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) - Minera Alamos (TSX VENTURE: MAI)announced Thursday that it has made an initial delivery of gold dor?(C) from itsSantana gold project in Sonora, Mexico. The gold was recovered fromearly material stack...Read More
WASHINGTON/LONDON (Reuters) -Stocks climbed globally to new records on Thursday after the U.S. Federal Reserve decision to start scaling back its bond-buying program this month and the Bank of England's plan to keep interest rates on hold, dashing investors' expectations for a hike.European stocks held their own highs [.EU] while the pound tumbled nearly 1% after the hotly anticipated decision by...Read More
Wednesday was FED Day or themeeting of the three blind mice. Either way, they once again showed howclueless they are. The FED has changed their transitory call on inflation to:it will be transitory. Inflation is not transitory, and it is hotter than theywill admitBefore Wednesday's FED Decision,gold, silver and platinum were getting clobbered before a late-day rally cutlosses in gold and platinum....Read More
OTTAWA, Nov 4 (Reuters) - Canada's exports fell in September as a semi-conductor chip shortage weighed on motor vehicle and parts production, though that decline was partially offset by record high crude oil exports, Statistics Canada data showed on Thursday.Imports were down 3.0%, also hit hard by the worsening supply chain issues for motor vehicle and parts. Canada's trade surplus with the world...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 havemade good rebounds from selling pressure seen Wednesday, before the afternoonFOMC meeting conclusion. It appears metals traders were preparing for a hawkishFOMC statement an...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) - Teck Resources and OldendorffCarriers today announced an agreement to employ energy efficient bulk carriersfor shipments of Teck steelmaking coal from the Port of Vancouver tointernational destinations...Read More
NEW YORK, Nov 4 (Reuters) - The Fed's well-telegraphed taper announcement has done little to soothe the nerves of some investors, who remain on edge about stubbornly persistent inflation and are looking to trim risk as they prepare for rockier times.The Federal Reserve on Wednesday said it will begin paring its monthly bond purchases this month with plans to end them in 2022, marking the beginning...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) - Yesterday, Aura Mineralsannounced that its Board of Directors has decided not to continue investing inits indirect wholly owned subsidiary Z79 Resources, Inc. ("Z79") and itsindirect wholly owned subsi...Read More
Base metals prices on the LME and SHFE were mixed early on Thursday November 4, but neither the metals nor the broader markets have been rattled by the US Federal Reserve's announcement that it is to start tapering its monthly bond buying programme.The United States Federal Reserve to trim bond buying by $15 billion a month - it had been buying $120 billion a monthA pick-up in Covid-19 cases in Ch...Read More
Nov 4 (Reuters) - The S&P 500 and the Nasdaq indexes hit a record high on Thursday, propped up by a slew of stellar earnings reports and as investors shrugged off the Federal Reserve's first steps to begin paring its pandemic-era support.Shares of Qualcomm Inc (QCOM.O) jumped 12.6% after the chipmaker forecast better-than-expected profit and revenue for its current quarter on soaring demand...Read More
As an unapologetic environmentalist, I've long been an advocate of transitioning to a cleaner, more sustainable energy and transportation economy.But as an unapologetic libertarian, I've also long been an advocate of seeking market-based solutions to make this transition possible instead of relying on imbecilic government intervention.Now, this week, world leaders have gathered in Glasgow to discu...Read More
A summary of Albemarle's results for the third quarter of 2021, as stated in the US-headquartered lithium and other specialty chemicals producer's quarterly report published on Wednesday November 3.In brief The global lithium producer attributed improved net lithium sales year on year over the quarter to higher volumes sold (30% of the increase) and higher pricing achieved - helped by favorable fo...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) - Great Panther Mining (TSX:GPR) (NYSEA: GPL) reported that for Q3 2021, the company recorded a net loss of$18.0 million compared with net income of $18.6 million for Q3 2020. The company said that lower...Read More
Sentiment was buoyed among most market participants at the annual Nickel & Cobalt conference held by Chinese information provider Antaike on November 1-3 in Ningbo, China, but the strong resurgence of lithium iron phosphate (LFP) batteries has created uncertainty about consumption of the two metals.Fastmarkets summarizes below four key takeaways from the sidelines of the conference.LFP outperforms...Read More
China's Chengyi Lithium International Ltd is to pay $76.5 million for a controlling stake in Max Mind Investment Ltd, which owns the Max Mind Zimbabwe lithium business.The subsidiary of battery materials producer Chengxin Lithium Group has signed an equity transfer agreement with Mad Max Investment to acquire a 51% stake in the African company, Chengxin Lithium said on Wednesday November 3.Max Min...Read More
Nov 4 (Reuters) - The world's top central banks are pushing back in unison on the idea that higher interest rates will be needed to fight a run of high inflation and have now bound their monetary policies tight to the hope that the world's tangled supply chains are on the verge of repair.The Bank of England on Thursday joined the Federal Reserve and the European Central Bank in pinning a dovish po...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Hot-rolled coil prices in Europe were stable to slightly higher on Thursday November 4 despite muted buying, while market sentiment remained optimistic, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,022.50 ($1,184.83) per tonne on November 4, up by ?,?8.21 per tonne from ?,?1,014.29 per tonne on November 3.The index was...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) - Hecla Mining Company(NYSE:HL) announced Thursday that in Q3 2021, net loss applicable to commonshareholders was $1.1 million, or 0.2 cent per share, compared to net income of$15.1 million, or 2.9 cents...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) - Equinox Gold (TSX: EQX, NYSEAmerican: EQX) reported today that the company produced 139,758 ounces of gold inQ3 2021, an increase of 12% over 124,867 ounces produce in Q3 2020.The company said itrecogn...Read More