A group of international non-governmental organizations on Tuesday demanded that Brazilian miner Vale SA be excluded from the United Nations' corporate responsibility pact, after a mining dam burst that killed an estimated 300 people.A letter signed by more than 15 NGOs said that Vale failed to take proper safety measures at a tailings dam at its Corrego do Feijao iron ore mine in Minas Gerais sta...Read More
Gold stocks have to do more to confirm they are in a new bull market.Sure, they've surged above key moving average resistance and breadth has improved.However, the gold stocks have not yet broken the pattern of lower highs and breadth, while improved, is not at bull market levels yet. Let's review where things currently stand.In recent weeks GDX and GDXJ surged above the critical 400-day moving av...Read More
Both the WGC and LBMA published outlooks for the global economy and gold market in 2019. Who is right?WGC's Outlook for gold in 2019Let's start from the World Gold Council (WGC) which published its 2019 outlook on January 10th. As befits the organization representing industry's interests, the WGC is bullish on gold prices. No surprises here. According to the institution, the following trends will...Read More
Livent Corp said on Tuesday it plans to export most of the lithium produced by its Chinese processing facilities in 2019 because of uncertainty over the country's electric vehicle subsidies as well as macroeconomic concerns.The action will increase Livent's sale taxes in China but give it greater access to growing markets for lithium in Japan, South Korea and elsewhere."We saw a real change in sen...Read More
South Africa's Sibanye-Stillwater said on Tuesday it was considering measures, including restructuring if alternative solutions could not be found to bring loss-making gold shafts back to profitability. Gold producers in Africa's most industrialised economy, which have some of the world's deepest mines, have seen profits squeezed by rising costs, labour unrest and declining grades.Sibanye said it...Read More
South Africa's Sibanye-Stillwater said on Tuesday it was considering measures, including restructuring if alternative solutions could not be found to bring loss-making gold shafts back to profitability. Gold producers in Africa's most industrialised economy, which have some of the world's deepest mines, have seen profits squeezed by rising costs, labour unrest and declining grades.Sibanye said it...Read More
Africa-focused Firestone Diamonds (LON:FDI) has unearthed an undamaged 70-carat white, makeable stone from its 75%-owned Liqhobong mine in Lesotho.The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million at a sale early this month.Shares in the company shot up on the news and were trading 8.9% h...Read More
Africa-focused Firestone Diamonds (LON:FDI) has unearthed an undamaged 70-carat white, makeable stone from its 75%-owned Liqhobong mine in Lesotho.The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million at a sale early this month.Shares in the company shot up on the news and were trading 8.9% h...Read More
Africa-focused Firestone Diamonds (LON:FDI) has unearthed an undamaged 70-carat white, makeable stone from its 75%-owned Liqhobong mine in Lesotho.The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million at a sale early this month.Shares in the company shot up on the news and were trading 8.9% h...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM) is selling its S?(C)gu?(C)la gold project and its portfolio of 11 exploration tenements in C??te d'Ivoire to Canada's Roxgold (TSX: ROXG) in a deal valued at $30 million.The Toronto-based miner will pay $20 million upfront, followed by a $10 million deferred payment due if and when S?(C)gu?(C)la reaches production.S?(C)gu?(C)la will b...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM) is selling its S?(C)gu?(C)la gold project and its portfolio of 11 exploration tenements in C??te d'Ivoire to Canada's Roxgold (TSX: ROXG) in a deal valued at $30 million.The Toronto-based miner will pay $20 million upfront, followed by a $10 million deferred payment due if and when S?(C)gu?(C)la reaches production.S?(C)gu?(C)la will b...Read More
The company lowered its first-quarter and full-year guidance Varonis Systems Inc (NASDAQ:VRNS) is already shaping up to be one of the worst stocks on the Nasdaq today -- down 17.5% at $52.79, at last check. The cybersecurity concern last night lowered its full-year and first-quarter guidance, and said it was shifting to a subscription-based model.Now, VRNS is pacing for its worst day since May 201...Read More
Bernstein upped its EA price target, tooElectronic Arts Inc. (NASDAQ:EA) stock is trading up 4.6% at $101.69, on news the company's battle royale game "Apex Legends" hit 25 million registered users following its release late last week. A price-target hike to $120 from $91 at Bernstein is only fueling the bullish flames, and EA options traders are rushing to get in on the action.Already today, 46,0...Read More
* Harmony Gold H1 profit slumps 94 pct* Firm in talks to build solar power plantSouth African miner Harmony Gold is in talks to build a 30 megawatt solar power plant in the Free State province to supply power to some of its operations to try to reduce power costs and dependence on struggling utility Eskom.Eskom, which produces over 90 percent of South Africa's electricity, is saddled with more tha...Read More
* Harmony Gold H1 profit slumps 94 pct* Firm in talks to build solar power plantSouth African miner Harmony Gold is in talks to build a 30 megawatt solar power plant in the Free State province to supply power to some of its operations to try to reduce power costs and dependence on struggling utility Eskom.Eskom, which produces over 90 percent of South Africa's electricity, is saddled with more tha...Read More
Key levels to watch for FXI as U.S.-China trade talks drag closer to the March deadlineGiven the steady stream of daily "will they-or-won't they" headlines with regard to U.S.-China trade deliberations, it may surprise you to learn that the iShares China Large-Cap ETF (NYSEARCA:FXI) has been unusually subdued on the charts lately. As of Friday, the exchange-traded fund's (ETF's) 30-day historical...Read More
Canada's former attorney general has resigned from Justin Trudeau's cabinet amid a report she was pressured by the prime minister's office to intervene in a legal case involving SNC-Lavalin Group Inc.Jody Wilson-Raybould announced her resignation on her website Tuesday, after days of saying she couldn't comment on work she did as the government's chief lawyer. She was moved from the justice minist...Read More
China is adding to its gold reserves again, boosting holdings for a second month and reinforcing an outlook from bulls including Goldman Sachs Group Inc. that central-bank buying will likely remain strong this year.The People's Bank of China raised holdings to 59.94 million ounces, or about 1,864 metric tons, by the end of January from 59.56 million ounces a month earlier, according to data on the...Read More
The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its Mining Act, which were said to be aimed at letting a new company extract the island's riches.The modifications would have jeopardized land rights currently held by Australia's Bougainville Copper Ltd. (BCL), which used to run Panguna, one of the world's biggest open-pit copper operations, shut down by...Read More
The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its Mining Act, which were said to be aimed at letting a new company extract the island's riches.The modifications would have jeopardized land rights currently held by Australia's Bougainville Copper Ltd. (BCL), which used to run Panguna, one of the world's biggest open-pit copper operations, shut down by...Read More