WATERLOO, Ont. - Zhongwei Chen, a chemical engineering professor at the University of Waterloo, and teams from universities in China have created a powder that could trap twice the amount of carbon dioxide than conventional materials.Once the powder is saturated with carbon dioxide, it can be transported to underground storage sites, thus keeping the gas out of the atmosphere.The new material is a...Read More
In Chicago, Mayor Rahm Emanuel wants to use tax revenue from legal marijuana sales to fund pensions."Illinois legislators will be taking a serious look next year at legalizing recreational marijuana," Emanuel said in a speech to the city council. "Should they follow that course, a portion of that revenue could go toward strengthening our pension funds and securing the retirement of the workers who...Read More
ONTARIO - Toronto-based North American Palladium has signed a major mine development contract with Redpath Canada of North Bay, Ont. Redpath. The expansion will double the capacity of the mine and mill to 12,000 t/d from 6,000 t/d. The project is 85 km northwest of Thunder Bay.The contractor will conduct underground development for a major expansion at the Lac des Iles palladium mine. To access or...Read More
President Donald Trump has lambasted the U.S. central bank multiple times over the past year.Fed Chairman Jerome Powell says, "Nothing will deter us from doing what we think is the right thing to do."The Fed raises its benchmark interest rate by a quarter-point on Wednesday, despite Trump's tweets against more rate hikes.Michael Sheetz| @thesheetztweetzPublished 5 Hours AgoUpdated3 Hours AgoCNBC.c...Read More
SASKATCHEWAN - UEX Corporation has released the maiden resource estimate for its 60% owned Christie Lake uranium joint venture. JCU (Canada) Exploration Co. is the 40% owner of the project located 9 km northeast of and along strike of the McArthur River uranium mine in the Athabasca Basin.The project is still in the early stages, and the drill holes were widely spaced, but the inferred resource is...Read More
Preliminary results from a bulk sample taken at its Windfall Lake deposit in Quebec delivered an average head grade of 9.7 grams gold per tonne and 5.5 grams silver per tonne, Osisko Mining (TSX: OSK) reports.The sample head grade from Zone 27 is 39% higher than indicated in the resource block model for the area, a "strong result" and "an early Christmas gift to our shareholders," John Burzynski,...Read More
Bloomberg News/LandovFed Chairman Jerome Powell arrives at a board meeting in October. Defying the wishes of President Donald Trump, the Federal Reserve on Wednesday raised its benchmark interest rate, although the central bank did lower its forecast for how many more increases will be needed in the future. The central bank now pencils in two rate hikes in 2019, not the three moves seen in Septemb...Read More
The U.S. stock market continues to implode. At the same time, precious metals, bitcoin, and the Indian stock market are acting as superb safe havens.Please click here now. Double-click to enlarge this great short term gold chart.Note the positive bounce from buy-side support at $1237, and the inverse H&S bottom pattern. A fresh rate hike from the Fed tomorrow could crush the stock market again...Read More
A steel trade group argued that the statute under which the US Section 232 tariffs on steel and aluminum imports were issued was unconstitutional, according to oral arguments during a US Court of International Trade (CIT) hearing on Wednesday December 19. The American Institute for International Steel (AIIS) alleged that the statute violates the constitutional prohibition against Congress delegati...Read More
The US Department of the Treasury's Office of Foreign Assets Control (OFAC) plans to remove sanctions against UC Rusal and En+ Group in 30 days due to significant restructuring and corporate governance changes, it said in a notice.Russian oligarch Oleg Deripaska will remain sanctioned, however, and his property will remain blocked."Treasury sanctioned these companies because of their ownership and...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Wednesday December 19, reflecting a continued retreat in the dollar index The three-month copper price climbed 0.7%, ending back above $6,000 per tonne. In a quiet trading day, 16,200 lots of copper changed hands. In supply-side news, judges earlier this week ordered the reopening of Sterlite Copper's Tut...Read More
Alcoa will start to curtail half of the one operating potline at its Aluminierie de Becancour Inc (ABI) smelter in Quebec, Canada, it said on Wednesday December 19. The smelter has a nameplate capacity of 413,000 tonnes per year across its three potlines. Alcoa owns 74.95% of the Becancour smelter while Rio Tinto owns the remaining...Read More
Our forecast and expectaion of a major bull market in Gold, gold stocks and many commodities depends on a bear market occuring in the industrial stock market. That would include stocks in the Dow Averages and S&P 500. Our analysis suggests that a bear market is happening right now. For gold and mining stock investors that is good news. We suggest that you visit Montrealanalyst.com for the latest...Read More
Petropavlovsk has lowered its guarantee under the new $240 million Gazprombank package from $204 million to $160 million.IRC had borrowed $340 million from ICBC to build the K&S iro...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
A requirement for a higher energy density for new EV battery projects has been removed from the official regulations on automobile industry investment published by the country's National Development and Reform Commission (NDRC) on its website. The energy density threshold was removed from the final version of the regulations on Tuesday December 18 owing to the fact that current technology is not d...Read More
CloseGain/LossGold $1242.00-$7.30Silver$14.58-$0.06XAU66.61-5.67%HUI150.99-5.83%GDM558.39-4.33%JSE Gold1355.53+27.10USD97.06UNCHEuro113.72+0.08Yen89.30+0.12Oil$47.20+$0.9610-Year2.780%-0.043T-Bond144.84375+0.375Dow23323.66-1.49%Nasdaq6636.83-2.17%S&P2506.96-1.54% The Metals: Gold edged up to $1251.40 in Asia before it dropped back to $1246.80 in London and then jumped up to $1258.00 at abo...Read More
- Review of 2018: 'Everything bubble' started bursting- International stock market indices and many property markets have fallen sharply- S&P 500 -4.5%, Nikkei -8%, EuroStoxx 50 -12.5%, FTSE -13%, DAX -16.5%- Of 54 major international stock market indices, only 6 are higher (see table below)- Global property bubble bursting - London, Sydney and Vancouver fall nearly 10%- Crypto bubble burst a...Read More
Turkish scrap import prices fell again Wednesday December 19, following news of a fresh deep-sea cargo booking, sources told Fastmarkets MB.Details of a steel producer in the Iskenderun region booking a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25), 7,000 tonnes of a mixture of bonus and shredded and 3,000 tonnes of busheling, at an average price of $285 per tonne cfr, came to light...Read More
Gold prices climbed on Wednesday, holding ground at their highest finish since July, then pulled back in the wake of the Federal Reserve's decision to lift a key interest rate, as had been expected. The Federal Reserve on Wednesday, after gold futures settled, said it decided to hike its target for the federal-funds rate by a quarter point to a range between 2.25% and 2.5%. The central bank also s...Read More