RAPAPORT... US retailers recorded their first year-on-year sales growth since the beginning of the year in June, as more businesses began to reopen following coronavirus-related lockdowns, according to government data.Revenue for the month grew 1.1% over the same period last year, and rose 8% over May's figure, data from the US Census Bureau showed."The retail sales numbers from last month were ve...Read More
(IDEX Online) - A New York businessman who allegedly promised investors huge returns from wholesale jewelry deals has been charged with running a $200m Ponzi scheme.Gregory Altieri, 53, lured them with returns of up to 70 per cent within five months on cash used to buy jewelry at closeout prices during the two-year scheme, according to district court papers for the for the Eastern District of New...Read More
(IDEX Online) - Lucara is to sell all its larger rough diamonds through the Antwerp-based HB Group in what it describes as a "groundbreaking partnership".The Canadian miner has a reputation for high-value type IIa diamonds at its Karowe Mine, in Botswana, and was proud to announce its discovery of the 1,758-carat Sewelo (pictured), the world's second largest diamond, last April.It has been st...Read More
(IDEX Online) - Alrosa and De Beers have both reported disastrous Q2 sales - down over 90 per cent - because of COVID-19.The two miners, who account for more than half of all diamonds produced globally, said they'd been by an unprecedented slump in demand.Alrosa's rough sales were down 91 per cent year on year to $74.1m and De Beers' fell 96 per cent to $56m.Both companies hav...Read More
Not many stocks have everything an investor needs all in one place. However, Lundin Mining (TSX:LUN) offers TSX investors some instant diversification, while also paying a small dividends. This names satisfies a long-term capital appreciation thesis, too. And all of this is rolled into a single defensive stock.Why is this stock defensive?Lundin is a solid all-rounder when it comes to metals exposu...Read More
RAPAPORT... Australian jeweler Michael Hill reported a sharp drop in revenue during the fourth quarter, as the coronavirus pandemic forced it to shut down most of its stores.Group sales slumped 61% to AUD 133.1 million ($93.1 million) during the three months that ended June 30, with drops across all markets, the company said last week. Same store sales - at branches open more than a year - fe...Read More
RAPAPORT... Australian jeweler Michael Hill reported a sharp drop in revenue during the fourth quarter, as the coronavirus pandemic forced it to shut down most of its stores.Group sales slumped 61% to AUD 133.1 million ($93.1 million) during the three months that ended June 30, with drops across all markets, the company said last week. Same store sales - at branches open more than a year - fe...Read More
[JOHANNESBURG] French oil giant Total on Friday said it had signed a US$14.9 billion financing agreement for a gas project in northern Mozambique. Read more at The Business Times.Read full newsRead More
There are several ways to get gold exposure, each with their own unique characteristics.Read full newsRead More
Barrick Gold Corp said on Thursday it expected a 15% decline in second-quarter gold production due to coronavirus-induced disruptions at an Argentinian mine and a dispute in Papua New Guinea.Read full newsRead More
An overview of the battery raw materials markets and their latest price moves.Read More
Peruvian mining production of both copper and zinc tumbled in May year on year from 2019, despite recovering from April figures, while the country was gradually reopening from restrictions to combat the Covid-19 pandemic, Fastmarkets understands.The country produced 128,407 tonnes in copper content during May, down by 41% from 218,000 tonnes a year before, mining and energy private association SNM...Read More
It has not been an easy year so far for Peru's zinc and lead mining companies after the coronavirus pandemic swept through South America, with operations facing lengthy shutdowns as well as multi-year low prices for their products.Mining companies are turning to traders to obtain big blocks of cash amid live concerns over future earnings and with banks at their most cautious in a decadeKnown...Read More
Adam HamiltonArchivesJun 17, 2020 Silver investment demand is exploding in recent months, skyrocketing higher in wildly-unprecedented fashion! That has catapulted silver sharply higher since mid-March's COVID-19-lockdown stock panic. Accelerating even in this usually-weak summer season, the massive capital inflows deluging into silver show no signs of abating. This is very bullish for silver, yet...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday July 17.China The domestic market remained stable in the week ended Friday July 17, with limited spot trading, after many suppliers had sold out their cargoes available for this month. A number of smelters restarted their...Read More
Peruvian mining production of both copper and zinc tumbled in May year on year from 2019, despite recovering from April figures, while the country was gradually reopening from restrictions to combat the Covid-19 pandemic, Fastmarkets understands.The country produced 128,407 tonnes in copper content during May, down by 41% from 218,000 tonnes a year before, mining and energy private association SNM...Read More
Exports of manganese ore from South Africa have almost quadrupled from April to July, according to preliminary trade data seen by Fastmarkets, and the majority will head to China, where inventories are already rising and prices have fallen sharply. South Africa will export almost 2 million tonnes of manganese ore in July from around 500,000 tonnes in April when South Africa was under strict lockdo...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Chinese domestic spot prices of both indium and germanium have yet to yield any gains after the provincial government of Yunnan announced further details on the commercial stockpiling of several non-ferrous metals, which in theory could lend some support to these metals, Fastmarkets understands. In the latest announcement, Yunnan's provincial government unveiled the exact volumes for the commercia...Read More