Resource Investing News

Weekly Round-Up: Strong US Dollar Weighs Down Commodities

Staff Writer — Fri, 17 May 2013 18:58:12 +0000

A strong US dollar has pushed down most commodity prices this week with gold, silver and oil posting losses. Copper prices were up slightly on the news.

Declining Australian Dollar Leads to ASX Increase

Staff Writer — Fri, 17 May 2013 18:25:25 +0000

Shares increased in Australia by 0.3 percent as firms exposed to the US market benefited from a declining Australian dollar.

AIM Ends the Week Up Nearly Two Points

Staff Writer — Fri, 17 May 2013 18:25:20 +0000

The Alternative Investment Market (AIM) in London was up 1.92 points, at 727.14, on May 17.

Alabama Graphite Reports Final Assays Results from 2012 Drilling Program at Coosa

Pia Rivera — Fri, 17 May 2013 18:15:02 +0000

Alabama Graphite Corp. (CNSX:ALP,US:ABGPF) announced assay results from the remaining core holes from its 2012 drilling program at the Coosa Graphite Project, Alabama.

Zinc Price Up 0.6 Percent

Charlotte McLeod — Fri, 17 May 2013 18:02:59 +0000

FastMarkets reported that zinc is up about 0.6 percent, noting that in the sell off that has taken place recently it is the only metal that has breached the low that it hit in April.

James River Coal Shares Rise to Highest Level in Two Months

Charlotte McLeod — Fri, 17 May 2013 17:49:30 +0000

Bloomberg reported that shares of James River Coal Co. (NASDAQ:JRCC) rose to a two-month high, gaining 16 percent to reach $2.58, following the company's decision to exchange around "$243.4 million of convertible bonds for $123.3 million of new notes due in 2018."

Graphene-boron Mix Promising for Lithium-Ion Batteries

Vivien Diniz — Fri, 17 May 2013 17:43:50 +0000

Phys.org reported that calculations made by Rice University showed that a graphene-boron anode should be able to hold a lot of lithium and perform at a proper voltage for use in lithium-ion batteries.

Marengo’s PNG Copper-Moly-Gold Project Stalls on Power Supply Issues

Charlotte McLeod — Fri, 17 May 2013 17:27:39 +0000

Marengo Mining Ltd. (TSX:MRN,ASX:MMC) provided an update on its Papua New Guinea-based Yandera copper-molybdenum-gold project, commenting that before a final feasibility study can be prepared, the company needs to identify an alternative cost-competitive source of power for the project. That's because Marengo's preferred third-party power provider has backed out of the proposed arrangements for power supply.

US Palladium Bar Price Up 4.6 Percent This Week

Charlotte McLeod — Fri, 17 May 2013 17:14:43 +0000

MetalMiner reported that the US palladium bar price increased by 4.6 percent this week, the third week in a row that the price of the metal has risen.

Striking South African Lonmin Workers Return to Work

Charlotte McLeod — Fri, 17 May 2013 17:08:50 +0000

AllAfrica reported that 83 percent of workers striking at Lonmin plc's (LSE:LMI) South Africa-based Marikana mine went back to work on Wednesday night. They had been ordered back to work earlier in the day by the president of the Association of Mine Workers and Construction Union.