Copper price powers on – “tell-tale signs of supercycle”
Copper prices jumps to highest since February 2013 on hopes US economic stimulus will further boost demand for metal already in short supply amid an Asian factory and construction boom.
Proposed refinancing comes after Paladin failed to sell a 24% stake in its Langer Heinrich mine to China National Nuclear Corporation (CNNC), which was expected to fetch $175 million.
The move comes less than two years after the Montreal-based firm decided to add exposure to the steelmaking raw material by grabbing a stake in the fellow Canadian iron ore company.
The 35.26 carat brown diamond was among a number of rough gems found at Merlin mine, including a 14.6 carat brown rock as well as a number of smaller white diamonds.
The Israeli billionaire, under house arrest since Dec. 19, has been at the centre of an international investigation into alleged bribery to win mining rights in Guinea.
The EMR Capital private equity firm run by Owen Hegarty has agreed to buy the Golden Grove copper and zinc mine in Western Australia from MMG for $US210 million ($291m), giving Mr Hegarty control of the mine for a second time.
Australian silver explorer Silver Mines (ASX:SVL) is now all-in as it seeks to develop the continent's largest undeveloped silver deposit- the Bowdens Silver Project.