The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More

The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

It's that time again.Time for the annual BRICS+ Leaders Summit. The BRICS have hundreds of meetings over the course of the year on every topic from sports to women's issues to agriculture. But there is only one Leaders Summit. That's when the heads of state of the members convene to discuss policy issues and to make announcements of major importance.For those new to BRICS, it's an acronym from the...Read More

Cycles surround us. In markets, astronomy, and our lives.Every day is a circadian cycle for us all. Our bodies move through phases based on our exposure to light or darkness.Markets are also remarkably cyclical, responding to the environment around them. Interest rates, regulation, monetary policy and investor psychology all play important roles.Precious metals are no different. The sector’s...Read More

Allied Gold (TSX: AAUC; US-OTC: AAUCF) is set to begin trading on the New York Stock Exchange starting Monday after obtaining all regulatory approval. The stock will trade under the ticker symbol "AAUC" the same as its Toronto-listed shares.The NYSE listing approval "represents a significant milestone" that reflects the continued growth of Allied's business, the company said in a news release th...Read More

Our friend and colleague Jim Rickards has the energy and drive of a 20-year old. I try to read everything he writes, and watch all his media appearances. But sometimes a gem slips through the cracks.Two months ago, Jim was featured on Daniela Cambone's Youtube show. This was a gem, and luckily a reader alerted us to it.The provocative title is "Jim Rickards: Is the Gold Gone? Did the U.S. Treasury...Read More

Generation Mining (TSX: GENM, US-OTC: GENMF) shares nearly hit a two-year high Friday as it spotlighted Ontario government support for its $990-million capex Marathon copper-palladium project.Located 300 km east of Thunder Bay, Marathon represents Canada's next shovel-ready critical minerals project after receiving its final construction permit last month. It would be one of North America's few pa...Read More

Silver is getting its shine on, with the price reaching $35.64 an oz. on Thursday - a 13-year high after a 24% increase since Jan. 1 and rivalling gold's 29% gain.However, unlike gold, silver benefits not only from a surge in investments into safer assets during times of uncertainty, but also upturns in economic outlook given the metal's use in industrial applications.The Silver Institute forecast...Read More

I was recently browsing through the Daily Reckoning archives and stumbled across a March 2013 piece by our long-time contributor Jeffrey Tucker.The article was titled "Bitcoin’s Moment", and BTC was trading at $93 at the time.Here's an excerpt:"Many people fear that Bitcoin is overpriced right now. This view is held even by people in the Bitcoin community who worry that a move from $15 to $9...Read More

EarthLabs (TSXV: SPOT; US-OTC: SPOFF) has released a new episode of its flagship series EarthLabs Expeditions, offering an up-close look at West Red Lake Gold Mines (TSXV: WRLG, US-OTC: WRLGF) at a pivotal moment in the company's growth.The episode marks a return to northern Ontario where West Red Lake Gold finished its bulk sample program and conducted a first gold pour from the revitalized Madse...Read More

Rio Tinto's (NYSE, LSE, ASX: RIO) departing CEO Jakob Stausholm says he hasn't fallen out with chairman Dominic Barton despite Reuters citing unnamed company officials to the contrary. Management and board remained "absolutely aligned" on the company's values, strategy and performance assessment, Stausholm said Friday, according to Australian media. His successor could "very well be" an internal c...Read More

Heightened state control of natural resources is sweeping across the globe as China limits critical mineral exports and the Trump administration fast-tracks projects. But nowhere is the concept more gripping and volatile than in the high-potential gold mining jurisdictions of West Africa and Latin America. Miners must re-evaluate risk and reward while they dodge ransom attempts and adjust to the...Read More

Marimaca Copper (TSX: MARI; ASX: MC2) has surged by double digits after announcing on Wednesday a $24.4-million (US$17.7-million) private placement to fund its feasibility-stage namesake project in Chile.The offering comprises approximately 5.31 million common shares priced at $4.60 per share, issued exclusively to institutional investors. Two of Marimaca's cornerstone shareholders, Assore Interna...Read More

Aya Gold & Silver (TSX: AYA; US-OTC: AYASF) reported high-grade assays from its Boumadine polymetallic project in Morocco while extending mineralization. The stock surged.Highlight hole BOU-DD25-509 in the Imariren strike zone cut 9.3 metres grading 2.18 grams gold per tonne, 62 grams silver, 1.5% zinc and 0.7% lead from 282.1 metres depth, Aya reported Thursday. In the same zone, hole BOU-DD25-50...Read More

Premier American Uranium (TSXV: PUR, US-OTC: PAUIF) agreed to buy Nuclear Fuels (CSE: NF; US-OTC: NFUNF) to create one of the largest U.S. uranium explorers. Nuclear Fuels stock soared.Nuclear Fuels shareholders will receive 0.33 of a common share of Premier American for each share held, the companies said Thursday in a joint statement. This implies a payment of about 43? per share, which would va...Read More

Americans are taught in school that the Smoot-Hawley tariff legislation of 1930 greatly exacerbated the Great Depression and sent the world spinning off into a decade of debt deflation and economic contraction. This seems to make sense until we remember that the history of the United States over the past century was written largely by progressives. In fact, the Great Depression began in 1920 with...Read More

A Malian court has postponed a ruling for a fourth time on whether to place Barrick Mining's (TSX: ABX; NYSE: B) Loulo-Gounkoto gold complex under provisional administration, delaying the hearing until June 12.The court has given no reasons for the delays. The government wants to take control of the mine that's been embroiled in a legal dispute with the West African nation over taxes and ownership...Read More

Shares of Lynas Rare Earths (ASX: LYC) soared nearly 13% on Thursday to their strongest level in more than two years amid concerns over China's export controls on rare earth elements.As the largest rare earth producer outside China, Lynas is poised to benefit from the global scramble for alternative suppliers. Shares in the Perth, Australia-based company closed at A$9.26 (C$8.24) apiece in Sydney,...Read More

Orla Mining (TSX: OLA; NYSE: ORLA) shares soared to an all-time high after the company released an initial resource for its Camino Rojo deposit in central Mexico that outlines 3.9 million contained gold oz. grading 2.45 grams gold per tonne.The underground deposit hosts 50.1 million measured and indicated tonnes at 10.6 grams silver and 0.25% zinc for 17.05 million oz. silver and 278 million lb. z...Read More

Wherever you are and whatever you're doing, I hope you have a Big, Beautiful Memorial Day weekend. The weather is what it is, so make the best of things. While banks and markets will be closed on Monday, with no regular mail delivery.It's always nice to have a three-day holiday but, at the risk of seeming preachy, don't forget everyone who works in stores and restaurants that remain open. That, an...Read More

Welcome to Trump's disruption world tour.If you think this is going to be quick?If you think this is going to be easy?Think again.If you think Trump cares about Wall Street?If you think Trump cares about the value of the U.S. Dollar?Maybe not.This is a total reboot of the world's monetary and trade order. Things are going to break.And at the risk of sounding like a broken golden record, there's an...Read More

Are we on the brink of an existential war between two nuclear-armed powers? I don't refer to the U.S. and China over Taiwan nor the U.S. and Russia over Ukraine. I'm referring to India and Pakistan. That's the most dangerous corner of the world today. And the answer to the existential question is yes.The immediate cause of the new war between India and Pakistan involving the disputed regions of Ja...Read More