In charts: Gold rally defies traditional headwinds
Bank of America expects the gold price rally to persist despite a challenging macro backdrop. Gold continues trading above $1,800 per ounce despite the respective 10-year interest rates and Dollar…
Asia
Kumtor exceeds 2021 gold production guidance under nationalized management
The Kumtor Gold Company (KGC) says the nationalized Kumtor gold mine in Kyrgyzstan had exceeded production guidance for 2021. Under the new external management, which took over the asset when…
Electra signs recycling, cobalt supply deal with Marubeni
Electra Battery Materials (TSXV: ELBM; US-OTC: ELBMF) has signed a battery recycling and cobalt sulphate supply agreement with Japanese conglomerate Marubeni. The two have signed a memorandum of understanding that…
Key insights from the inaugural Future Minerals Forum in Riyadh
Saudi Arabia is one of the world’s oil powerhouses, boasting the second-largest proven reserve of the slick stuff. Still, as the inaugural Future Minerals Forum recently held in Riyadh heard,…
Kazakh uranium industry unaffected by unrest
The world’s largest uranium producer, Kazatomprom, remains unaffected by the ongoing turmoil in the Central Asian state of Kazakhstan, Reuters reported the Kazakh producer as saying. “Uranium mining is going…
Tin price outlook dims in 2022, report
Following on the heels of record-setting tin prices in 2021, the price outlook for 2022 is slightly softer as continued demand growth spurs increased investment to bolster metal supply, says…
Global nickel supply could increase by 20% in 2022 – report
Commodity researcher Global Palladium Fund forecasts a global nickel surplus of 59,000 tonnes in 2022. The analyst expects the surplus to be concentrated in low-grade nickel pig iron (NPI) and…
Rio Tinto picks outgoing Canadian ambassador to China as chairman
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has picked outgoing Canadian ambassador to China and veteran management consultant Dominic Barton to lead its board as the miner tries to…
Global coal use to hit record high despite climate fight
Global coal-fired power generation is expected to rise 9% and hit an all-time high by the end of 2021, despite efforts to slash carbon emissions, the International Energy Agency said…
Rio Tinto to write off US$2.3B Oyu Tolgoi loan to Mongolia
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) will cancel a US$2.3 billion debt owed by Mongolia as part of the government’s share of the development costs for the giant…
Renewables adoption speed still too slow to limit climate crisis — IEA
Growth in renewable energy is set to hit an all-time record this year, but is still falling “well short” of what is necessary to reach net zero emissions by 2050,…
Turquoise Hill okays Oyu Tolgoi US$75M bridging budget
Turquoise Hill Resources (TSX, NYSE: TRQ) has approved a bridging budget of US$75 million that allows the parties involved in the vast Oyu Tolgoi copper-gold mine in Mongolia to progress the…