(Kitco News) Toronto police are asking the public's help in their hunt for suspects involved in the theft of $11 million worth of pure silver bars.Bars of the precious metal were stolen from a shipping container in Montreal, Quebec, on January 2020. Suspects took off with USD$11 million worth of pure silver in bullion form.Since then, police have partially recovered some of the physical metal in T...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) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have...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) - Agnico Eagle Mines (NYSE: AEM) (TSX: AEM) today reported record quarterly gold production of 541,663 ounces (including Hope Bay) in Q3 2021, an increase of 10% compared to Q3 2020 (492,693 ounces).The...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) - Central banks are at a perilous crossroads as they must deal withrising inflation pressures and make sure that the global economy remains strong.In a recent report, Thorsten Polleit, chief economist at...Read More
(Kitco News) - Rahul Paul, CEO of Radisson Mining Resources, discusses withDavid Lin, anchor for Kitco News, the outlook for the gold sector. According to Paul, the precious metal is well positioned formore upside."The U.S. inflation rate is the highest we've seen in13 years. Typically, the Fed would hike interest rates to keep inflation undercontrol but U.S. government debt is at a record high o...Read More
Mr. Robert Hinchcliffe reportsGALWAY METALS DRILLS OAK BAY FOR THE FIRST TIME AFIRST HOLE RETURNS 6.0 G/T AU OVER 3.3M WITH FOLLOW-UP HOLES EXTENDING THIS NEW ZONE 110 METRES AT CLARENCE STREAMGalway Metals Inc. has begun drilling on the Oak Bay property that was optioned in July, 2020. Mineralization at Oak Bay and neighbouring Lily Hill consists of arsenopyrite-rich quartz veining in altered, si...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 are higher and near their daily highs at midday Wednesday, supported by a weaker U.S. dollar index and falling U.S. Treasury yields on this day. Trading was choppy and on both side...Read More
Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES ANNOUNCES COMPLETION OF ITS 2021 DRILL PROGRAM AT THE HERBERT GOLD PROJECT IN SE ALASKAGrande Portage Resources Ltd. has completed its two-rig drill program at the Herbert gold project in southeast Alaska. The company completed 19 holes and approximately 8,150 metres of drill core which included both stepout and infill holes, effectively expanding t...Read More
(Kitco News) The Bank of Canada (BoC) ended its quantitative easing while holding its key interest rate steady on Wednesday. Gold priced in Canadian dollars reacted with a double-digit drop, last trading down $20 on the day. The BoC held its overnight rate at 0.25% while stating that it is ending quantitative easing. The Bank added that it is entering the reinvestment phase. Previously, the QE pro...Read More
Dr. Michael Gunning reportsVR COMPLETES 2021 DRILL PROGRAM AT HECLA-KILMER AND REPORTS FINAL DATA FROM 2020 WHICH CONFIRM THE REE AND CRITICAL METAL DISCOVERY AT H-KVR Resources Ltd. has completed thefall 2021 drill program at its Hecla-Kilmer (H-K) project in Northern Ontario, with five holes completed to target depths for a total of 2,604 metres. XRF scanning is currently being done on each dril...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 27 that are worth another look.Long and flat-rolled steel producer Gerdau expects demand to continue to grow in 2022, after a rapid recovery of the local market this year from the lows of 2020 that were caused by the Covid-19 pandemic, the...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) - Reuters has reported that China's net gold imports (via Hong Kong) rocketed nearly 60% in September. The data from the Hong Kong Census and Statistics Department showed that this would mean this i...Read More
Teck (NYSE:TECK) said today its adjusted EBITDA was a record $2.1 billion in Q3 2021, more than triple the same period last year.The Vancouver-headquartered diversified miner said realized copper, zinc and steelmaking coal prices were US$4.25 per pound, US$1.38 per pound and US$277 per tonne, respectively, in the month of September. Profit attributable to shareholders was $816 million or $1.53 per...Read More
Consolidating its position in the battery materials supply chain amid fierce competition is the biggest challenge facing Greatpower Nickel & Cobalt Materials Co, company president Dongqiang Cao told Fastmarkets in an interview.Previously, attracting investment and improving the ability to provide finance had proved to be a bottleneck in the early stages of Greatpower's development, when it expande...Read More
Top-ten global gold producer Newcrest (TSE:NCM) announced today that gold production was 396,000 ounces and copper was 25,000 tonnes in its Q3 quarterly report. Gold production was 27% lower than the prior period mainly driven by lower mill throughput rates at Cadia, Lihir and Telfer, said the company. Newcrest Managing Director and CEO, Sandeep Biswas, expects production to increase. "Newcrest's...Read More
By Marcelo RochabrunLIMA, Oct 27 (Reuters) - Peruvian residents living near MMGLtd's Las Bambas copper mine agreed on Wednesday tolift a road blockade affecting the company's metal shipments,following a public meeting with Prime Minister Mirtha Vasquez.At the meeting, Vasquez said Las Bambas would begintransferring tax funds to the region where the mine is locatedin January, a key demand from resi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 27.Please click...Read More
By Marco AquinoLIMA, Oct 27 (Reuters) - Peru's leftist government onWednesday asked Congress for authorization to overhaul thecountry's tax code with a focus on raising taxes on the miningsector, funds the administration wants to use on socialprograms.The government wants to "perfect the mining sector's fiscalregime," according to a copy of the document filed withCongress. Specifically,...Read More
Oct 28 (Reuters) - Fortescue Metals Group said onThursday its iron ore shipments rose 3% to a record level in thefirst quarter. The world's fourth-largest iron ore miner shipped 45.6million tonnes (mt) of the steel-making commodity in theSeptember quarter, compared with 44.3 mt a year earlier. It beatan RBC Capital Markets estimate of 44.7 mt.(Reporting by Sameer Manekar and Nikhil Kurian Nainan i...Read More
Lundin Mining (TSX:LUN) reported cash flows of $523.1 million generated from operations in its third quarter. Gross profit for the quarter ended September 30, 2021 was $303.9 million, an increase of $104.6 million compared to the prior year quarter.Net earnings for the quarter ended September 30, 2021 were $190.6 million, an increase of $57.0 million compared to the prior year quarter. Net earning...Read More