NEWS

Sudbury Platinum closes private placement

TORONTO (miningweekly.com) – Sudbury-focused project generator Sudbury Platinum (SPC) has closed a C$3.18-million financing after issuing 8.69-million flow through common shares at a price of $0.33 a share, 148 649 Flow Through common shares at a price of $0.37 each and 850 000 common shares at a price of $0.30 apiece.

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Mali 2016 gold output forecast to rise as new mines start

BAMAKO – Gold production in Mali, the third-largest gold producer in sub-Saharan Africa, is expected to rise to 52.9 t this year from 50.5 t in 2015 as new mines made up for dwindling output from existing projects, the mines ministry said on Thursday.

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BMR still awaiting ESIA approval

JOHANNESBURG (miningweekly.com) – Aim-listed Berkeley Mineral Resources (BMR) is still awaiting formal approval from the Zambian Environmental Management Agency (Zema) in respect of a definitive environmental social impact assessment (ESIA) for its tailings retreatment process and the construction of a pilot and a main treatment plant in Kabwe.

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China sets course for smooth economic transition and commodity price gains

TORONTO (miningweekly.com) – The retreat of commodity prices on the back of China’s economic shift belied rising levels of uptake and the likelihood of an upcycle later in the decade, CRU Group managing consultant Philip Macoun told an audience at the recent Prospectors and Developers Association of Canada convention.

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The “massive” rally that means China will curb steel exports

The record flood of steel exports from China will probably abate after prices surged in the largest producer, boosting the attractiveness for mills of local sales against shipments overseas, according to commodity trader Noble Group Ltd. “The main reason why we’re going to see lower Chinese steel exports, at least for the next few months, is that the Chinese steel prices have way outperformed steel prices in other regions since December,” Gueorgui Pirinski, a carbon-steel materials analyst at Noble Group, said at a conference in Singapore on Wednesday. “We’ve had a massive 30, 40 percent rally.”

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