Exploration activities at the Pebble Project in Alaska. Source: Northern Dynasty Minerals Ltd.Northern Dynasty Minerals Ltd. [NDM-TSX; NAK-NYSE] shares advanced on Wednesday November 21 after the company declared a small win in its fight to develop the giant Pebble gold-copper project in Alaska.The company said its Pebble Limited Partnership (PLP) subsidiary has finalized a right-of-way agreement...Read More
NEW YORK (Reuters) - Oil prices rose more than 1 percent on Wednesday, recovering from the lowest levels in months, after U.S. government data showed strong demand for gasoline and diesel, but gains were limited by concern over rising global crude supply.Brent crude LCOc1 futures rose 51 cents to $63.04 a barrel by 11:12 a.m. EST (1612 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 futures ga...Read More
GENEVA (Reuters) - The United States and China clashed on Wednesday at a World Trade Organization meeting with a U.S. envoy accusing Beijing of using the WTO to pursue “non-market” policies and a Chinese official saying it was Washington that was flouting the rulebook.U.S. President Donald Trump has outraged U.S. trading partners by erecting a tariff wall against imports of steel and a...Read More
The Turkish steel producers have extended their absence from the deep-sea scrap markets due to sluggish demand for their finished steel products, sources told Fastmarkets on Wednesday November 21.In addition to their fears of renewed product outflows from China, the weakening local and export rebar prices have become another obstacle for the mills in Turkey.Rebar prices in China, in both the domes...Read More
Key data from the Wednesday November 21 pricing session in Europe. Key drivers European suppliers resisted cutting prices or held off offering material altogether. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped a couple of weeks ago.Alloy trading activity was generally quiet this week, with only deals...Read More
When I reached my mid 20s, you could say I reached an important crossroads of sorts. I’m not sure if I was going through the moment of reaching my own version of “quarter life crisis” but many things didn’t feel right, and I felt like I was trapped in life.Granted, on the surface, many things seemed to be going well for me, especially in my corporate life: good job, high sa...Read More
(Reuters) - U.S. farmers finishing their harvests are facing a big problem - where to put the mountain of grain they cannot sell to Chinese buyers.For Louisiana farmer Richard Fontenot and his neighbors, the solution was a costly one: Let the crops rot.Fontenot plowed under 1,000 of his 1,700 soybean acres this fall, chopping plants into the dirt instead of harvesting more than $300,000 worth of b...Read More
(Kitco News) - Gold andsilver prices aremodestly up in early U.S. trading Wednesday, supported by a weaker U.S. dollar indexon this day and by a rebound in the beleaguered crude oil market. December goldfutures were last up $2.60 an ounce at $1,223.80. December Comex silver waslast up $0.141 at $14.41 an ounce. Globalstock markets were mostly firmer overnight. U.S. stock indexes are also pointe...Read More
GENEVA (Reuters) - The United States and opponents of President Donald Trump’s steel and aluminium tariffs both confirmed their wish to litigate on Wednesday, triggering the procedure for World Trade Organization dispute hearings, a Geneva trade official said.China, the European Union, Canada, Mexico, Norway, and Russia all confirmed they would escalate their disputes by starting adjudicatio...Read More
Ontario's Government for the People is connecting communities and creating opportunities for economic development by investing in the 2018-19 winter roads program.Today, Minister of Energy, Northern Development and Mines, and Minister of Indigenous Affairs Greg Rickford attended the Chiefs of Ontario Special Chiefs' Assembly in Toronto to announce $5.7 million in funding for 29 First Nations and t...Read More
Comex copper prices bounced back during the midweek trading session with a softer dollar and technical support boosting the red metal.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.20 cents to $2.7785 per lb.Prices could be volatile today with market participants sidelined due to the upcoming...Read More
(Kitco News) - With bitcoin now below $4,600, U.S. regulators are reportedly expanding their investigation into cryptocurrencies to see whether last year’s massive bitcoin rally was triggered by market manipulation.At the centre of the investigation is an allegation that traders used tether — another cryptocurrency — to control bitcoin’s price during its unprecedented rally...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Goldmoved little - hanging on to overnight gains -- after Labor Department dataThursday showed that initial weekly U.S. jobless claims rose by 3,000 to aseasonally adjusted 224,000 in the week to Saturday.Consensusexpectations compiled by various news organizations had called for initialclaims to be around 2...Read More
Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.4% this morning, Wednesday November 21.Lead led the rebound with a 1% gain to $1,979 per tonne, while nickel was little changed and the rest were up between 0.2% and 0.3%, with copper up by 0.3% at $6,194 per tonne.Volume has been below average with 4,562 lots traded as at 7.19am London time. Th...Read More
(Kitco News)- Weaker-than-expected U.S. manufacturing sector data is keeping a bid under gold prices, which hit session highs following the numbers.Thursday, the U.S. Census Bureau said that new durable goods orders fell by $11.5 billion or 4.4% to $248.5 billion, in October, down from up from September's increase of 0.7% and significantly missing expectations. Consensus forecasts were calling f...Read More
The Wednesday Market Minute Global stocks steady, with modest declines in Asia offset by gains for European benchmarks, as investors attempt to restore order on the final trading day of the week.Oil prices rebound following a Tuesday sell-off which push U.S. crude prices to the lowest level in more than a year as the dollar drifts and private data shows a drawdown in domestic stockpiles.Italy hi...Read More
Old King Coal was a dirty old soul, and a merry old soul was he... until a decade ago.I know my readers know this tale better than most.In 2008, coal, natural gas, and petroleum accounted for more than 83% of our total energy consumption.Coal and oil, however, held very similar monopolies on two sectors: transportation and electric power.Approximately 91% of our coal consumption was for electricit...Read More
WASHINGTON (Reuters) - The Group of 20 industrialized nations is drafting a communique that will exclude an explicit pledge to fight protectionism, which could help avoid a repetition of friction between U.S. President Donald Trump and world leaders at last year’s summit, the Financial Times reported on Wednesday.The draft communique obtained by the FT calls for countries to keep markets ope...Read More
Albemarle Corp has entered into an exclusive deal with Australian miner Mineral Resources (MRL) that may lead to the development of new battery-grade lithium hydroxide plant in Western Australia.The companies have agreed to consider the creation of a joint venture that would own and operate the Wodgina hard rock lithium mine and ultimately develop an integrated lithium hydroxide operation at the s...Read More
WASHINGTON (Reuters) - Nancy Pelosi, working to reclaim the top job in the U.S. House of Representatives, has called for creation of a new leadership post in a move that could make room for younger lawmakers in the upper echelons of the House Democrats.The 78-year-old San Francisco liberal and current House Democratic leader is fighting hard to regain the job of speaker after the Nov. 6 elections...Read More