(Bloomberg) - Anil Agarwal, the Indian commodities billionaire, said the rally in Anglo American Plc vindicated his personal bet in the mining group, adding that he plans to own the shares for a long time.Agarwal surprised Anglo's management last year when he took a 21 percent stake in the company, becoming its top shareholder. The structure of the purchase, done via a mandatory exchange bond issu...Read More
Africa-focused gold producer Randgold Resources (LON:RSS) said Monday it expected its Democratic Republic of the Congo mine to achieve full production this year, following the commissioning of its underground operation's automated ore handling and hoisting system.Mine is on track to produce its target of 700,000 ounces of gold in 2018.The company, which has five operating gold mines across west...Read More
Rising mineral prices and the struggle to earn a living from agriculture have led to an "explosive growth" in global artisanal and small-scale mining (ASM) in the last few years, a new study published Monday shows.Artisanal and small-scale miners produce about 20% of the current global gold supply.According the report, produced by Canada's Intergovernmental Forum on Mining, Minerals, Metals and Su...Read More
Mining giant Rio Tinto (LON:RIO) is setting up a new office in Mongolia, independent from its massive Oyu Tolgoi copper and gold mine, which will focus on exploration and local links.The opening of the new unit, based in capital city Ulaanbaatar, shows Rio's vote of confidence in a nation that has recently been on Oyu Tolgoi's case.The new office, separate from Rio's presence in the Oyu Tolgoi m...Read More
The US Army Corps of Engineers confirmed in January that the Pebble permit application is complete, which drew a line under an acrimonious battle between the company and the US Environmental Protection Agency. The EPA previously claimed jurisdiction over the Pebble permit application and essentially gave a pre-emptive decision against it.Read More
Palisade Research January 22, 2018 Category: Research This morning Mexican Gold released the final assays of its 2017 program. . .The results focused on the Eastern extent of El Dorado/Juan Bran, where the Dike Contact has only seen one drill hole in the past.Currently, the west contact zone has been outlined for over 360 meters along strike. Today's assays outline high-grade mineralization on the...Read More
Demand and prices for virtually all industrial materials and commodities - from lumber and copper to oil and agricultural products - made for strong gains in 2017, and "synchronized" global economic growth promises to continue pushing prices up throughout 2018 and 2019, according to Scotiabank Economics."Scotiabank Economics is forecasting, for the first time since the global financial crisis, tha...Read More
After having invested $1.2 billion to develop the Kamoa-Kakula project in the Democratic Republic of Congo, it is no surprise that Ivanhoe Mines' executive chairman, Robert Friedland, is bullish on copper. The engine that drives his confidence comes in the form of electric vehicles which, according to investment manager U.S. Global Investors, need up to four times the amount of copper traditional...Read More
Great Atlantic Resources (TSXV.GR) announced that, in the spring of 2018, it will start drilling at its Porcupine base metal - precious metal - rare earth element project located in the eastern Canadian province of New Brunswick. The site is approximately 50 kilometres west of the city of Miramichi and occupies a land package of 2,830 hectares.Following the approval of a diamond drilling permit fo...Read More
Kutcho project1. IntroductionVery rarely I come across a junior that simply seems to tick almost all boxes, and it looks like new sponsor Kutcho Copper Corp. (KC:TSX.V) is doing just that. From project profitability to management, from financials to geology, from location to metal prices, it comes across as a genuine display of quality and excellence. CEO Vince Sorace certainly made the most of...Read More
The world's leading gold-stock ETF is nearing a major upside breakout from key technical levels. GDX is getting closer to challenging and powering above $25. That would accelerate the sentiment shift in this deeply-undervalued sector back to bullish, enticing investors to return. Good operating results from the major gold miners in their upcoming Q4'17 earnings season could prove the catalys...Read More
Jeff Desjardins on January 18, 2018If for some reason, you still think that the commodity markets are predictable, today's chart provides a nice piece of humble pie.The Periodic Table of Commodity Returns, which comes to us annually from our friends at U.S. Global Investors, shows the returns of commodities over each year of the past decade.As you may have guessed, commodities are a volatile ass...Read More
Wood Mackenzie sees copper demand increasing significatively over global supply in the next decade and, together with it, miners' need for reliable sources of water."As constant and high demand for copper leads to resources running out, copper grades will progressively diminish. As a result, water demand will increase because it will be necessary to process more material to obtain the same amount...Read More
Chile's environmental authority - SMA - has ordered the definitive closure of Barrick Gold's (TSX, NYSE:ABX) already halted Pascua-Lama project, but lowered the fine for violations to 7 billion pesos ($11.5 million) from the previous $16 million it had charged the company."Given the nature and the size of the breaches that the company committed, there is the conviction that total and definitive...Read More
Rio Tinto-controlled Turquoise Hill (TSX, NYSE:TRQ) has declared force majeure at its massive Oyu Tolgoi copper and gold mine in Mongolia, following protests by Chinese coal haulers that have interrupted shipments near the border.In a note released Wednesday night, the Vancouver-based miner said that earlier this month protestors used a large number of vehicles to block the main access road...Read More
Boreal Metals (TSX-V: BMX / Frankfurt: 03E) is a base & precious metals explorer in Scandinavia that is making a major push into the key green energy tech metal Cobalt ("Co"). The management team & Board have a remarkable amount of experience for a company with a market cap of $17 M plus ~$3 M in cash. [~52 M shares outstanding]In addition to 4 projects with exploration poten...Read More
Palisade Research January 18, 2018 Category: Research Hello Subscriber, While I’m writing you this, gold is on its way to $1,400. . .That makes gold up 8% since this time last month. No wonder many of the largest asset managers in the world are piling into the yellow metal. . .They are positioning themselves for gold’s new bull-market. But more importantly - are you setting yourself up...Read More
SANTIAGO, Jan 17 (Reuters) - Output at BHP Billiton PLC's Escondida mine in Chile, the largest copper mine in the world, fell 7.8 percent in 2017 compared to the prior year due to a prolonged strike, the company said in a statement on Wednesday.The decline to 903,000 tonnes came despite the start of operations at a new wing.BHP said production in the second half of the year grew 29 percent to 583,...Read More
OSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste total about 18 million tonnes a year and contain materials worth billions of dolla...Read More
SANTIAGO, Jan 17 (Reuters) - Chile's state copper commission, Cochilco, on Wednesday raised its estimated 2018 average price for the metal to $3.06 per pound from its previous forecast of $2.95 per pound, pointing to the potential for global supply disruptions in the coming year.Cochilco Vice President Sergio Hernandez cited a "perception of vulnerability" that he attributed to the large number of...Read More