HALIFAX (Scrap Monster): The mining industry’s aggregate market capitalization fell in April to $1.82 trillion, the lowest level since December, said the Metals Economics Group (MEG), a mining research and consultancy group on Tuesday.
According to MEG, its pipeline activity index showed that significant drilling results also appear to be stalling. Gold drilling has remained flat since peaking in November and base metals results are at levels similar to late 2010-early 2011 after a moderate spike in February.
“Drilling activity remains lower than the highs of 2011 as adverse markets continue to make financing very difficult for early-stage explorers. Many junior explorers are reporting sufficient cash on hand to continue work, but some will likely scale back their programs to conserve cash,” MEG continued.
The bright spot in the data are the rise in initial resource announcements made in both March and April. “It is the first time since early 2009 that there were 15 announcements in a single month, and the two-month total of 30 is the highest since July-August 2008,” they added.
MEG also added that, its pipeline activity index measures the level and direction of overall activity in the supply pipeline, incorporating significant drill results, initial resource announcements, project development milestones, and significant financings into a single comparable index.
Related News
More emphasis needed on recycling and reuse of Li-ion batteries, says new paper
A new paper in the ACS journal calls for more emphasis on recycling and reuse of Li-ion batteries Mexico is the key recycling destination of US used batteries, reveals CEC
The recent study report by the Commission for Environmental Cooperation (CEC) reveals that a lion's share of spent lead-acid batteries… Mexico at risk of becoming pollution haven, trade of used batteries from US surge
Enormously large quantities of used batteries are being shipped from US across the border to Mexico. This is not because… Mining News
- 6063 Extrusions
- 0.81
- -0.0099999999999999

- 6061 Extrusions
- 0.80
- -0.01

- #1 Copper Bare Br..
- 3.07
- -0.22

- # 1 Copper Wire a..
- 2.95
- -0.24

- # 2 Copper Wire a..
- 2.77
- -0.23

- Yellow Brass
- 2.11
- -0.09

- Scrap Electric Mo..
- 0.40
- +0.01

- Old Sheet
- 0.68
- -0.03

- Al/Cu Radiators
- 1.63
- -0.04

- Old Cast
- 0.71
- -0.01

- Alternator
- 0.64
- 0

- Zorba 90% NF
- 0.71
- 0

- 304 SS Solid
- 0.67
- +0.01


99.9 % Copper wire Mill berry…
India May 09 2013
Used / Scrap Fridge Compressors
India May 09 2013
Used / Scrap Electric Motors…
India May 09 2013
Need copper scrap suppliers
South Korea May 11 2013
Copyright © ScrapMonster 2009-2013. All rights reserved





