August 2017

Trevali confirms $417m purchase of Glencore zinc assets

Canadian miner Trevali has officially made the list of top-ten zinc producers after completing a $417.9 million purchase of assets from Glencore on Thursday August 31.

LIVE FUTURES REPORT 31/08: LME base metals close August on a high; Al, zinc continue to rally

Base metals prices on the London Metal Exchange traded higher across the board on Thursday August 31, led by a 1.4% increase in aluminium prices.

HOTTER ON METALS: Key LME fees set to return to 2010 levels

The London Metal Exchange, having openly acknowledged that high trading and clearing costs have contributed to its declining volumes, has said it would be likely to cut fees further.

LIVE FUTURES REPORT 31/08: Comex copper price makes modest recovery

Comex copper prices bounced back on Thursday morning in the USA, with positive Chinese and US data combining with falling stocks to boost the metal further.

Glencore's Pasar copper smelter to shut for September maintenance

Glencore’s Pasar copper smelter in the Philippines will shut for planned maintenance in September, Metal Bulletin has learned.

MB MINING STRATEGIC EXCELLENCE CONF: Cost control drive stays in focus despite copper price recovery – Sonami

Mining companies are expected to continue adapting their business model despite improved expectations for copper prices, having learned several lessons since the end of the super-cycle, Diego Hernandez, president of Chilean mining society Sonami, told Metal Bulletin.

NORTH AMERICAN MORNING BRIEF 31/08: LME base metals climb higher; Wolf Minerals extra funding; Yunnan Tin revenue jumps

Key news and price moves to get you off to a good start during the North American morning on Thursday August 31.

Glencore wins South Korea’s PPS aluminium tender at lower premium

South Korea’s Public Procurement Service (PPS) has awarded a 1,000-tonne aluminium tender to Glencore International at a premium of $96.48 per tonne, lower than what was awarded in June.

In Peru’s Logisminsa, metal concs traders see challenge to Big Three dominance

Six months into its launch, Peru’s first independent blending facility for metal concentrates is causing a stir amongst the mining and trading community, with a slice of business long dominated by major traders Trafigura, Glencore and Louis Dreyfus up for grabs.

MB MINING STRATEGIC EXCELLENCE CONF: Challenging supply conditions will support long-term copper prices – Codelco sales vp

The combination of encouraging prospects for copper demand and the challenging scenario for supply is the basis for the positive outlook for copper prices in the long term, according to Codelco’s non refined sales vp, Roberto Ecclefield.