Bank of America forecasts global copper consumption could contract by 18% year-over-year in 2020 should global GDP drop by an estimated 4.2% due to economic disruptions caused by the coronavirus pandemic.Although a decline in copper purchases of this magnitude "would be devastating for the red metal and also the wider mined commodities complex," the bank said in a research note today, it also note...Read More

Northern Dynasty Minerals (TSX: NDM) appears to be back on track towards obtaining final permits for its proposed massive copper-gold mine in Alaska after the US Environmental Protection Agency (EPA) declined to subject the project to water pollution restrictions evaluations, which have effectively stalled the project since they were outlined in 2014.The move reduces the likelihood of a potential...Read More

Chile's Codelco, the world's largest copper producer, saw profit nosedive in the first three months of the year as prices for the metal dropped to an average of US$2.49 per lb. in the same period compared to US$2.72 a year earlier.The state-owned miner reported an 85% decline in profit to US$54 million in the first quarter of 2020, even though production climbed 6% to 361,000 tonnes.Lower costs -...Read More

BMO Capital Markets has hiked its long-run gold and silver price forecasts to US$1,400 per oz. and US$18.25 per oz., increases of 16.7% and 5.8%, respectively.The bank's long term price forecasts have been "static" since 2015, the analysts stated, noting that "changing a long-term price is not something we take lightly, or indeed do very often."In the nearer term, BMO's analysts forecast gold pric...Read More

After beginning the year by formally appointing Peter Kukielski as its CEO, and this month settling a long-drawn-out boardroom battle with its second-largest investor, Canadian copper producer Hudbay Minerals (TSX, NYSE: HBM) is setting its sights on gold.Despite strong performance at its Canadian operations, Hudbay swung to a loss in the first three months of the year, mainly due to weak base met...Read More

Chinese copper smelters are still searching for spot raw materials to feed their furnaces while the supply of scrap and domestic blister copper remains crimped. The spot refining charge (RC) for 98-99% blister copper on a cif China basis dropped further to $115-125 per tonne at the end of May, according to Fastmarkets' assessment - the lowest since the monthly price was launched in February 2018.&...Read More

Prices for bulk ferrous scrap cargoes imported into Vietnam have continued to rise over the week ended Friday May 29 but some market sources were unsure whether the upward momentum would persist.Vietnamese scrap prices have performed strongly over the past seven days amid a combination of high demand from the South-east Asian country and Japanese sellers pushing prices upward.The high prices paid...Read More

Ferrous scrap buyers in South Korea have been forced to pay higher prices for Japanese material over the week ended Friday May 29 due to sell-side pressure, market sources have told Fastmarkets.Japanese scrap prices have moved up strongly through the week, with supplies of H2 heavy scrap coming under strain from exporters filling a backlog of existing orders from lower collection volumes.Strong de...Read More

Prices for heavy melting scrap (HMS) imports in Taiwan rose over the week to Friday May 29 due to an ongoing supply deficit, sources said. Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $233-234 per tonne on Friday, up by $5 per tonne from a day earlier and $2-3 per tonne higher than $230-232 per tonne cfr...Read More

Overcapacity in the aluminium industry is highly unlikely to be erased in the foreseeable future, according to the former head of Europe's largest aluminium producer, Norsk Hydro.Svein Richard Brandtz??g, who was Norsk Hydro chief executive for a decade from 2009, said the market will eventually revert to a more balanced supply-demand picture but that this will take time to emerge. "History shows...Read More

NEW TOOLS IN ITS LATEST MICROMINE UPGRADESPONSOREDmicromineCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesMacron unveiled an US$8 billion support package for France's car industry on Tuesday, including subsidies of up to €12,00...Read More

The U.S. EPA in May approved a fuel pathway under the Renewable Fuel Standard for a biomass gasification plant under development in McFarland, California, that will produce renewable natural gas (RNG) for sale into the transportation fuel market.Read full newsRead More

The European Commission presented on May 27 a revamped long-term EU budget and a ?,?1.85 trillion recovery plan, noting that it provides the instruments to build a modern, clean and healthy economy, which secures the livelihoods of the next generation.The Commission is proposing to create a new reRead full newsRead More

With M&A activity in the gold space seemingly set to continue, will major miners make smart decisions on what they buy? When asked if he thinks they've learn...Read full newsRead More

GoldSpot Discoveries Corp. is pleased to announce that, Vincent DRead full newsRead More

Rokmaster Resources Corp. is pleased to announce that it has openRead full newsRead More

Like much of the world, Argentina remains locked down, its citizens more or less homebound due to the global COVID-19 pandemic. Amid the torpor, Yamana Gold, a Canada-based mining company, has forged a new partnership around a gold mining project in the Patagonian province of Chubut. The move has led activists to accuse Yamana of [...]Read full newsRead More

The current economic events are a plus for gold. But gold stocks have gotten ahead of themselves right now.More From InvestorPlace Top Stock Picker Reveals His Next 1,000% Winner America's Richest ZIP Code Holds Shocking Secret #1 Under-the-Radar 5G Stock to Buy Now The 1 Stock All Retirees Must OwnRead full newsRead More

The year 2020 will be one to remember. The COVID-19 pandemic led to the fastest crash in market history. In early March, the TSX Index lost approximately 35% of its value in only a few short weeks, effectively putting an end to the record bull run which began in 2009.The drop was so drastic that several blue chip companies were trading at levels not seen since the 2008 Financial Crisis. A decade&r...Read More

McClellan Financial Publications, IncPosted May 31, 2020May 28, 2020The officially stated rate of U.S. unemployment in April 2020 was 14.7%, the highest since the Great Depression, when the data were not as rigorously tabulated compared to these days. Regardless of whether the 14.7% number is exactly correct (it isn’t), it is still a high number. And May’s number may be higher still wh...Read More