Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
China's making an UNPRECEDENTED move into physical silver, and it's having a SIGNIFICANT impact both the physical and paper markets...Samuel Briggs via KinesisAndrew Maguire explores the marketwide implications of China buying up vast quantities of gold and silver. Andrew Maguire reveals China's making an unprecedented move into physical silver, while also securing huge quantities of gold dor?(C)...Read More
RAPAPORT... WD Lab Grown Diamonds has entered into patent sublicensing agreements with two synthetics companies, enabling them to distribute chemical vapor deposition (CVD) stones in North America and beyond.The deals with Altr and Altr (India), as well as with Evolution Diamond, relate to intellectual property belonging to the Carnegie Institution of Washington, the science organization behi...Read More
RAPAPORT... Rio Tinto has asked a Canadian court to allow it to sell its partner's portion of rough diamonds from the Diavik mine to recoup more than CAD $120 million ($91.4 million). Dominion Diamond Mines, which owns 40% of the joint venture, filed for creditor protection in April, citing mounting debt and an inability to sell its diamonds during the coronavirus pandemic. It has since missed two...Read More
RAPAPORT... US consumers ranked jewelry low on their list of gifts to buy and receive from loved ones, as many plan to curb their spending this holiday season amid strong concerns about economic stability.The category was the bottom pick when it came to items shoppers would purchase as a gift, chosen by only 24% of respondents in Deloitte's recently released 2020 Holiday Retail Survey, which predi...Read More
RAPAPORT... Sotheby's garnered $17.9 million from its Important Jewels sale in New York, with a pink-diamond ring taking the top spot.The pear-shaped, 12.38-carat, fancy-pink, VVS2-clarity diamond ring fetched $4.6 million, or $373,337 per carat, falling within the price range the auctioneer had estimated. It led the auction house's first live jewelry sale in the state since the coronavirus p...Read More
RAPAPORT... Alrosa has delayed its new supply contract for rough buyers until early next year due to uncertainty in the diamond industry, the Russian miner said Friday.The current market environment has made it hard for diamond companies to commit to long-term plans, Alrosa explained. As a result, the company will assess clients' allocations at the end of the first quarter of 2021, and has ex...Read More
(IDEX Online) - The first ever educational course dedicated to lab-grown diamonds is being launched for the industry by GSI.The New York-based lab has graded identified hundreds of thousands of lab-growns and will share its knowledge online through Laboratory-Grown Diamond Essentials."It is imperative that the jewelry industry has the ability to communicate about laboratory-grown diamonds confiden...Read More
(IDEX Online) - Alrosa is to extend existing three-year rough diamond supply contracts to help buyers respond to ongoing market uncertainties.The Russian miner usually analyzes trading activity at the year end, to determine who will be on its long-term client list and what product mix they'll be offered.It is delaying that assessment until the end of March 2021 "to support its clients amid th...Read More
(IDEX Online) - De Beers' diamond output showed a solid third-quarter recovery, down just four cent year-on-year despite the devastating impact of coronavirus.Total production was 7.2m carats compared with 7.4m carats in Q3 2019, according to figures released by parent company Anglo American. Output in Q2 of 2020 was less than half, 3.5m carats.Mark Cutifani, Anglo American chief executive, r...Read More
Remember Cameco Corp (TSX:CCO)(NYSE:CCJ)? For those investors that may have forgotten, Cameco is one of the largest uranium miners on the planet. Unfortunately, being a major player of a commodity that is decreasing in price doesn’t bode well for investors. Here’s a recap of what happened to Cameco and why it matters now more than ever.A nuclear resurgence is occurringNuclear reactors...Read More
Your investing strategy should be appropriate whether the market crashes next week or the next year or even if the market continues to gain momentum to touch record highs. In case you are worried about market volatility in the future these three strategies will help you tide over the uncertainties.Bet on market leadersIt is advisable to allocate a significant part of your investments to companies...Read More
A gold bull market is in progress! One analyst, who went through three previous gold bull markets, thinks the gold price can reach at least US$4,500. (Gold current sits at US$1,900, which means a double is in the cards.)Warren Buffett also thinks there’s room for gold to run. Otherwise, he wouldn’t have started a position in Barrick Gold (TSX:ABX)(NYSE:GOLD) in the second quarter. Sinc...Read More
Oct 26, 2020 Guest(s): David Morgan The Morgan Report Gold and silver have always held a close correlation with each other, with silver usually outperforming gold in bull markets, as it did this year. Assuming a $4,000 gold price target in two to three years' time, which is roughly a 100% increase from current levels, and assuming a normalization of the gold-silver ratio to 40-1, then silver sho...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
The three-month price of tin on the London Metal Exchange was the laggard at the close of trading on Monday October 26, losing just under 2% of its price against the highest daily volume count since September 23, while selling pressure saw the LME copper price sink below nearby support levels over the afternoon.Tin's outright price on the LME closed at $18,050 per tonne on Monday, recovering from...Read More
Aurubis, Europe's largest copper producer, sees its multi-metal strategy as a competitive advantage against a backdrop of precarious market conditions, with executive chairman to the board Roland Harings highlighting the company's acquisition and integration of Belgian-Spanish recycler Metallo as a step change in optimizing production. Despite pandemic-related setbacks, the German-based producer o...Read More
Jack ChanPosted Oct 26, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders. COT data is supportive for overall higher gold prices.COT data is supportive for overall higher silver prices.Our ratio is...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Seaborne prices for both low-and high-grade manganese ore in China moved down for the third consecutive week in the week to Friday October 23, following deteriorating overall market sentiment amid weakening portside ore and alloys markets. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $3.92 per dry metric tonne unit (dmtu) on Friday, down by 11 cents per dmtu, or 2.7%, from $4.03...Read More