Gold price hits 4-month low on vaccine hopes, strong US data

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Bullion extended last week’s loss after AstraZeneca said its vaccine prevented most people from developing the coronavirus, marking another promising development in the quest to end the pandemic. Meanwhile, US business activity powered ahead in November at the fastest pace since March 2015, IHS Markit figures showed. Gold prices have already posted two straight weekly declines, and holdings in… Read More

Trafigura inks cobalt deal with DRC artisanal miners

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As part of the offtake deal with EGC, Trafigura will fund the creation of up to six strictly controlled artisanal mining zones. The company will also install ore purchasing stations in an effort to control the trade and so prevent human rights abuses imputed to the DRC cobalt mining sector. Metal from the sites would also… Read More

Scientists produce diamonds in minutes at room temperature

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“Natural diamonds are usually formed over billions of years, about 150 kilometres deep in the Earth where there are high pressures and temperatures above 1,000 degrees Celsius,”  Jodie Bradby, professor at The Australian National University and one of the authors of the study, said in a media statement. “The twist in this story is how… Read More

Fresh blockade at Equinox Los Filos hinders mine restart

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According to Mexican news, members of the Carrizalillo community said Equinox had failed to comply with about 70% of the clauses set up in the document allowing the Vancouver-based company exploit Los Filos until 2025. Los Filos gold-silver mine has been suspended since Sept. 3 Equinox said last week the blockade had been lifted while “good-faith… Read More

Trafigura to finance artisanal cobalt in supply agreement with DRC’s EGC

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COMMODITIES trading house, Trafigura, has agreed a cobalt off-take agreement with Entreprise Générale du Cobalt (EGC), a Democratic Republic of Congo (DRC) state-owned company. Trafigura said in a statement today it would also finance the creation of artisanal mining zones and install ore purchasing stations in an effort to build in controls to prevent human rights abuses commonly… Read More

Ghanaian government expects increased gold production in 2020

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The minister’s support to the mining sector comes at a time when environmental groups have taken it to the courts to try to stop mining projects In his view, the resilience of the mining sector has also become evident as investments in exploration, technology and human resources remained steady through 2020. Talking at the Ghana… Read More

Copper price surges to two-year high on vaccine hopes

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Pfizer Inc. and BioNTech SE said they plan to file for emergency use, allowing for the vaccine which is 95% effective to be used in the U.S. in the next month.  Copper, considered an economic barometer, is heading for an eighth straight monthly gain, the longest run in almost a decade, as rebounding growth in China and… Read More

Barrick to explore properties near Hemlo mine

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The earn-in agreement gives Barrick the right and option to earn an 80% interest in the Hemlo East property by making an initial payment of C$3 million and spending at least C$5.2 million on exploration. Barrick also has to deliver an NI 43-101 technical report on Hemlo East within three years of of the initial payment.… Read More

Gold price rebounds with stimulus talks moving forward

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Mnuchin also said he and White House Chief of Staff Mark Meadows would be speaking on Friday with Republican congressional leaders on negotiations with Congress on more economic support. Spot gold rose 0.4% to $1,873.94 per ounce by 11:30 a.m. in New York. US gold futures were up 0.6% to $1,873.20 per ounce. The surge… Read More

A Guide to ESG Investing and How Much Money is at Stake

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ESG Investing Makes You “Feel Good”. As Forbes correctly pointed out, there is another motive at play than just chasing big profits… Investing in ESG companies and funds makes you look good. A recent poll found that nearly three-quarters (73%) of people think more positively of billionaires that stop investing in controversial industries. Let’s face… Read More

Zambia’s copper output increases amid default on foreign debt

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This comes as good news to Zambia, which skipped a $42.5 million interest payment on part of its international debt last week, becoming Africa’s first bond default during the coronavirus pandemic.  President Edgar Lungu’s government, which is battling for re-election next year, has blamed covid-19 for problems managing the country’s $12 billion of debt. While… Read More

Bull market for base metals likely to remain intact – Rosenberg

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One of the most widely anticipated sessions was the discussion Northern Miner group publisher Anthony Vaccaro had with David Rosenberg, president, and chief economist and strategist of Rosenberg Research & Associates, an economic consulting firm he set up in January 2020. Between 2002 and 2009, while chief North American economist at Merrill Lynch in New… Read More