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20 April 2019
Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, rising slightly to $3.08 for 2020 on improving prospects for growth in China. Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96-million tonnes for 2019 and just above 6-million tonnes in 2020. The agency expects a 208 000-t deficit in the global market for 2019, dropping to 202 000 in 2020.
TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth potential in the near-term through the near-surface Antenna deposit and attractive satellite opportunities, as well as a highly prospective large land package.
Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has since had a 4.5-times value uplift.
Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial year.
Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating plans and its guidance.