Tanzania's mining minister said on Monday Acacia Mining had been fined 5.6 billion Tanzanian shillings ($2.4 million) for alleged pollution at its North Mara mine.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.It was forced to cut output by a third after the government banned the export of mineral concentrates from its two other mines, Bulyanhulu a...Read More
Most Wall Street analysts are bullish on GOOS sharesLuxury retailer Canada Goose Holdings Inc (NYSE:GOOS) received new coverage on Wall Street this morning, with HSBC setting a "buy" rating and $62 price target. The analyst note discussed the possibility for strong growth over the next three years, given the company's store count and potential expansion outside North America. However, the firm did...Read More
Here's a sign of how all-dominating the trade war has become in metals markets: Copper is slumping toward a three-month low even after Zambia moved closer to nationalizing some of its mines.The lack of a reaction is even more surprising when compared with other market moves. Zambia's Eurobond yields surged to a record high and the currency hit a 3 1/2-year low.Zambian President Edgar Lungu is esca...Read More
Here's a sign of how all-dominating the trade war has become in metals markets: Copper is slumping toward a three-month low even after Zambia moved closer to nationalizing some of its mines.The lack of a reaction is even more surprising when compared with other market moves. Zambia's Eurobond yields surged to a record high and the currency hit a 3 1/2-year low.Zambian President Edgar Lungu is esca...Read More
Nasdaq futures are pointing to a rough day for tech stocks Futures on the Dow Jones Industrial Average (DJI) are pointed toward a negative open, as Alphabet (GOOGL) and other tech giants have begun taking steps to cut ties with China's Huawei Technologies, only days after President Donald Trump banned U.S. companies from supplying components to the telecommunications name. Several chipmakers with...Read More
After the recent bout of volatility, a risk-off environment seems to be taking shapeMarkets continued to be headline-driven and pressured by the ongoing "trade war" with China this past week. The S&P 500 Index (SPX - 2,859.53) opened sharply lower to begin the week and traded down to the round 2,800 support level -- briefly eclipsing a garden-variety 5% pullback from the all-time high we put in on...Read More
The failure of the XAU index to rise is a potential warning sign for gold.Mining stock traders apparently aren't convinced gold is ready to rally.Silver continues to lag gold, as both metals face serious obstacles.Despite a recent attempt at bottoming, gold's revival attempt has been hindered by a serious lack of confirmation from its peers. Specifically, gold's "sister" metal silver has shown...Read More
By day, Peruvian police and soldiers search for and destroy equipment used by illegal gold miners in a part of the Amazon rainforest where mining has transformed once-dense foliage into a desert pocked with dead trees and toxic pools. As night falls, they play cards and soccer, call family from their remote outpost or have a medic pluck burrowing parasites from their feet.Read full newsRead More
* GRAPHIC-2019 asset returns:* Premium for cash over 3-month zinc highest since 1997 (Updates with closing prices)By Pratima DesaiLONDON, May 20 (Reuters) - Zinc prices hit four-month lowson Monday as investors frettedabout rising supplies from topproducer China, while industrial metals overall came underpressure from trade tensions between the United States andChina.Benchmark zinc on the London M...Read More
McEwen Mining Inc. (MUX) (MUX.TO) provides an update on the fatal accident involving a contractor's employee that occurred on Monday, May 13, 2019 at the Gold Bar Mine in Nevada.The formal investigation by local authorities is not complete, but preliminary analysis by McEwen Mining suggests thatRead full newsRead More
Silver ended the week closing at its lows, now down to $14.40/oz.The trend is also down for silver stocks since peaking in Q1.Caution is warranted at this time since risks are heightened for individual company failure (particularly producers) in a low price environment where profit margins have been greatly eroded.Hecla Mining and Coeur Mining are just two examples of companies currently going thr...Read More
Vancouver, BC - Quadron Cannatech Corporation (CSE:QCC) (the "Company" or "Quadron") is pleased to announce that it will begin to take reservations to toll process hemp or cannabis with the "BIG BEAST", a fully automated, touch screen control continuous flow Ethanol Extractor System. The "BIG BEAST is the latest addition to the BEAST family of extractors, with estimated processing capacity of up...Read More
There are many different methods for investing in gold, as we have outlined previously.Gold streaming and royalty companies are a unique investment. They offer a distinct set of advantages and disadvantages in their exposure to gold.Mining streaming and royalty companies offer a number of benefits to investors that differ significantly from more traditional mining co's.Before we get into the speci...Read More
There are many different methods for investing in gold, as we have outlined previously.Gold streaming and royalty companies are a unique investment. They offer a distinct set of advantages and disadvantages in their exposure to gold.First, it should be noted that there is a difference between streaming and royalty stocks, but their underlying exposure to gold is similar.Before we get into the spec...Read More
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange triggered the cancellation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same location...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.The United States will give a 180-day window to its auto trading partners to reduce imports of automobiles and certain automobile parts, essentially delaying potential Section 232 tariffs on these products, the White House said on Friday May 17. On the same day, US President Donald Trump an...Read More
The global billet market saw an improvement in sentiment in the Commonwealth of Independent States and the Middle East-North Africa region after the United States reduced its steel import duties against Turkey.The US lowered its tariffs on steel imports from Turkey to 25% from 50%, effective Friday May 17.This immediately sent import scrap prices up in Turkey as Turkish steel producers resumed the...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.The United States will give a 180-day window to its auto trading partners to reduce imports of automobiles and certain automobile parts, essentially delaying potential Section 232 tariffs on these products, the White House said on Friday May 17. On the same day, US President Donald Trump an...Read More
The United States has lowered its tariffs on steel imports from Turkey to 25%, from the previous 50%, effective Friday May 17.The move reverses a decision by US President Donald Trump in August last year to impose higher tariffs on US imports of Turkish aluminium and steel amid an escalation in tensions between the two countries.Turkey exported 6 tonnes of hot-rolled coil under HS code 7208 to the...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More