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

Implied volatilities collapsed after last week's earnings reportNvidia Corporation (NASDAQ:NVDA) has been trending higher over the past two years -- up more than 500% from its May 2016 lows south of $40. While the shares have pulled back since last Thursday's earnings-related record high of $260.50 -- down 4.6% today at $243.61 -- they appear to be finding a foothold in the $240 region, home to it...Read More

Gold on Tuesday suffered its worst trading day in 17 months after a recovery in the value of the US dollar and seven-year highs for yields on the country's government bonds.The most active gold futures contract on the Comex market in New York dropped to a low of $1,288.20 an ounce, down over 2% or more than $28 an ounce compared to Monday's settlement. Volumes were massive with 43m ounces of June...Read More

HAMBURG, May 15 (Reuters) - Aurubis AG, Europe's biggest copper smelter, said on Tuesday it expects positive conditions to continue in copper markets in the coming months and confirmed its forecast of higher earnings."We still anticipate a satisfactory supply of copper concentrates (ore) and corresponding treatment and refining charges," it said. "We expect, in general, a stable copper scrap marke...Read More

HAMBURG, May 15 (Reuters) - Aurubis AG, Europe's biggest copper smelter, said on Tuesday it expects positive conditions to continue in copper markets in the coming months and confirmed its forecast of higher earnings."We still anticipate a satisfactory supply of copper concentrates (ore) and corresponding treatment and refining charges," it said. "We expect, in general, a stable copper scrap marke...Read More

A 6.16-carat blue diamond that was secretly passed down through European royalty over three centuries has fetched $6.7 million at a Sotheby's auction in Geneva - $1.4 million more than what experts expected it to be sold for.The pear-shaped, dark grey-blue gem, known as The Farnese Blue, is believed to be one of the most important historical diamonds left in private hands until today, which was th...Read More

A 6.16-carat blue diamond that was secretly passed down through European royalty over three centuries has fetched $6.7 million at a Sotheby's auction in Geneva - $1.4 million more than what experts expected it to be sold for.The pear-shaped, dark grey-blue gem, known as The Farnese Blue, sold after just four minutes of bidding. It's believed to be one of the most important historical diamonds left...Read More

Short-term options are pricing in relatively low volatility expectationsChemical giant DowDuPont Inc (NYSE:DWDP) has been stuck in a channel of lower highs and lows since its late-January peak, down more than 13%. In mid-March, the shares breached the $67-$68 neighborhood -- where they were trading when Dow and DuPont merged back in early September -- and several unsuccessful attempts to reclaim t...Read More

SANTIAGO, May 15 (Reuters) - Chilean copper mine Sierra Gorda, controlled by Polish miner KGHM, said on Tuesday it had shut down following a fatal accident involving a contract worker.Roberto Venegasa, an employee of equipment supply firm Finning, died during routine maintenance work at the mine, the company said in a statement."The company has decided to shut down operations and notify authoritie...Read More

SANTIAGO, May 15 (Reuters) - Chilean copper mine Sierra Gorda, controlled by Polish miner KGHM, said on Tuesday it had shut down following a fatal accident involving a contract worker.Roberto Venegasa, an employee of equipment supply firm Finning, died during routine maintenance work at the mine, the company said in a statement."The company has decided to shut down operations and notify authoritie...Read More

The analyst isn't worried about the NAND market, eitherShares of Micron Technology, Inc. (NASDAQ:MU) are popping today, after Stifel boosted its price target to $101 from $95 -- a nearly 91% premium to last night's close, and the highest MU price target on Wall Street. The brokerage firm cited expectations for rising first-quarter DRAM prices, and said, "the NAND flash market is growing and far fr...Read More

Tesla stock remains heavily shortedTesla Inc (NASDAQ:TSLA) stock is down 2.3% to trade at $285.20 this morning, after Morgan Stanley issued a price-target cut to $291 from $376 and slashed its profitability forecasts. The analyst in coverage expressed concerns about Model 3 production and the recent executive turnover, saying TSLA is trading near fair value. On the other hand, Electrekjust got it...Read More

Wall Street has extremely high expectations for WTW sharesScanning the analyst attention across Wall Street this morning, two names that stood out were Weight Watchers International, Inc. (NYSE:WTW) and Ulta Beauty Inc (NASDAQ:ULTA). The healthy eating specialist and the cosmetics retailer could both be aiming for fresh highs soon, based on recent analyst coverage. We'll take a closer look at shar...Read More

Valeant Pharmaceuticals stock has been surging since early AprilShares of drug name Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are trading higher this morning, after the stock received an upgrade from Mizuho to "buy" from "neutral" and a price-target hike to $27 from $15, with the analyst in coverage calling the company's portfolio "Mylan-like." In response, VRX is up 2.8% at $21.40, at last che...Read More

WARSAW, May 15 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, reported a 38 percent slide in first-quarter net profit on Tuesday, hit by lower output and sales.The state-run company said net profit for the first three months of the year stood at 439 million zlotys ($121.08 million), compared with the 453 million zlotys expected by analysts and 710 million zlotys...Read More

WARSAW, May 15 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, reported a 38 percent slide in first-quarter net profit on Tuesday, hit by lower output and sales.The state-run company said net profit for the first three months of the year stood at 439 million zlotys ($121.08 million), compared with the 453 million zlotys expected by analysts and 710 million zlotys...Read More

HONG KONG, May 15 (Reuters) - Australian miner Argosy Minerals plans to use the production from the pilot plant at its lithium carbonate mine in Argentina to entice financing for its commercial operations at the site, a company executive said on Tuesday.Argosy's Rincon project in northern Argentina will start producing 500 tonnes per year of lithium carbonate equivalent (LCE) next month, Managing...Read More

The 10-year Treasury yield has climbed back above 3%The Dow Jones Industrial Average (DJI) is pointed lower in pre-market trading, which could put the blue-chip index's shot at a nine-day winning streak in jeopardy. A negative earnings reaction for Home Depot (HD) is pressuring Dow futures, after the retailer's first-quarter revenue and same-store sales came in lower-than-expected. Traders are al...Read More

World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More

World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More

World's No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies' investment decisions.Speaking at the Bank of America Merrill Lynch conference in Miami, chief executive Jean Sebastien-Jacques said he remained optimistic about the medium to long-term global growth outlook...Read More