The cost of mining gold for the world's top producers dropped more than 7% in the first three months of the year as most companies ignored the metal price's spike and continued efforts to straighten out their books, a new report shows.According to data compiled by SNL Metals & Mining, the top 17 publicly listed gold companies that reported all-in sustaining costs (AISC) produced the metal at a w...Read More
Afghanistan has deployed security forces to ensure that insurgents fighting to overthrow the government do not benefit from illegal mining of lapis lazuli, the semi-precious blue stone once coveted by Egyptian pharaohs.Illegal extraction of lapis lazuli and other minerals is fuelling the rise of the Taliban in a once peaceful corner of the country.The move comes only a few days after anti-corrupt...Read More
Carrapateena in South Australia is shaping up as a major copper-gold project. In a statement last month, the proponent (OZ Minerals) made clear its commitment to the project. The ore-production rate is to be increased over what was previously planned; work on a decline will commence next month (mining will be underground); and final processing will take place at Whyalla, a regional city approxima...Read More
The copper price was hammered down on Tuesday as a rise in warehouse stocks convinced traders that end-demand in China has not materially improved despite Beijing's economic stimulus.In late New York trade July copper, the most active contract, fell 3.4% exchanging hands for $2.0450 a pound ($4,508 a tonne), more than wiping out Friday's rebound and pushing the metal back into the red for 201...Read More
The World Bank is downgrading its 2016 global growth forecast to 2.4% from the already sluggish 2.9% pace projected in January.According to the latest update by the institution, exporting emerging market and developing economies have struggled to adapt to lower prices for oil and other key commodities, and this accounts for half of the downward revision.Growth in these economies is projected to ad...Read More
Central Africa Republic will be allowed to resume diamond exports after a three-year ban that tried preventing armed groups from financing one of the bloodiest conflicts the region has seen in recent years by illegally selling local gems.The partial lifting of the export ban follows a deal between CAR's government and producers brokered by the United Arab Emirates last March. It will initially ap...Read More
Some of China's resource companies feel they have been misled by investment-seeking Canadian governments about just how difficult it is to establish successful mines in Canada, Ottawa's ambassador to Beijing has warned.That sour note may help to explain declines in Chinese investment in Canada in favour of the United States, and serves as a backdrop to recent diplomatic jousting between the two c...Read More
John Williams explains why he believes the dramatic decline of the U.S. Dollar will be the primary cause for hyperinflation and gives he view on owing gold.Walter J. "John" Williams has been a private consulting economist and a specialist in government economic reporting for more than 30 years. His economic consultancy is called Shadow Government Statistics (shadowstats.com). His early work in eco...Read More
We have Hillary all wrong: Americans hate a politician of the press' imagination. To her detractors, she’s either a bloodless automaton or the devil incarnate. Is it any wonder that she’s guarded? -SalonThis article posted at Salon suggests that much of the criticism aimed at Hillary occurs because she is not a man.As best we can tell, if we are properly following the article, Hillary'...Read More
‘Take that order and throw it the hell out’: Trump reportedly rails against campaign staff for telling surrogates to stop attacking judge ... Donald Trump advised prominent campaign surrogates to go after journalists who ask questions about a Trump University lawsuit and encouraged them to defend him against criticism of his comments about the US district judge presiding over the case....Read More
‘Irritation and anger’ may lead to Brexit, says influential psychologist ... British voters are succumbing to impulsive gut feelings and irrational reflexes in the Brexit campaign with little regard for the enormous consequences down the road, the world’s most influential psychologist has warned. Daniel Kahneman, the Israeli Nobel laureate and father of behavioural economics,...Read More
3 Signs of a Recession Janet Yellen Is Ignoring ... The Fed Chair's upbeat speech glossed over key warning signs. Federal Reserve Chair Janet Yellen was upbeat on Monday in a speech at The World Affairs Council, where she largely dismissed the negative implications of Friday's jobs report, which showed that the U.S. economy added just 38,000 new jobs, the worst monthly reading in nearly six years....Read More
We have Hillary all wrong: Americans hate a politician of the press' imagination. To her detractors, she’s either a bloodless automaton or the devil incarnate. Is it any wonder that she’s guarded? -SalonThis article posted at Salon suggests that much of the criticism aimed at Hillary occurs because she is not a man.As best we can tell, if we are properly following the article, Hillary'...Read More
‘Take that order and throw it the hell out’: Trump reportedly rails against campaign staff for telling surrogates to stop attacking judge ... Donald Trump advised prominent campaign surrogates to go after journalists who ask questions about a Trump University lawsuit and encouraged them to defend him against criticism of his comments about the US district judge presiding over the case....Read More
‘Irritation and anger’ may lead to Brexit, says influential psychologist ... British voters are succumbing to impulsive gut feelings and irrational reflexes in the Brexit campaign with little regard for the enormous consequences down the road, the world’s most influential psychologist has warned. Daniel Kahneman, the Israeli Nobel laureate and father of behavioural economics,...Read More
3 Signs of a Recession Janet Yellen Is Ignoring ... The Fed Chair's upbeat speech glossed over key warning signs. Federal Reserve Chair Janet Yellen was upbeat on Monday in a speech at The World Affairs Council, where she largely dismissed the negative implications of Friday's jobs report, which showed that the U.S. economy added just 38,000 new jobs, the worst monthly reading in nearly six years....Read More
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Mining stocks can be good investments, but you introduce risks that don't exist if you invest in physical gold and silver.I personally did quite well with miners in the early 2000's, but in hindsight a lot of it was simply due to luck.Stay away from the pump & dumpers, and any businesses that associate with them. Watch this week's video to get my current take on gold & silver stocks and the overal...Read More
Canadian miners Goldcorp (TSX:G), (NYSE:GG) and Teck Resources (TSX:TCK.A & TCK.B) (NYSE:TCK) are moving ahead with their new $3.5 billion mine in Chile's Atacama region, with a pre-feasibility study expected to be ready by the second half of 2017.The $3.5 billion mine will mean lower costs and improved capital efficiency - before joining El Morro and Relincho, the estimated costs for each proj...Read More
After four years of depressed prices for most commodities, especially gold, iron ore, coal, copper and oil, the end of the bear market seems closer than ever as raw materials continue to outperform bonds, currencies and equities.Based on the Bloomberg Commodity Index, which tracks returns from 22 raw materials, everything from soybeans to diamonds have experienced an important recovery this year.O...Read More