S&P Global lowers GDP, metals price forecasts
S&P Global Ratings has cut its global GDP growth forecast for 2020 to 0.4%. Earlier this month, it lowered its GDP growth forecast for China to 2.9% from its previous…
Russia and CIS
BofA forecasts 4.7M tonne aluminium surplus
Bank of America Securities estimates global demand for aluminium will fall by 7.2% year-on-year in 2020 while supply will likely increase by 2%. Prices for the metal already have plunged…
Russia slams Trump’s order to mine Moon, asteroids
Russia’s space agency Roscosmos has condemned U.S. President Donald Trump’s order that encourages citizens to mine the moon and other celestial bodies for commercial purposes. The government body likened the…
Cameco halts conversion facility in Ontario
Canada’s Cameco (TSX: CCO; NYSE: CCJ), the world’s largest publicly traded uranium miner, is placing its plant at the Port Hope conversion facility in Ontario in a temporary safe shutdown…
Editorial: Sinking in a sea of red
The economic fallout from COVID-19 is mounting sharply. Last week, unemployment claims in the United States hit a record 6.6 million, up from 3.3 million the previous week, and the…
Nordgold takes stake in Cardinal Resources
Privately held Nordgold has taken a 19.9% stake in Cardinal Resources (TSX: CDV; ASX: CDV), which is advancing its Namdini gold project in Ghana. The Russian gold miner, whose non-executive…
Alrosa steps up efforts to brighten up fluorescent diamond sales
Alrosa, the world’s top diamond miner by volume, is betting on a new strategy to boost its sales amid an industry-wide slowdown that has hit small companies the hardest. The…
Centerra receives permits to restart Kumtor
Centerra Gold (TSX: CG) has received approvals and permits to restart open-pit mining at its Kumtor operation in the Kyrgyz Republic. The Kyrgyz state agency has approved Centerra’s 2020 mine…
Norilsk Nickel weighs capital investment and dividend strategy
Norilsk Nickel (US-OTC: NILSY) plans to boost spending on new projects over the next decade to increase production and capitalize on the growing electric car trend, but investors may need…
Diamonds Symposium explores industry challenges and solutions
The second annual Diamonds in Canada Symposium, organized by The Northern Miner, took place in Toronto in June. This year’s featured speakers included Chris Jennings, chairman of North Arrow Minerals,…
Why 2020 could be a better year for diamonds
Following a strong first half of 2018, the balance of the year and most of 2019 was disappointing for the diamond industry. The most recent 18-month stretch has been described…
US Vanadium acquires Russian-owned production facility in Arkansas
U.S. Vanadium, a private company in which venture capital firm Elysee Development Corp. (TSXV: ELC) has a 15% stake, is acquiring a Russian-owned production plant in Hot Springs, Ark., that…