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Iron ore price surges on Brazil covid-19 crisis
Iron ore prices were closing in on triple digits on Wednesday as optimism about a quick recovery in China, where more than half the world’s steel is forged, combined with supply fears from Brazil, the globe’s number two supplier. According to Fastmarkets MB, benchmark...
Tianqi Lithium 6% stake up for sale
China’s Tianqi Lithium Corp., the country’s top producer of the battery metal, said on Monday that its controlling investor had put a sixth of its holding up for sale. The move, the Shenzhen-listed lithium miner said, seeks to raise much needed cash to pay back debt...Newmont expects higher costs, lowers 2020 capex
Newmont said on Tuesday it expects costs to rise in 2020 as some of its operations were placed on temporary care and maintenance, and the miner also cut its spending budget due to covid-19-led reduction in non-essential activities. The company now expects 2020...McEwen posts $99m Q1 loss on Gold Bar write-down
McEwen Mining posted a net loss of $99.2 million or $0.25 per share for the quarter ended March 31, primarily due to a $83.8 million impairment charge for its Gold Bar mine in Nevada. The company says the write-down was necessary because a change in the geological...