News

Iron ore prices have been on the rise amidst a turbulent start to the year for the global seaborne trade following the tragic events in Brazil arising from the Brumadinho tailings dam breach (reports Stockhead).

Iron ore prices have been on the rise amidst a turbulent start to the year for the global seaborne trade following the tragic events in Brazil arising from the Brumadinho tailings dam breach (reports Stockhead). A recent report by Wood Mackenzie has said, excluding the impacts on Vale, close to 8 million tonnes of seaborne iron ore supply from Brazil is at risk in 2019 as a result of new regulations which ban tailings dams built using the upstream method.

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Nzuri Copper is planning to sell out of its circa A$200 million Kalongwe project in the “world’s premier copper district” for $110 million after receiving a cash offer from Chinese company Chengtun Mining Group (reports MiningNews). Chengtun is offering 37c per share for Nzuri, a 42% premium to the company's most recent trading price. Nzuri's 85%-owned Kalongwe project in the Democratic Republic of Congo has previously been estimated to have a net present value of US$186 million on a pre-tax basis and $130 million on a post-tax basis.

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The gold price could soar to as high as US$1500/oz this year as the US dollar falls due to America’s growing deficit, according to senior analyst Gavin Wendt. Writing in the latest edition of the Minelife resources bulletin, Wendt says the diminishing prospect of further rate rises in the US and strong buying from central banks was also driving the price of the precious metal. “One of the most pleasing aspects of gold’s strong recent price performance is the fact that the metal has been making both higher highs and higher lows since mid-August 2018,” Wendt says.

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Copper is on a tear in 2019 but it could be sign of a bigger things to come (reports Stockhead). The problem is, when it does take off, who’s going to be ready for it? MineLife director Gavin Wendt said the current price action reminds him of zinc prices a couple of years ago, which soared more than 250 per cent in less than two years. Back then, it was about a looming supply deficit, but nobody knew when the pressure would actually release.  

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Plus, Dateline highly-leveraged to impending drilling program at high-grade Colorado gold project

There was good news for the junior mineral sands players in the annual profit report from the mineral sands king of the ASX, Iluka. The report confirmed Iluka had enjoyed a 41% increase to $US1,351/t in its weighted average zircon price for 2018 while rutile pricing was 21% higher at $US952/t. Prices are currently higher than last year’s averages, with Iluka lifting its zircon reference price to $US1,580/t from October 1 last year for six months. Iluka said its customers had swallowed it with “positive” feedback, if that were possible.

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Two forgotten sectors of the Australian market made a return this week

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Top Melbourne fund manager Hedley Widdup from Lion Selection Group has likened current market conditions for junior miners to the early 2000’s , but has predicted a growing flow of money into the junior resource sector over the months and years ahead.

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Newly-minted lithium miner Pilbara Minerals (ASX: PLS) could offer investors an ~80 per cent return as it rebounds from a recent sector-wide price correction

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference will be held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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