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
Investing.com - Gold prices edged lower on Friday and posted its worst week since early December as the dollar extended a recovery from three year lows.Gold futures for April delivery settled down 0.17% at $1,330.50 on the Comex division of the New York Mercantile Exchange. For the week, prices were down 1.91%.A stronger dollar makes gold more expensive for overseas buyers. The U.S. dollar index,...Read More
* Euro stocks flat, MSCI world sees 3rd weekly fall in last 4* Dollar higher vs majors, DXY up 1 percent for the week* Seventh weekly rise in U.S. yields in last eight* Gold heading for biggest weekly drop since December* Russia waits on S&P investment grade rating decisionBy Marc JonesLONDON, Feb 23 (Reuters) - A stronger dollar and slightly higher global borrowing costs kept world shares sub...Read More
(Adds company news and futures)Feb 23 (Reuters) - Britain's FTSE futures FFIc1 up 0.03 percent ahead of the cash market open.* WILLIAM HILL: British bookmaker William Hill WMH.L posted an 11 percent increase in annual pretax profit, led by growth in its online business and payout gains from more draws being played on Boxing Day English Premier League soccer games. PHOENIX/STANDARD LIFE: Phoenix...Read More
Feb 23 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 11 points lower at 7,241.4 on Friday, according to financial bookmakers.* TEMENOS/FIDESSA: Temenos's TEMN.S planned 1.4 billion pound ($1.95 billion) takeover of financial software peer Fidessa Group FDSA.L will enable faster sales growth at the British company, Temenos Chief Executive David Arnott told Reuters on Thursday. STOBAR...Read More
* CEO says focus is on productivity* Major miners have reported increased cash, reduced debt* Stronger South African rand creates headwind (Adds detail on Quellaveco, diamonds, update share price)By Barbara LewisLONDON, Feb 22 (Reuters) - Anglo American AAL.L said on Thursday annual earnings rose 45 percent and net debt halved as the miner recovered from a commodities slump, but its share rally...Read More
(Adds company news and futures)Feb 21 (Reuters) - Britain's FTSE futures FFIc1 were down 0.06 percent ahead of the cash market open.* METRO BANK: British lender Metro Bank MTRO.L reported its first annual profit on Wednesday, driven by strong growth in residential mortgages and commercial lending. HOCHSCHILD: Hochschild Mining Plc HOCM.L expects production to double this year as it ramps up outp...Read More
Feb 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 5 points lower at 7,241.9 on Wednesday, according to financial bookmakers.* LLOYDS BANKING: Lloyds Banking Group Plc LLOY.L is set to unveil a 1 billion pound ($1.40 billion) share buyback plan and its three-year strategy, Sky News reported. ROYAL BANK OF SCOTLAND: Britain lawmakers said on Tuesday they have published in full a repo...Read More
(Adds company news and futures)Feb 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 8 points higher at 7,256.1 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.15 percent ahead of the cash market open.* SPORTS DIRECT: British sportswear retailer Sports Direct SPD.L plans to buy back up to 100 million pounds ($139.7 million) of its equity as it seeks to further...Read More
Feb 20 (Reuters) - Britain's FTSE 100 .FTSE index is seen to open 8 points higher at 7,256.1 on Tuesday, according to financial bookmakers.* HSBC HOLDINGS: HSBC Holdings ' HSBA.L 2017 pre-tax profit rose 142 percent as the lender avoided the multi-billion dollar restructuring costs that marred its 2016 results but the profit growth lagged expectations as it took a writedown following U.S. tax cha...Read More
Investing.com - Gold prices pulled back from three-week highs on Friday as the dollar rebounded against a currency basket, but losses were held in check as the dollar remained near multi-year lows.Gold futures for April delivery settled down 0.41% at $1,349.70 on the Comex division of the New York Mercantile Exchange after hitting the highest level since January 25 at $1,364.40 earlier.For the wee...Read More
(Adds company news and futures)Feb 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 30 points higher at 7,264.8 on Friday, according to financial bookmakers, with futures FFIc1 up 0.48 percent ahead of the cash market open.* BGEO: Georgia's BGEO Group Plc BGEO.L , which is planning to split its banking and investment businesses, reported an 8.1 percent rise in full-year profit. BALFOU...Read More
Feb 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 30 points higher at 7,264.8 on Friday, according to financial bookmakers.* VIRGIN MONEY: Virgin Money VM.L formed a rare female chair and chief executive team among Britain's top 350 listed companies by hiring former HSBC HSBA.L executive Irene Dorner as chairwoman. TULLOW OIL: British oil firm Tullow oil TLW.L has picked electrical...Read More
Feb 16 (Reuters) - Stock MarketsNet ChngStock MarketsNet Chng S&P/ASX 200** 5,909.00067.800NZX 50**8,063.334.530 DJIA**25,200.37306.88NIKKEI**21,464.98310.81 Nasdaq**7,256.430112.815FTSE**7,234.8120.84 S&P 500**2,731.2032.57Hang Seng**31,115.43599.83 SPI 200 Fut5,88220.00STI**3,443.5140.65 SSEC**3,199.1589014.20020KOSPI**2,421.8326.64 -------------------------------------------------------...Read More
(Adds company news and futures)Feb 15 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 35 points higher at 7,248.8 on Thursday, according to financial bookmakers, with futures FFIc1 up 0.60 percent ahead of the cash market open.* CONVATEC: British medical devices firm ConvaTec CTEC.L said 2017 profit fell 3.3 percent, bogged down by supply issues at its top two divisions and lower sales...Read More
Feb 15 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 35 points higher at 7,248.8 on Thursday, according to financial bookmakers.* ANTOFAGASTA: Chilean mining company Antofagasta ANTO.L received environmental approval for a major, $1.1 billion revamp of its Los Pelambres copper mine, the regional government of Coquimbo said on Wednesday. GVC/LADBROKES: Online gambling company GVC GVC...Read More
* US Jan CPI forecast at 1.9 pct, core at 1.7 pct* Dollar under pressure ahead of inflation data* European stock markets open higher, US stock futures firm* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Dhara RanasingheLONDON, Feb 14 (Reuters) - The dollar slid to a 15-month low against the yen on Wednesday, while world stock markets found firmer ground ahead of U.S. inflation numbers...Read More
Investing.com - Gold prices continued higher on Wednesday, as investors looked ahead to U.S. inflation data to gauge how it will impact the Federal Reserve's view on monetary policy in the months ahead.Comex gold futures were up around $6.00, or 0.4%, at $1,335.80 a troy ounce by 3:40AM ET (0840GMT). It reached its best level since Feb. 6 at $1,339.40 earlier in the session.Gold futures scored bac...Read More
(Adds company news and futures)Feb 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 37 points higher at 7,213.8 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.1 percent ahead of the cash market open.* PENDRAGON: British car dealership chain Pendragon PDG.L reported on Tuesday an expected 20 percent drop in underlying pretax profit to 60.4 million pounds ($84...Read More
Feb 13 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 37 points higher at 7,213.8 on Tuesday, according to financial bookmakers.* CARILLION: KPMG and other leading accountancy firms face serious questions over their work with failed construction firm Carillion CLLN.L after making millions of pounds out of their relationships with the company, British lawmakers said on Tuesday. BAE SY...Read More
(Bloomberg) -- Asian stocks rose as Japanese equities joined the global rally following a holiday on Monday, amid signs markets are beginning to stabilize after the biggest weekly rout in two years.Shares advanced from Tokyo to Sydney and S&P 500 Index futures were little changed after the gauge posted its biggest two-day advance in 18 months. The 10-year Treasury yield was steady after fallin...Read More