Ahead of Montreal summit, both sides agree they need to break free of China and Trump’s tariffs – but years of talks have yet to produce a real investment. “There’s a lot of money to be made here. They say critical minerals are the new oil,” said Ronald Ewasiuk, mayor of Bruderheim, while looking over a paper map showcasing the area …
Continue ReadingLME Week, an annual gathering of the metals industry, took place in Mayfair, London, over October 19-23. Prices of both battery metals edged down in recent months from peak levels reported in spring, with demand from the consumer electronics sector weighing on the cobalt market and demand from energy storage systems (ESS) pressing on lithium prices. Cobalt market awaits potential …
Continue ReadingSingapore-based Boroo has agreed to acquire Victoria Gold Corp. for up to C$140 million and plans to invest more than C$1.5 billion in the Eagle Gold Mine in Yukon, according to a Thursday (October 22) news release. The company will invest in environmental remediation, mine restart activities and future operations at the project. Victoria Gold, formerly listed on the Toronto …
Continue ReadingPlatinum and palladium posted the steepest declines in the precious metals complex over the week. Platinum fell 7.2% to $1,538/oz and palladium dropped 7.5% to $1,022/oz, recording the two largest declines in the group. Silver was not spared either, falling 7.1% to $53.67/oz. These three assets, which are more exposed to industrial and automotive demand, bore the brunt of the …
Continue ReadingRecord copper prices clash with weaker physical demand and squeezed smelter margins Discussions on copper during LME Week focused on the gap between record prices and physical demand, pressure on smelter margins and the time needed for new mine supply to reach the market. Downstream buyers had pulled back as prices rose, according to Tanja Winter, executive director and head …
Continue ReadingNewmont, the world’s largest gold miner, reported record third-quarter adjusted net income on Thursday. On Friday, its shares fell 4.6 percent, more than twice as much as the GDX. Over the whole week, the GDXJ, the ETF for junior mining stocks, fell 9.6 percent, while gold fell 4.1 percent. Gold itself slipped below $4,000 on Friday, and silver closed below …
Continue ReadingAustralia will refresh its critical minerals strategy to place greater emphasis on refining and processing, a senior Minister said on Tuesday, as competition for investment intensifies and supply-chain concerns persist. Resources Minister Madeleine King said the revised strategy would guide the next phase of the industry’s development, with a sharper focus on capturing “more economic and strategic value”. “It places …
Continue ReadingBrazilian President Luiz Inácio Lula da Silva’s election victory is set to reinforce government control over the country’s vast rare earth resources, raising the stakes for foreign miners and Washington’s efforts to reduce dependence on China. Lula defeated far-right Senator Flávio Bolsonaro in Sunday’s closely contested runoff, securing a fourth nonconsecutive term if electoral authorities confirm the result. His next …
Continue ReadingPlatinum exchange-traded funds (ETFs) are investments with exposure to the platinum market. These funds track the price of platinum through physical holdings or financial derivatives, offering an avenue for portfolio diversification. Although your ETF holdings are susceptible to price changes in the metal, you don’t have to take possession of them yourself. Keep reading to learn more about platinum ETFs, …
Continue ReadingBNEF Outlook Flags 44% Shortfall BloombergNEF published its annual Transition Metals Outlook on Tuesday, October 20, and copper emerges as the exception in an otherwise well-supplied picture. Nine of the ten transition materials the report covers should have enough supply through 2050. Copper does not: the research house projects a shortfall of 20 million tonnes by mid-century, equal to roughly …
Continue Reading