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
* Dollar index hits highest level since early 2003 (Updates prices, comments)By Rodrigo CamposNEW YORK, Nov 16 (Reuters) - The U.S. dollar index touched a near 14-year high on Wednesday, while oil prices fell in a volatile session as traders were caught between a build in U.S. stockpiles and the chance of an agreement in an output cut.Declines in bank stocks more than offset gains in the technolog...Read More
Donald Trump will often be mocked in the coming months as the anti-elitist, anti-establishment disruptor of politics who wants to lower taxes on the elite and who is not above hiring establishment figures such as Republican National Committee Chairman Reince Priebus for his team. The mockery will mostly be misplaced simply because the terms “elite” and “establishment” are u...Read More
Trump Versus the Pentagon ... On the campaign trail, Trump called the military a "disaster" ... He pledged to vastly increase the sizes of the Army and Marines and to buy scores of new ships and planes. Does that make sense? - BloombergWe'll answer Bloomberg's question: No it doesn't make sense. America doesn't need a bigger military anymore than it needs a bigger prison system.The American...Read More
Donald Trump will often be mocked in the coming months as the anti-elitist, anti-establishment disruptor of politics who wants to lower taxes on the elite and who is not above hiring establishment figures such as Republican National Committee Chairman Reince Priebus for his team. The mockery will mostly be misplaced simply because the terms “elite” and “establishment” are u...Read More
Trump Versus the Pentagon ... On the campaign trail, Trump called the military a "disaster" ... He pledged to vastly increase the sizes of the Army and Marines and to buy scores of new ships and planes. Does that make sense? - BloombergWe'll answer Bloomberg's question: No it doesn't make sense. America doesn't need a bigger military anymore than it needs a bigger prison system.The American...Read More
About 100 hooded protesters have illegally entered Anglo American's Los Bronces copper mine in central Chile, seizing installations and setting up flaming barricades.The global miner blamed a group of contractors and "unidentified people" for the violent occupation of parts of the mine and the takeover of outbuildings and trucks."This situation creates a serious risk to the safety and physical in...Read More
Gecamines, the Democratic Republic of Congo's state-owned copper producer, said on Wednesday it "strongly opposes" Lundin Mining's (TSX:LUN) decision to sell its 24% stake in the Tenke Fungurume mine to a Chinese private equity firm.Congo is one of the world's top copper producers, but foreign companies rather than Gecamines mine most of the industrial metal. The state-owned miner has long argued...Read More
Global Witness on Monday revealed that Gecamines, the state mining company of the Democratic Republic of Congo last year signed over royalty rights in the Kamoto Copper Company (KCC) owned and operated by Switzerland's Glencore to offshore company African Horizons which is linked to with Dan Gertler, Israeli financier who has extensive dealing in the DRC.The London-based human rights organization...Read More
* Dollar index hits 14-year high, last little changed* Bond selling resumes after brief pause* Yield jump stops stocks in their tracks (Updates with U.S. open, changes comment, dateline from previous LONDON)By Rodrigo CamposNEW YORK, Nov 16 (Reuters) - The U.S. dollar index dipped after hitting a near 14-year high on Wednesday while oil prices swung in a volatile session as traders were caught bet...Read More
* Gold slips as dollar index climbs to 11-month high* Holdings of no.1 gold ETF slip to lowest since June* Indian traders fear curbs on overseas purchases (Updates throughout, adds LONDON dateline)By Jan HarveyLONDON, Nov 16 (Reuters) - Gold eased on Wednesday in line with a firmer dollar, but found support around $1,225 an ounce as a sharp rally in cyclical assets like stocks and copper following...Read More
(Adds company news items, updates futures)Nov 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up around 1 percent on Wednesday, according to financial bookmakers, with futures FFIc1 up 0.09 percent ahead of the cash market open.* The UK blue chip index closed up 0.6 percent at 6,792.74 points on Tuesday, advancing for a second straight day with energy shares tracking a rally in crude...Read More
Nov 16 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up around 1 percent on Wednesday, according to financial bookmakers.* The UK blue chip index closed up 0.6 percent at 6,792.74 points on Tuesday, advancing for a second straight day with energy shares tracking a rally in crude oil while supermarket stocks gained after encouraging industry data. PRUDENTIAL: Insurer Prudential Plc P...Read More
* Treasuries prices little changed, yields near recent highs* U.S. dollar holds recent gains, index hovers near 100* Oil gains near 6 percent, copper falls (Updates to U.S. market close)By Rodrigo CamposNEW YORK, Nov 15 (Reuters) - Oil prices jumped nearly 6 percent on Tuesday on bets OPEC members will agree to cut output when they meet later this month, while stocks rose, led by recently lagging...Read More
* Treasuries prices dip as stocks rise; energy shares jump* U.S. dollar holds recent gains, index hovers near 100* Oil gains near 6 percent, copper falls (Updates prices, changes comment)By Rodrigo CamposNEW YORK, Nov 15 (Reuters) - Oil prices jumped nearly 6 percent on Tuesday on bets OPEC members will agree to cut output, while stocks edged higher, led by technology shares that had fallen recent...Read More
* Treasuries prices little changed, yields near recent highs* U.S. dollar holds recent gains, index hovers near 100* Oil gains near 5 percent, copper falls (Updates prices, changes comment)By Rodrigo CamposNEW YORK, Nov 15 (Reuters) - Oil prices jumped nearly 5 percent on Tuesday on bets OPEC members will agree to cut output while stocks edged higher, led by technology shares that had fallen recen...Read More
India gold import ban rumored ... The Indian Bullion and Jewellers Association has warned members of a potential gold import ban ... The association told Indian media the move could come by March 31 as part of the government's 'black money' crackdown. -Mining JournalPrime minister Narendra Modi recently decided to confiscate the cash of hundreds of millions of Indians, and now he may forbid In...Read More
Hillary Clinton's Popular Vote Lead Expands to Over 1 Million ... Hillary Clinton currently has 61,964,263 votes compared with Trump’s 60,961,967 As Americans' votes continue to be counted, Hillary Clinton's lead over Donald Trump in the popular vote has grown to more than 1 million people. -TIMEThis is a meme that is powerfully growing in popularity. The idea that Hillary swept the popula...Read More
It's Time to Stop Spending Taxpayer Dollars on Elon Musk and Cronyism ... The Senate Finance Committee and the House Ways and Means Committee have launched a probe into tax incentives paid to solar companies, according to The Wall Street Journal. The committee probes, led by their respective Republican chairmen, Rep. Kevin Brady of Texas and Sen. Orrin Hatch of Utah, have found an appropriate and...Read More
India gold import ban rumored ... The Indian Bullion and Jewellers Association has warned members of a potential gold import ban ... The association told Indian media the move could come by March 31 as part of the government's 'black money' crackdown. -Mining JournalPrime minister Narendra Modi recently decided to confiscate the cash of hundreds of millions of Indians, and now he may forbid In...Read More
Hillary Clinton's Popular Vote Lead Expands to Over 1 Million ... Hillary Clinton currently has 61,964,263 votes compared with Trump’s 60,961,967 As Americans' votes continue to be counted, Hillary Clinton's lead over Donald Trump in the popular vote has grown to more than 1 million people. -TIMEThis is a meme that is powerfully growing in popularity. The idea that Hillary swept the popula...Read More