Chile's state-owned copper giant Codelco's announcement today of another round of layoffs is just the latest sign of an industry under stress. Copper has recovered from six-year lows struck late August on the back of supply cuts by major producers but at around $2.30 a pound or $5,000 per tonne on Tuesday there isn't much breathing room for producers.The latest estimates by the Lisbon-based Intern...Read More
Silver Wheaton (NYSE:SLW) announced on Tuesday a deal to acquire a portion of future silver output from Glencore's (LON:GLEN) Antamina copper mine in Peru for $900 million cash.As part of the streaming deal, Silver Wheaton will make ongoing payments of 20% of the spot price for silver for every ounce of metal delivered.Silver Wheaton will receive from Glencore an amount equal to 33.75% of the Anta...Read More
Codelco's chief executive Nelson Pizarro says the "painful, but necessary" move has not affected production.Codelco's chief executive Nelson Pizarro is following through with his promise of cutting costs "to the bone" as the Chile-owned miner announced it has cut almost 3,900 jobs, including contractors, in response to low prices and weak demand.Until now, the world's top copper producer had only...Read More
Construction at Eldorado's Skouries gold and copper mine.**UPDATED**Shares in Canada's Eldorado Gold (TSX:ELD) (NYSE:EGO) spiked Monday and were trading around 3.7% higher mid-day in Toronto yesterday, after Reuters reported that Greece's top administrative court had annulled a government decision that suspended the miner's operations in the country's north.The news were later denied by the co...Read More
What if you could tell before a press release comes out that a company is poised to be bought out, possibly at a nice premium? Sounds good, right? By watching historic patterns, that might just be possible. The Gold Report reached out to experts who have been around through enough cycles to know and asked for the clues they watch that an acquisition might be imminent. From location and early inves...Read More
India Banks Are Finally Looking Better, And So Is Their Economy … Moody's raised national banks credit outlooks to stable from negative. Nonperforming loans on the books of Indian banks are showing signs of improvement, and so is the nation's economy. Despite some much publicized disses of the Indian investment story, mainly from emerging market commodity guru Jim Rogers, India...Read More
Florida medical pot law misses deadline, nearly a year behind … Almost a year-and-a-half since Gov. Rick Scott and state lawmakers legalized a form of medical marijuana, the latest deadline for making it available to Floridians has gone up in smoke. Again. – MyPalmBeachPostDominant Social Theme: Say, it seems like there's a lot of pushback against any kind of cannabis legalization....Read More
India Banks Are Finally Looking Better, And So Is Their Economy … Moody's raised national banks credit outlooks to stable from negative. Nonperforming loans on the books of Indian banks are showing signs of improvement, and so is the nation's economy. Despite some much publicized disses of the Indian investment story, mainly from emerging market commodity guru Jim Rogers, India...Read More
Florida medical pot law misses deadline, nearly a year behind … Almost a year-and-a-half since Gov. Rick Scott and state lawmakers legalized a form of medical marijuana, the latest deadline for making it available to Floridians has gone up in smoke. Again. – MyPalmBeachPostDominant Social Theme: Say, it seems like there's a lot of pushback against any kind of cannabis legalization....Read More
The copper price is having a torrid 2015 as economic news out China continues to rattle investors and bears discount any positive developments from the world's number one consumer of the metal.The release of China's commodity-friendly five-year plan through 2020 released last week has done little to lift sentiment and even a stronger-than-expected reading of Chinese manufacturing activity released...Read More
Ben Graham value investing now exists in the mining space - the type of investing that Warren Buffet is famous for. But this is simply NOT supposed happen. Why? Because mining companies have reserves and resources in the ground, which are reflected in a company's share price... that is, in a normal market.Cecil Musgrave, publisher of Investorsguru.com, contends that today's market is so broken tha...Read More
The importance of going beyond environmental considerations when planning the lifecycle of mines to include socioeconomic considerations was among the topics raised at the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) at its annual general meeting, hosted by UNCTAD at the Palais des Nations, Geneva, on 27-29 October 2015.While mining continues to play a key...Read More
Thirty years of stock market crashes – and the signs they were coming. Is another stock market crash around the corner? … As the stock market struggles to recover from "Black Monday" in August, many investors are wondering how long it will be before the market regains the levels seen before the crash … Here we look at seven of the stock market setbacks of the past 30 ye...Read More
Whatever the Chilcot Inquiry finds will be as irrelevant as Tony Blair himself … though the families of fallen troops will disagree. There are things that we know we know, and what we know we know about Iraq we knew from the start. … We also know that whatever Chilcot concludes will lead Mr Tony neither to The Hague nor to salvation from his wretched half-life as an emblem of national...Read More
Thirty years of stock market crashes – and the signs they were coming. Is another stock market crash around the corner? … As the stock market struggles to recover from "Black Monday" in August, many investors are wondering how long it will be before the market regains the levels seen before the crash … Here we look at seven of the stock market setbacks of the past 30 ye...Read More
Whatever the Chilcot Inquiry finds will be as irrelevant as Tony Blair himself … though the families of fallen troops will disagree. There are things that we know we know, and what we know we know about Iraq we knew from the start. … We also know that whatever Chilcot concludes will lead Mr Tony neither to The Hague nor to salvation from his wretched half-life as an emblem of national...Read More
October 16, 2015 -- Randy Reifel, President and Director of Chesapeake Gold Corp. (TSXV: CKG | OTCQX: CHPGF) in an ...Read More
(Image courtesy of Peru's Government photo archives)Peru's former president Alan Garc?-a has kicked off his campaign for a third term with a promise to deliver economic growth of at least 6% a year mainly by attracting more mining investment.The 66-year-old long-time leader of the centre-left American Popular Revolutionary Party, said he planned to achieve such goals by reducing red tape to a min...Read More