RAPAPORT... A colored-stone miner based in Dubai claims to have unearthed the world's largest gem-quality ruby.Fura Gems discovered the 101-carat rough at its mine in Mozambique, the company said last week. The stone's fluorescence, clarity and vivid-red hue are extremely rare, it added. The miner has named it the Estrela de Fura, Portuguese for Star of Fura.While larger rubies exist, they ar...Read More
RAPAPORT... US retail sales rose gently in August as wage increases and a higher employment rate outweighed the negative impact of inflation.Revenue grew 0.3% from the previous month, compared with a 0.4% decrease in July, according to data the US Census Bureau released last week. August sales climbed 9% from a year earlier."Household spending remains steady even as costs continue to rise," said N...Read More
(IDEX Online) - One of the world's largest rubies, a 101-ct rough gemstone recovered in Mozambique, is to be auctioned next month.The Estrela de Fura, recovered by Dubai-based miners Fura, could become the world's most expensive ruby once it's cut and polished.The record is currently held by the 25.59-ct cushion-cut Sunrise Ruby, a Burmese gemstone which sold for $30.42m at Sotheby&...Read More
(IDEX Online) - Lightbox is selling lower quality polished lab growns with a 25 per cent discount.The De Beers-owned company is charging $600 per carat, for its Lightbox Basics collection - white stones in a "modern sterling silver bezel setting" - rather than its standard $800.It says the Basics stones are all guaranteed to be at least SI clarity, faint color, and a very good cut. Stan...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipBedrock gold discovery adds to Kingwest reignSPONSOREDkingwest resourcesZenith Minerals aiming for new heights with lithium focusSPONSOREDzenith minerals limitedThe proceeds are being raised through a subscription agreement with PearTree Securities that is to see the issuance o...Read More
B2Gold's (TSX: BTO; NYSE: BTG) Fekola mine in southwestern Mali produced 567,795 oz. gold at an all-in sustaining cost of US$765 per oz. sold last year, and this year exploration results and an updated resource estimate for the Anaconda area, about 25 km north of the mine, fuel the company's view that there's upside potential for a lot more gold production to come. Based on drill results from thi...Read More
Shares of Torex Gold Resources (TSX: TXG) jumped 3.1% by midday Friday following the latest drill results from its El Lim??n Guajes (ELG) underground mine in Mexico, where it is conducting a 27,000-metre drill program.ELG underground is part of the El Lim??n Guajes mine complex that also includes three open pits and a processing plant. The mine complex, which began commercial production in 2016,...Read More
Two of Canada's biggest mining companies are teaming up in Mexico at the San Nicolas copper-zinc development project, one of the country's largest undeveloped volcanic-hosted massive sulphide deposits and among the largest globally. Agnico Eagle Mines (TSX: AEM; NYSE: AEM) is taking a 50% interest in Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK) subsidiary Minas de San Nicolas (MSN), which whol...Read More
Pentwater Capital Management LP, the second-largest investor in Turquoise Hill Resources (TSX: TQR) has increased its stake in the Canadian company while again rejecting Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO)'s $43-per-share offer for the 49% of the miner it doesn't already own.The activist investor disclosed it had bought around 1.24% of common stock at $41.01 per share in Turquoise Hill, for...Read More
Mining and commodities giant Glencore (LSE: GLEN) is said to be evaluating the addition of lithium to the suite of metals it trades, as the battery metal has become the driving force behind electric vehicles (EVs) and concerns over lack of supply continue to grow. The Swiss company would initially include lithium in its zinc and copper business run by Jyothish George and Nick Popovic, two unnamed...Read More
Why is the mining industry struggling to attract young people to replace the droves of older workers who are retiring? Raziel Zisman, a Partner at Whittle Consulting who leads its Sustainable Governance Initiative, believes it's because the industry has made little effort to speak to what really matters for young people: purpose and values. To that end, Zisman has put together the LIAMforum, an...Read More
As a career choice, mining has seen better times.As they contemplate their careers and enter post-secondary education, the focus of young people has been on anything but mining, which, in fact, ranked last in a list of nine career sectors in an Abacus Data poll conducted in 2021 with the Mining Industry Human Resources Council (MiHR)."We had Abacus Data poll 3,000 youth across the country on perc...Read More
The Precious Metals Summit currently underway in Beaver Creek, CO has heard how gold is poised to play an increasingly important role in a changing global geopolitical landscape.During a keynote presentation, Incrementum AG managing partner and investment manager Ronald-Peter St??ferle said gold could be a monetary communication tool between vying blocks. It could become re-monetized because of it...Read More
Ucore Rare Metals (TSXV: UCU; OTC: UURAF) has made "significant strides" in the procurement and construction process of its commercial demonstration plant for testing the RapidSX rare earth element separation technology developed by Innovation Metals Corp. The facility is on track for commissioning in the fourth quarter of this year.The test work, which is taking place at Ucore and Innovation Met...Read More
SilverCrest Metals (TSX: SILV), which is in the midst of commissioning its Las Chispas gold-silver mine in Sonora state, Mexico, said reliability issues with electricity supplies have caused unspecified delays in completing its first metal from the mine.The Canadian precious metals exploration and development company said power supplies to its operations were not "at a steady state", but noted the...Read More
Shares in Tertiary Minerals (LSE: TYM) jumped on Thursday after the junior said it had inked a technical cooperation agreement with First Quantum Minerals (TSX: FM), which would "turbo-charge" its copper exploration projects in Zambia.The deal covers Tertiary's Mukai and Mushima North project, in Zambia's north-western province. It is directly adjacent to First Quantum's Trident project, which i...Read More
Copper Fox Metals (TSXV: CUU; OTC: CPFXF) has suspended plans to complete the proposed 2,500-metre drilling program on its 100% owned Eaglehead polymetallic porphyry copper project in northwestern British Columbia. The property is located 50 km east of Dease Lake, covering a large portion (nearly 165 sq. km) of the Lower Jurassic age Eaglehead stock.The decision to suspend drilling comes as the Ca...Read More
Perhaps while gazing into his crystal ball, Elon Musk managed to predict today's resource crisis with pinpoint accuracy. Under his guidance, Tesla evolved from a relatively unknown niche brand to the world's largest manufacturer of plug-in EVs. Regardless of whether you love or hate his personal brand of insanity, Musk's market foresight is top-notch. Tesla made it through the pandemic relativel...Read More
Biden's recent economic battle against China has been a one-two strategy.First, pump money into previously neglected industries - for best results, make it a lot of money. Next, once the seed is planted, dig a wide moat by banning any business with Chinese competitors.Then, when the newly created domestic industry is on its feet and foreign ties are severed, funnel all that extra demand directly...Read More
Stansberry Research, Released on 9/19/22Considering that the U.S. dollar has gone up 15% on the year, "gold has performed amazingly well," argues Gareth Soloway, president and CFO of InTheMoneyStocks.com. Gareth says that he is a huge gold bull due to the relative performance of gold to the dollar, "and the fact gold is only down 5% with the dollar up 15% says all you need to know." He continues o...Read More