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

Brazil's Vale (NYSE:VALE), the world's No.1 iron-ore producer, saw a slight decline in second-quarter output, but still managed to beat analysts' estimates, keeping a new annual production record in sight.The Rio de Janeiro-based miner said it produced 86.8 million tonnes of iron ore in the April-to-June period, down 2.8% from a year earlier, when it hit a record high.Compared with the first quart...Read More

Behind The CIA Desperate Turkey Coup Attempt Column ... On the evening of July 15, a group of Turkish army officers announced that they had staged a military coup d'etat and had assumed control of the country. They claimed that Erdogan was in a desperate flight for his life and that they were now in the process of restoring order ... Behind the coup attempt is a far more dramatic story of the huge...Read More

Behind The CIA Desperate Turkey Coup Attempt Column ... On the evening of July 15, a group of Turkish army officers announced that they had staged a military coup d'etat and had assumed control of the country. They claimed that Erdogan was in a desperate flight for his life and that they were now in the process of restoring order ... Behind the coup attempt is a far more dramatic story of the huge...Read More

Source: Capital Economics - July 19, 2016.Source: Capital EconomicsThere was a general pullback in industrial metals and mining on Wednesday on the back of a stronger dollar and lingering worries about global growth. But the dip doesn't mean that the upward momentum is now broken.There hasn't been a lack of skeptics about prospects for the sector and at the start of the year producers themselves m...Read More

Shares in Newmont Mining was trading higher after hours on Wednesday after the company announced second quarter results that beat analysts estimates.Following a broad-based sell-off for gold miners during regular trade on the back of a weaker gold price, Newmont shares added 1.8% after the release of its financials. The company is now worth $20.7 billion on the New York Stock Exchange after risi...Read More

Shares in Anglo American (LON:AAL) collapsed Wednesday after the miner cut its annual target for copper due to heavy snow at its Los Bronces operation in Chile, and also revealed output declines in almost all the commodities it mines.The stock was under pressure on Wednesday, trading 10.31% down to 729.7p at 1:40 pm GMT, the most it has fallen in more than three weeks, following Anglo's announceme...Read More

Chris Christie Made a Case Against Hillary Clinton. We Fact-Checked. ... ... Gov. Chris Christie of New Jersey, whom Donald J. Trump passed over to be his running mate, was one of the stars of the Republican convention's second night on Tuesday, delivering a detailed case against Hillary Clinton with a prosecutorial zeal ... Like many indictments, the facts presented to the Republican jury were so...Read More

Global elites must heed the warning of populist rage ... Real income stagnation over a longer period than any since the war is a fundamental political fact. -Financial TimesThis article acknowledges that globalism is failing but then concludes if it does that Western civilization will end as well.We entirely disagree with this argument, but we see why it is being made.In fact, we predicted it last...Read More

Chris Christie Made a Case Against Hillary Clinton. We Fact-Checked. ... ... Gov. Chris Christie of New Jersey, whom Donald J. Trump passed over to be his running mate, was one of the stars of the Republican convention's second night on Tuesday, delivering a detailed case against Hillary Clinton with a prosecutorial zeal ... Like many indictments, the facts presented to the Republican jury were so...Read More

Global elites must heed the warning of populist rage ... Real income stagnation over a longer period than any since the war is a fundamental political fact. -Financial TimesThis article acknowledges that globalism is failing but then concludes if it does that Western civilization will end as well.We entirely disagree with this argument, but we see why it is being made.In fact, we predicted it last...Read More

BHP Billiton (NYSE:BHP) announced Tuesday the company exceeded full year 2016 production guidance for petroleum, copper and metallurgical coal, but came in slightly below its iron ore production target.The suspension of its Samarco joint venture with Vale saw BHP's output on attributable basis miss its revised target by 2 million tonnes at 227 tonnes for the year to end June. The world's numb...Read More

Trevali Mining (TSE: TV) jumped 5.1% on Tuesday after the company announced expansion of high-grade silver-lead-zinc mineralization at the Magistral North and Oyon Zones at its Santander zinc mine in Peru.In lunchtime trade on the Toronto Stock Exchange the Vancouver-based mid-tier producer was trading at its highs for the day amid a generally weak day for mining stocks. Around 1 million share...Read More

Canadian companies paid a total of US$32.6 billion for foreign businesses in the Energy, Mining & Utilities (EMU) sector during the first half of the year, which represents a 100.6% rise in value over the total paid in the same period last year, a new report released Tuesday shows.The volume of deals, however, dropped by nearly half in the first six months of the year from 31 transactions in 2015,...Read More

Mick Davis' X2 Resources, the mining fund once touted as the driver of much-needed investment into the mining industry during the worst of the commodities price rout, is set to go under major changes after failing to close a single deal since launched in 2013.Rumours circulated early this year that X2 had lost backers and was facing a looming overhaul. But it wasn't until the WSJ.com reported Fri...Read More

Hillary Clinton said Monday that Donald Trump, the presumptive Republican nominee, was the most dangerous presidential candidate in the history of the United States. -CNNClinton, in an interview with CBS News’ Charlie Rose, believes Donald Trump has “no self-discipline, no self-control, no sense of history, no understanding of the limits of the kind of power that any president should i...Read More

The trouble with Trump and national security ... Trump is consistent only in his inconsistency on national security issues ... There are the growing challenges abroad — the rising threat of ISIS, the resurgence of al Qaeda, the menace of Putinism and a newly aggressive China, all of which should mean the party historically most trusted on national security would make the crumbling world a sp...Read More

Hillary Clinton said Monday that Donald Trump, the presumptive Republican nominee, was the most dangerous presidential candidate in the history of the United States. -CNNClinton, in an interview with CBS News’ Charlie Rose, believes Donald Trump has “no self-discipline, no self-control, no sense of history, no understanding of the limits of the kind of power that any president should i...Read More

The trouble with Trump and national security ... Trump is consistent only in his inconsistency on national security issues ... There are the growing challenges abroad — the rising threat of ISIS, the resurgence of al Qaeda, the menace of Putinism and a newly aggressive China, all of which should mean the party historically most trusted on national security would make the crumbling world a sp...Read More

According to a new study by the UN's Conference on Trade and Development some commodity dependent developing countries "are losing as much as 67% of their exports worth billions of dollars to trade misinvoicing".Trade misinvoicing - when export and import data between two countries do not align - is thought to be "one of the largest drivers of illicit financial flows from developing countries, so...Read More

A structural problem detected at the rather new London Metal Exchange (LME) offices in Finsbury Square, has forced traders to momentarily relocate to a Chelmsford business park, east of London.The exchange, where $12 trillion of copper and other metals change hands each year, is one of Europe's last open outcry trading floors.The bourse, the world's oldest and largest market for industrial metals...Read More