Citi’s mega metals trade shows global markets turning to glut
Mining News Pro - Citigroup Inc. has been buying large volumes of physical aluminum and zinc on the London Metal Exchange, in a bold metal-financing trade that’s made it one of the biggest players in the market in recent months.
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Visit: 141
Citi buys $160 million of Russian aluminum others won’t touch
Mining News Pro - Citigroup Inc. has bought about $160 million of Russian aluminum from the London Metal Exchange, something many banks have refused to touch since the invasion of Ukraine.
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Visit: 498
Chinese embassy calls upon citizens to leave three provinces in the DRC
Mining News Pro - Texas-based geo-political consultancy Stratfor says China’s Embassy in the Democratic Republic of the Congo is telling its nationals in the country to leave the provinces of eastern Ituri, North Kivu and South Kivu and to report their location to embassy staff before December 10.
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Visit: 620
City of Karratha to add value to mining cities alliance
Mining News Pro - The Australian Mining Cities Alliance (AMCA) has welcomed the City of Karratha as its latest member, while also announcing the appointment of new executive officer Gary Stevenson.
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Visit: 836
Nordgold postpones IPO, citing uncertainty in gold market
Mining News Pro - Following its announcement earlier this month of an initial public offering in London, along with a secondary listing in Moscow, Nordgold has now decided to postpone its potential multi-billion-dollar IPO.
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Visit: 865
CITIC to mine additional 1bn tonnes of iron ore
Mining News Pro - CITIC is set to strike a deal with Mineralogy chairman Clive Palmer to mine a further one billion tonnes of iron ore in Western Australia.
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Visit: 624
MACA adds $200m CITIC Pacific contract to books
Mining News Pro - MACA has secured a hire and maintenance contract with CITIC Pacific Mining Management (CPM) at the Cape Preston Sino iron operation in Western Australia.
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Visit: 697
Orion paving way for another exciting `green` base metals hub in Northern Cape
Mining News Pro - The copper strength of Orion Minerals is intensifying with Tuesday’s announcement of the company’s exclusive option to acquire the Okiep Copper Complex in South Africa’s Northern Cape for A$7.5-million.
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Visit: 547
Spanish cities opposed to exploration at Emerita Resources’ project area
Mining News Pro - The Spanish cities of Paymogo and Puebla de Guzmán issued a directive stating that mining exploration activities are forbidden in an area known as La Romanera, which is a large sulphide deposit that Canada’s Emerita Resources is looking to develop.
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Visit: 488
Citi says it`s `only a matter of time` before gold hits a record
Mining News Pro - Bullish factors building in the bullion market are set to see prices take out the record set in 2011, according to Citigroup.
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Visit: 490
Citi to stop working with thermal coal miners, to reject funding for Arctic oil, gas exploration
Mining News Pro - Citigroup will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossil fuels.
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Visit: 745
Vale slashes 2020 output forecasts, citing virus
Mining News Pro - Brazilian miner Vale on Friday cut its forecast for production of iron ore fines and pellets, copper and nickel in 2020, saying in a securities filing that the new coronavirus outbreak was delaying some facilities from reopening.
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Visit: 957
Legend uncovers most exciting post-Nova nickel discovery
Mining News Pro - Legend Mining has unearthed “the most significant and exciting discovery in the Fraser Range post Nova” during the first diamond drilling at the Mawson prospect in Western Australia this year.
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Visit: 674
Trump, citing US farmers, slaps metal tariffs on Brazil, Argentina
Mining News Pro - U.S. President Donald Trump ambushed Brazil and Argentina on Monday, announcing he would restore tariffs on U.S. steel and aluminum imports from the two countries in apparent retaliation for currency weakness he said was hurting U.S. farmers.
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Visit: 824
Ivanhoe, CITIC complete second major financing for Congo mines
Mining News Pro - Canada’s Ivanhoe Mines (TSX:IVN) has received a second major strategic investment of C$612 million (about $490m) from its largest shareholder, China’s state-owned CITIC Metal, that will be used towards speeding up construction of a giant copper mine in the Democratic Republic of Congo.
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Visit: 826
CITIC to pay royalties to Mineralogy following appeal rejection
Mining News Pro - CITIC has had its appeal case against Clive Palmer’s Mineralogy rejected, forcing the Chinese company to pay royalties from its iron ore project in Pilbara, Western Australia.
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Visit: 829
Citigroup says Venezuela deal covered $1.6 billion in gold
Mining News Pro - Citigroup Inc. said it entered into a financing deal with Venezuela’s central bank in 2015 essentially using $1.6 billion of gold held at the Bank of England as collateral.
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Visit: 870
Exciting times ahead for innovative Northparkes copper mine
Mining News Pro - Northparkes was Australia’s first highly efficient block cave mine, celebrated for its high quality copper and gold deposits and being the world’s most automated underground mine. Now, there are significant new operations afoot.
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Visit: 973
Indian Sponge Iron Exports Increasing on Rising Melting Capacities in Bangladesh
Mining News Pro - Sponge iron exports from India to Bangladesh are continuously rising, with ramping up steel production capacities in Bangladesh.
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Visit: 1564