News: Market sentiment mixed. US retail and high-end jewelry sales strong and supporting the trade. China slow. Dealer caution stemming from inflation concerns, China Covid-19 lockdowns, and Russia-Ukraine war. Expectations that Russian sanctions will lead to shortages, especially in smaller goods. UK imposes 35% import duty on Russian diamonds. De Beers 1Q production +25% to 8.9M cts., sales vol...Read More
RAPAPORT... Fawaz Gruosi has departed his position as creative consultant to the jewelry brand that bears his name.The designer stood down in recent days after three years working with Creative Luxury Holding (CLH), the company said in a statement on Tuesday."CLH and Mr Gruosi had committed to a clear long-term commercial strategy for the business," CLH said. "However, recent decisions by Mr...Read More
RAPAPORT... Revenue at Lucapa Diamond Company slipped in the first quarter amid a lack of large-stone sales and the absence of income from a supply agreement with Safdico.Revenue from the miner's Mothae deposit in Lesotho plunged 49% year on year to $5.9 million, Lucapa said Thursday. This reflected an unfavorable comparison with the same period of 2021, when the company sold two D-color diamonds...Read More
(IDEX Online) - Plans to close Canada's Diavik mine in 2025 will have a significant impact on the local economy, owners Rio Tinto warned this week.The deposit (pictured), 300 km northeast of Yellowknife, is one of the largest employers in Northwestern Territories, providing 1,100 jobs, and contributing almost 10 per cent of its GDP.However, Rio Tinto says it will helps workers redeploy within...Read More
(IDEX Online) - Bulk sampling has confirmed a "significant population of fancy orange and yellow diamonds" at Canada's Naujaat mine.Australian owners Burgundy say they are encouraged by results of the project, which is 70 per cent complete.A total of 268 diamonds over 0.21 carats, weighing 117.98 caratswere recovered from 1,316 dry tonnes of kimberlite at the mine, in the remote, Arctic terri...Read More
Glencore has reduced its copper guidance for 2022 by 3% or 40,000 tonnes and cut its cobalt guidance by 6% or 3,000 tonnes because of setbacks at the Katanga mine, the Zug-headquartered commoditiesRead More
Ero Copper touts green focus and shareholder returnsSPONSOREDero copperIsoMetrix launches pioneering ESG applicationSPONSOREDisometrixBlackEarth Minerals boosts graphite asset in MadagascarSPONSOREDblackearth mineralsChampion Iron to fuel green steel revolutionSPONSOREDchampion iron Lundin posted attributable earnings of US$345.1 million or $0.47 per share for the first three months of this year,...Read More
West Africa an improved opportunitySPONSOREDMakuutu magnetises support for Ionic Rare EarthsSPONSOREDionic rare earthsFortuna backs West Africa for growthSPONSOREDfortuna silver minesLake Resources targeting 100ktpa lithium productionSPONSOREDlake resources"Despite the challenging quarter in our operations, we are on track to deliver on our commitments for 2022," the mining giant's CEO Eduardo Bar...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 63 points at 7:30 AM EDT. First quarter annualized real GDP in the U.S. is scheduled to be released at 8:30 AM EDT. Consensus is an increase of 1.0% versus a gain of 6.9% in the fourth quarter. Meta Platforms (i.e. Facebook) jumped $32.95 to $207.80 after reporting higher than consensus first quarter earnings. Teledoc...Read More
Copper is a metal essential to construction, manufacturing industrial machinery and to the green energy transition - and demand is increasing worldwide.The copper price broke an all-time record intraday high above US$11,000 per tonne this year on the back of historically low global inventories.Our sister company Mining Intelligence has compiled a list of the world's top 10 biggest copper mines bas...Read More
A motion for an official apology from the Ontario Legislative Assembly to former Ontario miners who were forced to inhale an aluminum and aluminum oxide powder linked to the development of Parkinson's disease was denied on Thursday, as the House asked for more time to "properly honour" the victims and their family members. In between 1943 to 1979, many Ontario miners were required to inhale the...Read More
Arizona Sonoran Copper (TSX: ASCU; US-OTC: ASCUF) has entered into a partnership with Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) focused on the latter's Nuton venture and a non-brokered private placement for total gross proceeds of up to $30.5 million. Nuton technologies offer a portfolio of proprietary copper leach related technologies and capability developed by Rio Tinto to deliver increased co...Read More
The U.S. Securities and Exchange Commission (SEC) has charged Vale S.A. (NYSE: VALE) with making "false and misleading claims" about the safety of its dams ahead of the January 2019 collapse of its Brumadinho dam in Brazil, which killed 270 people, in a complaint filed in the U.S. District Court in New York, the SEC said. According to the SEC's complaint, the mining giant "manipulated multiple...Read More
Just one month after announcing a deal to acquire the Gasp?(C) Copper project, near Murdochville, Que., Osisko Metals (TSX-V: OM; US-OTC: OMZNF) has announced an initial inferred resource estimate for the Mount Copper deposit at the project using data from historical drilling completed between the 1960's and 2019. The company has also started a 30,000-metre drill program at the project, located...Read More
Champion Iron (TSX: CIA; OTC: CIAFF) has provided operational results for its fiscal fourth quarter and full year ended Mar. 31. The company owns and operates the Bloom Lake mining complex, located on the south end of the Labrador Trough, approximately 13 km north of Fermont, Que., and 10 km north of the Mont Wright iron ore mining complex held by ArcelorMittal Mines Canada.The Bloom Lake Phase...Read More
Miner and commodities trader Glencore (LSE: GLEN) touted on Thursday prospects for its trading unit, saying it faces another strong year as Russia's invasion of Ukraine continues to drive up prices of most commodities the company mines and sells.Delivering results for the first three months of the year, the Swiss company said earnings from its marketing unit will "comfortably" top the highest end...Read More
The Daily Gold, Released on 4/28/22Gold is primary driven by the trend in real interest rates. The dollar trend is secondary. One can argue the last 6 months especially has been a bearish environment for Gold as the dollar has surged and real interest rates have trended higher aggressively. Yet Gold has held up remarkably well. It has held up far better than during 2013 and 2017-2018 despite this...Read More
Howe Street, Released on 4/28/22Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," as well as a popular daily financial blog: www.jugglingdynamite.com. Danielle worked as an attorney until 1997 when she was...Read More
Real Vision, Released on 4/28/22U.S. equity indexes were well in the green Thursday afternoon despite the fact that gross domestic product contracted at an annualized rate of 1.4% during the first quarter, according to the Bureau of Economic Analysis. Earnings reports continue to reflect consumer resilience in the face of historic inflation, even as the conflict in Eastern Europe metastasizes and...Read More
Trends Research, Released on 4/28/22Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, ri...Read More