Kaz Minerals bidders up takeover bid to $5.5 billion
A consortium led by Kaz’s chairman Oleg Novachuk has raised its offer for the miner by 9%.
Asia
Mick Davis launches US$300 million battery metals SPAC
Former Xstrata boss Mick Davis’ newly founded battery metals investment firm Vision Blue Resources is stepping up efforts to reach the goal of becoming a battery metals giant by launching…
Has China shattered battery nickel’s supply chain bottleneck?
China has turned the nickel market on its head after the world’s biggest stainless-steel producer, Tsingshan Holding Group, this week agreed to supply about 100,000 tonnes of matte (containing approximately…
Resource nationalism surge spells rough times for miners
Resource nationalism has spiked in more than 30 countries over the last year and more than half of those nations are key producers of minerals and hydrocarbons, a new study reveals….
Turquoise Hill CEO quits on Rio Tinto meddling
Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) announced on March 4 that its CEO Ulf Quellmann is leaving the company after majority-owner Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) told…
U.S. markets mixed, Feb. 15-19
The Dow Jones Industrial Average rose 35.92 points (0.11%) to 31,494.32 during the Feb. 15-19 trading week and the S&P500 fell 28.12 points (0.72%) to 3,906.71. Spot gold finished the…
Pent-up weddings and stimulus could mean ‘generational consumer boom’ for diamonds
Global diamond production in 2020 fell by more than 20% to about 113 million carats due to planned production declines by the major producers and pandemic-related suspensions and curtailments. The…
Canaccord Genuity raises Q1 copper price forecast
Canaccord Genuity mining analyst Dalton Baretto has raised his copper price forecast for the first quarter from US$3.50 per lb. to US$3.75 per lb. “Given the average quarter to date…
Nickel prices: How did we get here and what comes next?
Nickel prices have risen substantially over the past 12 months and are edging closer to the US$9 per lb. or US$20,000 per tonne threshold that analysts believe could spur investment…
Mongolia asks Rio Tinto to mutually cancel Oyu Tolgoi’s deal
Mongolia’s government is said to be actively seeking to cancel a deal with Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) governing a US$6.75 billion expansion of the Oyu Tolgoi…
US markets mixed, Feb. 1-5
The Dow Jones Industrial Average climbed 3.89% to finish the week at 31,148.24 and the S&P 500 advanced 0.02% to 3,841.47. Spot gold fell US$32.90 per oz., or 1.78%, to…
Turquoise Hill scores win in funding spat with Rio Tinto over Mongolia mine
Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) has scored a temporary, but key win in its ongoing dispute with Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) over funding of…