Central Asia Metals to buy Lynx Resources for $402m

e miner said it has the second largest nickel sulphide resource base globally, based on its land holding in the Agnew-Wiluna belt in Western Australia.

The PEA outlines primarily an underground block cave mining operation supplemented with a small open pit, and is planned to operate for 39 years with a peak mill feed production of 170,000 t/d.

Smelting activity was hit by weakness in China and the biggest mining region South America.

Chief executive Shaun Day said the London-listed company was reviewing the opportunity to “get the best of both worlds.”

Annual inflation, which hit 256.9% in July, has cast a shadow over President Emmerson Mnangagwa's bid to revitalise the economy.

Nornickel's first-half sales of nickel fell by 6%, palladium by 4% and platinum by 18%.

Lundin said Monday it had halted development work near the site, but that the sinkhole didn’t affect the community, workers or its annual output guidance.

US House of Representatives Speaker Nancy Pelosi landed in Taiwan on Tuesday evening in defiance of Chinese threats.

China's micro indicators all suggest the country is running short of copper right now, writes Andy Home.