Mining

Gold prices fell slightly on Monday as investors were cautious in advance of the U.S. Federal Reserve’s two-day meeting to discuss policy and Chairman Jerome Powell’s remarks. Investors are looking for clues about future monetary policies. By 01:50 pm, spot gold had fallen 0.2% to $4,189.49 an ounce. ET (1850 GMT). U.S. Gold Futures for February Delivery settled 0.6% lower, at $4,217.7 an ounce. Peter Grant, senior metals analyst at Zaner Metals and vice president of the company, said that "the market is waiting on the Fed's decision and more policy guidance." Grant stated that gold remains attractive, as fundamentals...

Gold rose on Monday, as investors became more confident that U.S. Federal Reserve would cut interest rates during its two-day meeting this week. A weaker dollar also helped. Gold spot rose 0.3%, to $4208.40 an ounce at 09:11 am ET. ET (14:11 GMT)). U.S. Gold Futures for February Delivery fell 0.1 per ounce to $4,238. Dollar index slid lower, boosting the appeal of greenback-priced Gold for overseas buyers. Both gold and silver have a very strong technical posture in the near term. This is a good thing for speculators, as it encourages them to be on the long side of...

REalloys, a U.S. startup that produces heavy rare-earth magnets, announced on Monday that it will partner with Saskatchewan Research Council (Canada's unit for technology innovation) to expand a processing plant for heavy rare earths, which is expected to begin operating in 2027. REalloys said it would invest around $21 million to expand the production of heavy rare Earths in exchange for a long term offtake agreement that covers 80% of its annual production. The announcement is made as the U.S. Government seeks to diversify the risk away from China, the top supplier of magnets, by developing an alternative supply line...

Gold prices increased on Monday due to growing expectations that the U.S. will cut interest rates, which pushed up the dollar ahead of this week's Federal Reserve policy meeting. By 1127 GMT, spot gold had risen 0.2% to $4206.36 an ounce. U.S. Gold Futures for February Delivery fell 0.2% to $4235.60 an ounce. Dollar-priced Gold is now more affordable to overseas buyers thanks to the dollar index, which has been trending lower since December 4. The gold price is rising due to a lower dollar, and the market expects that the Fed will cut rates this week. This was stated...

Gold edged higher on Monday as traders became more confident that the U.S. Federal Reserve would cut interest rates at its meeting this week. Spot gold increased 0.5% at $4,215.69 an ounce as of 0643 GMT. U.S. Gold Futures for December Delivery were unchanged at $4,244.80 an ounce. Gold priced in greenbacks is now cheaper for foreign buyers. Tim Waterer, KCM Trade's Chief Market Analyst, said that the Fed is on track to reduce rates this week. The expectation of looser monetary policy has driven gold prices higher. The anticipated rate cut is keeping the dollar under control, and simultaneously...

Gold edged higher on Monday as traders became more confident that the U.S. Federal Reserve would cut interest rates at its meeting this week. As of 0319 GMT, spot gold was up by 0.3% to $4,212.70 an ounce. U.S. Gold Futures for December Delivery were unchanged at $4,241.30 an ounce. Gold priced in greenbacks is now cheaper for foreign buyers. Tim Waterer, KCM Trade's Chief Market Analyst, said that the Fed is on track to reduce rates this week. The expectation of a looser monetary policy will drive gold prices higher. He added that "the anticipated rate reduction this week...

Anson Resources, based in Australia, announced on Monday that it had signed a nonbinding Memorandum of Understanding with Utah-based Nusano for the supply of lithium chloride to be used in advanced manufacturing and nuclear applications. Anson will provide samples of lithium chloride from its Green River Project in Utah to be tested for qualification. Talks are aimed at an agreement covering a five-year period and at least 300 tonnes equivalent lithium carbonate per year. Nusano is a privately-held company that plans to use Anson’s lithium chloride feedstock in order to produce lithium-6, lithium-7, and other isotopes for the nuclear sector...

Boeing's head of defense said that the plan by U.S. president Donald Trump to acquire government stakes in strategic sectors does not apply to major defence firms. This is in stark contrast to comments made previously by senior government officials. Steve Parker, CEO of Boeing Defense, Space & Security, spoke on a panel during the Reagan National Defense Forum, a yearly industry event held in Simi Valley, California. Parker said, "I don’t think it applies to the Primes", referring to large legacy defense contractors such as Boeing, Lockheed Martin and Northrop Grumman. U.S. commerce secretary Howard Lutnick announced in August...

Toronto's main stock index rose to a fresh peak on Friday, and was on track for weekly gains, after stronger-than-expected domestic jobs data fueled optimism about the economy. The S&P/TSX composite index increased by 0.2%, reaching a new high of 31533.40 points. The index was last seen at 31,531.84 point. Data showed that Canada's unemployment rate defied expectations in November and dropped to a 16 month low as part-time employment grew for the third consecutive time. Analysts polled predicted a loss of 5,000 positions. Angelo Kourkafas is an investment strategist with Edward Jones Investments. He said, "The jobs data confirms...

BHP, a global miner, announced on Friday it had taken delivery of two electrical haul trucks for a trial to begin at its Jimblebar Iron Ore Mine in Australia's Pilbara. The truck trials are intended to reduce diesel consumption and greenhouse gas emission. BHP stated that the battery-electric trial, in partnership with Rio Tinto, and Caterpillar industrial equipment manufacturer, aims to test whether the technology can be used as an alternative for diesel in large-scale mining operations of iron ore. BHP stated that after the trial, miners will independently determine the progress they have made towards scaling up trials in...

The price of copper reached a new record on Friday after Citi raised its outlook for the metal. Supply concerns and the expectation that the U.S. Federal Reserve will cut interest rates next week are driving the market. After hitting a record high of 92.910 yuan per ton during the day, the most active copper contract at the Shanghai Futures Exchange ended the trading session 2.19% higher, closing the daytime trades at 92.780 yuan. Shanghai copper recorded a weekly gain of 4.99%. The benchmark three-month Copper on the London Metal Exchange surged as well, rising 1.90% at $11,667.60 per ton...

Gold prices remained largely unchanged Thursday as rising U.S. Treasury rates offset the support provided by a weaker US dollar. Meanwhile, markets were waiting for Friday's U.S. Inflation data to get clues about Federal Reserve policy ahead of their December meeting. By 1833 GMT, spot gold had risen 0.1% to $4210.49 an ounce. U.S. Gold Futures for February closed 0.2% higher, at $4243.00 per ounce. Edward Meir, Marex analyst, said: "Higher yields keep a little cap on gold's upside. The general dollar index provides some support." The benchmark 10-year U.S. Treasury rates rose while the U.S. Dollar Index hit a...

Exports of China's steel products are surging this year, as the domestic demand – particularly in property development – is slumping. However, those of aluminum have fallen due to increased activity in the manufacturing and energy sector. China produces more steel and aluminum than the rest of the world combined. Beijing has set informal production ceilings for both sectors in order to curb overcapacity. Informally, steel production is limited to no more than 1.005 billion metric tonnes. Given that production for the first ten months of this year was 817.87 millions tons, 2025 production will likely dip below 1 billion...

A judge in Ecuador ordered Monday that former president Lenin Moreno stand trial for alleged bribery related to the construction of Ecuador's largest hydroelectric plant. The case was first brought in March 2023 by the prosecutor’s office. It involved Moreno and members of his family as well as local and Chinese business partners in connection with bribes paid for the construction Coca Codo Sinclair, which started operations in 2016. Since then, it has been plagued by technical problems. According to the prosecutor, Sinohydro (the Chinese builder of the hydroelectric plant) allegedly paid around $76million in bribes between 2009 and 2018....

Prices of copper reached record levels on Monday, as the lower dollar in anticipation of the Federal Reserve meeting this week led to a rush of purchases. Concerns about future shortages also fueled optimism. Benchmark copper at the London Metal Exchange rose 0.3% to $11,657 per metric ton by 1057 GMT, from a previous peak of $11,771 per ton. This represents a gain in excess of 30% for this year. The U.S. Central Bank is expected to reduce rates. The U.S. dollar will be affected, and when it falls the price of metals priced in dollars becomes cheaper for holders...

Iron ore futures fell on Monday due to a sagging Chinese demand and increased equipment maintenance. However, the lingering bets for stimulus limited losses. As of 0219 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange fell by 0.7% to $782 yuan (US$110.63) per metric ton. It hit 778 yuan earlier in the session. This was the lowest price since November 17. As of 2109 GMT, the benchmark January iron ore traded on the Singapore Exchange fell 0.57% to $100.8, after earlier touching $102.35, the lowest price since December 1. Analysts said that several steelmakers have...

The price of copper reached a new record on Friday, after Citi raised its outlook for the metal. A weaker dollar provided additional support in anticipation of a rate cut expected by the U.S. next week. At 1025 GMT, the benchmark three-month price of copper at the London Metal Exchange had risen 1.4% to $11,609.50 per ton. The metal, which is widely used in construction, manufacturing and power generation, rose earlier by as much as 2.2%, reaching a peak of $11,705. LME copper has gained over 30% since 2025 and is expected to finish the week with a gain of...

Boliden, the Swedish miner, said that the European Union had acted on rare earths ten years ago. Boliden was commenting on the European Commission plan to invest 3 billion euro ($3.5 billion) in 25 key mineral projects. China, the country that produces 90% of all rare earths in processed form, has recently increased export restrictions. Boliden CEO Mikael staffas said that Europe's inability to produce critical raw materials on its own is a vulnerability which must be addressed despite the long process of making major changes. He said the latest EU initiative was a sign the bloc of 27 countries...

The Asian equity capital market will be boosted by a strong pipeline of high profile IPOs from companies in China and India that are looking to take advantage of the diversification trend among investors. However, concerns over rising tech valuations may slow down momentum. LSEG data shows that Asian equity capital markets (ECMs) have been awash with $267 billion in deals this year. This is up 15% on 2024 and the first annual increase since 2021. Data shows that Hong Kong, which is the preferred listing destination of Chinese companies, has dominated regional ECM transactions with 75 billion dollars raised...

The turnout for Sunday's legislative elections in Hong Kong is expected to low, as political campaigns are subdued. This comes amid the aftermath of the city's worst fire in decades which has so far killed 159. On Friday, volunteers handed out flyers to residents and hung up banners at busy intersections and subway stations. However, they were mostly ignored by the locals. Following the fire last week, campaigning was suspended for a couple of days. C.K. said: "This accident can, of course influence the attendance at the elections... (Hong Kongers), don't have interest or the desire to elect people." Lau,...

The price of copper reached a new record on Friday after Citi raised its outlook for the metal. Supply concerns and the expectation that the U.S. Federal Reserve will cut interest rates next week are driving the market. As of 0330 GMT the most active copper contract at the Shanghai Futures Exchange had risen 1.18%, to 91.860 yuan (12,992.56) a metric ton, after reaching an all-time peak of 92,000 dollars a ton during the session. Shanghai copper will end the week at a 5.3% higher price. The benchmark copper for three months on the London Metal Exchange gained 0.95%, to...

Dalian iron-ore futures prices fell on Friday, and are on course for weekly losses as a result of rising seaborne shipments at year's end and tepid Chinese interest. As of 0320 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange was trading 1.01% lower. It was 785.5 Yuan ($111.11), per metric ton. The contract will end the week at a loss of 0.88%. The benchmark January Iron Ore at the Singapore Exchange fell 1.02% to $103.2 per ton. However, it is still on track to finish the week with a 1.43% increase. Iron ore shipments are...

The price of copper fell slightly on Thursday, as traders reported that the panic caused by tight supplies this week has begun to subside. As of 1030 GMT, the benchmark three-month copper price on London Metal Exchange had fallen 0.7% to $11,402.50 a metric tonne. It reached $11,529 in the early part of the session. This was just a few cents away from the high of $11,540 that it achieved on Wednesday. LME data showed that on Thursday, 7,775 new warrants were cancelled in South Korea (0#MCUSTXLOC>), following a previous day's cancellation of more than 50 725 tons in Asia....

Shanghai copper reached a record-high on Thursday. This was boosted by the sharp increase in London Metal Exchange cancellations, which signaled a tightening of supply outside of the United States. Also, bets increased that Federal Reserve rates would drop this month. As of 0240 GMT the most active copper contract at the Shanghai Futures Exchange had risen 2.45% to 91150 yuan (12,893.96) per kilogram, after reaching an all-time-high of 91400 yuan during the morning. The rally was triggered by the record-breaking high reached on Wednesday for LME three-month copper benchmark. London copper rose 0.08% to $11,497 per tonne on Thursday....