More needs to be done to make the commodities industry welcoming to young women, who are less willing to put up with the sexist culture their older peers endured, female executives from trading houses, banks and mining companies said."It isn't the Wolf of Wall Street, but it is a tough environment," Wendy Moss, a veteran trader at Trafigura Group, said at the FT Global Commodities Summit in Lausan...Read More
There's nothing new-fangled about bauxite mining in Jamaica.The railcars that shuttle thousands of tons of ore from the hills to Discovery Bay on the island's picturesque north coast are the very same ones used by the once-giant American company Kaiser Aluminum, which started mining here in 1967. Under a layer of red dust, they still read "Kaiser Bauxite Co."Yet this 50-year-old facility is at the...Read More
A Kazakh mining company sued the U.K.'s anti-fraud authority for $93 million - the amount it has racked up in legal costs - as the agency moves closer to a decision on whether to charge one of its billionaire owners.Eurasian Natural Resources Corp. claims the SFO colluded with the company's own lawyer to manufacture grounds for a probe, forcing the company to pay millions on legal fees for interna...Read More
(Updated with chart) - Trump perma-critics should take a step back from their criticism of his nominee Stephen Moore. The latest attacks against Moore evolve around an opinion piece in the Wall Street Journal suggesting that the Fed focus on targeting stable commodity prices. If one believes that the Fed should be targeting consumer price inflation, a concept that is debatable on its own, focusin...Read More
The final demise of South Africa's gold industry came a step nearer on Wednesday with the announcement that Sibanye Gold Ltd. won't extend the life of Driefontein, once the biggest mine on the continent.Last year the mine, more than 2 miles (3,200 meters) deep, produced about 300,000 ounces of gold, just a fifth of its peak output two decades ago. Now Sibanye will wind down Driefontein's operation...Read More
In the wake of the prolonged 1980-82 UK recession, pop band Dire Straits released a tongue and cheek swing record Twisting by the Pool romanticizing the good life on Europe's Mediterranean coast. The song popped into my mind after reading the Federal Reserve's monetary policy statement today. For some reason, the US Federal Reserve has deemed it fit to try and flatten the yield curve by selling s...Read More
US gold giant Newmont Mining (NYSE:NEM) has put together an executive leadership team that will come into effect once its acquisition of Canada's Goldcorp (TSX:G) (NYSE:GG) is completed, which is expected to happen in the second quarter.Newmont says the team will include some of the industry's top talent and most experienced mining executives known for superior operational execution, consistent pr...Read More
One of the pot stocks that’s rarely discussed is Marijuana Company of America (OTCMKTS:MCOA). With its $40 million market cap, it’s no wonder most forget about MCOA stock, but it’s good to look at all our options in a market with this much potential.Source: Shutterstock The cannabis group has gotten a ton of exposure over the past six months, as investors grow more and more optim...Read More
Mitsubishi Corporation announced on May 30, 2018 that it had reached an agreement for the sale of its 50% ownership interest in BMA's Gregory Crinum (GC) coking coal mine in Australia, which is currently under care and maintenance, held by wholly owned subsidiary Mitsubishi Development Pty. Ltd., to Sojitz Corporation. The sale was successfully completed on March 27, 2019.BHP, the holder of the re...Read More
South Africa's Sibanye-Stillwater will explore changing its primary listing in a bid to access more capital as it explores growth opportunities outside its home market, chief executive Neal Froneman said on Wednesday.The precious metals producer, which has both gold and platinum mines in South Africa and platinum group metals (PGM) operations in the United States, said it was looking into opportun...Read More
Jiangxi Copper Co., one of China's top producers, said on Wednesday 2018 net profit rose 52.4 percent year on year as a hedging gain boosted its bottom line in a poor year for the metal used in manufacturing and construction.The Nanchang-based company, which in January flagged an expected increase in annual profit of around 50 percent, posted net income of 2.45 billion yuan for last year, up from...Read More
The International Council on Mining and Metals (ICMM), a London-based industry group representing 27 major companies, said Wednesday it was working with the United Nations Environment Programme (UNEP) and ethical investors to devise global standards for tailings dams.The initiative is in response to the recent tragedy at Vale's Corrego do Feij??o mine in Brazil, where a tailings collapsed in Janua...Read More
The western Canadian Province of British Columbia approved a 5-year extension of Seabridge Gold's (TSX: SEA) (NYSE: SA) Environmental Assessment certificate for the KSM project, which has been described as one of the largest undeveloped gold projects in the world, measured by reserves.Located in north-western British Columbia, KSM has proven and probable reserves of 38.2 million ounces of gold a...Read More
Margaux Resources (TSXV: MRL) executed a definitive agreement this week with Wildsky Resources (TSXV: WSK) that refers to an option to acquire a 100% interest in the Cassiar gold project in northern British Columbia.The property, including all existing infrastructure such as a 270 tonne per day flotation and gravity mill and a tailings storage facility, is held by Cassiar Gold, a wholly-owned subs...Read More
Economist Mike Schussler said it's not only employees who stand to lose their jobs, but other industry players will also be affected.Read full newsRead More
Mid-tier Canadian miner B2Gold (TSX:BTO)(NYSE: BTG) will invest $50 million into expanding its 80%-owned Fekola mine in southwestern Mali, which could take the operation's processing throughput to 7.5-million tonnes a year, up from the current 6-million tonne throughput.The decision comes as the results of a preliminary expansion assessment (PEA), published on Wednesday, recommended an expansio...Read More
This program will be the start of exploring the large structural zone running northward from the other company's project.Read full newsRead More
Already-strong palladium prices soared to new heights in March, with spot palladium prices topping US$1,600 for the first time on March 20, and hitting an all-time record high of US$1,604 per oz. the next day before pulling back hard to US$1,532 per oz. at press time on March 26.The peak above US$1,600 capped a remarkable seven-month run for palladium, which bottomed briefly at US$842 per oz. in A...Read More
Since last spring we've written over and over again about a Fed rate cut being the catalyst for a bull move in gold stocks.The history is almost bulletproof. Many lows in gold stocks over the past 60 years coincided with the end of rate hikes.At present the Federal Reserve is in pause mode and the market is on the cusp of pricing in a rate cut. Friday, Fed funds futures showed a 56% chance of a ra...Read More
Weak inflation, a drop in retail sales, and an inverted yield curve have market watchers worried about the Canadian economy and the Canadian dollar.That got me thinking about stocks that would benefit should the Canadian dollar weakens.Here are some sectors and stocks that stand to benefit:Metals and miningMany mining companies that have assets in Canada will benefit from a falling Canadian dollar...Read More