The International Wrought Copper Council (IWCC) has elected Dr Erwin Mayr, chief executive officer of the Wieland Group, to serve as chairman of the group, which is the international association for the copper and copper-alloy fabricating industry.Mayr succeeds Stefan Boel, formerly of Aurubis, who was the longest serving chairman in...Read More
A full-scale trade war between the US and China is closer than ever after Beijing hit back with retaliatory tariffs on Monday. The Chinese yuan fell by more than 1%, prompting a selloff in copper, while gold jumped $11 to 1299 and Bitcoin hits $7400. USD fell across the board on reports that some Chinese scholars have mentioned Beijing taking the "nuclear option" -- selling US treasuries...Read More
Source: Adrian Day for Streetwise Reports 05/07/2019Fund manager Adrian Day reviews a handful of non-resource companies and provides updates on a number of gold companies in his portfolio.Kingsmen Creatives Ltd. (KMEN:SI, 0.555), designer and manufacturer of high-end retail stores and more, is one of those companies whose very business is under threat by the internet. Kingsmen, however, has ar...Read More
Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More
The global alumina market may tighten in the coming month after around 1.7 million tonnes of Chinese alumina production was suspended on environmental infringements this month, sources told Fastmarkets on Monday May 13. Xinfa Group has closed two production lines out of four at its Jiaokou alumina plant, removing 1.3 million tonnes per year of alumina output after the local authorities launched a...Read More
Zinc's three-month price on the London Metal Exchange fell by more than 2% at the close of trading on Monday May 13 following the fresh inflow of more than 8,000 tonnes into LME-registered warehouses in Europe. Total on-warrant LME zinc stocks are now above 90,000 tonnes for the first time since January and are trending higher after falling to a record-low of 41,900 tonnes in March. More than 30%...Read More
Stocks were gaining on Friday following a lower opening of the trading session and the morning sell-off. The S&P 500 index extended its downtrend before bouncing off and closing 0.4% higher. So was it an upward reversal or just correction within a downtrend?S&P 500: Negative Expectations AgainThe U.S. stock market indexes gained 0.1-0.4% on Friday, after bouncing off their new lows as inve...Read More
GOLD Spot gold accelerated higher on news that China retaliated to US tariffs that heated the trade conflict, with threats of further escalation of crisis. Bad news prompted investors into safe-haven assets and gold price rallied through important barriers at $1293/95 (55/100SMA) and 1297 (Fibo 38.2% of $1346/$1266), coming ticks ahead of o psychological $1300 barrier. Improved sentiment on fresh...Read More
Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More
Mid-tier Canadian miner B2Gold (TSX:BTO)(NYSE: BTG) will invest $50 million into expanding its 80%-owned Fekola mine in southwestern Mali, which would allow the operation to churn out 5 million ounces of gold over the new mine life of 12 years.Average annual gold output would increase to more than 550,000 ounces from 2020 - 2024, and to over 400,000 ounces during the remaining seven years.The p...Read More
Seaborne iron ore prices softened on Monday May 13 amid weaker steel markets and an appreciation of the United States dollar against the Chinese yuan.MB 62% Fe Iron Ore Index: $96.10 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.78 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $99.92 per tonne cfr Qingdao, down $0.58 per...Read More
Gold has been stuck in neutral despite a plethora of geopolitical developments that would typically push the precious metal higher.Apparently, it will take an actual "event" to impact gold sentiment, though any objective investor would agree the odds of such an event have risen dramatically over the past few weeks.I continue to recommend American investors have a small to medium position...Read More
SD Outlook: The near-term sure does look bearish for gold & silver heading into the week, which is exactly the reason it's called an "upside surprise"... The dog-n-pony show that is the trade war will need to share the stage this week.With what?The Fed playing make-believe with the "markets":Monday and Tuesday are just the warm-ups.In preparation for the Kashkari Soliloquy, followed by the Friday...Read More
Markets Gold Oil Markets back in the red as tariffs increased European markets are mostly lower at the start of the week and the US is expected to open even deeper in the red after talks between the US and China broke down and tariffs were increased. The talks appeared to be going quite smoothly until a week ago when the cracks started to appear, since when markets have given up a chunk of...Read More
About 50,000 people rallied this week in the Colombian city of Bucaramanga to express their opposition to the Soto Norte gold project.The $1.2-billion project, proposed by Sociedad Minera de Santander or Minesa, is located in the north-central Santander department, just outside the P??ramo de Santurb??n, an area of the Andes mountains covered with subalpine forests above the continuous tree line b...Read More
Fastmarkets reporters present 12 key things we learned at LME Asia Week 2019 in Hong Kong during May 6-9. 1. LME is in talks with Guangdong local authority to establish warehouses in China Charles Li, chief executive officer of Hong Kong Exchanges & Clearing (HKEX), said the London Metals Exchange is in talks with the Guangdong government to pilot establishing LME warehouses in mainland China. Li...Read More
The price of copper dropped to a 15-week low on Monday after China fired back in the mounting trade war with the US. In afternoon trade, copper for delivery in July touched $2.709 a pound ($5,972 a tonne), down 2.4% from Friday's settlement.China will match 25% tariffs on $60 billion of goods imported from the US including precious stones like diamonds, rubies and emeralds, iron ore, and nickel,...Read More
It has been said there is a massive paradigm shift going on in the world - a shift that is only slightly perceptible to some - but one that is already revolutionizing the mining industry. Picture an image of a city block at the turn of the 20th century. Horse-drawn carriages fueled by grass and hay were the main method of transportation on dirt roads during the agricultural era. Fast for...Read More
BERLIN - Volkswagen will invest almost 1 billion euros ($1.1 billion) in battery cell production at a facility in western Germany and is seeking to simplify the group by spinning off or selling units, the automaker said on Monday.Volkswagen said in a statement after a supervisory board meeting it would set up the battery facility in Lower Saxony under a partnership and would also begin talks on a...Read More
British Columbia's top mining companies have been on a roller-coaster ride over the past five years, according to data compiled for Business in Vancouver's Biggest Mining Companies in B.C. list.In 2015, Teck Resources Ltd. (TSX:TECK.B) (No.1 on BIV's list) and Goldcorp Inc. (TSX:G) (No. 2) suffered massive declines in net income.Teck's net income fell by $2.87 billion to $2.48 billion in the red...Read More