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

The Dow has traded in a 280-point range todayThe Dow Jones Industrial Average (DJI) is down at midday, pivoting lower to surrender modest early gains. Despite optimism stemming from a rally in Chinese markets, the volatility that has come to define this month has flared up once again, with the blue-chip index exploring a280-point trading range on both sides of breakeven today. The S&P 500 Index (...Read More

BIIB is currently trading near its year-to-date breakeven levelShares of Biogen Inc (NASDAQ:BIIB) are hovering around breakeven today at $318.97, as traders gear up for the company's third-quarter earnings report. The pharma name is scheduled to report before the market opens this Tuesday, Oct. 23, and speculative traders are banking on a much bigger-than-usual post-event price swing for BIIB sto...Read More

RIO DE JANEIRO, Oct 22 - Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its chief executive officer said on Monday.Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in the miner over the medium term. Previ had previously announced...Read More

STOCKHOLM, Oct 22 (Reuters) - Swedish battery manufacturing startup Northvolt has partnered with South Bay Solutions, a Tesla supplier, to jointly set up a plant in Poland to produce battery systems for energy storage companies and the mining industry.Northvolt's plans are seen as a central part of Europe's effort to compete with Asian rivals such as CATL, Samsung and LG Chem, which have gained a...Read More

BMY shares have been absolutely obliterated this monthIt's been a horrible month for Bristol-Myers Squibb Co (NYSE:BMY). The shares had been on a strong uptrend since hitting a bottom near $50 back in June, and touched a near-term peak of $63.69 on Oct. 9. Since then, however, the stock has been plagued by heavy selling pressure, closing Friday at $54.30 -- meaning it had shed roughly 15% since th...Read More

The chip concern is slated to report earnings later this weekShares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are higher in early trading, with help from a pair of price-target hikes. Ahead of AMD's expected earnings release on Wednesday, Oct. 24, BMO and UBS lifted their targets on the shares to $20 and $25, respectively. Separately, software firm Acceleware announced a $2.5 million deal to pr...Read More

South Africa's Petra Diamonds (LON:PDL) increased sales by more than a fifth in the first quarter of its financial year, as higher production, better quality stones and a weakening of the rand offset a slump in the price of the precious rocks it mines.Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compa...Read More

South Africa's Petra Diamonds (LON:PDL) increased sales by more than a fifth in the first quarter of its financial year, as higher production, better quality stones and a weakening of the rand offset a slump in the price of the precious rocks it mines.Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compa...Read More

South Africa's Petra Diamonds (LON:PDL) increased sales by more than a fifth in the first quarter of its financial year, as higher production, better quality stones and a weakening of the rand offset a slump in the price of the precious rocks it mines.Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compa...Read More

FRANKFURT/MOSCOW, Oct 22 - Germany's BASF and Russian miner Norilsk Nickel (Nornickel) have struck a nickel and cobalt supply deal to meet growing demand for electric vehicle (EV) batteries.Underpinned by a new BASF cathode plant in Finland, the agreement could provide fresh impetus to European efforts to create battery cell manufacturing capacity in a market dominated Chinese and Korean producers...Read More

FRANKFURT/DUESSELDORF, Oct 22 - ArcelorMittal, the world's largest steelmaker, has declared force majeure for its Duisburg-Ruhrort site in Germany due to the Rhine river's low water levels, a spokesman for the group said in e-mailed comments on Monday."The currently low water level of the Rhine means that the company has adjusted production in Ruhrort to reflect lower pig iron supplies from Thysse...Read More

Chinese stocks just had a huge sessionDow Jones Industrial Average (DJI) futures are trading above fair value this morning, signaling a nearly triple-digit jump for the blue-chip index. Stocks look set to follow the lead of their Chinese counterparts, which soared thanks to reports the country could introduce new stimulus measures, while President Xi also promised to support the private sector. Ba...Read More

CMG appears to have found support at its 160-day trendlineThe shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) are 1.7% higher before the open, after RBC upgraded the restaurant stock to "outperform" from "sector perform," while boosting its price target to $510 from $450. The analyst in coverage likes Chipotle's menu innovation and digital initiatives, as well as its commitment to improving res...Read More

How to (carefully!) play a negative sentiment extreme in the options market"...put open interest at the SPY 280 strike was huge, and a break of this level proved devastating for bulls, as selling accelerated under heavy futures selling."...If the SPY remains above 272 and, better yet, 275, time is on the side of the bulls, as short-covering related to put open interest at these strikes and below c...Read More

Migrants used wooden-handled hooks and shoes fitted with spikes to scale the dangerous razor-wired fence...Read full newsRead More

Brazil's Vale expects the EV revolution to boost battery market nickel demand to as much as 700,000 tons in 2025, from just 36,000 tons this year.Read full newsRead More

Yet anotherRead full newsRead More

...complacency across all 'risk-off' assets had reached epidemic levels as equities broke out to new highs... Then the calendar rolled over to October and everything changed...Read full newsRead More

Canada's RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, said Monday the first mobile diamond drill has arrived at site and underground drill crews have started the exploration program at the site.The Toronto-based miner said, set to release third-quarter production results to this...Read More

Canada's RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, said Monday the first mobile diamond drill has arrived at site and underground drill crews have started the exploration program at the site.The Toronto-based miner said, set to release third-quarter production results to this...Read More