The U.S. Bankruptcy Court for the Southern District of New York has ruled the Kyrgyz government is in contempt of court for continuing its legal actions locally against Canada's Centerra Gold (TSX: CG; NYSE: CCAU) subsidiary, Kumtor Gold Company (KGC).The Kyrgyz government has revived a slew of previously settled alleged tax and environmental complaints at the Kumtor gold mine before the seizure o...Read More

Chilean miner Antofagasta (LSE: ANTO) saw copper output fall 2.8% to 361,500 tonnes in the first half of 2021 and warned that full-year production guidance, unchanged for now, could be affected by the lack of rainfall in the area where its flagship mine is located.Los Pelambres, located in Chile's Coquimbo region, 240 km northeast of Santiago, is beginning to feel the impact of one of the country'...Read More

With it sights set on taking its 100%-owned Fenix gold project in Chile towards production in the shortest possible timeframe, Rio2 (TSXV: RIO; US-OTC: RIOFF) has arranged a financing of about US$125-$135 million for the mine's construction.The financing package comprises a non-binding term sheet with Wheaton Precious Metals (TSX: WPM; NYSE: WPM; LSE: WPM) for a US$50 million gold purchase agreeme...Read More

The British Broadcasting Corporation has launched a three-part TV series on a "mountain full of treasure," and it's in Scotland. Apart from being bullish for the valuation of Scotland's first gold mine, it is a clear signal that the Northern Hemisphere is starting its silly season.Definitions of 'silly season' are hard to find but in North America this sleepy summer period is known, rather unimagi...Read More

There has recently been a lot of discussion and debate around the possible similarities and differences of gold and Bitcoin (and, by implication, other cryptocurrencies), and this has often included consideration of their relative environmental impacts and, specifically, their carbon footprints.Read full newsRead More

Agnico Eagle Mines (TSX:AEM)(NYSE:AEM) has earned a reputation as a partner of choice within the mining industry, and recognition as a company that operates with respect for others. While the company could not control the day-to-day turmoil of COVID-19, which included the temporary shutdowns, the evolving health and safety protocols, the stay-at-home work orders, the company did control priorities...Read More

While the general mood in the market is one of recovery and growth, not every sector is on the same page. Some, like energy, are finishing their growth sprint and entering the normalization phase, which might turn into a slide down if some external factors are triggered.Real estate, on the other hand, is still maintaining its momentum, but once the housing bubble starts to shrink at a considerable...Read More

Dear Outsider,The economy might be reopening, but it doesn't seem to be recovering.As we saw with earnings last week, cyclical stocks - those tied to a recovering economy - traded lower. That's Caterpillar (NYSE: CAT), General Electric (NYSE: GE), and Boeing (NYSE: BA). And as the Federal Reserve continues its easy money policy, bank shares, including Wells Fargo (NYSE: WFC) and Bank of America (N...Read More

Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More

Fastmarkets is inviting feedback from the industry on the pricing methodology for MB-AL-0005 aluminium pressure diecasting ingot DIN226/A380, delivered Europe, and MB-AL-0040 aluminum alloy A380.1, delivered Midwest, as part of a methodology review process to meet the International Organization of Securities Commissions (IOSCO) principles.This consultation, which is open until August 18, seeks to...Read More

Base metals prices were up across the board at the 5pm close of trading on the London Metal Exchange on Thursday July 22, with the market appearing to calm down after a recent period of choppy trading."Two positive macro dynamics were at work this morning, and have provided the LME base metals with much-needed support," Fastmarkets analyst Andy Farida said on Thursday."The US Dollar Index has star...Read More

The dividend of US55c is payable on September 23 and is the same amount as the previous two quarterly dividends following a 38% boost in February."The declaration and payment of future quarterly dividends remains at the discretion of the board of directors and will depend on the company's financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the...Read More

A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More

Freeport McMoRan's subsidiary PT-Freeport Indonesia (PT-FI) is advancing agreements to expand its Gresik copper smelter and refinery by 30% and plans to up its stake in PT Smelting to a majority interest, the company said. The expansion is targeted for completion by the end of 2023 and will see annual capacity at PT Smelting - in which PT-FI currently has a 39.5% stake - increase by 300,000 tonnes...Read More

Fastmarkets has corrected its alumina index, fob Australia, which was published incorrectly on Tuesday July 20 and Wednesday July 21 due to an index calculation error.On July 20, the alumina index, fob Australia, should have been $289.74 per tonne but was incorrectly published as $289.62 per tonne.On July 21, the alumina index, fob Australia, should have been $291.11 per tonne but was incorrectly...Read More

Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More

Increasing supplies of H2-grade steel scrap have allowed South Korean buyers to obtain the material at lower prices in the week to Thursday July 22, sources told Fastmarkets.Summer maintenance rounds at various Japanese steelmakers have reduced consumption of material in that local market, but the tighter supply and strong demand seen in higher grades such as Shindachi busheling have kept prices f...Read More

Much higher supplies of natural gas, hydrogen, 'green' electricity, and steel scrap will be needed for the development of Direct Reduction Iron-Electric-arc Furnace (DRI-EAF) steelmaking processes in China,Baowu Group said on Thursday July 22."Developing the DRI-EAF steelmaking technologies is an important and inevitable step for the Chinese steel sector to achieve carbon neutrality," Xu Wanren, t...Read More

A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More

Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 22, but have generally recovered from Monday's weakness, suggesting the dip-buying mentality still dominates. Lead prices at fresh highs as German lead producer Berzelius declared force majeure on supply after severe flooding forced it to suspend operations at its Stolberg smelter. United States 10-year treasury yie...Read More