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
NEW DELHI/SHANGHAI - India's Vedanta Ltd has been selling copper concentrate on the spot market from stockpiles at its Sterlite smelter, a company official said, after the facility was forced to stop operating earlier this year amid pollution concerns.The company is disposing of around 70,000 tonnes of copper concentrate that have been lying unused since the closure of the plant, the official told...Read More
NEW DELHI/SHANGHAI - India's Vedanta Ltd has been selling copper concentrate on the spot market from stockpiles at its Sterlite smelter, a company official said, after the facility was forced to stop operating earlier this year amid pollution concerns.The company is disposing of around 70,000 tonnes of copper concentrate that have been lying unused since the closure of the plant, the official told...Read More
* India premiums at $3 versus discount last week* Premiums in China, Hong Kong edge higherMUMBAI/BENGALURU - Gold is trading at premium in India for the first time in more than two months on robust demand following a busy festival week, while a dip in global prices earlier this week helped bullion's appeal in some Asian hubs.Dealers in India, the world's second biggest gold consumer after China, w...Read More
The Philippines will allow nine mines currently halted to resume operations if they correct previous violations of environmental rules, a government official said Friday, in a move that could increase global nickel supply.The mines, six of which are nickel operations, were permanently shut in early 2017 as part of an environmental crackdown on the sector. Environment and Natural Resources Secreta...Read More
The Philippines will allow nine mines currently halted to resume operations if they correct previous violations of environmental rules, a government official said Friday, in a move that could increase global nickel supply.The mines, six of which are nickel operations, were permanently shut in early 2017 as part of an environmental crackdown on the sector. Environment and Natural Resources Secreta...Read More
* State govt demands higher share from sale of ore by NMDC* State govt may auction mine if NMDC refuses - state mining secy* NMDC shares mark biggest single-day fall since Aug. 9NEW DELHI - The government of India's Karnataka state on Friday warned NMDC Ltd that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore...Read More
Investing.com - Gold prices inched up while the dollar slipped on Thursday following reports that China delivered a written response to U.S. trade demand, and that the two nations resumed talks earlier this week to diffuse their trade disputes.Gold futures for December delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange inched up 0.1% at?EUR?$1,211.8?EUR?a troy ounce by...Read More
(Adds share movement, background, analyst comments)By Krishna V KurupNov 15 (Reuters) - India's Yes Bank Ltd YESB.NS shares fell sharply on Thursday, a day after non-executive independent chairman Ashok Chawla resigned, further fuelling the uncertainty over the management of the country's fifth largest private-sector lender.Yes Bank shares fell as much as 9.1 percent to 202.25 rupees, in their b...Read More
* U.S. crude stocks jump 10.3 mln barrels last week - EIA* OPEC, non-OPEC producers need to cooperate - NOC's Sanalla* Darkening economic outlook also a concern (Updates with settlement price, adds commentary, market activity)By Stephanie KellyNEW YORK, Nov 15 (Reuters) - Oil futures rose for the second consecutive session on Thursday after this week's steep losses as U.S. fuel stockpiles declined...Read More
(Repeats Nov 14 story with no changes in text)* Indian government, RBI trying to avoid blow-up at board meeting* Government doesn't want to see RBI Governor Patel quit-sources* Key for government is to create conditions for increased lending* Reserves dispute may be kicked down the road-sourcesBy Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Nov 14 (Reuters) - India's government and its cen...Read More
Nov 16 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, Nov 15 (Reuters) - European shares marched higher on Thursday as oil prices stabilised and mining stocks rallied on hopes that China and the United States may reach a rapprochement to end their long-running trade spat, offsetting bad news in the tech sector.The pan-European STOXX 600 index .STOXX was up 0.2 percent by...Read More
Nov 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of November 14, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Aaditya Foam Industries LLPLOCCRISIL A4+20Reaffirmed Active Tools Pvt LtdPacking CreditCRISIL A4+110Assigne...Read More
* Sees India refined copper consumption around 650,000 T in 2018* Shipments from ASEAN, Japan to fill void left by Vedanta -CEO* Sees import reliance up to 41 pct from previous 28 pct (Adds comment from CEO interview, industry details)By Tom DalySHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, au...Read More
SHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, auto and consumer sectors, the chief executive of one of the country's top copper smelters said on Thursday.The nation's consumption of the metal is expected to rise to 1.433 million tonnes by 2026 from 650,000 tonnes in 2018, Birla Copper CEO J.C....Read More
Athabasca oil sands on the banks of the river, around 1900An alarming discount on Canadian crude has sparked calls for production cuts in the Alberta oil patch.The calls from Cenovus Energy Inc. [CVE-TSX, NYSE] and others have been sparked by the difference between the price of Western Canadian Select bitumen-blend crude and New York traded West Texas Intermediate oil.The differential between West...Read More
Sokoman Iron's Moosehead gold project in central Newfoundland. Source: Sokoman Iron Corp.Sokoman Iron Corp. [SIC-TSXV] shares rallied sharply Friday November 16 as the company released more drill results from its Moosehead gold project in central Newfoundland.The company said it has received assay results for five of seven holes completed to date in the property's Eastern Trend. They are part of a...Read More
Full Article: Not the end of the worldBy: Jeff ThomasPeriodically, I'll encounter someone who has read one of my essays and has decided not to pursue them further, stating, "You're one of those 'End of the world' guys. I can't be bothered reading the writings of someone who thinks we're all doomed. I have a more positive outlook than that."In actual fact, I agree entirely with his latter two comm...Read More
Wages for workers rose to a nearly 10-year high in the second quarter of this year. Inflation continues to rise in the U.S. economy. While that means you see more in your paycheck, ultimately, what this means in simple terms is that your money buys less than it used.In today's economy, it's lunacy to think you'll get ahead by getting a good job and saving money. Your money becomes worth less and l...Read More
“Does this look like a recession to you?”That was the question Fahad Khalid from Jaguar Analytics asked over and over again as he showed visuals of what is going on with our economy.“Seriously, does this look like a recession to you?”This fiery presentation happened at the TradersEXPO conference that I attended in Las Vegas this week. And Fahad’s insights were easily...Read More