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

Global miner Rio Tinto surprised investors with a 15 percent dividend hike after reporting a huge jump in second-half profit on Thursday, putting it in a strong position for a big capital return in 2015.Rio’s result will set the pace for other mega miners, who have shelved projects, axed costs, sold assets and cut debt over the past 18 months to satisfy shareholders wanting a bigger share of...Read More

Slowing growth and credit concerns in China have taken an enormous toll on base metal prices. The related mining stocks have been hammered as well in recent weeks, and according to analysts at Dundee Capital Markets, there could be worse to come.“The bottom line is that with stimulus being tapered, China’s slowing fundamentals will likely reassert themselves and we believe miners will...Read More

Thursday was such a dreadful day for global markets (and especially for precious metals) that investors and media took little notice of base metals, which also took a tumble. Copper is now trading just above US$3.00 a pound, way down from a high of more than US$4.50 in 2011.Jessica Fung, a commodity strategist at BMO Capital Markets, noted that a slight bounce back is possible in the short term. B...Read More

By Veronica Brown and Melanie BurtonLONDON — Copper fell to its lowest in a month on Tuesday after disappointing U.S. employment data on Friday raised concerns about slowing growth, while a slight fall in China’s copper imports did little to shore up sentiment.Losses were limited, however, by the view that China’s economic slowdown was not drastic, with off-take for copper seen k...Read More

While global markets have not been kind to stocks in recent days, it’s mining stocks that have taken the biggest beating — and are now at levels not seen since mid-2010.“Energy, base metals and gold stocks remain more than 20% off their cyclical peaks of a year ago,” said Ste??fane Marion, chief economist and strategist with National Bank.Mining stocks have not been this lo...Read More

By Silvia AntonioliLONDON — Copper was steady on Thursday, after a 2 percent fall the previous session, and was on track for a 10 percent increase this quarter, although doubts over demand in China and over the pace of economic recovery in the U.S. made investors cautious.Benchmark copper on the London Metal Exchange (LME) traded at $8,330 a tonne in official rings, little changed from a clo...Read More

Detour Gold last month sold C$277 million of equity to investors willing to bet on its promising gold project – a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlier.Detour’s success in raising funds is one of many small signs that the malaise that gripped miners, explorers and investors in late 2011 is easing. A brighter economic out...Read More

By Ted NilesLevon Resources' (TSX:LVN) preliminary economic estimate of its Cordero project was originally intended for internal use only. President and CEO Ron Tremblay admits that normal procedure is to drill off the resource before working on the economics, but Cordero is unusually large. He explains, “We’ve just started our Phase 4, 130,000-metre drill program, so there’s an...Read More

By Susan ThomasLONDON — Copper was steady on Tuesday after the euro trimmed gains against the dollar on waning enthusiasm over a survey showing Germany, Europe’s largest economy, was holding up despite the debt crisis, but gains were limited by scant signs of buying from top metals consumer China.Three-month copper on the London Metal Exchange was $8,430 a tonne in official rings from...Read More

OTTAWA — Commodities entered 2012 on more positive footing after the eurozone debt crisis sent resource prices into sharp retreat in the latter half of 2011, Scotiabank said Tuesday.“Sentiment has improved in early 2012,” said Patricia Mohr, author of Scotiabank’s Commodity Price Index, “with some investment and hedge funds shifting from short to long positions in bas...Read More

Commodity markets are looking up this year with a strong start to 2012, after prices were a mixed bag in 2011.But as the Aesop Fable shows, it takes more than a strong start to win the race, according to CIBC senior economist Peter Buchanan.While diminished risk aversion helped reduce prices for commodities and other volatile assets, Mr. Buchanan says they have better traction in 2012.Commodity ma...Read More

By Andy HomeSupply shortfall has defined the copper market for several years now.Many of the world’s biggest copper mines are aging and ore grades have been falling accordingly.Mine capacity utilization fell steadily from over 90 percent at the start of the last decade to 80.4 percent last year, according to the International Copper Study Group (ICSG). This year has been even worse. Capacity...Read More

The period of seasonal strength in the metals and mining sector is approaching. What are prospects this year?Thackray’s 2012 Investor’s Guide notes that the metals and mining sector has two periods of seasonal strength: From November 19th to January 5th and from January 23rd to May 5th. The combined periods have recorded an average return per period during the past 22 periods of 16.1%....Read More

Investors can expect a dividend increase of approximately 20% when Barrick Gold Corp. reports third quarter results before markets open on Thursday, October 27.That’s the forecast from Stephen D. Walker, analyst at RBC Capital Markets, who noted that Barrick last hiked its dividend in July 2010. He also pointed out that the company’s payout ratio is 10% of 2011 estimated earnings, comp...Read More

Shares of North American base metal miners tumbled on Monday along with the price of copper, zinc, and nickel after the downgrade of the U.S. credit rating by S&P amplified fears of a global economic slowdown.Shares of U.S. miner Freeport McMoRan and Canada’s First Quantum and Teck Resources, among others, fell sharply in New York and Toronto.Copper, used in the power and construction in...Read More

Shares of Quadra FNX rose more than 7 percent on Monday morning after the Canadian base metal miner reported a large increase in quarterly copper production.Vancouver-based Quadra said its second-quarter production rose 20 percent from the previous quarter at its mines in the United States, Canada and Chile.The company, which is expected to report quarterly financial results on Aug. 10, said coppe...Read More

By Andy HomeAssuming, like the investment bank community, you are still keeping the faith with the overall bull narrative, the coming period will be all about divergence between both commodities in general and the LME metals in particular.Or as researchers at Barclays Capital put it in the company’s most recent weekly research report, “the supply side is shaping a more diverse fundamen...Read More

* Asian shares near 9-month low, Nikkei down 0.5 pct* Falls in U.S. tech shares heighten worries* Yuan steady for now after PBOC's movesBy Hideyuki SanoTOKYO, July 4 (Reuters) - Asian stocks were on shaky ground on Wednesday while the Chinese yuan stood near 11-month lows as the spectre of a Sino-U.S. trade war haunted investors ahead of an end-of-week deadline for U.S. tariffs on billions of doll...Read More

BRUSSELS, July 19 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:APPROVALS AND WITHDRAWALS-- Spanish fashion and cosmetics maker PUIG and German electrical appliances maker Bosch (NS:BOSH) Group's unit BSH to jointly acquire Spanish perfume maker Noustique (approved July 18)-- Metals and commodities company Liberty House G...Read More

* MSCI Asia-Pacific index up 0.17 pct, Nikkei rises 0.5 pct* US yields hover near 6-week highs, help prop up dollar* Commodities buoyant amid prospect of increased China demandBy Shinichi SaoshiroTOKYO, July 25 (Reuters) - Asian stocks rode higher on Wednesday thanks to strong U.S. corporate earnings and hopes China will boost fiscal support for its economy, while long-term U.S. yields hovered nea...Read More