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) - K92 Mining (TSX : KNT) reported Monday that its quarterly gold equivalent production of 24,122 oz in Q3 2021 was 8% higher than in Q3 2020 (22,261 oz).However, the company said that challenges related...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
DENVER, Nov 15 (Reuters) - U.S. oil producers are strugglingto find enough crews, vehicles and equipment to take advantageof rising global demand and a seven-year high in crude prices,say executives at oilfield service firms.The problems are preventing the world's top oil producer andconsumer, the United States, from responding to higher prices and could mean it takes longer for global output to m...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) - Pure Gold Mining (TSX-V: PGM) reported gold production of 9,260 ounces in Q3 2021 at its PureGold mine in Ontario, a 54% increase compared to the second quarter driven by higher grades and increased to...Read More
Nov 15 (Reuters) - Wall Street indexes were pulled off session highs on Monday as technology stocks came under pressure from rising Treasury yields, although losses in the Dow Jones were mitigated by Boeing, which surged on a potential Saudi Arabian order.The Nasdaq (.IXIC) fell the most among its peers, coming off early gains as heavyweight technology stocks retreated. Higher Treasury yields tend...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...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) -Goldprices are slightly higher in early U.S. trading Monday and did poke to anotherfive-month high. Gold and silver bulls remain in technical control amidnear-term price uptrends firmly in place. Fears...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...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) - Argonaut Gold (TSX: AR) announced today that the company produced 58,777 gold equivalent ounces in Q3 2021, an increase of 20% compared to Q3 2020.The company explained that higher production was prima...Read More
Nov 15 (Reuters) - Goldman Sachs has forecast growth in the U.S. core personal consumption expenditures (PCE) index to nearly halve by the end of 2022, as the U.S. bank expects a surge in commodity prices and supply-chain constraints to ease after causing near-term price spikes.Economists at Goldman Sachs expect the core PCE index - the Federal Reserve's preferred inflation measure - to fall to 2....Read More
Turkey's domestic auto bundle scrap prices have increased due to a weakening lira, while ship scrap prices have been largely stable, market participants told Fastmarkets on Monday November 15.The Turkish lira weakened further against the United States' dollar after the Turkish central bank cut the benchmark interest rate by 2% to 16% late in October.The central bank was expected to cut the interes...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
OTTAWA, Nov 15 (Reuters) - The Bank of Canada will not raise its benchmark interest rate until the slack in the country's economy is absorbed, which has not yet happened but is getting closer, Governor Tiff Macklem said in a newspaper opinion piece on Monday.Macklem also noted that while inflation risks have increased - driven by pandemic-induced demand shifts, supply disruptions and higher energy...Read More
WASHINGTON, Nov 15 (Reuters) - In need of a political boost, President Joe Biden will sign a $1 trillion infrastructure bill on Monday at a ceremony expected to draw Democrats and some Republicans who were instrumental in getting the legislation passed.The measure is expected to create jobs across the country by dispersing billions of dollars to state and local governments to fix crumbling bridges...Read More
South Korea's copper smelter LS Nikko is diversifying its raw-materials portfolio by smelting circuit boards in mobile phones collected across the country, the company said on Monday November 15.The initiative is in collaboration with mobile phone distributor SK Networks to collect 50,000 used mobile phones via an artificial intelligence-based recyling platform, which could help manage and process...Read More
LONDON, Nov 15 (Reuters) - The euro touched a May 2020 low against the safe haven Swiss franc on Monday, and the dollar hovered around a 16-month high as U.S. inflation raised bets on a Federal Reserve interest rate hike.With inflation fears rising and concerns over the COVID-19 pandemic pressuring global economic growth, the Swiss franc hit 1.0530 against the euro overnight, its highest level ver...Read More
Nov 15 (Reuters) - U.S. stock indexeswere set to rise on Monday as economically resilient sectorsbenefited from inflation jitters, while investors awaited a slew of retail earnings and economic data this week to gauge the health of consumer spending.The three major Wall Street indexes had fallen between 0.3% and 0.7% last week on concerns over high inflation and weakening consumer sentiment. Inves...Read More
Share this article VANCOUVER - Hudson Resources (TSX 'HUD'; OTC 'HUDRF') announced that based on new mining legislation passed on November 8th by the Greenland Government, it will focus efforts on advancing its 100% owned Sarfartoq rare earth element (REE) project.The new legislation, which was passed by a narrow majority, bans the development of mineral projects with a uranium content greater t...Read More
Share this article VANCOUVER - First Quantum Minerals Ltd. (FM-TSX) is set to appoint Tristan Pascall as the company's next CEO.Pascall, who is currently First Quantum's chief operating officer, will assume his new responsibilities in May 2022, when he succeeds the company's current Chairman, CEO and founder Philip Pascall. When he retires as CEO, Philip Pascall will continue to serve as Chairman...Read More
Key data from the Friday November 12 pricing session in China.Key drivers China's cobalt metal price rose amid gains in the local futures market and a rally in the international benchmark cobalt metal price. Chinese cobalt tetroxide suppliers pushed up offers despite thin buying amid...Read More