Gold prices recovered on Thursday after the European Central Bank (ECB) raised interest rates higher than expected. The ECB increased its deposit rate by 10 basis points to -0.40 percent, a move that was widely expected by economists. The central bank also announced that it would begin to reduce its bond-buying program, known as quantitative…
South Africa’s antitrust agency said on Wednesday that it was scrutinizing a hostile takeover battle for one of the country’s leading platinum producers, with the regulator aware of the potential impact of a pending transaction on the nation’s broader economy. The Competition Commission of South Africa said that it was looking into a takeover offer…
Since the turn of the century, Canada has fallen from its standing as the world’s leading producer of minerals. Economic analyses estimate that for the globe’s top 10 countries, Canada’s rankings have dropped from the top or near-top producer in most minerals, to as low as the 8th or 9th in the rankings. A newly…
Aluminum production has come under threat as Australian Prime Minister Scott Morrison announced the nation’s ban on exports of alumina, an ingredient of aluminum. The ban, which came in response to Russia’s involvement in the poisoning of opposition figure Alexei Navalny, is likely to have far reaching implications—particularly on production of the light metal and…
The US debt ceiling is reaching a critical point, according to recent reports, and the Wall Street Journal sees a “copper glow up” in the near future. The debt ceiling, or rather the legal limit Congress has placed on the total debt the US can have at any given time, was set at $22 trillion…
Glencore and Metals Acquisition LLC have amended their original agreement to finalize the sale of the CSA copper mine in Cobar, New South Wales, Australia. In June 2019, Glencore announced its sale of a majority stake in the CSA copper mine, based in Cobar, New South Wales, Australia, to Metals Acquisition LLC—a company formed by…
Uranium mining stocks rose on Thursday after the United States government announced it was considering imposing sanctions on Russia’s state-controlled nuclear energy company, Rosatom, in response to the country’s alleged interference in the 2020 presidential election. The news sent uranium mining stocks higher as investors bet that the potential sanctions would limit Russia’s ability to…
The stock market is a complex and ever-changing environment, with sentiment often playing a major role in determining the success or failure of an investment. When it comes to investing in gold, sentiment can be an important factor, as investors often look to the precious metal as a safe haven in times of economic uncertainty….
Barrick Gold Corporation, one of the world’s largest gold producers, has announced that its giant South American gold project, Pascua-Lama, is set to become a reality. The project, located on the border of Chile and Argentina, is expected to produce an estimated 17.9 million ounces of gold over its estimated 25-year life. The project is…
China is the world’s largest consumer of copper, and its economic woes have had a dampening effect on the spirits of traders in Asia. The country’s copper demand has been on the decline for the last few months due to the ongoing trade war with the United States, and the resulting slowdown in the Chinese…