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

Semafo (TSX: SMF; US-OTC: SEMFF) kicked off the year by delivering an inferred resource of 2.1 million tonnes grading 5.35 grams gold per tonne for 361,000 contained oz. gold for its Bantou Zone project, 170 km south of its producing Mana mine in Burkina Faso, the West African nation's third-largest gold mine.News of the maiden resource estimate was followed by Semafo's acquisition in May of Savar...Read More

At The Northern Miner's Canadian Mining Symposium, held at Canada House in London, U.K., Iamgold (TSX: IMG; NYSE: IAG) president and CEO Steve Letwin and Yamana Gold (TSX: YRI) executive chairman Peter Marrone participated in a panel session entitled "Mid-Tier Excellence," with Northern Miner senior staff writer Trish Saywell as moderator. Below is the full transcript of the session, held on May 2...Read More

The world’s largest diamond miner by volume, Russia’s Alrosa, has sold about $700-million worth of diamonds less in the first five months of this year, than in the same period last year, highlighting the pressure that the diamond market is under amid a supply glut.Sales for the January to May period amounted to $1.59-billion, comprising rough diamonds of $1.56-billion and polished diam...Read More

Altech ticks boxes on path to production SPONSOREDaltech chemicalsState copper company Codelco saw a 14.4% fall in production to 500,000t from 584,000t a year ago, with declines recorded across its portfolio of operations.The BHP-controlled Escondida also saw a 15% fall in production to 367,000t from 432,000t in the 2018 period, while Collahausi saw a 7.6% decline to 167,000t. The Los Pelambres mi...Read More

What are the three elements of the perfect political and market storm I see coming together this fall?The first is an effort by the Democratic House of Representatives to impeach President Trump. The second is the socialist-progressive tilt in the 2020 presidential election field. The third is the fallout from the Mueller report and the Russia collusion hoax - what I and others called "Spygate."Th...Read More

People often refer to the "perfect storm." A perfect storm is generally understood as two or more events that are independent but converge to produce an outcome much worse than either event alone.The term is an overused clich?(C), and as a writer I avoid clich?(C)s whenever possible. But though rare, perfect storms do exist. The most common example is the devastating 1991 storm popularized by the...Read More

QE (Quantitative Easing) 'til Infinity is here.Just last month, I told you that "there is a good case to be made that April could be the bottom for the gold price, leading to a seasonally strong June through September."That was on May 12, 2019. Here's a chart showing what's happened since.This latest rally has been met with the kind of skepticism that makes my contrarian heart smile.Much like the...Read More

Over 1 million Hong-kongers (according to the organizers; 240K according to the police), or one in seven, flooded Hong Kong's streets on Sunday to oppose a proposed extradition bill that would allow Beijing to take people from Hong Kong to stand trial in mainland China.Read full newsRead More

...and it will have knock-on effects in the EU as well.Read full newsRead More

Chinese incentives and regulations steering towards nickel-bearing NCM and NCA cathodesRead full newsRead More

What's better than GOLD?In the wake of two mega-mergers that have reset the gold industry, one small detail has delighted Mark Bristow, Barrick Gold Corp.'s chief executive officer: His company's ability to secure the rights to trade its stock under the ticker GOLD in New York.Barrick and newly merged Newmont Goldcorp Corp. are in a race to lure back generalist investors who fled the gold sector y...Read More

What's better than GOLD?In the wake of two mega-mergers that have reset the gold industry, one small detail has delighted Mark Bristow, Barrick Gold Corp.'s chief executive officer: His company's ability to secure the rights to trade its stock under the ticker GOLD in New York.Barrick and newly merged Newmont Goldcorp Corp. are in a race to lure back generalist investors who fled the gold sector y...Read More

The Democratic Republic of Congo's state-owned mining company rejected allegations that there are discrepancies in its financial statements, saying it paid $263 million in tax advances over a five-year period.Congo is the world's biggest miner of cobalt, used in rechargeable batteries for electric vehicles, and Africa's main copper producer. State miner Gecamines has often faced criticism for its...Read More

The Democratic Republic of Congo's state-owned mining company rejected allegations that there are discrepancies in its financial statements, saying it paid $263 million in tax advances over a five-year period.Congo is the world's biggest miner of cobalt, used in rechargeable batteries for electric vehicles, and Africa's main copper producer. State miner Gecamines has often faced criticism for its...Read More

A paper published in the journal Resources Policy states that bonus schemes for middle management employees in mining companies play a role in tailings dams failures.According to the research article, such compensation packages actively encourage managers to cut costs and increase production, as the material decisions that put into motion such measures lay in their hands and positive results would...Read More

A paper published in the journal Resources Policy states that bonus schemes for middle management employees in mining companies play a role in tailings dams failures.According to the research article, such compensation packages actively encourage managers to cut costs and increase production, as the material decisions that put into motion such measures lay in their hands and positive results would...Read More

A paper published in the journal Resources Policy states that bonus schemes for middle management employees in mining companies play a role in tailings dams failures.According to the research article, such compensation packages actively encourage managers to cut costs and increase production, as the material decisions that put into motion such measures lay in their hands and positive results would...Read More

Ladies and Gentlemen, we have a tie! The current expansion already goes on 120 months, the same as the economic boom lasting from March 1991 to March 2001. However, in the previous edition of the Market Overview, we suggested that the current expansion still has room to run. After all, the ongoing boom is very long, but this is because it is very weak. If the US economy is to replay the robust rec...Read More

Ladies and Gentlemen, we have a tie! The current expansion already goes on 120 months, the same as the economic boom lasting from March 1991 to March 2001. However, in the previous edition of the Market Overview, we suggested that the current expansion still has room to run. After all, the ongoing boom is very long, but this is because it is very weak. If the US economy is to replay the robust rec...Read More

As we close out another week, I'm currently in Toronto, the mining finance capital of the world. But at the moment, all eyes are on the Toronto Raptors, now the most valuable sports franchise in Canada as they make their way through the NBA Finals.The whole country of Canada has rallied around this international team, which has players from all over and whose main superstar, Kawhi Leonard, previou...Read More