Oct 26 (Reuters) - Chile's Codelco, the world's largestcopper miner, has offered to supply copper to a South Koreancustomer at a premium of $100 a tonne in 2022, two sources withdirect knowledge of the matter said, a 20% rise from this year.The higher rates, paid on top of the London Metal Exchangebenchmark copper price , underscore anticipated strongdemand for the metal as the global economy cont...Read More
International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said. Meanwhile, the "mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.Fastmarkets' benchmark price assessment for cobalt standard g...Read More
By Mark JohnLONDON, Oct 26 (Reuters) - Australian mining billionaireAndrew Forrest called ahead of next week's COP26 climate talksfor governments to ensure massive existing subsidies for fossilfuels did not undermine the drive for clean alternatives such asgreen hydrogen.Forrest, whose Fortescue Metals Group aims tobecome carbon-neutral by 2030, has been travelling the world topromote green hydrog...Read More
Oct 26 (Reuters) - South Africa's Sibanye Stillwater said on Tuesday it would buy Santa Rita nickel mine andSerrote copper mine in Brazil for $1 billion, in what will beits biggest investment in the battery metals sector.The precious metals miner said it had signed agreements withaffiliates of funds advised by Appian Capital Advisory to buyboth the mines for a cash consideration and a 5% net smelt...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
(Updates prices, adds chart)LONDON, Oct 26 (Reuters) - Euro zone inflation expectations among bond investors hit a new seven-year high above 2.07% on Tuesday, shooting past the European Central Bank's target on the back of soaring oil prices and supply chain crunches around the world.Oil prices reached multi-year highs this week on the back of tight global supply and strengthening fuel demand.This...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold and silver prices area bit weaker in early U.S. trading Tuesday, on some normal backing and fillingon the charts following recent gains. Both metals' bulls are comfortable atpresent, as near-term...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Sibanye-Stillwater (NYSE:SBSW), the world's largest primary producer of platinum and rhodium, announcedTuesday that it has signed definitive purchase and sale agreements withaffiliates of funds advised...Read More
Mexican ferrous scrap prices declined again over the past week, with lower prices becoming more widespread among buyers in the country's two main markets, sources told Fastmarkets.But market participants believe prices are close to reaching a bottom, with some buyers having difficulty securing deals at lower prices."We continued to see low prices, but it seems that prices are reaching a minim...Read More
Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) reports gold production of 111,220 ounces for the quarter ended September 30, 2021 from its El Lim??n Guajes ("ELG") mining complex in Mexico. Gold sold during the quarter was 118,980 ounces at an average realized gold price of $1,785 per ounce. With 358,780 ounces of gold produced through to the end of the third quarter, production i...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Now that we had some kind of decent recovery in the silver priceit will be important to look at retracement levels and potential resistancezones. The support levels look important because the price loo...Read More
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports consolidated production for Q3 2021 was 32,100 gold ounces and 792,000 silver ounces, or 42,900 gold equivalent ounces ("GEOs"), compared to 30,400 GEOs in Q3 2020. Consolidated production for the nine months ended September 30, 2021 is 114,300 GEOs, compared to 85,700 GEOs during the same period in 2020. 2021 production is trending towards the mid...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Bitcoin-U.S. dollar are abit weaker in early U.S. trading Tuesday. The market is now seeing some routine"backing and filling" in an existing uptrend. The Bitcoin bulls still have the solidoverall near-...Read More
Freeman Gold Corp. (CSE: FMAN, OTCQB: FMANF, FSE: 3WU) is pleased to report geochemical results from the newly discovered Beauty Zone.This zone lies approximately 600 metres west of the Lemhi Gold Deposit where Freeman recently reported a maiden Mineral Resource Estimate in July 8, 2021.The untested Beauty Zone lies wholly within Freeman's patented mining claims and is defined by a 350 metre by 25...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Newmont Corporation (NYSE:NEM, TSX: NGT) today announced that its Board of Directors declared a quarterlydividend of $0.55 per share of common stock, payable on December 28, 2021 toholders of record at...Read More
Take a look at this chart...This is a chart of Digital World Acquisition Corp. (NASDAQ: DWAC), a technology and financial services SPAC that blew through the roof last week after it was announced it would be taking Donald Trump's planned social media platform public.The stock gained more than 120% in a single day.No matter how you feel about Trump, the bottom line is that this guy has a lot of fan...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Russian mining companyPolymetal, a top-10 global gold and silver producer, reported today that its Q32021 gold equivalent production decreased by 8% y-o-y to 437 Koz as resultsreverted to the mean from...Read More
LAS VEGAS, Oct 26 (Reuters) - A top U.S. bank regulator said U.S. officials are looking to provide a clearer path for banks and their clients that are looking to hold cryptocurrencies, in order to keep control over the fast-developing asset.Jelena McWilliams, who chairs the Federal Deposit Insurance Corporation, told Reuters in an interview on Monday that a team of U.S. bank regulators is trying t...Read More
DETROIT (Reuters) - General Motors Co's electric commercial vehicle business, BrightDrop, will build out a dedicated dealer network to drive growth, the unit's head said on Tuesday.While Travis Katz, BrightDrop's chief executive, did not disclose how many dealers will be in the network, he said it will be smaller than GM's retail network and focused in urban markets. The locations will be tailored...Read More