Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Disappointing investment demandcontinues to dominate the gold market as the World Gold Council reported a 7%decline in demand for the precious metal in the third quarter.In its latest Quarterly Demands...Read More
Top-ten global gold producer Newcrest (TSE:NCM) announced today that gold production was 396,000 ounces and copper was 25,000 tonnes in its Q3 quarterly report. Gold production was 27% lower than the prior period mainly driven by lower mill throughput rates at Cadia, Lihir and Telfer, said the company. Newcrest Managing Director and CEO, Sandeep Biswas, expects production to increase. "Newcrest's...Read More
Lundin Mining (TSX:LUN) reported cash flows of $523.1 million generated from operations in its third quarter. Gross profit for the quarter ended September 30, 2021 was $303.9 million, an increase of $104.6 million compared to the prior year quarter.Net earnings for the quarter ended September 30, 2021 were $190.6 million, an increase of $57.0 million compared to the prior year quarter. Net earning...Read More
NorthWest Copper (TSX-V:NWST) announced today it intersected 33.60% CuEq over 9.40 metres within a 235.45 metre interval of 2.92% CuEqu at its Kwanika project located in B.C. The company called the discovery a new style of high-grade mineralization. The stock traded up 50% to 95 cents a share. "This drill hole is a game changer for our Kwanika Deposit and for the region," says Peter Bell, Presiden...Read More
Oct 28 (Reuters) - Fortescue Metals Group said onThursday its iron ore shipments rose 3% to a record level in thefirst quarter. The world's fourth-largest iron ore miner shipped 45.6million tonnes (mt) of the steel-making commodity in theSeptember quarter, compared with 44.3 mt a year earlier. It beatan RBC Capital Markets estimate of 44.7 mt.(Reporting by Sameer Manekar and Nikhil Kurian Nainan i...Read More
(Kitco News) - The most advanced physical portal to the digital world, a 3Dphotographic scanner was recently debuted in Dubai. The structure weighs oneand a half tons, and uses 200 of Sony's newest generation cameras, with some cameraseven placed below the floor. "This islike ‘star gate.' You walk in and you enter a new universe," said Robert Gryn, Founderand CEO of Metahero, describing t...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Osisko Gold Royalties (OR: TSX & NYSE) announced Wednesday that it has concluded a transaction with Barrick TZ Limited, a subsidiary of Barrick Gold Corporation, to acquire royalties for total cash con...Read More
(Kitco News) Toronto police are asking the public's help in their hunt for suspects involved in the theft of $11 million worth of pure silver bars.Bars of the precious metal were stolen from a shipping container in Montreal, Quebec, on January 2020. Suspects took off with USD$11 million worth of pure silver in bullion form.Since then, police have partially recovered some of the physical metal in T...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Agnico Eagle Mines (NYSE: AEM) (TSX: AEM) today reported record quarterly gold production of 541,663 ounces (including Hope Bay) in Q3 2021, an increase of 10% compared to Q3 2020 (492,693 ounces).The...Read More
Mr. David Wolfin reports AVINO ACQUIRES NEIGHBORING LA PRECIOSA PROJECT; ADDS SIGNIFICANT PRODUCTION POTENTIAL TO GROWTH PROFILE, AND SUBSTANTIALLY ENHANCES ITS MINERAL RESOURCES Avino Silver & Gold Mines Ltd. has entered into a share purchase agreement to indirectly acquire through the purchase of the shares of certain holding companies, the La Preciosa property from Coeur Mining Inc. (NYSE:...Read More
NEW YORK, Oct 27 (Reuters) - The largest U.S. manufacturers including General Motors, General Electric, 3M and Boeing face logistics headaches and higher costs due to global supply bottlenecks that are likely to persist into next year but agreed the hit to profits can be mitigated by charging higher prices for their goods.Companies across the globe sounded the alarm on supply issues months ago tha...Read More
WASHINGTON, Oct 27 (Reuters) - Chief consumer finance watchdog Rohit Chopra told U.S. lawmakers on Wednesday his agency wants to minimize foreclosures on struggling American homeowners and make consumer lending more competitive.The Consumer Financial Protection Bureau (CFPB) will also scrutinize the efforts of technology giants to gain greater control over the flow of money in the economy; these "...Read More
BRUSSELS, Oct 27 (Reuters) - Nvidia (NVDA.O) suffered a setback on Wednesday as EU antitrust regulators opened a full-scale investigation into its $54 billion bid for British chip designer ARM on concerns the deal could lead to higher prices, less choice and reduced innovation.Britain's competition agency is also probing the deal for the country's most important technology company, warning that...Read More
By Marco AquinoLIMA, Oct 27 (Reuters) - Peru's leftist government onWednesday asked Congress for authorization to overhaul thecountry's tax code with a focus on raising taxes on the miningsector, funds the administration wants to use on socialprograms.The government wants to "perfect the mining sector's fiscalregime," according to a copy of the document filed withCongress. Specifically,...Read More
By Marcelo RochabrunLIMA, Oct 27 (Reuters) - Peruvian residents living near MMGLtd's Las Bambas copper mine agreed on Wednesday tolift a road blockade affecting the company's metal shipments,following a public meeting with Prime Minister Mirtha Vasquez.At the meeting, Vasquez said Las Bambas would begintransferring tax funds to the region where the mine is locatedin January, a key demand from resi...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Central banks are at a perilous crossroads as they must deal withrising inflation pressures and make sure that the global economy remains strong.In a recent report, Thorsten Polleit, chief economist at...Read More
WASHINGTON, Oct 27 (Reuters) - White House press secretary Jen Psaki said the White House is not surprised with reporting that shows Facebook (FB.O) is struggling to stay on top of coronavirus and vaccine misinformation on its platform."We have seen the reporting, of course, and ... it is unfortunately, not surprising for us to hear that Facebook knew of these problems," Psaki said.Reporting by...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Orex Minerals (TSX-V: REX) saidtoday that it has received results of the first independent mineral resourceestimate for the Coneto gold-silver project in Durango, Mexico. According to the company'sstat...Read More
ZURICH (Reuters) - The Swiss National Bank (SNB) must retain flexibility on how it invests its massive foreign currency pile, board member Andrea Maechler said on Wednesday, warning a shift to only green investments would hurt its monetary policy.The SNB is a big global investor, with foreign currency assets close to 1 trillion Swiss francs ($1 trillion) acquired during its long campaign to stem t...Read More