Coking coal price to remain elevated in 2019— report
On the supply side, Fitch expects production misses from Australia to keep the market tight in the coming quarters as large diversified miners lose their appetite for mining coal.
Ross Beaty, the founder of Pan America Silver and Equinox Resources, is not cowed by the bad economic news. He looks at the markets and still sees opportunity.
The drop-off in demand, exacerbated by high inventories thanks to a mild northern hemisphere winter and a surge in US exports have led to a collapse in thermal coal prices.
Stocks of major fertilizer producers Mosaic and Potash Corp hit their lowest levels in almost two years on Monday, in what is considered yet another sign the commodity “supercycle” is gearing down as slower global growth cools demand.
Consumers made the most of the dip in the price of bullion and mainland China's gold purchases via Hong Kong hit a record 101.7 tonnes in April, up 62%.
China is looking to allocate a value-added tax (VAT) permit to all rare earth companies in a desperate effort to curb resource plundering, dangerous artisanal mining and widespread pollution, as well as collecting revenue.
Copper suffered another sharp drop in New York on Friday with traders reacting to bad economic news from the US in the form of dismal jobs numbers, a crisis in Europe that seems to be stressed to breaking point and a steep drop-off in growth in China, Brazil and India.
The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will finally find its way to the inboxes of shareholders today.
Eldorado Gold Corporation ("Eldorado") ("the Company" or "We") (TSX:ELD)(NYSE:EGO)(ASX:EAU) today confirmed its intention to be removed from the official list of the Australian Securities Exchange ("ASX") effective at the close of trading on August 31, 2012 (Sydney time). Eldorado had previously announced on February 24, 2012 that it intended to de-list from the ASX (see news release 12-09).
Graff Diamonds only received half the expected orders. Its announcement comes just one week after China Nonferrous Mining Corp pulled the planned listing of its Zambian copper assets in Hong Kong.