Aluminum producer Novelis hits pause on $945 million US IPO Novelis had planned to sell 45 million shares for $18 to $21 each, and Hindalco would have owned about 92.5% of the company after the IPO. Bloomberg News | June 5, 2024 | 9:16 am
Gold price up over 1% on Fed rate cut optimism Traders are currently pricing in about a 59% chance of a Fed rate cut in September, according to CME FedWatch. Staff Writer | June 5, 2024 | 8:55 am
Nevada King Gold drill testing scores high grades Atlanta is on the site of a past-producing open-pit gold mine where Standard Slag produced 110,000 oz. of gold and 800,000 oz. of silver. Blair McBride | June 5, 2024 | 8:50 am
MinRes to sell minority stake in Onslow haul road for $864 million The Onslow iron ore project is a joint venture with giant steelmakers China Baowu, POSCO and Advanced Micro Controls. Reuters | June 5, 2024 | 8:10 am
China’s unusually large copper stockpiles fuel demand concerns Stockpiles of the metal held in Shanghai Futures Exchange warehouses ended last week well above 300,000 tonnes. Bloomberg News | June 5, 2024 | 7:59 am
Traders are desperate for copper deals and miners are cashing in Recent moves by cash-flush energy traders are raising tensions and sparking a scramble for contracts. Bloomberg News | June 5, 2024 | 7:25 am
Glencore said to weigh selling stake in Kazakh miner Kazzinc The company has already sold zinc assets in Peru, and some of its smaller copper operations. Bloomberg News | June 5, 2024 | 7:13 am
Iron ore price hits seven-week low on softening China steel demand, higher supply bets Iron ore futures extended their decline to a fifth straight session on Wednesday. Reuters | June 5, 2024 | 7:07 am
Rusal in talks to mine bauxite in Sierra Leone Rusal already has operations in neighboring Guinea. Reuters | June 5, 2024 | 7:00 am
