Standard & Poor's has raised its metals price assumptions for 2011 and beyond, citing the increased volatility of the markets but worries about sharp risk of fall in investor demand for gold.
Zinc Mining News
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies.
No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We […]
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies. He argues that it was perhaps inevitable that […]
Selwyn Resources today announced that it has closed the third tranche of its Special Warrant offering through Paradigm Capital Inc. as lead agent on behalf of a syndicate including Canaccord Genuity Corp., raising an additional CAD$990,000 from the sale of 3,960,000 Special Warrants. With the closing of the third tranche Selwyn raised a total of CAD$12,784,500, and had earlier completed the acquisition of ScoZinc Limited.
Chieftain Metals has initiated an important step in its 2011 operations plan by transporting heavy machinery and equipment via barge to the Tulsequah Chief mine site in north-western British Columbia.
Drilling results suggest to Selwyn Resources (TSX-V: SWN) that two key, high grade zones of zinc-lead mineralization may be connected at its namesake project in the Yukon, a joint-venture between it and Yunnan Chihong Zinc and Germanium. Two drillholes collared at the Don deposit hit thick intercepts rich in zinc-lead mineralization. Hole 180 cut 30 metres @ 9.27 percent zinc and 3.48 percent lead, while nearby hole 192 returned as much as 43 metres @ 8.94 percent Zn and 3.16 percent Pb. The drillholes respectively started 642 and 586 metres downhole.
Profit margins for the world's top 40 mining companies are below the historical peaks of 2006 and 2007 as higher costs outweigh record commodity prices, PricewaterhouseCoopers said on Tuesday. Revenues for the world's 40 largest […]
Standard & Poor's expressed concerns Wednesday that record commodity prices could represent an "unsustained bubble, subject to a sudden correction."
Let me begin by saying that I believe the premise of this question is mistaken. It is quite incorrect to think that fossil fuel resources are finite. It may be true that there is a finite quantity of such resources in the earth's crust, but that does not mean that we will ever run out.
Iberian Minerals announces purchase of net profit interest from Trafigura and $62 million “bought deal” financing
Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that it has determined to exercise its right to purchase from Trafigura Beheer B.V. its 45.96% net profit interest in Compania Minera Condestable S.A. ("Condestable"), which is the subsidiary through which Iberian holds its approximately 98.73% interest in the Condestable Mine. In accordance with the terms of the CMC Purchase Agreement, Iberian retained the option to purchase the NPI from Trafigura at any time until June 30, 2011 in consideration of the payment of US$60,000,000 (the "NPI Buy-out").
Adroit Resources listed on the TSX Venture exchange on Monday announced the receipt of a Mobile Metal Ions Process Soil Geochemical Survey report on the Grassy Lake portion of the Red Vein Volcanogenic Massive Sulphide (VMS) property. President's comments: "I am very pleased with the contents of the MMI Report. The report strengthens management's belief that this property will yield a valuable commercial discovery. The detection of a geochemical signature for Platinum Group Mineralization has certainly come as an exciting surprise."
Zinc, also known as spelter, is a metallic element which is used all across modern communities. Aside from being an important industrial metal, the commodity is also an important mineral to the human body, as a zinc deficiency can cause major health problems.
A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces. The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."
A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."
The Rasp underground mine in the heart of one of Australia' most historic mining centres -- Broken Hill's Line of Lode -- should be operating by April next year. Development of the Rasp mine on Central Mining Lease 7 is in one of the most intensely worked areas between the Perilya Ltd North and South mining leases and it had a stop-start scenario with the big stall being when the zinc price crashed in during the global financial crisis.
Reuters Africa reports Exxaro (JNB:EXX) has invited bids for the company’s stake in a zinc and lead mine in Namibia. The market news is quoted as saying: The assets up for sale include Exxaro’s 50.04 percent stake in the Rosh Pinah mine and its wholly owned Zincor refinery.
To hear the mainstream media tell it, the commodities bubble has burst. Commodities are plunging across the board in response to the latest U.S. data, most of which seems to suggest that the American economic recovery is waning. Oil, which closed at $100 a barrel yesterday, was particularly hard hit, which is why so many suggest the commodities bubble has met its end.
Latin America used to be known for its economic and political instability. But it fought off the global financial crisis with relative ease. Poverty is now falling, the middle classes are growing rapidly and asset […]
Levon Resources announced that it has today closed a previously announced financing pursuant to which the Company has issued 20,600,000 common shares at a price of $1.95 per share for gross proceeds of $40,170,000. The company intends to use the net proceeds of the Offering for continued exploration of the Cordero property located in Chihuahua, Mexico, and for working capital.
Scorpio Mining reports record silver production in Q1 2011 and increases mine operating earnings by 123% from Q4 2010
Scorpio Mining achieved record mine operating earnings of $12.5 million in Q1 2011, an increase of 823% over mine operating earnings in Q1 2010 and 123% over mine operating earnings in Q4 2010. Net earnings were $6.6 million or $0.03 per share (basic) for Q1 2011 compared to $18.6 million or $0.17 per share (basic) for Q1 2010. The Q1 2010 net earnings included a $19.8 million gain on dilution and deconsolidation of Scorpio Gold Corporation ("Scorpio Gold"). Basic earnings per share of $0.09 in Q4 2010 was due to the inclusion of $12.4 million of non-cash corporate tax recoveries.
Commodities trader Glencore's bumper public offering has increased interest in Hong Kong listings from across the mining sector and will prove a welcome boost to the bourse, a senior executive at the exchange said. The world's largest diversified commodities trader is set to make its market debut in London and Hong Kong next week, in what could be a record listing, with Glencore [GLEN.UL] hoping to raise $11 billion.
HudBay Minerals Inc. has released its first quarter 2011 financial results. Net profit attributable to shareholders increased to $16.8 million or $0.11 per share in the first quarter of 2011, compared to $10.6 million, or $0.07 per share, during the first quarter of 2010. Earnings in the first quarter of 2011 included a charge of $5.8 million, or $0.04 per share, for transaction costs associated with the successful acquisition of Norsemont Mining Inc. in March 2011. Earnings grew during the quarter mainly due to higher metal prices and reduced exploration expense, partly offset by lower sales volumes, a stronger Canadian dollar and Norsemont transaction costs.
As the chart below demonstrates commodity prices are driven by different factors. The precious metals prices have been the hyperbolic driver of headline commodities news relative to the broader based commodities index and oil. The latter two are more geared to industrial use as gold’s commercial use is limited. The chart highlights the divergence in the components of the commodities index. iShares S&P GSCI Commodity-Indexed Trust (GSG) tracks 24 different commodities including energy (67%), industrial metals (16%), livestock (7%) and precious metals (3%).
Advances in energy and agriculture are creating demand for previously ignored metals such as scandium, tellurium and indium. In this exclusive interview with The Energy Report, Mining Analyst John Kaiser, editor of Kaiser Research Online, explains the science that could exponentially increase the value of overlooked stocks.