NewsRoom Articles - Page 53 of 189

TuesdayAug 27, 2024 10:00 am

Gold Continues Record Rally as Dollar Weakens, Expectations of Rate Cuts Increase

This week saw the price of gold extend its run, remaining above $2,500, driven by increasing investor confidence that the Fed will likely reduce rates of interest next month, and a weaker dollar. Specifically, the price of spot gold hit $2,510.32 an ounce, representing a 0.3% increase. This comes after recording a new high of $2,531.60 per ounce. U.S. gold futures also rose 0.4% to hit $2550.60 per ounce. On the other hand, the dollar index dipped to a seven-month low, which made gold more attractive for holders of other currencies. At the same time, benchmark United States 10-year bond…

TuesdayAug 27, 2024 9:00 am

Torr Metals Inc. (TSX.V: TMET): Harnessing the Golden Future of Canada’s Mining Might

Torr Metals is establishing itself as a key player in Canada’s booming mining industry, a global leader in the production of over a dozen essential metals The company’s emphasis on early-stage district-scale copper and gold projects underscores a significant ground floor opportunity and growth potential within the sector Building on early successes by leveraging historical data to expand known mineralization trends, Torr Metals is strategically positioned for potential major new discoveries at Kolos, Filion, and Latham, all within close proximity to established provincial and mining infrastructure Canada has long been a global leader in the mining industry. Its vast, mineral-rich…

FridayAug 23, 2024 10:00 am

Osisko Mining’s Sale Raises Questions About Canada’s Mining Industry

Osisko Mining Inc. was recently sold for a whopping $2.15 billion. The company owns one of the biggest and highest-grade undeveloped deposits of gold globally. John Burzynski, the Osisko’s CEO, stated that he couldn’t complain about the outcome seeing as investors had made money. He did reveal, however, that his initial objective when he ventured into Canada about 20 years ago was to build a new mining giant in the country. To his dismay, the opposite happened, with major companies and their holdings being sold to foreign investors. To date, the Canadian mining industry is processing the outcome of a…

WednesdayAug 21, 2024 10:00 am

Indonesia’s Nickel Industry and the Influence Chinese Firms Have

Indonesia is an international hub for critical mineral production and reserves, with diverse resources including nickel, iron, bauxite, silver, tin, gold and copper. The country’s mining industry has extensive nickel reserves in the Maluku, Sulawesi and Kalimantan islands. Nickel mined in the country is suitable for the production of electric car and stainless-steel batteries. During last year’s ASEAN Summit, U.S. Vice President Kamala Harris and Indonesian President Joko Widodo discussed the potential of a critical minerals free-trade agreement. The free-trade agreement would permit America to receive more nickel for electric car batteries from Indonesia, while allowing the latter country to…

MondayAug 19, 2024 1:30 pm

UBS Analysts See Recent Copper Dip as Buying Opportunity

Analysts at UBS Global Research see the recent drop in the price of copper as an entry point for investors. Even with lower-than-expected demand for copper from Europe and China along with challenging macroeconomic conditions, the long-term fundamentals for the red metal remain strong. Between late this year into 2025, UBS expects the market to tighten, driven by limited growth in supply and a rebound in demand. The red metal’s market saw a correction this year, with prices decreasing by almost 20% from the highs recorded in Q2. This drop erased almost 90% of gains recorded to date and was…

MondayAug 19, 2024 9:45 am

Canada’s Resource Rich Future: Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Taking Canada Beyond Oil & Gold

Canada is recognized globally as an oil and gold powerhouse, but the country is also a world leader in other metals, a trend that looks to be gaining steam With strategic acquisitions, Fathom Nickel has assembled a dominant land position in Saskatchewan’s Trans-Hudson Corridor, positioning the company to become a leading nickel provider in the sustainable energy market Data continues to show mineralization open on strike and at depth, with evidence that the deposits may be interconnected as part of one massive system A surge in exports in June confounded pundits that called for Canada to experience a fourth straight…

FridayAug 16, 2024 10:30 am

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Is ‘One to Watch’

Operator of flagship Waterberg PGM Project located in South Africa, which is home to 70% of platinum and 35% of palladium global mine production in 2023 Over $89M invested to date in exploration and feasibility engineering since initial discovery in 2011 The Waterberg Project has proven and estimated reserves of 19.5 million ounces of PGMs and gold with a projected production life of 45 years Partnered with major integrated PGM producer Impala Platinum Holdings Ltd. and Japanese consortium HJ Platinum, which includes trading house Hanwa Co. and the government-backed Japan Organization for Metals and Energy Security A 2019 Definitive Feasibility…

FridayAug 16, 2024 10:00 am

US Data Lifts Market Optimism, Gold Price Rebounds

Following a recent surge, the price of gold has shifted, with new data supporting a broader market rally while alleviating concerns about a possible hard landing for the U.S. economy. Last week, bullion for immediate delivery recorded a 1.9% rise, a huge recovery from the almost 3% decrease it recorded during its losing streak. This rebound was observed after the U.S. Department of Labor released data reporting the largest reduction in unemployment benefit applications in almost 12 months. This development has increased optimism that the Central Bank may start easing monetary policy as early as September while steering clear of…

ThursdayAug 15, 2024 9:00 am

Renforth Resources Inc. (CSE: RFR) (OTCQB: RFHRF) Is ‘One to Watch’

Renforth Resources Inc. is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties in Canada The company holds gold and battery mineral resources in Quebec’s mining heartland Renforth Resources in July 2024 resumed exploration on its Parbec Gold Deposit, consisting of a surface soil sampling and prospecting campaign The company in July 2024 received a C$262,500 grant from the Province of Quebec to identify and study the metallurgical characteristics of the Victoria mineralization Renforth Resources (CSE: RFR) (OTCQB: RFHRF) is an active mineral exploration company engaged in the exploration and development of the company’s wholly…

WednesdayAug 14, 2024 10:00 am

Q2 Saw Tech, Industry Demanding More Gold, WGC Data Shows

Data released by the World Gold Council shows that in the second quarter, the demand for gold from tech and industry continued rebounding. Industrial and technology applications consumed more than 80 gold tons this past quarter, representing an 11% increase year-on-year. This rise pushed up the demand for gold for the first half of 2024 to 162 tons. In the tech industry, the field of electronics was the main driver of gold demand. This comes as the demand for chips used in applications such as computing and artificial intelligence (AI) continued to increase. During this quarter, the sector also recorded…

MiningNewsWire provides insights and opportunities in the mineral and mining sectors.

Contact us: (512) 354-7000