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
Private equity firm Waterton Global Resource Management, which now owns about 7% of Hudbay Minerals (TSX, NYSE: HBM) said Friday it would call a special shareholder meeting of the Canadian base and precious metals miner after it refused its proposal for board changes.Waterton is asking Hudbay to replace some members of its board, as well as agree to a moratorium on acquisitions.Waterton is asking...Read More
Private equity firm Waterton Global Resource Management, which now owns about 7% of Hudbay Minerals (TSX, NYSE: HBM) said Friday it would call a special shareholder meeting of the Canadian base and precious metals miner after it refused its proposal for board changes.Waterton is asking Hudbay to replace some members of its board, as well as agree to a moratorium on acquisitions.Waterton is asking...Read More
NAIROBI, Oct 19 (Reuters) - Kenya plans to set up a gold refinery to help small scale miners in the west of the country, the Petroleum and Mining Ministry said on Friday, and the government is seeking consultants to advise on its construction.Kenya has proven deposits of titanium, gold and coal but its mining sector is a relatively small contributor to national output. However, revenues are expect...Read More
NAIROBI, Oct 19 (Reuters) - Kenya plans to set up a gold refinery to help small scale miners in the west of the country, the Petroleum and Mining Ministry said on Friday, and the government is seeking consultants to advise on its construction.Kenya has proven deposits of titanium, gold and coal but its mining sector is a relatively small contributor to national output. However, revenues are expect...Read More
NAIROBI, Oct 19 (Reuters) - Kenya plans to set up a gold refinery to help small scale miners in the west of the country, the Petroleum and Mining Ministry said on Friday, and the government is seeking consultants to advise on its construction.Kenya has proven deposits of titanium, gold and coal but its mining sector is a relatively small contributor to national output. However, revenues are expect...Read More
China's economy grew at 6.5% YoY in Q3, lower than expected and the weakest growth since Q1 2009. Industrial Production also slowed more than expected as the shift toward financial stimulus is failing...Read full newsRead More
F shares just hit another low Ford Motor Company (NYSE:F) is trading down 1.4% at $8.40, earlier hitting a nearly nine-year low of $8.19, after Morgan Stanley downgraded the automaker to "equal weight" from "overweight" and dropped its price target to $10 from $14. The brokerage firm cited uncertainty around the company's restructuring process and suggested the stock's dividend was at risk. This...Read More
STOCKHOLM, Oct 19 (Reuters) - Sweden's Atlas Copco reported lower than expected third-quarter orders on Friday and forecast softer demand for the remainder of the year, sending shares in the industrial equipment maker tumbling.The sector has been under pressure in recent months due to worries over slowing global growth, not least in China where purchasing managers indices and auto sales have slipp...Read More
Get ready for an influx of pot stock profits.On October 17th, marijuana will be 100% legal in Canada.That's sparking a new wave of IPOs. And shares could surge 501% - 1,364% in the coming weeks - just like the recent weed stock IPOs.One investor's research has uncovered a secret way to access red hot IPO shares.Click here right now for details on this urgent trading situation.Canada is the first c...Read More
A key festival brought little activity to the physical gold market in India this week as purchases remained significantly lower than normal with domestic prices jumping to the highest in more than two years.Demand in India, the second biggest gold consumer after China, usually strengthens towards the end of the year during the traditional wedding season and major festivals including Diwali and Dus...Read More
Streaming stock ROKU also got an upgradeWalt Disney Co (NYSE:DIS) is trading up 1.4% this morning at $117.75 and earlier hit a three-year high of $118.13 after a bull note out of Barclays. The firm upgraded the blue chip to "overweight" from "equal weight" and boosted its price target to $130 from $105, representing all-time-high territory and a 12% premium to last night's close at $116.18. Barcla...Read More
The online payment concern is paring some of its October lossesShares of PayPal Holdings Inc (NASDAQ:PYPL) are soaring in early trading, last seen up 8.6% at $84.17, after the company last night reported an impressive third-quarter profit beat. The firm also highlighted a record in net new active accounts and encouraging engagement metrics, and said Venmo payments grew 78%. In response, the stock...Read More
LONDON, Oct 19 (Reuters) - The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages.LME nickel stocks have shrunk by about 40 percent this year, largely from warehouses in Malaysia, Taiwan and Singapore, but much of that metal is not being consumed, industry sour...Read More
Tesla Inc has signed an agreement with the Shanghai government for an 860,000 sq...Read full newsRead More
Car parts maker ZF Friedrichshafen said on Friday it acquired a 35 percent stake...Read full newsRead More
BEIJING, Oct 19 (Reuters) - A Shenzhen-based commodity exchange controlled by Hong Kong Exchanges and Clearing unexpectedly began spot trading on Friday, giving the HKEX much-coveted access to mainland China's market.The launch of Qianhai Mercantile Exchange (QME), located just 50 kilometres (30 miles) from Hong Kong, brings to an end a long wait for HKEX and its chairman Charles Li, who bought th...Read More
Stocks dipped on Friday, dragging a global index into a fourth consecutive weekl...Read full newsRead More
The retail stock is on track to carve out a new annual low this morningThe shares of eBay Inc (NASDAQ:EBAY) are 5.8% lower ahead of the bell, after Stifel downgraded the retail stock to "hold" from "buy," while slashing its price target to $35 from $43. The analyst in coverage cited weakening gross merchandise volume (GMV) trends, which were highlighted in PayPal's (PYPL) quarterly report last nig...Read More
Despite yesterday's decline, stocks could close the week in positive territoryStocks are signaling a comeback after another big sell-off yesterday. Dow Jones Industrial Average (DJIA) futures are trading nearly 100 points above fair value, getting help from well-received earnings out of blue chips American Express (AXP) and Procter & Gamble (PG). Futures are also higher for the S&P 500 Index (SPX)...Read More
Canada's federal government unveiled this week the final part of its plans to ban the use and sale of asbestos in the country by the end of the year.The regulations, to come into effect on Dec. 30, also prohibit the manufacturing, import, trade and use of most products containing the mineral. However, they do not apply to residues left from mining asbestos, which in Canada include about 800 millio...Read More