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

Nobel for Charles Barkley of Economics … If you could summarize Tirole's area of research in a single sentence, it would be about corporations. One might think that corporations are one of the easiest, most natural things for economists to study, but one would be wrong – in fact, many economists wonder why corporations even exist … Notice that Tirole's work on regulation...Read More

To grow cheap marijuana, Italy calls in the army – Italy legalized marijuana for medical use last year, but the high cost of buying legal pot in a pharmacy meant few people signed up. Now, the government has found a solution: get the army to grow it. Starting next year, a high-security lab in a military compound in Florence will grow cannabis for Italy's health care system in an experime...Read More

Nobel for Charles Barkley of Economics … If you could summarize Tirole's area of research in a single sentence, it would be about corporations. One might think that corporations are one of the easiest, most natural things for economists to study, but one would be wrong – in fact, many economists wonder why corporations even exist … Notice that Tirole's work on regulation...Read More

To grow cheap marijuana, Italy calls in the army – Italy legalized marijuana for medical use last year, but the high cost of buying legal pot in a pharmacy meant few people signed up. Now, the government has found a solution: get the army to grow it. Starting next year, a high-security lab in a military compound in Florence will grow cannabis for Italy's health care system in an experime...Read More

Stocks in Dubai crashed 6.5% on Sunday. This was the biggest drop in four months and brings the Dubai Financial Market General Index to its lowest level since July 20, according to Bloomberg. Dubai, which like many Middle East exchanges is open from Sunday to Thursday, led a broad sell-off in Middle East stocks, as markets in Israel, Qatar, and Saudi Arabia also sold off on Sunday. – Busines...Read More

Last year, the U.S. Department of Agriculture (USDA) and the Animal and Plant Health Inspection Service (APHIS) agencies investigated the appearance of what appeared to be GE wheat on an Oregon farm, and concluded that it was an isolated incident. The investigation was closed after 'exhausting all leads,' but new GMO wheat has been detected at the Montana State University's Southern Ag...Read More

Stocks in Dubai crashed 6.5% on Sunday. This was the biggest drop in four months and brings the Dubai Financial Market General Index to its lowest level since July 20, according to Bloomberg. Dubai, which like many Middle East exchanges is open from Sunday to Thursday, led a broad sell-off in Middle East stocks, as markets in Israel, Qatar, and Saudi Arabia also sold off on Sunday. – Busines...Read More

Last year, the U.S. Department of Agriculture (USDA) and the Animal and Plant Health Inspection Service (APHIS) agencies investigated the appearance of what appeared to be GE wheat on an Oregon farm, and concluded that it was an isolated incident. The investigation was closed after 'exhausting all leads,' but new GMO wheat has been detected at the Montana State University's Southern Ag...Read More

Google's Schmidt: Surveillance fears are going to end up breaking the Internet … Sen. Ron Wyden (D-Ore) took the opportunity to slam National Security Agency surveillance work as part of an unacceptable "digital dragnet." But the hour-long session quickly shifted from talk about the digital economy to the risks posed by government surveillance programs to human-to-human communi...Read More

Time For Civil Asset Forfeiture Laws To Meet The Same Fate As Jim Crow … One of the greatest political philosophers, Frederic Bastiat, wrote that the law should exist to protect life, liberty, and property, but unfortunately is often perverted into a means of "legal plunder." In other words, the law is used to legitimize the use of force to deprive people of their wealth. – F...Read More

Google's Schmidt: Surveillance fears are going to end up breaking the Internet … Sen. Ron Wyden (D-Ore) took the opportunity to slam National Security Agency surveillance work as part of an unacceptable "digital dragnet." But the hour-long session quickly shifted from talk about the digital economy to the risks posed by government surveillance programs to human-to-human communi...Read More

Time For Civil Asset Forfeiture Laws To Meet The Same Fate As Jim Crow … One of the greatest political philosophers, Frederic Bastiat, wrote that the law should exist to protect life, liberty, and property, but unfortunately is often perverted into a means of "legal plunder." In other words, the law is used to legitimize the use of force to deprive people of their wealth. – F...Read More

Sukari gold mine, located 700 km from Cairo.Shares in gold producer Centamin (LON:CEY) (TSX:CEE) took off Thursday, climbing as much as 5.5% in early trading to close 1.13% higher as the Egypt-focused miner reported a 10.5% increase in third-quarter output thanks to higher-grade ore mined at its flagship Sukari mine.The company also maintained its full-year production forecast of 420,000 ounces of...Read More

Today's Markets – U.S. Stocks Rally After Fed Minutes Point to Caution on Interest Rates … U.S. stocks soared Wednesday to their biggest single-day gain this year, after meeting minutes from the Federal Reserve suggested the central bank would move cautiously on raising rates. The rally was a sharp reversal from a steep Tuesday drop on worries about international economic growth. U...Read More

Vaccine may be only way to bring Ebola under control in West Africa … As West Africa's Ebola outbreak continues to rage, some experts are coming to the conclusion that it may take large amounts of vaccines and maybe even drugs – all still experimental and in short supply – to bring the outbreak under control … "It may just keep going and going and it might require...Read More

Today's Markets – U.S. Stocks Rally After Fed Minutes Point to Caution on Interest Rates … U.S. stocks soared Wednesday to their biggest single-day gain this year, after meeting minutes from the Federal Reserve suggested the central bank would move cautiously on raising rates. The rally was a sharp reversal from a steep Tuesday drop on worries about international economic growth. U...Read More

Vaccine may be only way to bring Ebola under control in West Africa … As West Africa's Ebola outbreak continues to rage, some experts are coming to the conclusion that it may take large amounts of vaccines and maybe even drugs – all still experimental and in short supply – to bring the outbreak under control … "It may just keep going and going and it might require...Read More

Swiss Gold Initiative Would Hamper SNB Policy, Government Says … Asking the Swiss National Bank to hold a fixed portion of its assets in gold would hinder monetary policy, the government said today. Switzerland will vote on the initiative "Save Our Swiss Gold" on Nov. 30 that would force the central bank to hold at least twenty percent of its assets in gold. It would also forbid th...Read More

We've learned nothing in the Middle East. That isn't going to change. If you thought that two disastrous wars in the Middle East spread over 13 miserable years might cure Washington of its delusion that the next war will solve all our problems, you were wrong. The truth is that the people in power and contending for power have learned nothing. And guess what: two years from now, somebody i...Read More

Swiss Gold Initiative Would Hamper SNB Policy, Government Says … Asking the Swiss National Bank to hold a fixed portion of its assets in gold would hinder monetary policy, the government said today. Switzerland will vote on the initiative "Save Our Swiss Gold" on Nov. 30 that would force the central bank to hold at least twenty percent of its assets in gold. It would also forbid th...Read More