(IDEX Online) - Diamond miners in Lesotho are urging the government to reconsider new rules that would halt refunds on VAT paid on the goods, services and capital items for day-to-day operations.They say the proposed VAT Amendment Bill would harm the industry, which produced 1.1m carats in 2019.Australian-owned Lucapa, which operates Mothae, the world's highest US$ per carat kimberlite diamon...Read More
(IDEX Online) - A luxury jeweler in Ukraine that started making body armor after the Russian invasion is now sending wedding rings to frontline soldiers.Oberig's manufacturing base in Kharkiv - Ukraine's heavily-shelled second city - has so far contributed more than 6,000 items of body armor to the war effort.And now it's sending silver wedding rings - 148 and counting - to soldiers...Read More
(IDEX Online) - Lusix, the solar-powered lab grown company, has announced $90m in an investment round for its Sun Grown Diamonds.LVMH Luxury Ventures is among those funding the Israel-based company, founded by Benny Landa, the "father of commercial digital printing" who sold his company Indigo to HP for $830m.Half the $90m was revealed in February, when the company said it had secured funding from...Read More
CONEXPO-CON/AGG, Taking Construction to the Next LevelSPONSOREDconexpo-con/agg 2023Advancing Copper and Gold Projects in an Under-Explored Porphyry DistrictSPONSOREDresilience miningServicing China's Steel SectorSPONSOREDaspire miningChinese Strategic AllianceSPONSOREDxanadu minesThe government has successfully implemented changes to benefit the sector including taxation changes, reducing the...Read More
CONEXPO-CON/AGG, Taking Construction to the Next LevelSPONSOREDconexpo-con/agg 2023Advancing Copper and Gold Projects in an Under-Explored Porphyry DistrictSPONSOREDresilience miningServicing China's Steel SectorSPONSOREDaspire miningChinese Strategic AllianceSPONSOREDxanadu minesGudai-Darri, approved in late 2018, represents Rio's first greenfields Pilbara iron ore development in over a decad...Read More
CONEXPO-CON/AGG, Taking Construction to the Next LevelSPONSOREDconexpo-con/agg 2023Advancing Copper and Gold Projects in an Under-Explored Porphyry DistrictSPONSOREDresilience miningServicing China's Steel SectorSPONSOREDaspire miningChinese Strategic AllianceSPONSOREDxanadu mines"Canada is home to almost half of listed companies in the mining and minerals space, with a combined market cap of...Read More
CONEXPO-CON/AGG, Taking Construction to the Next LevelSPONSOREDconexpo-con/agg 2023Advancing Copper and Gold Projects in an Under-Explored Porphyry DistrictSPONSOREDresilience miningServicing China's Steel SectorSPONSOREDaspire miningChinese Strategic AllianceSPONSOREDxanadu minesSome 67% of regional silver production and 56% of our copper production was exposed to water scarcity.Read More
Antofagasta announced a leak in the Los Pelambres concentrate pipeline on June 7. Antofagasta reports that restrictions to access the leak have been partially eased, allowing repairs to begin.Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the June Empire State Manufacturing Survey was unchanged versus a drop of 11.60 in May. Actual was a drop of 1.2. Consensus for May Retail Sales was an increase of 0.1% versus a gain of...Read More
Here's the good news: The stock market didn't lose nearly as much today as it did yesterday. The Nasdaq even posted a 19-point gain.Of course the Dow still lost another 151 points and the S&P lost another 14. The S&P slipped into bear market territory yesterday, which doesn't bode well for the economy.Since 1970, whenever the stock market fell 18% or more over a four-month time frame, the...Read More
The S&P is closing in on bear market territory, which is defined as a decline of 20% or more from recent highs.And it may fall even further. Since World War II, there have been 14 bear markets. The median loss during these bear markets has been 30%, and they lasted about a year (hat tip to Bespoke Investment Group).The Kind of Drop We Haven't Seen in DecadesAnd with the Fed ready to raise inte...Read More
Today's red-hot inflation numbers only reinforce the notion that the Fed will aggressively raise rates at next week's FOMC meeting, and also at July's meeting. We don't have to guess at that. The Fed has already told us that's their intention, even before today's report.It may even "shock and awe" investors with a 75-basis-point hike this month or next month. Markets are predicting 50-basis-point...Read More
You may say it is cynical. You may say it is cancerous - and you would be correct.Yet can you say it is fully false?The “people” give the orders in democracy, say the civics books.Yet deeper probing reveals the American people wield limited influence over their governing affairs.Unelected and unaccountable judges, bureaucrats, pettifoggers, understrappers and jacks-in-office do the pri...Read More
I've said from the start that Russia will win the kinetic war in Ukraine and the global financial war as well.That doesn't mean I'm pro-Russian or condone Putin's invasion. It's just my objective analysis based on the facts.Of course, winning is a subjective term in both contexts. As applied to the kinetic war, winning does not mean a complete conquest of Ukraine. That was never Putin's goal.It me...Read More
Despite strong commodity prices, money has not been flowing into the mining sector - and that is likely to be the case as long as market volatility and uncertainty continue, according to a panel of mining-focused investment bankers at this week's Prospectors and Developers Association of Canada (PDAC) convention. The June 13 conversation, moderated by Northern Miner Group president Anthony Vaccar...Read More
From a lack of skilled professionals to rising costs due to inflation amidst the pressure to quickly build an entirely new industry, Canada must overcome several obstacles before it can build the battery ecosystem it often promotes, industry experts said at a session at this week's PDAC conference in Toronto.While the country has over the last year taken steps to support miners hunting for battery...Read More
Kinross Gold (TSX: G; NYSE: KGC) said on Wednesday it had sold its Kupol mine and Udinsk project in Russia to Highland Gold Mining for a total of $340 million in cash, half of the price announced in April.The Canadian miner suspended operations in Russia in early March to both comply with Western sanctions against Moscow over its invasion of Ukraine and avoid reputational damage by staying in th...Read More
Critical Elements (TSXV: CRE; OTC: CRECF) has delivered a new feasibility study on its wholly owned Rose lithium-tantalum project situated in the Eeyou-Istchee, James Bay region of Quebec, confirming the potential for a low-risk, reliable producer of high-quality lithium.The study envisions a 17-year operation that will excavate a total of 26.3 million tonnes of ore grading 0.87% Li2O (lithium o...Read More
For investors and companies involved in the extraction industries, it has been impossible to ignore the meteoric rise of battery materials in recent years. Over the course of 2021, cobalt prices more than doubled, rising by 119%, lithium prices surged almost 400% and copper prices also reached all-time highs.A significant driver of these price movements is the energy transition, which represents t...Read More
In the Northwest Territories, infrastructure that lags behind southern Canada is limiting the potential of the territory's mining development and increasing its costs as well, said leaders of the N.W.T. government at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto on June 14. Premier Caroline Cochrane and Minister of Industry, Tourism and Investment Caroline Wawz...Read More