The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
RAPAPORT... Belgium's diamond trade slowed in June, with polished exports down 44% year on year to $469 million, according to data from the Antwerp World Diamond Centre (AWDC). However, the rate of decline eased following heavier drops in April and May, when the global industry shut due to the coronavirus. US orders rose 4% to $173 million in June, indicating a gradual recovery as the importa...Read More
RAPAPORT... Global rough-diamond production fell 7% to $13.48 billion last year, reflecting lower output in Botswana and Canada, according to new data from the Kimberley Process (KP). Production volume slipped 12% to 130.3 million carats, while the average price increased 6% to $103.41 per carat.Russia ranked as the top producer, bucking the negative trend with an increase of 3% to $4.12 bill...Read More
(IDEX Online) - Zimbabwe is poised to offer a diamond stockpile of over a million carats for sale as it seeks foreign currency.It hopes to net up to $100m, according to a report in today's Sunday Mail newspaper.The Minerals and Marketing Corporation of Zimbabwe, which has controlled all the country's diamond sales since 1983, says it plans to hold an auction in the near future, after can...Read More
(IDEX Online) - Botswana, the world's top diamond-producing country by value, is to seek financial help from the International Monetary Fund (IMF) and the World Bank to deal with the consequences of COVID-19.The country is in economic crisis, even though the virus has claimed just one life, on 31 March, and as of today there are just 277 active cases.At least 181 confirmed cases have been tra...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesA delegation of mayors met with the mining commission of the Chamber of Deputies, Chile's lower house, to review the impact of COVID-19, and the dramatic increase in cases in the north in recent weeks.State-owned copper miner Codelco, has throttled back its northern operations, suspending its Chuquicamata smelting operation and dev...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesDrilling hit mineralisation about 40m below the 1,500-foot level of underground exploration drifts. Highlights included an interval of 4.9m grading 2.16 grams per tonne gold, 24.9g/t silver, 2.39% copper, 0.31% lead and 3.27% zinc for 6.2% copper equivalent."The resumption of our phase 1 drill programme … has continued to co...Read More
PRESCOTT, Ariz.- The Prescott National Forest today withdrew its decision to proceed with a controversial mine, the River Bend Placer Mine project, on the Hassayampa River. The withdrawal comes after the Center for Biological Diversity delivered a forceful objection to the project's impacts on the globally imperiled Phillip's agave (Agave phillipsiana), a rare plant domesticated by Native American...Read More
Looking for stocks to buy this month? Here are three suggestions of good stocks to buy now. One is a gold miner, one is in the real estate industry, and the other is a telehealth company.Eldorado GoldTo protect yourself from the unknown, you should consider buying gold stocks. Eldorado Gold (TSX:ELD)(NYSE:EGO) is a good pick in this sector.This mid-cap miner has assets in Canada, Turkey, Greece, R...Read More
A little over a year ago today, Bitcoin and other cryptocurrencies were gathering momentum. Fast forward to the summer of 2020, and Bitcoin has managed to test its 52-week highs. Before this year began, I’d suggested that investors should pour into gold rather than betting on Bitcoin or its digital brethren. Has anything changed now that we have made our way into the second half of this year...Read More
Newmont Lake project site. Image by Crystal Lake Mining via Instagram. Enduro Metals (previously Crystal Lake Mining) has announced assay results for drill core extracted by a previous operator from its 551-sq.-km Newmont Lake project in the Golden Triangle; the company also released the results of one hole recently completed at the property in British Columbia.The previously unsampled core retu...Read More
Fruta del Norte, discovered in 2006, is one of the world's biggest recent gold findings. (Image courtesy of Lundin Gold) Lundin Gold has restarted operations at its Fruta del Norte (FDN) gold mine in Ecuador and expects to resume concentrate shipments in the next few days.Operations at the site were suspended in March due to the covid-19 pandemic. Based on a projected mill ramp up to 3,500 t/d o...Read More
The Marigold mine in Humboldt County, Nevada. Image courtesy of SSR Mining. SSR Mining (NASDAQ, TSX: SSRM) announced Monday that its Marigold mine in Nevada has achieved another major milestone, reaching production of 4 million ounces of gold on June 30, 2020. The Marigold mine, located on the Battle Mountain-Eureka trend in Humboldt County, Nevada, has been in continuous operation since 1989. La...Read More
RCT - Reliable partnership Credit: RCT RCT, a company specializing in smart technology, has announced a partnership with Reliable Industries, a U.S.-based supplier of equipment and parts, to provide technology solutions for mobile equipment worldwide.As part of the partnership, RCT will manufacture its foundation products, including the Muirhead protection systems, its Smartrack Global industria...Read More
Image by Vilve Roosioks from Pixabay. Each year the Geological Society of America (GSA) recognizes outstanding scientific achievement and distinguished service to the geoscience profession.In a typical year, honorees are recognized at the Presidential Address and Awards Ceremony as part of the Society's Annual Meeting. During the pandemic, the meeting has transitioned to an online event for scien...Read More
Here are five Fastmarkets stories you might have missed on Monday July 6 that are worth another look.A deadly border clash which began in the cold and windy highlands of Ladakh, in northeastern Kashmir, has spilled over into steel trading between China and India.China's infrastructure spending has aided the steel market's recovery from the effects of Covid-19 shutdowns and is very likely to facili...Read More
Konkola Copper Mines (KCM) has predicted an impending collapse of a portion of its Nchanga open-pit copper mine in Zambia after a series of geotechnical assessments found some slope instability.Preliminary indications have shown that the slough, or caving in of ground, will be confined to a stretch of around 350 meters, the Zambian copper producer said, putting the estimated area and volume of the...Read More
Jack ChanPosted Jul 6, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal. Short-term signals can last for days and weeks and are more suitable for traders.Our ratio is on BUY signal.GLD has resistance at 170.$HUI broke resistance.Next major resistance at 525.GDX has major resista...Read More
The three-month nickel price on the London Metal Exchange was the standout performer at the close of trading on Monday July 6, with turnover at its highest since June 2, while copper futures similarly found momentum over the afternoon, closing above nearby resistance.Nickel's underlying price on the LME closed at $13,336 per tonne on Monday afternoon, climbing from an intraday low of $12,985 per t...Read More