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

It was the time of unraveling. Long afterward, in the ruins, people asked: How could it happen? It was a time of beheadings. With a left-handed sawing motion, against a desert backdrop, in bright sunlight, a Muslim with a British accent cut off the heads of two American journalists and a British aid worker. The jihadi seemed comfortable in his work, unhurried. His victims were broken. Terror is th...Read More

Only a monetary 'nuclear bomb' can save Italy now, says Mediobanca …The OECD has drastically cut its growth forecast for Italy. The depression will drag on though most of 2015. The economy will contract by 0.4pc this year. It will remain stuck in the doldrums next year with growth of just 0.1pc. If so, Italy's public debt will spiral to dangerous levels next year, ever further be...Read More

It was the time of unraveling. Long afterward, in the ruins, people asked: How could it happen? It was a time of beheadings. With a left-handed sawing motion, against a desert backdrop, in bright sunlight, a Muslim with a British accent cut off the heads of two American journalists and a British aid worker. The jihadi seemed comfortable in his work, unhurried. His victims were broken. Terror is th...Read More

Only a monetary 'nuclear bomb' can save Italy now, says Mediobanca …The OECD has drastically cut its growth forecast for Italy. The depression will drag on though most of 2015. The economy will contract by 0.4pc this year. It will remain stuck in the doldrums next year with growth of just 0.1pc. If so, Italy's public debt will spiral to dangerous levels next year, ever further be...Read More

Europe's Weak Because It's Uncompetitive … In the long-running debate over Europe's feeble economic recovery, monetary policy has taken center stage as if printing money to spur demand can solve Europe's troubles. According to two newly released competitiveness reports, the real problem lies elsewhere: labor costs, which have been growing faster than productivity, and underin...Read More

Warren Buffett's company subsidiary is marketing pot-growing spaces … Talk about savvy marketing. Cubic Designs Inc., a subsidiary of Warren Buffett's Berkshire Hathaway Inc., has sent hundreds of fliers to weed dispensaries in Colorado, Washington, and California. "Double your growing space," one flier reads in capital letters, while another page adds, "Grow your prof...Read More

Europe's Weak Because It's Uncompetitive … In the long-running debate over Europe's feeble economic recovery, monetary policy has taken center stage as if printing money to spur demand can solve Europe's troubles. According to two newly released competitiveness reports, the real problem lies elsewhere: labor costs, which have been growing faster than productivity, and underin...Read More

Warren Buffett's company subsidiary is marketing pot-growing spaces … Talk about savvy marketing. Cubic Designs Inc., a subsidiary of Warren Buffett's Berkshire Hathaway Inc., has sent hundreds of fliers to weed dispensaries in Colorado, Washington, and California. "Double your growing space," one flier reads in capital letters, while another page adds, "Grow your prof...Read More

Fragmentation fashion across Europe means German hegemony, if we're lucky … The German people so far remain a bastion of rationalism, holding together as others tear themselves apart. Europe is disintegrating. Two large and ancient kingdoms are near the point of rupture as Spain follows Britain into constitutional crisis, joined like Siamese twins. – TelegraphDominant Social Theme:...Read More

Professional Investors Are Preparing For A Stock Market Crash … It looks like a growing number of professional investors are preparing for a stock market crash, as hedge fund filings for the second quarter show a spike in defensive positions. In particular, legendary billionaire George Soros made a huge bet against the market. He increased his short position on the Standard & Poor's...Read More

Fragmentation fashion across Europe means German hegemony, if we're lucky … The German people so far remain a bastion of rationalism, holding together as others tear themselves apart. Europe is disintegrating. Two large and ancient kingdoms are near the point of rupture as Spain follows Britain into constitutional crisis, joined like Siamese twins. – TelegraphDominant Social Theme:...Read More

Professional Investors Are Preparing For A Stock Market Crash … It looks like a growing number of professional investors are preparing for a stock market crash, as hedge fund filings for the second quarter show a spike in defensive positions. In particular, legendary billionaire George Soros made a huge bet against the market. He increased his short position on the Standard & Poor's...Read More

Don't Let the Dark Ages Happen Here … Last month, Iranian-born Stanford mathematician Maryam Mirzakhani became the first woman to win the prestigious Fields Medal, the highest honor in mathematics. Congratulations are in order. Mirzakhani did her work here in the U.S., which illustrates an unhappy fact: Central Asian scientists are forced to come to the U.S. to do pioneering work because...Read More

The mishandling of the Scottish referendum shows exactly why Westminster is so hated … The political establishment down here in the Westminster village has been stung into hyperactivity by the sudden surge of support for the Yes campaign in Scotland. Without very much discussion with their own parties Ed Milliband and David Cameron have reached a joint conclusion: that Scotland's discont...Read More

Don't Let the Dark Ages Happen Here … Last month, Iranian-born Stanford mathematician Maryam Mirzakhani became the first woman to win the prestigious Fields Medal, the highest honor in mathematics. Congratulations are in order. Mirzakhani did her work here in the U.S., which illustrates an unhappy fact: Central Asian scientists are forced to come to the U.S. to do pioneering work because...Read More

The mishandling of the Scottish referendum shows exactly why Westminster is so hated … The political establishment down here in the Westminster village has been stung into hyperactivity by the sudden surge of support for the Yes campaign in Scotland. Without very much discussion with their own parties Ed Milliband and David Cameron have reached a joint conclusion: that Scotland's discont...Read More

How Europe's low inflation impedes fiscal and structural reform … Europe does not yet have its equivalent of Japan's Abenomics, but Mario Draghi, president of the European Central Bank, pretty much advocated it in his press conference last week. Europe, he said, needs fiscal, monetary and structural policy working together, the three arrows of Abenomics. He acknowledged the ECB's...Read More

New Report: World Leaders Call For Ending Criminalization of Drug Use and Possession and Responsible Legal Regulation of Psychoactive Substances: Former Presidents of Brazil, Chile, Colombia, Mexico, Poland, Portugal and Switzerland Join With Kofi Annan, Richard Branson, George Shultz, Paul Volcker And Others To Make Bold, New Recommendations for Major Paradigm Shift in Global Drug Policy on the R...Read More

How Europe's low inflation impedes fiscal and structural reform … Europe does not yet have its equivalent of Japan's Abenomics, but Mario Draghi, president of the European Central Bank, pretty much advocated it in his press conference last week. Europe, he said, needs fiscal, monetary and structural policy working together, the three arrows of Abenomics. He acknowledged the ECB's...Read More

New Report: World Leaders Call For Ending Criminalization of Drug Use and Possession and Responsible Legal Regulation of Psychoactive Substances: Former Presidents of Brazil, Chile, Colombia, Mexico, Poland, Portugal and Switzerland Join With Kofi Annan, Richard Branson, George Shultz, Paul Volcker And Others To Make Bold, New Recommendations for Major Paradigm Shift in Global Drug Policy on the R...Read More