino Iron mine in Western Australia over a failure to agree to a formula for calculating the value of the ore extracted at the site following a shift in pricing in the iron ore market.
China's coal imports dropped 21 percent in October as government moves to replace coal with cleaner fuel, iron ore prices followed coal futures higher.
Miner has one of biggest deficit outlooks on back of steel use; firm doesn’t expect material EV impact on nickel until 2020.
The two firms are just the latest names in a long list of companies that includes major players such as Rio Tinto, interested in grabbing a stake in Chile’s Chemical and Mining Society (SQM).
With global diamond demand forecast to grow at approx 3.5% annually over next five years, a supply gap down the line seems inevitable if forecasts hold.
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Russia's gold-trading banks trying to increase presence in Asian markets, especially since demand for Russian gold in European trading hubs slow since 2014.
President Rodrigo Duterte's decision not only ignores demands from pro-mining groups but also from members of his own government, including the current environment minister Roy Cimatu.
Last week Hong Kong Exchanges and Clearing started trading iron ore futures.
Zinc production rose 3.8 percent to 577,000 tonnes year-on-year, while copper was up 6.3 percent at 781,000 tonnes, the data showed.
India’s New Delhi banned the burning of petroleum coke on Nov. 1, part of measures aimed at curbing air pollution, which last week reached 10 times the recommended limits.
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BMI predicts that iron ore prices will remain on a long-term gradual downtrend until at least 2021.
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"We and China Gold will create an attractive financial platform that private investors can take part in and make money," said Alexey Chekunkov, head of fund.
Call options wagering on copper climbing above $10,000 a metric ton by Dec 2018 have started trading during past two weeks, with $4.5m spent by traders.
EuroChem Group AG spending over $6bn on two mines to produce potash, a mineral found deep in the Earth that’s prized for its ability as soil fertilizer.
Global deficit in nickel supply to drop 53,000 tonnes in 2018 from 98,000 tonnes this year, partly due to recovery in Chinese production growth.