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

Ambrose Evans-Pritchard: Why Paul Krugman is wrong … Central banks can always create inflation if they try hard enough … He is wrong that you cannot create inflation when interest rates are at the zero bound, says Ambrose Evans-Pritchard … Professor Paul Krugman is the world's most influential commentator on economic issues by a wide margin. – UK TelegraphDominant Socia...Read More

Waters Warm, and Cod Catch Ebbs in Maine … In the vast gulf that arcs from Massachusetts's shores to Canada's Bay of Fundy, cod was once king. It paid for fishermen's boats, fed their families and put their children through college. In one halcyon year in the mid-1980s, the codfish catch reached 25,000 tons. Today, the cod population has collapsed. Last month, regulators effectiv...Read More

Ambrose Evans-Pritchard: Why Paul Krugman is wrong … Central banks can always create inflation if they try hard enough … He is wrong that you cannot create inflation when interest rates are at the zero bound, says Ambrose Evans-Pritchard … Professor Paul Krugman is the world's most influential commentator on economic issues by a wide margin. – UK TelegraphDominant Socia...Read More

Waters Warm, and Cod Catch Ebbs in Maine … In the vast gulf that arcs from Massachusetts's shores to Canada's Bay of Fundy, cod was once king. It paid for fishermen's boats, fed their families and put their children through college. In one halcyon year in the mid-1980s, the codfish catch reached 25,000 tons. Today, the cod population has collapsed. Last month, regulators effectiv...Read More

There Is No Retirement Crisis … You're probably going to be hearing a lot about a "retirement crisis" over the next few years. And Democrats think they know just what to do about it. Some academics are convinced that Americans aren't saving enough, or being provided enough by the government, to sustain themselves in old age. Many Democrats think their party hasn't adequ...Read More

Olympia rally draws defiant gun owners to protest new edict … A crowd of gun rights activists, many armed, estimated at 1,000 by the Washington State Patrol and at up to 3,000 per a photo gallery caption accompanying The Seattle Times' report, gathered at the State Capitol in Olympia Saturday to collectively declare "I will not comply" with the recently passed Initiative 594. T...Read More

There Is No Retirement Crisis … You're probably going to be hearing a lot about a "retirement crisis" over the next few years. And Democrats think they know just what to do about it. Some academics are convinced that Americans aren't saving enough, or being provided enough by the government, to sustain themselves in old age. Many Democrats think their party hasn't adequ...Read More

Olympia rally draws defiant gun owners to protest new edict … A crowd of gun rights activists, many armed, estimated at 1,000 by the Washington State Patrol and at up to 3,000 per a photo gallery caption accompanying The Seattle Times' report, gathered at the State Capitol in Olympia Saturday to collectively declare "I will not comply" with the recently passed Initiative 594. T...Read More

Corporate transparency … The openness revolution … As multinationals are forced to reveal more about themselves, where should the limits of transparency lie? … Howard Schulz, the head of Starbucks, said last year that "the currency of leadership is transparency." If so, bosses should be feeling ever more qualified to command their troops. Business is being forced to ope...Read More

Sadly, as a result of a new Spanish law, we'll shortly have to close Google News in Spain. Let me explain why. This new legislation requires every Spanish publication to charge services like Google News for showing even the smallest snippet from their publications, whether they want to or not. As Google News itself makes no money (we do not show any advertising on the site) this new approach i...Read More

Corporate transparency … The openness revolution … As multinationals are forced to reveal more about themselves, where should the limits of transparency lie? … Howard Schulz, the head of Starbucks, said last year that "the currency of leadership is transparency." If so, bosses should be feeling ever more qualified to command their troops. Business is being forced to ope...Read More

Sadly, as a result of a new Spanish law, we'll shortly have to close Google News in Spain. Let me explain why. This new legislation requires every Spanish publication to charge services like Google News for showing even the smallest snippet from their publications, whether they want to or not. As Google News itself makes no money (we do not show any advertising on the site) this new approach i...Read More

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits … The measure would alter 40 years of federal law and could affect millions of workers. A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation's most distressed pensio...Read More

Congress will block marijuana legalization in Washington, DC … Congress's massive appropriations bill will likely block a voter-approved marijuana legalization initiative in Washington, DC. The bill "prohibits both federal and local funds from being used to implement a referendum legalizing recreational marijuana use in the District," according to a summary from the House Appro...Read More

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits … The measure would alter 40 years of federal law and could affect millions of workers. A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation's most distressed pensio...Read More

Congress will block marijuana legalization in Washington, DC … Congress's massive appropriations bill will likely block a voter-approved marijuana legalization initiative in Washington, DC. The bill "prohibits both federal and local funds from being used to implement a referendum legalizing recreational marijuana use in the District," according to a summary from the House Appro...Read More

Greek turmoil and China worries spark market sell-off …The FTSE 100 suffered its second-heaviest fall this year, wiping £36bn off the value of the index … Political turmoil in Greece and worries about a violent swing in the Chinese stock market combined to spark a global sell-off in equities … In Greece, the ASE index tumbled 12.8pc, a plunge that was its worst one-day fall...Read More

To deter U.S. from torturing again, those involved should be prosecuted … The publication of the long-awaited summary of the Senate Intelligence Committee report on the CIA's torture provides a useful moment to consider the lessons learned from this sorry chapter in American history and the steps that might be taken to avoid its recurrence. With the truth now told about this blatantly il...Read More

Greek turmoil and China worries spark market sell-off …The FTSE 100 suffered its second-heaviest fall this year, wiping £36bn off the value of the index … Political turmoil in Greece and worries about a violent swing in the Chinese stock market combined to spark a global sell-off in equities … In Greece, the ASE index tumbled 12.8pc, a plunge that was its worst one-day fall...Read More

To deter U.S. from torturing again, those involved should be prosecuted … The publication of the long-awaited summary of the Senate Intelligence Committee report on the CIA's torture provides a useful moment to consider the lessons learned from this sorry chapter in American history and the steps that might be taken to avoid its recurrence. With the truth now told about this blatantly il...Read More