Gold rose more than 1% on Monday to its highest price in more than nine weeks Continue...Read More
Gold production in Canada is expected to grow at a compound annual rate of 2.7% from 2019 to 2023. This, according to GlobalData, Mining Intelligence, Centre means this country's output will reach 7.6 million oz. four years from now.The centre said the growth is due to new mines - Agnico Eagle's Meliadine in Nunavut, Victoria Gold's Eagle in Yukon, and Endeavour Gold's Lamaque in Quebec. These pro...Read More
China's rebar prices largely softened on Monday June 3 amid a gradual drop in demand. Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, unchangedNorthern China (Beijing): 3,850-3,900 yuan per tonne, down 30-50 yuan per tonneWarmer weather in northern China led to demand for rebar in that region falling over the past few days.A price drop in Tangshan's billet market over the...Read More
Toronto-based Orefinders Resources is making plans to resample and compile 31,900 metres of historical drill core for its Knight gold project 70 km southwest of Kirkland Lake, in the Shining Tree district. The project includes several contiguous zones of mineralization which have now been consolidated into a single property by Orefinders.Orefinders is making a $500,000 non-brokered financing to su...Read More
Barrick Gold (TSX:ABX) (NYSE:GOLD) president and CEO Mark Bristow, along with the executive director of JV partner Zijin Mining Group, today met with Papua New Guinea's new prime minister James Marapa about extending the current special mining lease on the Porgera gold mine, which is set to expire on August 16, 2019. This marks the second time that Bristow has visited the country this year to reaf...Read More
Chrome ore and alloy prices dropped in various global regions in the week ended Friday May 31, with bearish sentiment in China deteriorating further after the release of lower tender prices for June. Chinese domestic spot prices follow tenders downwardImport prices for charge chrome and UG2 dropTurkish lumpy ore prices hold steadyAlloy prices slide in Japan, South KoreaAlloy prices weaken in Europ...Read More
The French Revolution of 1849 gave us this saying: the more things change, the more they stay the same. Let's look at its usefulness for current situation in gold. In Friday's Alert, we wrote that the turn of the month and the corresponding reversal is most likely to be a topping action, instead of a bottom and that the next meaningful bottom is going to take place at a later date. Gold rallied, a...Read More
Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More
Gold is finally seeing some bullish momentum as trade ructions escalate, fueling the biggest rally among the top miners in seven months.President Donald Trump's plan to impose a 5% tariff on all Mexican goods over illegal immigration rattled financial markets, boosting the haven appeal of the metal that has been weighed down by the strong dollar. China's threat to blacklist foreign firms it accuse...Read More
Foreign loans that use minerals as collateral may complicate Zimbabwe's future negotiations with foreign creditors to restructure its $8.8 billion debt, an International Monetary Fund official said on Monday.Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for miner...Read More
Jersey-based Royal Road Minerals (TSXV: RYR) announced the closing of the acquisition of Northern Colombia Holdings from Compa???-a Kedahda, an affiliate of AngloGold Ashanti (JSE: ANG) (NYSE: AU).In a press release, Royal Road explained that NC Holdings, through its subsidiaries, owns Exploraciones Northern Colombia, which holds or has rights to a title package comprised of mining concession agre...Read More
The reasons for the better scenario are discussed in a ROTH Capital Partners report. In a May 29 research note, ROTH Capital Partners analyst Jake Sekelsky reported that recent additional metallurgical test results from Vista Gold Corp.'s (VGZ:NYSE.MKT; VGZ:TSX) Mt. Todd project "indicate the potential to increase recoveries" there."Given Mt. Todd's scale, we believe an increase in overall recove...Read More
* Global economy could face recession * Data deteriorated before latest flare up on trade * Weak economy may spark c. bank "race to the downside" onrates (Adds U.S. data; changes dateline, previous LONDON/HONG KONG)By Trevor Hunnicutt, Jonathan Cable and Marius ZahariaNEW YORK/LONDON/HONG KONG, June 3 (Reuters) - Factoryactivity slowed in the United States, Europe and Asia last monthas a...Read More
Our research team believes Silver could be the Sleeper Rally setup of a lifetime for investors if the global economic cards continue to get scattered and crumpled over the next 10+ years. The recent rally in Gold got a lot of attention last Friday (the end of May 2019). We had been warning about this move for the past 8+ months and generated an incredible research post in early October...Read More
A 50:50 joint venture between Luxembourg-based trader/steel producer Duferco and United States steelmaker Nucor Corp has announced plans to build a ?,?150 million steel beam rolling mill in Brescia, Northern Italy.The Duferdofin-Nucor mill is expected to be fully operational by mid-2022 and will have an annual production of more than 1 million tonnes of...Read More
Gold's $30 run-up over the last two sessions is the sharpest we've seen in a while. Was it just a knee-jerk reaction to continuing weakness in U.S. stocks? Probably. But we'll keep a close eye on it nevertheless, since gold sentiment is so negative, sometimes verging on despair. Many investors who have followed bullion's bear market closely since prices peaked eight years ago just above $1900 se...Read More
By: Ira EpsteinGold came alive as the markets brought rates down. Gold still very much sideways on long-term view. It has been a long time!Read More
Demand for flat steel in Turkey improved in May especially in the export market, after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets. And local producers have now filled their order books until August, they said on Friday May 31. Turkish steel prices also began to increase from May 17, when the US duties wer...Read More
German turnaround investor Mutares has completed the acquisition of TrefilUnion, the French wire products subsidiary of steelmaker ArcelorMittal, it said on Monday June 3.The value of the acquisition was not disclosed.TrefilUnion is comprised of two plants in Commercy and Sainte-Colombe-sur-Seine, both in Eastern France. It was a part of ArcelorMittal's WireSolutions business, which has three othe...Read More
It's beginning to look a lot like a steel market downturn. Fastmarkets examines whether that trend is confined to steel - or whether the broader global economy is in trouble.Hot-rolled coil prices have begun reflecting trends not seen since the 2008 global financial crisis and its aftermath - the Great Recession. Fastmarkets has taken the pulse of markets in the United States, Europe, China a...Read More