AUSTRALIA - BHP Group has commissioned the new ramp at its Olympic Dam iron ore-copper-gold mine, and it doubles the haulage capacity for its trucks. The Kalta decline is key to reaching the Southern mine area where BHP is mining high grade copper resources.BHP spent A$250 million to develop the Southern mine area, and another $40 million on the ramp. The first ore from the area was produced in mi...Read More
Industrial metals came under renewed pressure on Tuesday after a defiant speech from China's president Xi Jinping diminished hopes of an early settlement in the top commodity importer's intensifying trade dispute with the US.President Jinping used the occasion of the 40-year anniversary of the start of China's "Reform and Opening Up" to congratulate the stewardship of the communist party and reaf...Read More
SASKATCHEWAN - Fifteen kilometres from the rapidly advancing Wheeler River project, Vancouver's Skyharbour Resources is finding high grades at the Moore uranium project.Drill hole ML18-14 intersected high grade uranium mineralization within the Main Maverick zone consisting of 3.11% uranium oxide over 1.8 metres within an interval of 15.2 metres containing 0.56% uranium oxide. This is one of the b...Read More
The chance of recession in the next 12 months rose to 23 percent in the CNBC Fed Survey.Twelve percent of respondents think the Fed, after hiking in December, would next move to reduce the Fed Funds rate and do so by October.Fifty-two percent said they now approve of the president's handling of the economy, down 14 points from the prior survey in which his approval had hit an all-time high.The CNB...Read More
If we want to know where Gold is going we should follow Gold. Right?How about following gold stocks? At times, they lead Gold.What about the U.S. Dollar? Wrong!In 2019, one market more than any other will impact Gold.That is the stock market.History argues (within the current context) that when the Federal Reserve ends its rate hikes, Gold's downtrend will be over and when the Fed cuts rates, the...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Tuesday December 18, with continued strength in the US dollar index limiting price action, while lead futures gained more than 2% against a backdrop of multi-year lows in LME inventory.Depreciating over 2.5% this afternoon, copper futures closed below $6,000 per tonne for the first time since October 31, while to...Read More
Glencore's Katanga Mining Ltd will pay the Ontario Securities Commission (OSC) around $22.5 million as part of a settlement over the copper-cobalt producer's historical disclosures.The payments are C$1.5 million ($1.2 million) in costs along with a voluntary payment of C$28.5 million.The company, which operates the Kamoto Copper Company in the Democratic Republic of Congo (DRC), has also agreed to...Read More
A friend asked me today what I thought Powell should do. I said, "the system is screwed. It ultimately doesn't matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe.Eventually the Fed/Central Banks will print trillions more - 10x more than the la...Read More
Wang Chi-wei, a former vice president of Jiangxi Copper, has been officially arrested on corruption charges, the Supreme People's Procuratorate of the People's Republic of China said in a statement on Tuesday December 18.The arrest is based on an investigation carried out by the city of Nanchang's Supervisory Commission since October. Jiangxi Copper's 900,000 tpy Guixi smelter, the largest in Chin...Read More
Marc Elliott, mining analyst at Investec Securities, told Mining Journal there was a greater spread of companies "across the mid-cap range" on the TSX and ASX, "whereas in London w...Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM"), is pleased to announce that, subject to regulatory approval, it has retained Questrade, INC., ("Questrade"), to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislations.Questrade will trade shares of good na...Read More
Chinese exporters continued to aggressively slash offer prices in response to sparse buying interest amid weak domestic demand, while European ferro-vanadium prices followed the move down. Chinese exporters cut offering prices amid weak domestic demand European FeV market plummets after taking its cue from the weakening Chinese market European V2O5 flat amid illiquidity, further downward pressure...Read More
CloseGain/LossGold $1249.30+$3.00Silver$14.64-$0.03XAU70.61+2.05%HUI160.34+2.31%GDM583.74+2.24%JSE Gold1328.43+26.18USD97.06-0.08Euro113.64+0.17Yen89.18+0.64Oil$46.24-$3.6410-Year2.823%-0.035T-Bond144.4375+0.65625Dow23675.64+0.35%Nasdaq6783.91+0.45%S&P2546.16+0.01% The Metals: Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1250.30 in London a...Read More
By Dave KranzlerA friend asked me today what I thought Powell should do. I said, "the system is screwed. It ultimately doesn't matter what anyone does. The money printing, credit creation and artificially low interest rates over the last 10 years has fueled the most egregious misallocation of capital in history of the universe.Eventually the Fed/Central Banks will print trillions more - 10x mo...Read More
The earlier uptick in the Chinese ammonium paratungstate (APT) price faltered in the week ended Friday December 14, while both European and Chinese ferro-tungsten markets were stable due to the end-of-year trading lull. APT fob price in China moved down due to low overseas buying interest amid falling prices in the domestic market. Chinese tungsten concentrate price unchanged. Ferro-tun...Read More
Ferro-chrome and chrome ore prices in China were unmoved in a week of low liquidity. Ferro-chrome, chrome ore prices in China stable Japanese, South Korean ferro-chrome prices drop High- and low-carbon ferro-chrome prices dip in Europe US high-carbon ferro-chrome price tumblesTrades indicated the price for imported UG2 chrome ore imported into China were stable in the week ended Friday December 14...Read More
A few years ago, Standard Chartered made a decision to integrate itself more fully into the supply chains of its clients. The goal: use technology to connect into its clients' ecosystems, upending the traditional model of banking services."There was a realization a few years ago that businesses are evolving and they're evolving quite rapidly - we've seen that in a number of industries and there's...Read More
Glencore's Katanga Mining Ltd will pay the Ontario Securities Commission (OSC) around $22.5 million as part of a settlement over the copper-cobalt producer's historical disclosures.The payments are C$1.5 million ($1.2 million) in costs along with a voluntary payment of C$28.5 million.The company, which operates the Kamoto Copper Company in the Democratic Republic of Congo (DRC), has also agreed to...Read More
Turkish scrap import prices continued to fall on Tuesday December 18, reflecting the slightly lower offers that mills received from Baltic Sea suppliers, sources said.Several sources reported at the start of this week suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at $300-305 per tonne cfr. But some offers for the same material were heard at $290-295 per tonne cfr on Tuesday.In r...Read More
Exploring the Athabasca basin in northern Saskatchewan. Source: Skyharbour Resources Ltd.Skyharbour Resources Ltd. [SYH-TSXV; SYHBF-OTCQB] has released the results of a 2018 fall drilling program at the Moore Uranium Project in Saskatchewan. The company said the program intersected new high-grade uranium at the Maverick Zone, including 3.11% U3O8 over 1.8 million within 0.56% U3O8 over 15.2 metres...Read More