Mining

Gold miners' shares soared on Monday as bullion price surged to a record $5,100 per ounce. This was a continuation of a historic rally, driven by safe haven demand in the face of geopolitical uncertainty and market volatility. Gold's annual rise is expected to be 64% by 2025. This will be its highest rate of growth since 1979. The increase was mainly due to the easing of U.S. Monetary Policy, central bank purchases and investors flowing into ETFs in order as a hedge for global policy risks and macro-uncertainty. Gold is traditionally preferred by investors due to its low yields...

USA Rare Earth announced on Monday that Trump's administration will support a $1.6billion debt-and equity funding package for it to build a Texas magnet and mine facility to supply the defense and high tech sectors. Over the weekend, it was reported that the U.S. Department of Commerce had taken a 10% stake of USA Rare Earth in Oklahoma as part of an effort to?boost the production of critical materials and reduce reliance on the market leader China. USA Rare Earth shares grew 15% on Monday to $28.42. Rare earths are a grouping of 17 minor elements and magnets made of...

Mark Carney, Canadian prime minister, said that a review of the U.S. Mexico-Canada free trade deal, which is due to begin later this year, will be thorough. He described U.S. president Donald Trump as an aggressive negotiator. Carney said that some of Trump's recent criticisms should be seen in the context of USMCA negotiations. The three-nation agreement came into effect in July 2020. Trump, who has often mused about annexation of Canada, said last week that Canada " Because of the United States", and threatened on Saturday to impose 100% Tarif If Ottawa concludes a "trade agreement" with China, it...

Century Aluminum will take a 40% share in a U.S. aluminum smelter planned by Emirates Global Aluminium. This is the first primary aluminium plant built in the United States in nearly 50 years. EGA,?which retains 60% of the joint-venture, announced plans to construct the smelter at Inola in?Oklahoma in May 2025. The financial terms of the transaction were not disclosed by either company. EGA said last year that it was expecting to invest $4 billion in the development of the project. The smelter will now be able to produce 750,000 tons of aluminum annually, up from the previous 600,000 tons,...

Documents seen by former Barrick executives and Canadian mining company Barrick show that the joint venture partner Newmont will be key to Barrick's plans to spin off North American assets. This is a dramatic change in fortunes for two global mining companies. The influence of Denver-based Newmont over Barrick's strategies is a major change from just a few short years ago, when the Canadian miner hoped to purchase Newmont's minor stake in Nevada mines. Barrick had tried to buy Newmont a decade before. Documents show that Newmont would have the right to first refusal if Barrick tried to sell its...

USA Rare Earth shares jumped up to 62% on Monday in premarket trading after reports that the Trump administration would take a 10% stake as part of a $1.6billion debt-and equity investment package. Sources who were briefed about the plans over the weekend said that the deal and a separate $1 billion private investment would be announced on Monday. The company will also host a conference call in the morning with investors to discuss terms. According to LSEG data, a 10% stake would?make administration the largest shareholder in the company. USA Rare Earth is developing a mine with Texas Mineral...

Gold miners' shares jumped on Monday in premarket trade as bullion prices surged to record highs of $5,100 per ounce. This extended a historic rally driven by safe-haven demand amid market volatility and geopolitical uncertainty. Gold's annual rise of 64% is the highest since 1979. This was a result of U.S. monetary policy ease, central?bank purchases and investors flowing into ETFs to hedge against macro-uncertainty and global policy risks. Gold is a non-yielding asset that benefits from a low interest rate and an uncertain economic environment. Bullion prices have risen by more than 18% in the past year. Gold prices...

Gold reached a new record high of $5,000 per ounce on Monday as investors continued to pile into the safe haven asset amid increasing geopolitical tensions. Spot gold increased 0.75% at $5,019.85 an ounce as of 2304 GMT. U.S. gold futures for delivery in February gained 0.84%, to $5.020.60 per ounce. Gold's recent gains have been attributed to the escalating tension between the U.S., NATO and Greenland. This is due to expectations of increased financial and geopolitical uncertainties. Independent analyst Ross Norman stated, "Our forecast for the year is gold will reach a high price of $6,400 per ounce, with...

Financial Times, Saturday, reported that the United States plans to invest $1.6 billion in 'Oklahoma based miner USA Rare Earth, and receives a 10% stake. Reports said that the government's investment, as well as a separate private financing agreement of $1 billion, would be announced Monday. The White House, USA Rare Earth and the White House did not respond immediately to our request for comment. Report said that the government would receive 16.1 million shares and warrants worth $17.17 each in the company. Washington In December of last year, it planned more "historic deals" with the U.S. Mining Sector to...

Documents seen by former Barrick executives and Canadian mining company Barrick show that the joint venture partner Newmont will be key to Barrick's plans to spin off North American assets. This is a dramatic change in fortunes for both global mining companies. The Denver-based Newmont has a lot of influence over Barrick's strategies. This is a big change from just a few short years ago, when the Canadian company had hoped to purchase Newmont's?minority?stake?in the Nevada mines. Barrick had tried to buy Newmont a decade before. Documents show that Newmont would have the right to first refusal if Barrick tried...

On 'Friday, silver prices surpassed $100 per ounce for first time in history. Gold also hit another record on its way to $5,000/oz. Investors piled into safe-haven investments amid geopolitical uncertainty and expectations of U.S. rate cuts. Spot silver rose 4.5%, to $100.49 per ounce at 1649 GMT. Silver should benefit from the same factors that support gold investment demand, said Philip Newman. He is a director of Metals Focus. The London market is still experiencing low physical liquidity and ongoing tariff concerns. The metal's price has risen by more than 200% over the last year. This is also due...

Ed Markey, a Democratic Senator from Massachusetts, said that Congress should look into a deal made by ByteDance to establish a joint venture with a majority American ownership. This would allow the U.S. to secure its data. Markey said that the deal finalized on Friday left many questions unanswered. The White House has not provided any details on this agreement including whether TikTok algorithm is free from Chinese influence. Markey said that the lack of transparency "reeks". Congress has a duty to investigate the deal, demand transparency and ensure any arrangement protects national safety while keeping TikTok on line. Markey's...

According to two sources familiar with the situation, negotiations with Emirates Global Aluminium are slowing down, but that does not mean that the potential sale of Brazilian aluminium manufacturer Companhia Brazileira de 'Aluminio has stopped. One source said that the process is still competitive. One person and another source involved in the negotiations said that China's Aluminum Corporation?of China, and a potential third bidder were actively pursuing the deal. One?of the sources stated that an announcement could be made within days or even weeks. Negotiations could still fail, however. CBA's shares were up 5% in Brazil at mid-morning trading on...

The companies announced that Zijin Gold would buy Canada's Allied Gold at a price of?about C$5.5billion ($4.02billion) in cash. This is as the Chinese miner accelerated its global expansion amid record-high yellow metal prices. Gold prices have risen, boosting margins and cash flow for miners. This has led to consolidation as large producers look to boost production through acquisitions instead of developing new mines. Canada and China have also agreed to a deal to improve their relationship after reaching a preliminary agreement this month to reduce tariffs on canola and electric vehicles, while vowing to lower trade barriers and enhance...

Two people with knowledge of the situation say that negotiations?with 'Emirates Global Aluminium' have slowed down. One source said that the process is still competitive. One of the people involved in the negotiations said that China's Aluminum Corporation of China and a third bidder were actively pursuing this deal. One of the sources stated that an announcement could be made within days or even weeks. Negotiations?could, however, still fail. CBA and Grupo Votorantim (which controls CBA) declined to comment. EGA and Chinalco didn't immediately respond to requests for comments. CBA is a Brazilian aluminium producer in seven Brazilian states. Votorantim...

BHP Group shipped iron ore to Malaysia and Vietnam that was barred from sale in China. The company is seeking other buyers for its Jimblebar stocks, which are piling up at Chinese port amid a long-running contract dispute with Beijing. China Mineral Resources Group, set up in the year 2022 with the aim of centralising iron ore purchases and gaining better terms from miner, banned Chinese steel mills from purchasing BHP's Jimblebar Blend Fines, a medium-grade ore. This was done last September, during ongoing talks about a new contract. While talks continue, Lowlands Blue docked on Malaysia's shores on January...

The copper price rose on Friday due to a lower?dollar and growth in other metals. The benchmark "three-month" copper on the London Metal Exchange rose 1.2% at 1043 GMT to $12,901.50 per metric ton after finding support on its 21-day average at Thursday's market close. The metal reached a record-high of $13,407 in January. Investors are uneasy about the sudden policy changes in Greenland and geopolitical tensions. The dollar's weakness makes dollar-priced precious metals more appealing to buyers using other currencies. Capstone Copper, which is on the supply side of things, said that a strike by workers had "forced" a...

BHP Group has sent iron ore cargoes that are not allowed to be sold in China, to Malaysia and Vietnam. The company is looking for alternative buyers because its Jimblebar stocks have been piling up at Chinese ports due a long-running contract dispute with Beijing. China Mineral Resources Group, set up in the year 2022 with the aim of centralising iron ore purchases and gaining better terms from miner, has barred Chinese steelmills and traders from purchasing BHP's Jimblebar Blend Fines, a medium-grade ore. This was done last September, during ongoing talks about a new contract. Lowlands Blue, carrying 95,000...

Copper prices rose on Friday, after Capstone Copper announced that a workers’ strike forced a production?halt at the Mantoverde Mine in Chile. The most traded copper contract on the Shanghai Futures Exchange closed daytime trade up 0.64% at 101,340 yuan ($14.553.65) per metric ton but ended the week lower by 0.52%. As of 0700 GMT, the benchmark three-month Copper on the London Metal Exchange had gained 1.30% and was expected to finish the week with a gain of 0.93%. The strike was triggered after Capstone and the largest union of mine workers failed to reach an agreement on collective bargaining....

The price of physical aluminium in the United States is now 68% higher than that on the London Metal Exchange. It is obvious that this is a direct result of President Donald Trump increasing import tariffs in March from 10% to 25 % and then again in June to 50 %. The "all-in price" of aluminum is now above $5,000 per metric tonne, due to the additional $560 that the physical delivery premium in the Midwest U.S. adds to the implied tariff costs. Metals are in short supply across many industries, from construction to packaging and automotive. On paper, the...

Shanghai Copper finished off its lows on Tuesday as investors shrugged off the sluggish market and the Shanghai Futures Exchange (SHFE)'s move to increase margin requirements for certain contracts. After a drop of more than 1%, the most traded copper contract on the?SHFE?closed trading daytime up 0.04% to 101,280 Yuan ($14,544.41) per metric ton. As of 0740 GMT, the benchmark three-month price for copper at the London Metal Exchange increased by 1.10%. It now stands at $12,894.50 per ton. Red metal prices remained near record highs despite the sluggish demand for spot metals. The?SHFE also increased daily price limits and...

The Shanghai Futures Exchange increased margin requirements on certain copper contracts, which led to a drop in the price of copper in China. As of 0330 GMT, the most-traded metric ton?copper contract traded on SHFE fell 0.65%, down to 100,580 Yuan ($14440.15). However, the benchmark three-month?copper? on the London Metal Exchange gained 0.65%, to $12,836.50 per ton. SHFE announced on Tuesday it will increase the margin ratios for certain metals, including copper, silver, gold, and aluminum futures contracts, and expand daily price limits from January 22, 2019. This?move was widely seen as a way to stabilize the market, since copper...

A blast at a steel 'plate factory in Inner Mongolia, China's northern region, killed four people and left six others missing on Sunday. CCTV reported that rescue efforts are underway. Inner Mongolia's?Baotou Steel Union?, whose subsidiary owned the factory, said in an earlier stock exchange filing that 84 people were injured by the explosion. The?steelmaker stated that the explosion of a saturated steam and water tank?at Baotou City unit?damaged?parts of?factory equipment and buildings. It was also expected to have an impact on production at the plate-mill and adjacent facilities. The company stated that it was still assessing?the extent of losses....

The copper price rebounded Monday, thanks to a lower dollar and better-than-expected data from China, the world's largest metals consumer. After two consecutive sessions of declines, the benchmark three-month 'copper price on London Metal Exchange rose 0.6% to $12,885 per metric ton at 1030 GMT. LME copper fell to a low of one week on Friday due to profit-taking, and worries about weak Chinese demand. It had fallen from its record high of $13,407 on Wednesday. The price of coal has risen 31% in the last six months on fears that shortages may occur this year due to mine disruptions....