After the bearish progress, oil pricesslipped slightly as worries about the global growth outlook overtook fearsabout the supply shortage.Macroeconomics On the macroeconomic view, the greenbackfound support on its 50-Day Moving Average (DMA) at the beginning of the weekbefore resuming its rally upward and approaching its monthly highs of$110-110.50. Will the quarterly R3 pivot ($115) be reached an...Read More
Gold continues tolanguish near major lows after a rough summer, deeply out of favor with traders. Oddly this leading alternative investment seemsoblivious to the first inflation super-spike since the 1970s. That should be driving big gold demand, fuelinga major upleg. But that classic inflationaryresponse has been temporarily delayed by heavy-to-extreme gold-futures selling. ...Read More
The proceeds are being raised through a subscription agreement with PearTree Securities that is to see the issuance of about 1.51 million shares at a price of C$13.27 per share.Read More
Where to from here?by Keith Weiner of Monetary-MetalsWe finally had a resolution, of sorts, in silver. Since April 13, we have had a falling price of silver (indicated as a rising price of the dollar, as measured in silver). And along with this price trend, a growing scarcity of the metal to the market (i.e. the cobasis, the red line). Indeed, the price (of the dollar) and silver scarcity move wi...Read More
RAPAPORT... Experts discussed the important topic of fancy-shape diamonds in the latest Rapaport webinar, sharing their views on what's driving demand and how technology is changing the market.The second in a series of sessions sponsored by the International Gemological Institute (IGI) delved into the popularity of different cuts among consumers, how manufacturing has improved, why the role o...Read More
RAPAPORT... Belgian manufacturer HB Antwerp has unveiled a digitally secured diamond vault for individual stones, claiming the device ensures origin verification and protects goods from tampering.The new HB Capsule can only be opened by authorized people who are next in line to interact with the diamond, the company said Thursday. The system uses blockchain technology and data analytics to tr...Read More
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