(Kitco News) – The gold market continues its unstoppable run to record highs as it touches an all-time high of $2,350 an ounce ahead of the weekend.
Gold’s latest rally comes after the U.S. economy created 303,000 jobs in March, significantly beating expectations. At the same time, unemployment dropped to 3.8%. Despite the robust job growth, wages were relatively muted, rising 0.3%, in line with expectations.
US treasury secretary delivers message to vice minister He Lifeng during meetings in Guangzhou
The US has warned of “significant consequences” if Chinese companies provide support for Moscow’s war against Ukraine in one of the sharpest messages it has yet delivered to Beijing.
Following discussions in Guangzhou on Friday and Saturday, the US Treasury said: “Secretary Yellen emphasised that companies, including those in the PRC, must not provide material support for Russia’s war against Ukraine . . . and the significant consequences if they do so.”
Ford Canada announced Thursday that it would postpone all electric vehicle production at its Oakville assembly plant by two years until 2027 due to softening demand.
Queen’s Park and Ottawa, which have jointly pledged billions in electric vehicle manufacturing subsidies, were jolted by Ford Canada’s move to delay domestic EV production. Ford Canada announced Thursday it would postpone all electric vehicle production at its Oakville assembly plant by two years until 2027 due to softening demand.
That move came in the wake of the provincial and federal governments ponying up $295 million each in 2020 to boost EV production there. Neither the Prime Minister’s Office nor the federal industry department officials were given any advance warning of the car company’s decision, with officials learning of it in the news.
https://www.nationalgeographic.com/
Thanks to a modern marketing campaign, the not-really-rare gem became the iconic stone for eternal love.
When Gladys Babson Hannaford visited Florida State University in 1960, her lectures weren’t exactly part of the curriculum—and Hannaford, also known as the “Diamond Lady,” wasn’t your ordinary teacher. A diamond “expert” who gave hundreds of “educational” talks on the gems annually, Hannaford was actually employed by an ad agency with a simple, if ambitious, mission: Make American women want diamonds.
Diamonds aren’t rare, and their prices were set by at the time by the ad agency’s glittering client, global diamond conglomerate De Beers. Nor were diamond engagement rings a historic tradition in the U.S. Yet Hannaford preached that diamonds were precious gems with important emotional and historical resonance. “The enduring quality of a diamond is associated with an enduring love,” she told students, encouraging her female listeners to demand diamond rings from their future fiancés.
https://www.theglobeandmail.com/
Confusion about whether Chinese investment is welcome in the Canadian critical minerals sector is fuelling investor uncertainty and jeopardizing this country’s position as a leading source of capital for the mining industry, executives and analysts say.
In late 2022, Ottawa said it would allow investment from China only under exceptional circumstances, but it didn’t specify what those circumstances would be. In the absence of clarity over what is and isn’t allowed, Chinese investors have continued to attempt deals with Canadian mining companies. Meanwhile, some transactions that Ottawa has permitted have baffled experts, as have some that were blocked.
https://www.theepochtimes.com/
China’s influence over the lives of Africa’s 1.5 billion people is now so broad it includes food production, resource mining, and military leadership schools.
JOHANNESBURG—China’s influence in and over the lives of Africa’s 1.5 billion people is now so broad that it extends into almost all aspects of African societies.
The communist regime’s footprint is stamped across the continent in almost all economic sectors, including agriculture, natural resources, and trade and logistics. Chinese companies are deeply invested in manufacturing, services, and real estate.
Australian magnate points finger at ‘irresponsible’ standards for processing in Indonesia
Australian mining billionaire Andrew Forrest has called on China to demand higher environmental standards from its global supply chain, particularly its companies conducting nickel processing in Indonesia, an industry he accused of “complete environmental irresponsibility”.
In an interview with the Financial Times, Forrest — the chair and largest shareholder of Fortescue Metals Group — said electric vehicle manufacturers should be wary of Indonesian nickel, which he said was being extracted at immense cost to the environment.
https://www.thejakartapost.com/
The government seems to care only about the revenue generated from the mineral sectors and ignores the environmental destruction and the plight of the people affected by the related industries.
A recent jaw-droppingly massive corruption case in the tin sector is yet another reminder that the government still lacks the capacity to manage the country’s vast natural resources.
The graft case occurred in the concession areas of state-owned miner PT Timah in Bangka Belitung, which holds the largest tin reserves in the country. The archipelagic province produces 90 percent of the country’s tin, which is mostly under the control of Timah.
BRASILIA, Brazil (AP) — Many Yanomami, the Amazon’s largest Indigenous tribe in relative isolation, have been contaminated with mercury coming from widespread illegal gold mining, according to a report released on Thursday by Brazil’s top public health institute.
The research was conducted in nine villages along the Mucajai River, a remote region where illegal mining is widespread. Mercury, a poison, is commonly used in illegal mining to process gold. The researchers collected hair samples from nearly 300 Yanomami of all ages. They were then examined by doctors, neurologists, psychologists and nurses.
Biigtigong Nishnaabeg and Netmizaaggamig Nishnaabeg First Nations issued a joint statement on April 2 condemning the provincial government for allowing mining claims to be registered in “core cultural areas” – areas located on lands which Biigtigong and Netmizaaggamig have asserted Aboriginal title.
As stated in the release from both communities, asserting Aboriginal title means that “BN and NN have given notice to the Crown that they did not cede their lands, or agree to share their lands, through the signing of a treaty.”
Ecuador sees mining as a ‘crucial driver’ of the economy, providing jobs and incomes, but locals disagree.
Las Pampas, Ecuador – The alarm rang at 7am, summoning everyone in the main square. Protesters boarded three trucks, normally used to transport livestock. The convoy carried them close to the nearby town of Palo Quemado, home to the mining project of La Plata in northwestern Ecuador, 130km (81 miles) from the capital Quito.
Since last July, this quiet community has turned into an epicentre of anti-mining protests. Under the sight of military men stationed on the crest of the hill, roughly 100 demonstrators approached the road into town. But a whole riot squad blocked their way.
https://www.theglobeandmail.com/
Something hopeful is stirring among the Omushkego communities in Northern Ontario. The communities, along with Fort Severn and Weenusk First Nations, have hatched a plan to save one of the last vast, untouched areas of the planet from an industry quickly advancing northward to mine critical minerals, blasting through ecologically sensitive areas to do so. They know all too well how hard it is to stop the hungry mouths of the South, with their insatiable need for the resources of the North.
It’s a reflection of the weird contradiction in which the world finds itself: In order to cool a warming planet, the argument goes, we have to mine the Earth for critical minerals to make electric vehicles that will reduce our reliance on fossil fuels, destroying the peatlands of the far North – giant storehouses for an estimated 35 billion tonnes of carbon – in the process.
An authoritative new study finds there are 183 regional and local conflicts underway in 2023, the highest number in three decades.
“It’ll all be over by Christmas” has become one of the most derided prophesies in history. It was made by wiseacres in London, Paris, Berlin, St. Petersburg and elsewhere in Europe as the First World War exploded in August 1914. These misguided optimists founded their projection on recent experience: Europe had suffered no long, big conflicts since the fall of Napoleon a century earlier.
Yet as everybody knows today, far from being over before Santa Claus called, the terrible struggle that began with Austria’s invasion of Serbia lasted four years and killed around 20 million people before the 1918 armistice.
https://www.miningnewsnorth.com/
N’tsi Tatay, more widely known as the Windy Craggy Project, is one of North America’s largest resources of cobalt with excellent copper, zinc, gold, and silver grades hosted in an Upper Triassic Besshi-style volcanogenic massive sulphide.
It is located in the northwestern corner of British Columbia within a regional scale volcano-sedimentary basin, termed Alta Basin, which is a mineralized belt that has the potential for future discoveries. Other known sulphide prospects occur within 15 kilometers (nine miles) of N’tsi Tatay.
(Kitco News) – Bank of America was one of the bullish banks on gold heading into 2024, and everything they have seen this year has only added to their conviction.
In a note published Tuesday, commodity analysts, led by Michael Widmer, reiterated their call for gold prices to push to $2,400 an ounce this year. In December, Widmer said that he was expecting a gold rally when the Federal Reserve actually started cutting interest rates. That stance has only changed slightly.
