Oil Hits Six-Month High On Fears Over Iran Sanctions
In a move designed to kill off Iran’s oil revenues, the US has demanded that all buyers of Iranian oil stop purchases effective May 1 or face sanctions.
Read MoreIn a move designed to kill off Iran’s oil revenues, the US has demanded that all buyers of Iranian oil stop purchases effective May 1 or face sanctions.
Read MoreThe US move to end exemptions on oil deals with Iran Monday sent Comex gold futures up from the more than four-month low hit last week in trading before the Easter break.
Read MoreAs expected BHP has been forced (like Rio Tinto) to cut iron ore production after Cyclone Veronica closed its export facilities at Port Hedland in late March.
Read MoreDon’t believe the alarmist nonsense around the markets (including silly figures in Fairfax Media website reports during the day) about the impact of a court decision in Brazil which will see a key iron ore mine of Vale allowed to return to production.
Read MoreDespite weak production outcomes in the March quarter, Carrapateena is expected to provide OZ Minerals with a positive catalyst when production starts later in the year.
Read MoreAs risk eased in financial markets, gold and silver went backwards, but copper, iron ore and other metals picked up momentum.
Read MoreOil futures rose on Friday, recovering a portion of the sharp loss suffered a day earlier, after trouble in Libya raised fears of a cut to global supplies which were offset a major takeover (Chevron buying independent Anadarko for $US33 billion) and solid March trade data from China.
Read MoreImports of copper, iron ore and coal rose in March from a month from February, while oil imports were steady, according to data released on Friday by China’s General Administration of Customs.
Read MoreCDV has performed solidly since our coverage initiation back in June 2016, being driven by ongoing and highly successful exploration drilling programs at its flagship Namdini project in Ghana, which in turn has led to the establishment of a multi-million-ounce gold resource base.
Read MoreWestern Australia’s hard-rock lithium stocks have received a much-needed leg up from car giant Volkswagen as it sets about securing supplies for its almighty push into electric vehicles.
Read MoreThe world’s largest gold miner has been finally created after shareholders overnight Thursday in Newmont Mining greenlighted the $US10 billion takeover of Goldcorp.
Read MoreChina’s continuing restrictions on coal imports – especially thermal (steaming) coal have impacted the quarterly pricing of major NSW miner and exporter Whitehaven Coal, even though it doesn’t ship any coal to that country.
Read MoreAhead of the Herd’s Rick Mills finds that unless there is a major push for exploration, global resources will run out a lot sooner than feared.
Read MoreMore upward pressure on global iron ore prices with reports from Perth that Rio Tinto has suffered its second serious fire this year in an iron ore screening facility at one of its port facilities in the Pilbara.
Read MoreShares in gold producer, Resolute Mining jumped more than 7% yesterday, making it one of the day’s stronger performers after it revealed a surge in gold production in the March quarter.
Read MoreOil analysts believe OPEC has cut its output a bit more than expected, while US crude production seems to have stalled around 1.21 million to 12.2 million after the strong gains seen in 2018.
Read MoreGold and copper fell last week, but iron ore bumped higher. Iron ore prices remained steady on Friday because of a holiday in China.
Read MoreA glance through the latest expert views and predictions about commodities. Global PMIs; lithium; oil; coking coal; iron ore; and alumina.
Read MoreWhen Rio Tinto (ASX:RIO) finally broke cover in February on its Winu copper-gold discovery in WA’s Paterson province, it made clear that drilling had yet to close off the mineralisation beneath the region’s sand dunes.
Read MoreIron ore prices remain around their highest levels in two years or more as continuing shortfalls from Brazil and Australia stoke demand from Chinese and other Asian steel mills.
Read MoreAs Scott Morrison and Josh Frydenberg were banking the 22% plus surge in global iron ore prices so far this year in last night’s Federal budget, it seems the shortfall in exports will be much larger than thought last week because of the growing impact of Cyclone Veronica on the Pilbara at the end of March.
Read MoreFortescue Metal Group shares ended up 3% at $7.65 after announcing the $US2.6 billion ($A3.7 billion) second stage of its Iron Bridge project in the Pilbara has been approved.
Read MoreRio Tinto is facing the loss of up to 14 million tonnes of iron ore exports – worth around $US1.2 billion or $A1.7 billion in lost revenue – in 2019 from the combination of a fire at its Cape Lambert export port in January that was compounded by the impact of Cyclone Veronica late last month.
Read MoreCopper, zinc and nickel prices also ended the quarter in reasonable shape, while palladium continues to outperform other metals.
Read MoreOil prices notched up their best quarterly performance in almost a decade in the three months to March 31 with US crude topping $US60 a barrel for the first time in nearly five months on Friday.
Read MoreWorld iron ore prices are poised to make a run back over $US90 a tonne after more doubt was cast on the level of Vale’s 2019 production while Rio Tinto has declared force majeure on some exports.
Read MoreIn today’s report, we’ll discuss the latest signals from the Treasury market as they pertains to gold’s flight-to-safety demand. Even with a volatile U.S. dollar, the metal’s “fear factor” should fuel its continued recovery.
Read MoreThe WA gold sector has not exactly been shooting the lights out of late.
Read MoreTalk about a convoluted deal – to get its controversial Goldcorp takeover over the line, Newmont Mining is promising to use some of the future ’synergies’ from its separate deal with rival Barrick to encourage its own shareholders to greenlight the deal.
Read MoreVale has warned that another dam could collapse at any moment while local iron ore miners brace for Cyclone Veronica which made landfall around Port Hedland on Sunday.
Read MoreOil futures prices fell on Friday on concerns about global economic demand and a sharp fall in global interest rates, but US prices managed a small a gain for the week, the third in a row.
Read MoreGold settled higher Friday, overcoming strength in the US dollar as investors sought the safety of bonds as they reacted to fresh fears about global and US growth.
Read MoreSunstone Metals – (ASX: STM, Share Price: $0.043, Market Cap: $52m, coverage initiated @ $0.029 in Feb 2018 – current gain of 48%)
Read MoreThe swagger of the nickel companies at a battery metals conference in Perth during the week was palpable. Nickel’s price performance of late does not explain the swagger.
Read MoreTropical Cyclone Veronica, a Category 4 storm, is heading for the Western Australian iron ore export ports in the Pilbara, especially Port Headland, and the LNG export gas hub at Karratha.
Read MoreExpect even more pressure on global iron ore supplies and prices after Vale was forced to shut two more iron ore mines in southern Brazil.
Read MoreDespite claiming the most profitable six months in its history and a one-third lift in interim dividend, investors yesterday sold off shares in coal miner New Hope Corp.
Read MoreAnd another solid week for crude oil with both West Texas Intermediate (WTI) and Brent ending higher while gold also appeared to get a boost from renewed optimism over prospects for a US-China trade deal.
Read MoreThe value of low-grade but bulk-tonnage porphyry copper/gold deposits has come into sharp focus for the local market as a result of Newcrest’s (ASX:NCM) $1.14 billion acquisition of a 70% interest in the Red Chris mine in British Columbia.
Read MoreNewcrest Mining has signalled a commitment to its low-grade Telfer gold mine in the East Pilbara by striking a $90 million exploration farm-in agreement with Greatland Gold in the highly prospective Paterson province.
Read More