Gold prices fell more than 1% on Monday as the metal was caught in a global, wider market sell-off driven by mounting economic concerns. Spot gold fell as much as 3.2% to $2,365.55 per ounce, the biggest single-day drop since early June. By 12:55 p.m. ET, it had recovered half of the loss to $2,403.37 […]
Battery Metals
Endeavour maintains gold production target amid Senegal strike
Endeavour Mining Plc said a strike at the Sabodala-Massawa mine in Senegal isn’t expected to impact its gold output target this year, after the stoppage entered a second day. The company doesn’t “currently anticipate a material impact on the group’s ability to meet its production guidance,” it said in a statement late Friday, while saying […]
Glencore overshadowed in cobalt market as Chinese rival booms
China’s CMOC Group Ltd. has strengthened its status as the world’s cobalt king, churning out more than three times as much as better-known rival Glencore Plc after a stunning output surge that’s deepened the battery metal’s price rout. The Chinese mining giant leapfrogged Glencore only last year to become the top producer, but the pair’s […]
Gold price surpasses $2,500 for first time ever
Gold surpassed $2,500 per ounce for the first time in history on Friday in the wake of rising geopolitical tensions and new data indicating a weakening US economy. Gold contracts for December delivery reached an all-time high of $2,522.50 in the early trading hours, before shedding its gains to trade at $2,475.90 an ounce by […]
Global gold demand reaches Q2 record — report
The latest publication by the World Gold Council showed global demand for the precious metal increased 4% year-on-year to 1,258 tonnes in the second quarter, the highest ever of any Q2 on record. Total increased demand, says the Council, was supported by healthy over-the-counter (OTC) transactions, which were up a notable 53% year-on-year at 329 […]
Mining powerhouse Australia to tighten up rules on exploration
Australia — one of the world’s most important mining nations — is planning to tighten up rules that govern how companies announce their exploration results, with a revised code for listed companies including industry leaders BHP Group (ASX: BHP) and Rio Tinto (ASX: RIO). A draft of the new code published on Thursday would impose […]
Gold price gains 1% following rise in Middle East tensions
Gold prices gained the most in two weeks on Tuesday as traders sought safety in the precious metal after Israel struck Beirut’s suburbs in response to a weekend attack. Spot gold was 0.9% higher at $2,405.00 per ounce by 2:30 p.m. ET, its biggest intraday gain since July 16. US gold futures crossed the $2,450 […]
The future of deep sea mining hinges on a contentious election
The Pacific island nation of Kiribati is tiny, with just 120,000 residents scattered across 32 tropical atolls, but it’s playing an outsize role in an election that will determine whether companies can begin strip-mining the world’s oceans for critical metals. Leticia Carvalho, a Brazilian ocean scientist, says Kiribati’s ambassador tried to bribe her to drop […]
Oxygen-generating ‘battery rock’ discovery challenges understanding of life on Earth
Scientists have discovered oxygen-generating ‘battery rocks’ on the ocean floor that could challenge long-held beliefs about the origins of life on Earth — and make a strong case against deep-sea mining. A team led by Professor Andrew Sweetman of the Scottish Association for Marine Science (SAMS) made the discovery while on fieldwork in the Pacific […]
Tianqi appeals Chile ruling on SQM-Codelco lithium deal
Chinese lithium miner Tianqi has appealed a ruling by Chilean financial regulator CMF that shareholder approval is not needed to proceed with a major tie-up set to boost state control over the country’s lithium sector, it said on Saturday. Tianqi has repeatedly called for the planned partnership between state miner Codelco and SQM, the world’s […]
