The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More
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
U.S. stocks moved higher at the start of trade Thursday, following the Senate's approval the massive stimulus bill late Wednesday night. The Dow Jones...Read full newsRead More
...what we are now witnessing is completely unprecedented.Read full newsRead More
Stocks are expanding their streak today as measures continue to be taken to combat the economic effects of the coronavirusWhile a record spike in weekly jobless claims put the Dow Jones Industrial Average (DJI) underwater this morning, the blue chip index has more than made up for the dip, rising over 1,000 points by the midway mark. The blue chip index is now eyeing its third-straight win, joi...Read More
Markets are closed on Friday, but there will still be some economic data to unpackThe first full week of April will be relatively scant, with markets closed on Friday for the Easter holiday. There will be just a sprinkling of of economic data for traders to digest throughout the week, including the Job Opening and Labor Turnover Survey (JOLTS) and the Federal Open Market Committee's (FOMC) latest...Read More
Ariana Resources (LSE:AAU) enjoyed a 10% lift on Thursday morning after announcing a watershed dividend payment from one of its subsidiaries. The Turkey-fo...Read full newsRead More
No less than three analysts have cut their price targetsTarget Corp (NYSE:TGT) is pushing through bear notes today, up 2.6% to trade at $93.44 this morning. Yesterday, Target withdrew its first quarter and fiscal year forecast due to the pandemic and delayed its remodeling to help with supplies for those who need it. Today, no less than three analysts have cut their price targets -- the lowest co...Read More
Micron posted third-quarter earnings and revenue that exceeded expectations Semiconductor specialist Micron Technology Inc. (NASDAQ:MU) is brushing off this morning's broad-market selloff after stepping into the earnings confessional. The equity is up 4.7% at $44.50 in pre-market trading after the firm posted fiscal-second quarter profits of 45 cents per share, and $4.80 billion in revenue, exceed...Read More
Delays in upgrades and expansion projects due to measures to stop the spread of covid-19 will negatively tip the scale, say experts.Read full newsRead More
Weekly jobless claims surged to a record 3.28 million last weekFutures on the Dow Jones Industrial Average (DJI) are looking at triple-digit losses at the open, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are also swimming in red ink ahead of the bell. The record-setting surge in weekly jobless claims to 3.28 million is sending stock futures lower, right on the heels of an i...Read More
Germany's Aachen Cathedral has dug out the relics of little-known Saint Corona, patron saint of resisting epidemics, from its treasure chamber and is polishing up her elaborate shrine to go on show once the coronavirus pandemic has passed.Read full newsRead More
Germany's Aachen Cathedral has dug out the relics of little-known Saint Corona, patron saint of resisting epidemics, from its treasure chamber and is polishing up her elaborate shrine to go on show once the coronavirus pandemic has passed.Read full newsRead More
Petra Capital is acting as lead manager and bookrunner to a two-tranche placement priced at 18c per share, a 23.4% discount to yesterday's close. The offer closes tomorrow afternoon.Read More
Through Resolution 28, the agency has suspended the submission of defenses, evidences, oppositions and appeals in administrative proceedings with respect to infraction, occurrence and collection of revenues related to financial compensation for mineral exploration, inspection fee and fines; and any other term established in the Brazilian Mining Code.The suspension will not apply to obligations and...Read More
Share this articleVANCOUVER - SSR Mining Inc. says more than 300 workers will be affected by its decision to suspend operations at the Seabee gold mine in northern Saskatchewan until April 30 due to the threat of COVID-19.Spokesman Michael McDonald says the mine employs about 360 staff on two shifts and they will continue to be paid during the shutdown.About 20 people from each shift will remai...Read More
Share this articleVANCOUVER - Fortuna Silver Mines Inc. says its San Jose silver and gold mine in southwestern Mexico is resuming operations today.In a brief report late Wednesday, it said an illegal blockade of roads in the municipality of San Jose del Progreso that prevented access to the mine has ended.Earlier this week, the Canadian company said a group of people led by the former mayor of S...Read More
Share this articleTORONTO - Centerra Gold Inc. is suspending open pit mining at its Oksut project in Turkey in an effort to slow the spread of COVID-19.The suspension of work at the project starting March 31 is for an initial period of two weeks.However, the gold miner says operations at its Kumtor mine in the Kyrgyz Republic and its Mount Milligan operation near Prince George, B.C., continue fo...Read More
LSE-listed Gem Diamonds has, in line with the Lesotho government’s three-week lockdown to combat the spread of Covid-19, temporarily placed its Letšeng mine on care and maintenance.Lesotho’s national lockdown will start on March 29 and end on April 21.AdvertisementFor the period of the lockdown, only essential maintenance will take place, with security and support staff performi...Read More
(IDEX Online) - Jewelry trade organizations are among 90 US groups urging President Trump to help businesses threatened by the coronavirus The signatories include Jewelers of America, Jewelers Vigilance Committee, the Women's Jewelry Association and the Tri State Jewelers Association."The economic harm from social distancing and mandatory store closures is real. Layoffs and economic hard...Read More
(IDEX Online) - Russian miner Alrosa is auctioning its large diamonds online, with digital scans of each stone, in response to the coronavirus pandemic.Special size auctions of all diamonds weighing over 10.8 carats regularly take place at Moscow, Vladivostok and other international diamond trading centers and attract up to 100 companies from different countries.Because of lockdowns and travel res...Read More
The World Federation of Diamond Bourses (WFDB) has created a World Federation Diamond Trading Platform to provide a secure and reliable source of trading amid uncertain times globally, while promoting trade and healthy competition in the diamond market.The cross-bourse trading platform will be launched soon and will be available for use by all members of the organisation’s bourses.Advertisem...Read More