Sign up here to receive our free weekly newsletter
Hong Kong and Shanghai Stock Exchange-listed Zijin Mining has bought a 50% stake in Barrick Gold Corp’s Porgera gold mine in Papua New Guinea for $298 million, the company said on Tuesday May 26.
Welcome to the rolling base metals price report tracking the Shanghai Futures Exchange and London Metal Exchange markets on Wednesday May 27.
China’s Zijin Mining will buy a 49.5% stake in Kamoa Holding Ltd, a subsidiary of Ivanhoe Mines that presently owns 95% of the Kamoa copper project in the Democratic Republic of Congo (DRC), for $412 million.
Good morning from Metal Bulletin’s offices in Asia, bringing the latest news and pricing stories affecting the metals market.
Key news and price moves to get you off to a good start on May 27.
ALUMINIUM: The irresistible rise of the LME contango
There is now a sense that aluminium premiums are falling, and that the contango on the light metal's forward curve has been tamed. But a glance at the history suggests that the drivers at work could outweigh any LME rule changes.
Song Anping takes over as SHFE chairman; Yang stays on board
Song Anping took over as chairman of the Shanghai Futures Exchange at the end of April from Maijun Yang, who remains on the board, a source familiar with the situation told Metal Bulletin.
ALUMINIUM: The story of a base metals contango on the LME
Aluminium premiums have been dropping sharply this year but what enabled the financing deals that locked up metal in the first place? Over the next few days, Metal Bulletin will be running a series of articles on the history of the LME aluminium contract and particularly the spread between nearby prices and those further out.
COMMENT: Listing Norilsk's nickel would give SHFE's new market liquidity
The first settlement of the Shanghai Futures Exchange’s new nickel contract is due in July and still material from the world’s largest producer, Norilsk Nickel, cannot be delivered against the contract.
Metal Bulletin's LME Week Asia map
LME Week Asia 2015 begins on Monday May 18 in Hong Kong. The industry gathering is fast becoming as significant in the annual metals calendar as the autumn event held in London.
Will Norilsk's nickel be approved for delivery against the Shanghai Futures Exchange nickel contract?
21st Int'l Iron Ore Symposium
01 Jun 15 - 03 Jun 15
10th Asian Stainless Steel Conference
03 Jun 15 - 04 Jun 15
Steel Success Strategies XXX
08 Jun 15 - 10 Jun 15
CDI CONF: What did we learn?
Sentiment at the CDI conference this month was upbeat amid an anticipated cobalt supply shortage. Here is a summary of the things we learned.
LME WEEK ASIA: What did we learn?
Metal Bulletin rounds up the hot topics at this year’s LME Week Asia in Hong Kong.
HOTTER ON METALS: Chat room transcripts see Barclays held to account
If you still thought your online chat sessions with clients, colleagues and peers were private, think again.
Copyright ©Euromoney Global Limited. All rights reserved.