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

The Link Between Europe's Migrant Crisis and the Climate Change … There's a lot both sides could learn. One of the predominant news stories over the past few months has been the migrant crisis in Europe. Driven by civil wars, refugees from the Middle East and beyond are flowing into the European Union. Over the next 18 months, the UN is expecting more than 1.4 million refugees to arr...Read More

C2 FOR HYBRID WAR: THE MARINES PREPARING FOR COMBAT … Counter-insurgency warfare has been the dominant template dominating U.S military engagements for more than a decade. Joint warfare has been largely defined in terms of the air and naval services supporting the ground forces doing COIN … In a recent article by Francis Tusa, the age of COIN has been decisively replaced by the demands...Read More

The Link Between Europe's Migrant Crisis and the Climate Change … There's a lot both sides could learn. One of the predominant news stories over the past few months has been the migrant crisis in Europe. Driven by civil wars, refugees from the Middle East and beyond are flowing into the European Union. Over the next 18 months, the UN is expecting more than 1.4 million refugees to arr...Read More

C2 FOR HYBRID WAR: THE MARINES PREPARING FOR COMBAT … Counter-insurgency warfare has been the dominant template dominating U.S military engagements for more than a decade. Joint warfare has been largely defined in terms of the air and naval services supporting the ground forces doing COIN … In a recent article by Francis Tusa, the age of COIN has been decisively replaced by the demands...Read More

The Federal Reserve's Shifting Makeup … The professional background of the Federal Reserve's leadership has moved from one that was dominated by bankers to one that is heavily academic … Fed research economists are Ph.D.s by training who worked in the Fed's economic research divisions and typically publish academic research; Fed administrators worked as managers in other as...Read More

Chris Christie calls for Federal Reserve to be audited during GOP candidate debate … Several Republican presidential candidates on Tuesday accused the Federal Reserve of keeping U.S. interest rates low for political reasons, and one called for replacing Fed Chair Janet Yellen. "The Fed should be audited and the Fed should stop playing politics with our money supply," New Jersey Gov...Read More

The Federal Reserve's Shifting Makeup … The professional background of the Federal Reserve's leadership has moved from one that was dominated by bankers to one that is heavily academic … Fed research economists are Ph.D.s by training who worked in the Fed's economic research divisions and typically publish academic research; Fed administrators worked as managers in other as...Read More

Chris Christie calls for Federal Reserve to be audited during GOP candidate debate … Several Republican presidential candidates on Tuesday accused the Federal Reserve of keeping U.S. interest rates low for political reasons, and one called for replacing Fed Chair Janet Yellen. "The Fed should be audited and the Fed should stop playing politics with our money supply," New Jersey Gov...Read More

OECD cuts global growth forecasts amid 'deep concern' over slowdown .. A "deeply concerning" slowdown in trade, particularly with China, will lead to lower global economic growth this year, says the Organisation for Economic Co-operation and Development. Global GDP is now expected to grow by 2.9%, down from 3% forecast in September, but will hit 3.3% in 2016 … The OECD call...Read More

Putin sends 4,000 troops to Syria as he steps up bid to WIPE OUT the evil Islamic State …Vladimir Putin has sent 4,000 troops to Syria to fight ISIS The figure has doubled since Moscow began airstrikes against the notorious terror group at the end of September, according to US officials. They also claimed the number of bases used by Mr Putin's men in the war-torn nation has grown. Hundre...Read More

OECD cuts global growth forecasts amid 'deep concern' over slowdown .. A "deeply concerning" slowdown in trade, particularly with China, will lead to lower global economic growth this year, says the Organisation for Economic Co-operation and Development. Global GDP is now expected to grow by 2.9%, down from 3% forecast in September, but will hit 3.3% in 2016 … The OECD call...Read More

Putin sends 4,000 troops to Syria as he steps up bid to WIPE OUT the evil Islamic State …Vladimir Putin has sent 4,000 troops to Syria to fight ISIS The figure has doubled since Moscow began airstrikes against the notorious terror group at the end of September, according to US officials. They also claimed the number of bases used by Mr Putin's men in the war-torn nation has grown. Hundre...Read More

A quarry picture from Edward Burtynsky.Canadian artist and photographer, Edward Burtynsky, was lauded by the New York Times for his pictures of copper mines.The large panoramic aerial photos by Burtynsky capture the awesome scale of big open pit mines:Open-pit mines are wounds we've inflicted, and the wonderment they excite easily becomes tinged with pangs of remorse or dread. Burtynsky calls that...Read More

How Social Security and Medicare just got stronger … The new federal budget bill President Obama signed into law earlier this week makes some crucial fixes aimed at strengthening the finances of Social Security and Medicare. While some people will receive reduced benefits with these changes, everyone wins when these programs are put on a sounder footing and obvious flaws are remedied. &ndash...Read More

DEA chief Chuck Rosenberg said the idea that marijuana can be used as medicine is a "joke."…"What really bothers me is the notion that marijuana is also medicinal – because it's not … If you talk about smoking the leaf of marijuana – which is what people are talking about when they talk about medicinal marijuana – it has never been shown to be safe...Read More

How Social Security and Medicare just got stronger … The new federal budget bill President Obama signed into law earlier this week makes some crucial fixes aimed at strengthening the finances of Social Security and Medicare. While some people will receive reduced benefits with these changes, everyone wins when these programs are put on a sounder footing and obvious flaws are remedied. &ndash...Read More

DEA chief Chuck Rosenberg said the idea that marijuana can be used as medicine is a "joke."…"What really bothers me is the notion that marijuana is also medicinal – because it's not … If you talk about smoking the leaf of marijuana – which is what people are talking about when they talk about medicinal marijuana – it has never been shown to be safe...Read More

U.S. stocks decline as jobs report looms … U.S. stocks ended Thursday's session modestly lower for a second consecutive day as investors turned cautious ahead of an important employment report due Friday. – MarketWatchDominant Social Theme: The market is in a good place.Free-Market Analysis: Commentators often attribute human-like qualities to stocks and stock markets. The market w...Read More

US accuses Moscow of 'dangerously' worsening Syria war … The United States said that Russia's air war in Syria had "dangerously exacerbated" the conflict, accusing Moscow of seeking to bolster President Bashar al-Assad's regime instead of targeting jihadists. Washington's latest broadside against Russian intervention in Syria came as government troops, emboldene...Read More

U.S. stocks decline as jobs report looms … U.S. stocks ended Thursday's session modestly lower for a second consecutive day as investors turned cautious ahead of an important employment report due Friday. – MarketWatchDominant Social Theme: The market is in a good place.Free-Market Analysis: Commentators often attribute human-like qualities to stocks and stock markets. The market w...Read More