News

Shares in Sandfire Resources were sitting near a two-year high after the copper price hit a record overnight and the company reaffirmed its full-year production guidance (reports MiningNews).

Shares in Sandfire Resources were sitting near a two-year high after the copper price hit a record overnight and the company reaffirmed its full-year production guidance (reports MiningNews). March quarter production from the DeGrussa mine in Western Australia was 16,803 tonnes of copper and 9100 ounces of gold at C1 costs of US87c per pound of copper, broadly in line with the previous quarter. Sandfire said it remained on track to meet the upper end of its full-year guidance of 67,000-70,000t of copper and 36,000-40,000oz of gold.

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Copper’s stunning rally towards its highest level since 2011 is showing no signs of abating, with bulls swarming in to profit as stimulus measures, vaccine rollouts and climate pledges fuel a global recovery from the pandemic (reports Bloomberg).

Copper’s stunning rally towards its highest level since 2011 is showing no signs of abating, with bulls swarming in to profit as stimulus measures, vaccine rollouts and climate pledges fuel a global recovery from the pandemic (reports Bloomberg). Copper on Tuesday extended gains to the highest in about a decade as global growth underpinned a rally in metals markets ranging from aluminium to iron ore. Commodities are advancing towards the highs of the last supercycle, when prices spiked in the early 2000s with a surge in Chinese orders.

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Outgoing Northern Star Resources executive chairman Bill Beament says he plans to build the company he’d always envisioned when he starts at Venturex Resources on July 1 (reports MiningNews).

Outgoing Northern Star Resources executive chairman Bill Beament says he plans to build the company he’d always envisioned when he starts at Venturex Resources on July 1 (reports MiningNews). In February, it was announced Beament would leave Northern Star after 14 years after taking the company from a A4c shell to the $13 billion gold major it is now. He'll join junior copper-zinc developer Venturex and will also own about a third of the company after putting in $37.3 million of a $58 million recapitalisation.

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Plus, our whisper last week on Rumble proved well-founded but don’t forget Zenith, Beament begins his goodbyes at Northern Star, Sovereign prepares for maiden rutile resource and Biswas has a crack at cryptos

The turnaround in the lithium market has been remarkable stuff, with the key battery material swept up in the global “green” investment boom in the decarbonisation of transport and energy. The resultant surge in lithium prices in the opening months of 2021 has seen last year’s beaten-up lithium stocks recapture their darling status. Pilbara (PLS) tells the tale. In the depth of despair over COVID-19 a year ago, Pilbara could be bought for 18c. It has since climbed to $1.11.

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Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews).

Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews). The company received 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide. The drilling expanded the G4-G11 zones to the north-east and the G1-G2 zones down-dip. G4 is now 1250m long with up to 600m of dip extent, while G11 is 1200m long with up to 300m of dip extent. Both are open to the north and down-dip.

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Two weeks ago I referred to the commodity super cycle that is under way. The stock prices of most resources companies have followed commodity prices on the way up (reports analyst Ryk de Klerk from the African News Agency).

Two weeks ago I referred to the commodity super cycle that is under way. The stock prices of most resources companies have followed commodity prices on the way up (reports analyst Ryk de Klerk from the African News Agency). The big question I asked myself is where I can find value in the resources sector. My starting point was to look for stocks such as junior or emerging mining companies that are often ignored or not followed by analysts. I used the JSE-listed junior mining companies in South Africa to calculate a Junior Mining Company Index for South Africa.

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OZ Minerals says soaring coronavirus cases could have a material impact on its Brazilian copper operations, with the miner flagging the loss of output amid the “deteriorating” situation in the pandemic-wracked nation (reports The Australian).

OZ Minerals says soaring coronavirus cases could have a material impact on its Brazilian copper operations, with the miner flagging the loss of output amid the “deteriorating” situation in the pandemic-wracked nation (reports The Australian). OZ Minerals on Thursday maintained its annual production guidance of 120,000 to 145,000 tonnes of copper output for the year.

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The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz

The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz -- and might be there by the time you read this. Soft commodities and financial markets are also booming. Wheat is trading at a seven-year high. Timber in the U.S. is at an all-time high, as are share prices on the New York Stock Exchange.

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