Domestic prices for cold-rolled coil (CRC) in the EU have been largely unchanged over the past week because market activity has been slow, sources told Metal Bulletin on Wednesday March 7."The majority of buyers have booked the volumes they needed and now prefer to wait and see where the market will move," a German trader said.Northern EuropeMetal Bulletin's weekly price assessment...Read More
By Amedee MwarabuKINSHASA, March 7 (Reuters) - Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code that is vigorously opposed by industry, according to the government and mining companies.The announcement followed a nearly six-hour meeting on Wednesday between Kabila and mining executives in Kinshasa about the new code, which will raise taxes and remove a...Read More
"There is going to be a massive monetary/fiscal collision of a type I haven't seen in my lifetime."David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Co...Read More
Sheahan Diamond Literature Reference CompilationThe Sheahan Diamond Literature Reference Compilation is compiled by Patricia Sheahan who publishes on a monthly basis a list of new scientific articles related to diamonds as well as media coverage and corporate announcements called the Sheahan Diamond Literature Service that is distributed as a free pdf to a list of followers. Pat has kindly agreed...Read More
Canada's gold output will increase in the next five years to more than 300 tonnes annually, an 80% growth from current levels, research firm Wood Mackenzie said Wednesday.The rise in production would make the nation the world's second-largest bullion producing country, behind China, Vince Madden-Scott, manager of gold cost services at UK-based research firm said.Speaking at the 2018 Prospectors &...Read More
Economies run in bubbles, they expand and then burst. Is our current economy about to burst? In this episode, Robert & Kim talk to Doug Casey, a contrarian investor with decades of experience building wealth during times of crisis. Find out what you can do to protect your wealth and even build wealth in uncertain times.Doug Casey is an American-born libertarian economist and advocate of the free m...Read More
By Stewart Dougherty"Passivity is fatal to us. Our goal is to make the enemy passive. ... Communism is not love. Communism is a hammer which we use to crush the enemy." Mao Tse-tung, proclaiming the founding of the People's Republic of China, 1949Circumstantial evidence is mounting high that there is something seriously wrong with the amount of gold reportedly owned by the United States governme...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been largely stable over the past week, with buyers remaining in "wait-and-see" mode, sources have told Metal Bulletin.European mills have been offering June-production HRC but buyers have held back from booking significant volumes until the market trend becomes clear for the third quarter of the year.In addition, end-users have not fully tr...Read More
HOUSTON (Reuters) - U.S. Energy Secretary Rick Perry said on Wednesday that he is “not sure” President Trump has finished making up his mind on levying tariffs on imported steel and aluminum.The President wants to protect American workers against countries that engage in unfair trade practices, Perry said, in remarks on the sidelines of the CERAWeek energy conference. He added: “...Read More
Christopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one of the early econobloggers who forecasted the housing market collapse and stock market correction years in advance, Chris rose to prominence with the laun...Read More
The Bank for International Settlements reduced its use of gold swaps and other gold-related derivatives during February, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc280218.pdfThis decrease follows a large increase in the bank's gold swaps in January. In recent months the BIS has been actively trading gold derivatives and the amounts di...Read More
* Estimated mine value has fallen to $400 mln -sources* Sale prospects complicated by new mining code in DRC* ERG aims to reduce $6 bln debt burdenBy Clara Denina and Dasha AfanasievaLONDON, March 7 (Reuters) - Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400 m...Read More
LUXEMBOURG/GENEVA (Reuters) - Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminum.The departure of Gary Cohn, seen as a bulwark against Trump’s economic nationalism, hit shares, oil and the dollar, as investors saw...Read More
Gold mining in Africa has a bad rap - particularly when it comes to women. Depictions of the trade often focus on poverty, environmental destruction, prostitution and harassment. But in the gold mining belt of Mali, one of the world's poorest countries, the victimization lens does great injustice to the hundreds of women mining alongside men.Women working in the mines would be the first to say tha...Read More
Index futures have plunged Tuesday night on news that Gary Cohn, Trump's top economic adviser, is resigning. The selloff has brought the E-Mini futures down to within an inch of triggering a 'mechanical' buy I'd flagged at 2687.00. Ordinarily I'd say jump on it using the precautions I'd advised to set up a low-risk entry point. After all, who the heck is Gary Cohn, anyway? I could not have a...Read More
Domestic prices for heavy steel plate in Southern Europe have increased over the past week, reflecting rising slab costs, sources told Metal Bulletin on Wednesday March 7.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?580-590 ($718-730) per tonne ex-works on Wednesday, up by ?,?10 per tonne week-on-week.The assessment reflected "worka...Read More
- Gold no longer fears or pays attention to Fed announcements regarding interest rates- Renewed interest in gold due to inflation fears and concern Fed won't do enough to control it- Higher interest rates on horizon will make debt levels unsustainable- New Fed Chair warns "the US is not on a sustainable fiscal path" and could lead to an "unsustainable" debt load- Higher interest rates are good f...Read More
South Africa's mining industry and the government are moving closer to resolving a dispute over levels of black ownership that's deterred investment and dragged down growth in the continent's most industrialized economy.The government last year revised its mining charter to require companies to maintain at least 30 percent black ownership, a move rejected by the Chamber of Mines, which sued to sto...Read More
The head of NATO says the alliance's troops will stay in Iraq so long as that's OK with the Iraqi government. Former US Congressman Ron Paul thinks it's time for the alliance to pull out its forces.Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Times bestsellers The Revolution: A Manif...Read More