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
April 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening down 2 points on Wednesday, according to financial bookmakers.* BHP: BHP Billiton BHP.AX , BLT.L on Wednesday trimmed its full-year production guidance for iron ore, coking coal and copper due to bad weather at mines in Australia and industrial action in Chile over the last quarter. ROYAL BANK: British Bank Royal Bank of Scotland...Read More
What do you call it when someone takes 100% of your labor by force? Slavery.Slavery is being forced to work against your will for the benefit of your master, your owner. The only reason they own the products of your labor is because they own you. If you had exclusive control over what is done to and with your body, the most basic right of self-ownership, you would not owe anybody your labor.So the...Read More
What do you call it when someone takes 100% of your labor by force? Slavery.Slavery is being forced to work against your will for the benefit of your master, your owner. The only reason they own the products of your labor is because they own you. If you had exclusive control over what is done to and with your body, the most basic right of self-ownership, you would not owe anybody your labor.So the...Read More
Shares in Freeport McMoRan Inc (NYSE:FCX), the world's second largest copper producer, raced out of the gate on Tuesday after the company released first quarter results that showed less damage from problems at its Indonesian operations than previously anticipated.In heavy trade of more than 29m shares by lunchtime Freeport jumped by as much 9.3% affording the counter a $18.98 billion market value...Read More
Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT) jumped Tuesday as it reported a first quarter profit that far exceeded estimates thanks to a long-awaited pick up in sales and improved demand.For the first time in more than two years, the Peoria, Illinois-based company registered an increase in sales in several of the industries it serves, which boosted its revenue and profit...Read More
* STOXX 600 hits 20 month high* AMS jumps after results* Dior up after buyout deal (Adds detail and quotes, updates prices)By Kit ReesLONDON, April 25 (Reuters) - Deal-making and earnings underpinned European stock markets on Tuesday as the focus shifted back to fundamentals and away from politics, for now, with the pan-European STOXX 600 .STOXX index scoring its fifth straight session of gains.Th...Read More
* European shares add to Monday gains, Asia bourses rise* Euro up but off Monday highs, yen retreats* German/French yield gap tightens as politucal risk seen lower* Markets await Trump tax announcement on Wednesday* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, April 25 (Reuters) - World stocks hit record highs on Tuesday, with investors' relief at centrist Emm...Read More
* STOXX 600 up 0.1 pct* France's CAC pauses for breath* AMS jumps after results* Dior up after buyout deal (Adds detail and quotes, updates prices)By Kit ReesLONDON, April 25 (Reuters) - Deal-making and earnings underpinned European stock markets on Tuesday as focus shifted back to fundamentals and away from politics, for now.The pan-European STOXX 600 .STOXX index was up 0.1 percent, on track for...Read More
(Adds company news, futures)April 25 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 18 points on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.2 percent ahead of the cash market open.* WHITBREAD: Britain's Whitbread Plc WTB.L , which runs the Costa Coffee chain and Premier Inn hotels, said it expected the consumer environment to deteriorate next year. VIRGIN...Read More
Investing.com - Gold prices were lower in European trading on Tuesday, edging down for the second straight session as investor sentiment remained skewed toward riskier assets in the wake of the French election results on Sunday.Comex gold futures shed $4.10, or around 0.3%, to $1,273.40 a troy ounce by 2:45AM ET (06:45GMT). Meanwhile, spot gold was at $1,272.30, down 0.2%.The yellow metal lost $11...Read More
April 25 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 18 points on Tuesday, according to financial bookmakers.* BRITAIN/EU: The snap general election called by British Prime Minister Theresa May will reduce the already limited time available to negotiate a Brexit deal, an influential EU lawmaker said on Monday. International Consolidated: Spanish airline Iberia could open a new ea...Read More
There is an old saying that one should never talk about politics or religion. I think that is just a way to make sure people don’t talk about anything productive or eye opening.And I think it is basically the same attitude that makes the New York Times tell us not to “politicize the Federal Reserve.”Yes, I had to do a bit of a double take there as well.The article was written by...Read More
There is an old saying that one should never talk about politics or religion. I think that is just a way to make sure people don’t talk about anything productive or eye opening.And I think it is basically the same attitude that makes the New York Times tell us not to “politicize the Federal Reserve.”Yes, I had to do a bit of a double take there as well.The article was written by...Read More
World number two gold producer Newmont Mining (NYSE: NEM) announced first quarter 2017 results on Monday that show adjusted net income of $133 million or $0.25 per diluted share and a 20% jump in year on year earnings to $566 million.The Denver-based company increased net operating cash flow from continuing operations to $379 million and free cash flow to $199 million, up $322 million from the...Read More
Anglo American's (LON:AAL) iron ore output climbed more than 20% in the quarter ended in March thanks to improved productivity rates at its South Africa's Kumba division and the continued ramping-up of its massive Minas Rio in Brazil.The world's number five diversified miner revealed Monday it produced 14.8 million tonnes of iron ore in the first quarter, up from the 12.3 million tonnes it report...Read More
(Adds company news items, futures)April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 39 points at 7,153 on Monday, according to financial bookmakers, with futures FFIc1 up 1 percent ahead of the cash market open.* ANGLO: Anglo American AAL.L on Monday reported a 9 percent rise in overall production for the first quarter of 2017 compared with 2016, but copper output fell 3 per...Read More
Investing.com - Gold prices were down sharply in European trading on Monday, as investors dumped safe-haven assets after results showed centrist candidate Emmanuel Macron won the first round of the French presidential election.Comex gold futures shed $16.80, or around 1.3%, to $1,272.34 a troy ounce by 2:50AM ET (06:50GMT). Meanwhile, spot gold was at $1,271.20.The yellow metal fell by as much as...Read More
April 24 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 39 points at 7,153 on Monday, according to financial bookmakers.* RIO TINTO: Freeport McMoRan Inc FCX.N collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by U.S. Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta...Read More
The federal ban on cannabis is one of those policies which make living in Americ feel like the dark ages. It wastes tax dollars with enforcement, and it tramples states’ rights to make their own laws.Worst of all though, it threatens legal businesses in states which are pot friendly and threatens the life, liberty, and property of countless individuals who harm no one while using marijuana f...Read More
The federal ban on cannabis is one of those policies which make living in Americ feel like the dark ages. It wastes tax dollars with enforcement, and it tramples states’ rights to make their own laws.Worst of all though, it threatens legal businesses in states which are pot friendly and threatens the life, liberty, and property of countless individuals who harm no one while using marijuana f...Read More