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Barrick Gold is the undisclosed bidder for Detour Gold

By: Bloomberg     Updated 3 hours ago Barrick Gold is the undisclosed gold miner that was asked to sign a confidentiality agreement alongside activist investor John Paulson to discuss potentially buying Detour Gold, according to people familiar with the matter. While Barrick’s level of interest in Detour is unclear, neither Paulson... 

Uranium tariffs threaten nuclear plants Trump is trying to save

By: Bloomberg     20th July 2018 The Trump administration’s decision to consider tariffs on uranium imports may raise the cost of fuel for nuclear reactors and undermine a separate initiative to shore up struggling electricity generators. The Commerce Department said Wednesday it will probe whether uranium imports “threaten to... 

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

Rio Tinto unveils large vivid pink Argyle diamond

By: Creamer Media Reporter      12th July 2018 Rio Tinto has unveiled the largest vivid pink diamond in the history of its Argyle pink diamonds tender, during a preview in Sydney. The 3.14 ct polished emerald cut diamond, known as The Argyle Alpha, is part of the line-up of 63 rare pink, red and violet diamonds in the 2018 Argyle pink... 

Hurting for buyers, US coal miners are learning to love India

By: Bloomberg     12th July 2018 The big bright spot for US coal miners is located halfway around the world. India almost tripled its imports of the rock from America in the first quarter from a year earlier, helping fuel its fast-growing economy and making it the largest foreign buyer of US coal, according to the US Energy... 

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Buzzkill for US coal may come from weak yuan, not tariffs

By: Bloomberg     11th July 2018 Washington’s trade war with Beijing doesn’t pose much of a direct threat to US coal miners, since just a tiny percent of their sales go to China. But Appalachia may feel some heat from the sinking value of the Chinese yuan. A weaker Chinese currency makes it more expensive for the Asian giant to... 

Battery-skeptic funds wait out cobalt rally seen as fleeting

By: Bloomberg     9th July 2018 Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold. While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries,... 

For State of American coal, look at West Virginia's mining stats

By: Bloomberg     6th July 2018 No place tells the story of America’s coal markets better than West Virginia right now. According to US government estimates released Thursday, mining in the northern half of the Mountain State – the part known for its bounty of thermal coal, used to fuel US power plants – slid 7% in the first... 

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

Mining investors spooked as African dispute payments multiply

By: Bloomberg     28th June 2018 Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. A $150-million payment by Glencore’s Katanga Mining to the Democratic Republic of Congo’s Gecamines earlier this month followed Freeport McMoRan’s separate... 

Top Dalradian shareholder supports Orion Mine takeover offer

By: Reuters     22nd June 2018 M&G Investment Management, the biggest shareholder in Dalradian Resources, said on Thursday it was supportive of a friendly cash takeover offer for Dalradian from private equity group Orion Mine Finance. The C$1.47 a share offer is fair, Jamie Horvat, director of global equities at M&G, told... 

China's taxing America's coal just as it was looking to buy more

By: Bloomberg     16th June 2018 Forgive US coal miners for feeling a bit of whiplash over China’s trade policies. Just two weeks ago, the Chinese government was said to be considering buying more American coal as part of an effort to narrow its trade deficit with the US. Now, in retaliation for President Donald Trump’s duties... 

Hedge funds pick the wrong time to go big on gold as prices drop

By: Bloomberg     16th June 2018 Hedge funds just mistimed their gold bets. Money managers as of Tuesday pushed their wagers on a bullion rally to the highest in seven weeks. The next day, Federal Reserve policy makers signaled more interest-rate increases this year than earlier projected. Gold ended up posting a weekly loss as... 

World's largest gold ETF is getting a cheaper little brother  

By: Bloomberg     14th June 2018 The price of gold is falling, at least for investors in exchange-traded funds. The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the US, including... 

Sibanye-Stillwater receives recognition for Stillwater acquisition

By: Marleny Arnoldi     8th June 2018 Precious metals miner Sibanye-Stillwater has received the ‘Global Resources and Commodities Mergers & Acquisitions Deal of the Year’ award under the large-capital segment at the tenth yearly M&A Atlas Awards gala function, for its $2.2-billion acquisition of Stillwater Mining in mid-2017.  

Iamgold reports 39% reserve, 16% output rise at Burkina Faso project

By: Marleny Arnoldi     6th June 2018 TSX- and New York-listed gold producer IAMGOLD has announced positive results from a prefeasibility study (PFS) for its Essakane heap leach project, in Burkina Faso.  

Murray Energy swaps debt on heels of Trump plan to boost coal

By: Bloomberg     5th June 2018 Murray Energy Corp, the coal miner led by Robert E Murray, said some of its debt holders agreed to refinance a chunk of the company’s bonds and loans as the Trump administration makes a new push to buoy the struggling fossil fuel industry. The deal cuts debt and gives Murray Energy more time to... 

On-The-Air (01/06/2018) 

By: Martin Creamer     1st June 2018 Former Energy Director-General Nelisiwe Magubane this week called for clean coal technology to be introduced to stave off litigation; Vigorous new investment in junior mining is scheduled to begin in the third quarter of this year and The positive role platinum can play to clean the world’s air... 

US Mint American Eagle gold coin sales rise sharply in May

By: Reuters     1st June 2018 Sales of American Eagle gold coins in May increased by 433% from April, and were the highest May sales since 2015, US data showed on Thursday. US Mint sales of American Eagle gold coins totaled 24 000 oz in May, up from 4 500 oz in April, the data showed. May figures were the highest since 2015,... 

D1 Mint buys 1 500 investment-grade diamonds for new diamond-backed crypto coin

By: Henry Lazenby     25th May 2018 The emergence of blockchain technology is helping to turn diamonds into a new investment asset class that, in turn, could drive future demand for natural diamonds, the creator of a new diamond-backed crypto coin said on Friday. Singapore-based D1 Mint, the creator of the diamond-backed D1 Coin,... 

Harmony poised to hit 1.5m oz target – CEO 

By: Martin Creamer     22nd May 2018 Gold mining company Harmony Gold is well on track to hit its target of 1.5-million ounces of gold a year. The two big steps needed to ensure this – the acquisition and recapitalisation of the Hidden Valley gold mine in Papua New Guinea (PNG), and the acquisition of the Moab Khotsong in South... 

Alrosa reopens office in world’s largest diamond jewellery market

By: Creamer Media Reporter      22nd May 2018 Russian diamond miner Alrosa has successfully held its first auction in two years in the US, following the recent reopening of its representative office in New York. The New York office was first opened in 2006, but has not operated since 2016. 

Paulson keeps stake in gold investments during Q1 – filing

By: Reuters     16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

A.B.E. Waterproofing For New Botswana Innovation Hub Building

15th May 2018 a.b.e. Construction Chemicals has supplied large volumes of polyurea coating for the waterproofing of an expansive roof of one of the new buildings of Botswana’s massive Innovation Hub campus in Gaborone. Noel Abendroth, a.b.e. High Performance Coatings Solutions Manager, says VIP QuickSeal PP... 

Gold bulls left waiting for boost from global angst as oil jumps

By: Bloomberg     10th May 2018 The gold market is greeting geopolitical turmoil with a yawn. The metal, which has dropped for three straight weeks, extended losses Wednesday as Treasury yields and crude oil jumped on the US plan to reinstate sanctions on Iran. The metal is trading at the cheapest relative to crude since late... 

Metals maker Arconic slashes forecasts, shares slide

By: Reuters     1st May 2018 Aluminium products maker Arconic Inc slashed its 2018 forecasts for profit and free cash flow on expectations that the price of the metal would remain high this year due to sanctions on Russian supplies and a 10% duty on aluminium imports. Shares of the company, which makes aluminium products... 

Deripaska offers to cut En+ stake in bid for sanctions relief

By: Bloomberg     30th April 2018 Oleg Deripaska offered to make concessions on his ownership of En+ Group Plc, which owns almost half of Russian aluminum giant United Co Rusal, as he seeks to cast off the yoke of US sanctions. The Russian billionaire agreed “in principle” to cut his stake in En+ to less than 50% and plans to... 

Stocks fall as US yields rise, commodities tumble

By: Reuters     23rd April 2018 A gauge of global equity markets declined on Monday as US bond yields moved closer to the 3% level that has unsettled investors in recent months, while a fall in commodity prices pressured materials stocks. US bond prices fell, with the ten-year yield hitting its highest in over four years at... 

Russia sanctions spook palladium investors as supply fears mount

By: Bloomberg     23rd April 2018 Hedge funds just made an abrupt about face in the palladium market as US sanctions against Russian titans spark concerns that the world’s largest producer of the metal will get caught in the cross hairs. After the US slapped penalties on United Co. Rusal, American officials have sent conflicting... 

Mining firms from China to Canada watch as Greenland holds election

By: Reuters     21st April 2018 With melting ice expanding access to the Arctic, investors from China to Canada are watching Greenland's election next week for signs of the political will to get a flagging mining programme on the island back on track. Greenland is hoping rising commodity prices can help attract foreign... 

On-The-Air (20/04/2018) 

By: Martin Creamer     20th April 2018 South Africa is expected to play an important role in a large new multi-billion-rand potash project in the Republic of Congo. Wonderful news for platinum is that mining equipment driven by a fuel cell is scheduled to make a game-changing debut underground next year. Mining giant Glencore has... 

Goldman Sachs says you must own commodities in these tense times

By: Bloomberg     13th April 2018 The case for owning commodities has rarely been stronger, according to Goldman Sachs Group. With raw materials rallying on escalating political tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight”... 

Aluminium set for best week in three decades as supply woes mount

By: Bloomberg     13th April 2018 Aluminium prices are heading for the best week in at least three decades as US sanctions on Russian producer United Co. Rusal send buyers scrambling to find supplies. Prices of the metal climbed to the highest since 2012 Thursday, helping push this week’s gain to almost 14%, the most in... 

South Africa's rand strengthens as global trade war fears ease

By: Reuters     10th April 2018 South Africa's currency firmed against the dollar early on Tuesday as investor jitters over an escalating US-China trade row cooled with eyes on domestic manufacturing data and the central bank's monetary policy review. At 06:30 GMT the rand was 0.52% firmer at 12.0350 per dollar compared to its... 

Strong rand eroding South African gold mines’ margins 

By: Natasha Odendaal     6th April 2018 While the strengthening of South Africa’s rand against the dollar in recent months has been widely welcomed by many, it has somewhat dampened the outlook for exporters and mining firms reliant on a weakened currency to widen margins. For South Africa’s gold mining industry, the resultant decline... 

BlackRock's $1.3bn gold fund feels pain of bullion miners

By: Bloomberg     4th April 2018 This year has not been kind to precious-metal stock pickers at the world’s biggest asset manager, but their luck may be about to turn. The $1.3-billion BlackRock Gold and General Fund lost 15% last quarter, its worst performance since the third quarter of 2015. Among large materials-focused... 

Global gold investment seen rising for 5th year in 2018 – CPM

By: Reuters     28th March 2018 Bullion investors, miners and makers of coins will help drive the fifth straight annual increase in total global gold investment in 2018, CPM Group said in its Gold Yearbook 2018 on Tuesday, citing geopolitical tensions and fears that the bubbling US economic expansion will end in a 2019... 

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