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
Scientists are worried about the Trump administration: His pick for the Environmental Protection Agency doesn't seem interested in protecting the environment, his energy secretary lacks the publication record of his highly academic predecessors, and the president himself once tweeted that global warming is a Chinese hoax. In light of such issues, they're planning a march to advocate the use of sci...Read More
Scientists are worried about the Trump administration: His pick for the Environmental Protection Agency doesn't seem interested in protecting the environment, his energy secretary lacks the publication record of his highly academic predecessors, and the president himself once tweeted that global warming is a Chinese hoax. In light of such issues, they're planning a march to advocate the use of sci...Read More
World number four gold producer Goldcorp (NYSE:GG) announced on Wednesday it's acquiring New Gold's (NYSE:NGD) 4% gold stream on its El Morro project in Chile for $65 million in cash.El Morro is part of a joint venture between Goldcorp and Teck Resources. The Vancouver-based companies merged the El Morro and Relincho deposits in 2015 to create NuevaUnion in the Atacama region of Chile. Goldcor...Read More
Image: Grupo MexicoSouthern Copper Corp (NYSE:SCCO), the world's fifth largest copper producer in terms of output, has plans to increase copper production by two-thirds in just six years thanks to a raft of projects coming on stream towards the latter part of the decade.Last year the company, controlled by diversified resource and infrastructure giant Grupo Mexico, produced 906,000 tonnes of the r...Read More
Rio Tinto (ASX, LON:RIO), the world's second largest miner, delivered strong signs of a long-awaited turnaround in the industry by posting its first gain in annual profit since 2013.Higher iron ore prices boosted Rio's profit 12% to $5.1 billion last year, a significant turnaround from 2015, when it posted its worst underlying earnings in 11 years.The company, which is also the world's No. 2 iron...Read More
(Repeats with no changes to text)By Clyde RussellCAPE TOWN, Feb 8 (Reuters) - It should be a match made in heaven. Developing Africa's vast mineral resources to meet the needs of the resource-hungry economies of China and the rest of Asia.But if there is one message to take away from this week's Mining Indaba conference in Cape Town, it's that there remains a large gap between hopes and reality, a...Read More
* Euro weakens vs dollar, options show big bias for weaker euro* French bond yield spread over Germany widest since late 2012* Wall St set to dip after stocks gain in Europe and Asia* Oil falls on U.S. inventories; strikes push copper higher* Uncertainty pushes gold to three-month high* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVhBy Nigel StephensonLONDON, Feb 8 (Reuters) - Political u...Read More
* European shares up 0.4 pct* Storebrand touches 9-year high on dividend* France's Vinci gains on 2017 forecasts* CAC 40 up 0.5 pct, outperforming peers (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)By Helen ReidLONDON, Feb 8 (Reuters) - European shares edged higher on Wednesday led by mining...Read More
Investing.com - Gold prices fell modestly in European morning trade on Wednesday, but remained supported close to the prior session's three-month high amid growing concerns over political risks in Europe and economic uncertainty in the U.S.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $2.70, or about 0.2%, to $1,233.35 a troy ounce by 3:00AM ET (08:00GMT),...Read More
(Adds company news items and updates futures)Feb 8 (Reuters) - Britain's FTSE 100 futures FFIc1 were up 0.11 percent ahead of the cash market open on Wednesday.* The UK blue chip index .FTSE closed up 0.2 percent at 7,186.22 points on Tuesday, boosted by a weak sterling and a surge in services company DCC DCC.L , while UK mid-caps posted a record closing level. RIO TINTO: Global miner Rio Tinto...Read More
(The opinions expressed here are those of the author, a columnist for Reuters.)By Clyde RussellCAPE TOWN, Feb 8 (Reuters) - It should be a match made in heaven. Developing Africa's vast mineral resources to meet the needs of the resource-hungry economies of China and the rest of Asia.But if there is one message to take away from this week's Mining Indaba conference in Cape Town, it's that there re...Read More
Feb 8 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 8 points lower on Wednesday, according to financial bookmakers.* The UK blue chip index closed up 0.2 percent at 7,186.22 points on Tuesday, boosted by a weak sterling and a surge in services company DCC DCC.L , while UK mid-caps posted a record closing level. RIO TINTO: Global miner Rio Tinto RIO.AX , RIO.L said on Wednesday it wi...Read More
US immigration order strikes against biotech ... We the undersigned, founders and leaders of biotech companies, write to express our deep concern and opposition to the executive order signed by President Donald Trump on January 27, 2017, barring the entry of citizens from seven countries into the United States. The United States is the world's greatest developer of medicines and new inventio...Read More
US immigration order strikes against biotech ... We the undersigned, founders and leaders of biotech companies, write to express our deep concern and opposition to the executive order signed by President Donald Trump on January 27, 2017, barring the entry of citizens from seven countries into the United States. The United States is the world's greatest developer of medicines and new inventio...Read More
The terrifying truth about North Korea’s nuclear weapons ...”North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the US,” President-elect Donald Trump tweeted on January 2. “It won’t happen!” However, the terrifying truth is that North Korea, the only country to have tested nuclear weapons in the 2...Read More
The terrifying truth about North Korea’s nuclear weapons ...”North Korea just stated that it is in the final stages of developing a nuclear weapon capable of reaching parts of the US,” President-elect Donald Trump tweeted on January 2. “It won’t happen!” However, the terrifying truth is that North Korea, the only country to have tested nuclear weapons in the 2...Read More
* Mining stocks began outperforming late 2016* Fundamentals stronger for mining versus oil - analysts* European oil vs mining, monthly returns http://reut.rs/2jGqkBV* BP , Statoil shares hit by earnings disappointmentBy Vikram Subhedar and Barbara LewisLONDON/CAPE TOWN, Feb 7 (Reuters) - Mining stocks are outpacing oil-related peers in a "reflation rally" sparked by U.S. President Donald Trump...Read More
Investing.com - Gold prices were little changed in European morning trade on Tuesday, holding steady near the prior session's three-month high as investors sought the perceived safety of the yellow metal amid growing concerns over political risks in Europe and around the globe.Gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on 25 cents, or less than 0.1%,...Read More
The Philippines mining industry is fighting the government's recent decision to close more than half the country's mines and reduce nickel ore exports, saying it's "illegal and unfair."According to the country's Chamber of Mines, the order to close 23 of the nation's 41 mines and suspend another five not only did not follow standard legal procedures, but used alleged breaches of environmental and...Read More
Shares in Canadian junior Copper One (TSX-V:CUO) soared Monday, climbing as much as 15.4% in midday trading, as the company announced it had begun proceedings against the Quebec Ministry of Forests, Wildlife and Parks (MFFP) in the superior court over a denied permit.The Toronto-based miner said it has reasons to believe the province's Ministry of Energy and Natural Resources (MERN) influenced MFF...Read More