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

Beleaguered Anglo American (LON:ALL) said Thursday it has reached a deal to sell its niobium and phosphates businesses in Brazil to China Molybdenum Co. Ltd for $1.5 billion in cash, as part of its ongoing drive to offload noncore assets to reduce debt.The niobium and phosphates division, which consists of mines, plants, processing facilities, chemical complexes and deposits, was considered one o...Read More

The dollar has an opportunity to make history. After three straight years of gains, strategists are forecasting the US currency will be a world beater again in 2016, strengthening against seven of 10 developed world peers by the end of the year. – Median estimate from Bloomberg SurveyTwo data points may establish a trend. Three can confirm the trend - with a margin of error.But what happe...Read More

The European Union always was an American project. It was Washington that drove European integration in the late 1940s, and funded it covertly under the Truman, Eisenhower, Kennedy, Johnson, and Nixon administrations. - TelegraphAmbrose Evans-Pritchard is telling the truth again, or at least part of it, in this most recent column of his. But we find ourselves disagreeing with him on some im...Read More

Germany to launch 1 billion-euro discount scheme for electric car buyers ...Germany is set to launch a new incentive scheme worth about 1 billion euros ($1 billion) to get more consumers buying electric cars as it struggles to meet a target of bringing 1 million of them onto its roads by the end of the decade. The costs of the incentives, similar to those already established in some other European...Read More

The dollar has an opportunity to make history. After three straight years of gains, strategists are forecasting the US currency will be a world beater again in 2016, strengthening against seven of 10 developed world peers by the end of the year. – Median estimate from Bloomberg SurveyTwo data points may establish a trend. Three can confirm the trend - with a margin of error.But what happe...Read More

The European Union always was an American project. It was Washington that drove European integration in the late 1940s, and funded it covertly under the Truman, Eisenhower, Kennedy, Johnson, and Nixon administrations. - TelegraphAmbrose Evans-Pritchard is telling the truth again, or at least part of it, in this most recent column of his. But we find ourselves disagreeing with him on some im...Read More

Germany to launch 1 billion-euro discount scheme for electric car buyers ...Germany is set to launch a new incentive scheme worth about 1 billion euros ($1 billion) to get more consumers buying electric cars as it struggles to meet a target of bringing 1 million of them onto its roads by the end of the decade. The costs of the incentives, similar to those already established in some other European...Read More

Canada's Barrick Gold (TSX, NYSE:ABX), the world's largest producer of the precious metal by output, is claiming victory in its turnaround effort."Barrick is back," executive chairman John Thornton said during the company's annual general meeting, held TuesdayBarrick Gold has reduced its debt load, reshuffle management and sold several assets.Known for his flamboyant statements, he added: "We wil...Read More

Trump's World to watch as Trump outlines his foreign policy ... Critics have accused the Republican front-runner of bigotry and posing a danger to U.S. national security. Many foreign policy and defense advisers say his views are worrying, mingling isolationism and protectionism, with calls to force U.S. allies to pay more for their defense and proposals to impose punitive tariffs on some import...Read More

It became clear that the best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterey, Mexico. – Carrier Air Conditioning spokespersonBack in February, workers at a Carrier air conditioner manufacturing plant in Indianapolis filmed a company spokesman informing employees that 1,400 jobs would be moved to Mexico. The s...Read More

Why the world needs more U.S. government debt ... Are government-imposed restrictions holding back the U.S. economy? In a way, yes: The federal government is causing great harm by failing to issue enough debt. The U.S. generates more income than any other country, and will keep doing so for many years to come. The federal government can generate a lot of revenue by taxing this income — a p...Read More

Trump's World to watch as Trump outlines his foreign policy ... Critics have accused the Republican front-runner of bigotry and posing a danger to U.S. national security. Many foreign policy and defense advisers say his views are worrying, mingling isolationism and protectionism, with calls to force U.S. allies to pay more for their defense and proposals to impose punitive tariffs on some import...Read More

It became clear that the best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterey, Mexico. – Carrier Air Conditioning spokespersonBack in February, workers at a Carrier air conditioner manufacturing plant in Indianapolis filmed a company spokesman informing employees that 1,400 jobs would be moved to Mexico. The s...Read More

Why the world needs more U.S. government debt ... Are government-imposed restrictions holding back the U.S. economy? In a way, yes: The federal government is causing great harm by failing to issue enough debt. The U.S. generates more income than any other country, and will keep doing so for many years to come. The federal government can generate a lot of revenue by taxing this income — a p...Read More

On Sunday, Reservoir Minerals announced it has agreed to be acquired by Nevsun Resources. Adrian Day shares his initial thoughts on the deal.Reservoir Minerals Inc. (RMC:TSX.V, 6.96) announced it has agreed to be acquired by Nevsun Resources Ltd. (NSU:TSX; NSU:NYSE.MKT), which operates the high-grade copper-zinc Bisha mine in Eritrea. Nevsun has a cash balance of US$438 million. Under the terms of...Read More

Environmentalists are up in arms against Nova Scotia's - Canada's biggest Atlantic province - new Mineral Resources Act as they say the legislation won't do enough to prevent mining on privately protected lands, or address concerns about quarries.The act, also known as Bill 149, is the first overhaul of the current rules since 1990 and it was written to support responsible mineral resource m...Read More

Freeport McMoRan (NYSE:FCX), the No. 1 listed copper miner, is cutting its oil and gas workforce by 25% as it struggles to reduce its over $20 billion debt.The US miner loss in the first three months of the year - Freeport's sixth straight quarterly loss - nearly doubled due to limited demand for some of its main commodities, including copper.Freeport expects to post a charge of about $40 million...Read More

Teck Resources (TSX:TCK.B)(NYSE:TCK) reported Tuesday better-than- expected first quarter results, as Canada's largest diversified miner cut costs to offset the impact of weak steelmaking coal, copper and zinc prices.The Vancouver-based company, the No.1 producer of steel-making coal in North America, said overall profit increased 38% to Cdn$94 million (about $74 million), or 16 cents a share, in...Read More

Canada's Barrick Gold (TSX, NYSE:ABX), the world's largest producer of the precious metal by output, swung to a loss in the first three months of the year, as asset sales impacted production and realized gold prices fell.The Toronto-based miner, however, reported quite a progress in terms of cutting its debt and reducing costs, trimmed debt by US$842 million since January. The figure puts Barrick...Read More

Canada's Eldorado Gold (TSX:ELD) (NYSE:EGO) has signed an agreement to sell its 82% stake in the Jinfeng mine in China to a wholly-owned subsidiary of China National Gold Group for US$300 million in cash.The Jinfeng mine is expected to generate 95,000-105,000 ounces of gold this year, as the operation transitions fully into the underground.The company's president and CEO Paul Wright said China N...Read More