Sprott’s new uranium trust sees hedge funds driving metal demand
The Sprott Physical Uranium Trust has itself been on a buying spree, bolstering its stockpile by 45% in four weeks.
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BlackRock fund manager cuts almost all gold from portfolio
Expectations that inflation-adjusted yields on US bonds will rise means the metal will no longer function as a hedge against equity markets, Russ Koesterich said.
Gold price drops to lowest in a month after US retail data surprise
Gold shed as much as 3% as an unexpected increase in US retail sales pushed up the dollar.
US miners decry mineral royalty plan floated in Congress
The proposed $3.5 trillion reconciliation spending measure would set an 8% gross royalty on existing mines and 4% on new ones.
Iron ore price dives 7% on China’s lower steel output data
Mining stocks also slid, with BHP down more than 6% from the previous week, Rio Tinto down 5.3%, and Vale down 7%.
Copper price falls as China vows to release more metal reserves
China has released 420,000 tonnes of the metals in three batches so far this year via public auctions at prices “slightly lower than market."
Platinum-group prices are being hammered by the chip shortage
The shortage of semiconductors is clobbering the price of platinum-group metals as investors brace for a long-lasting hit to car production.
Sibanye-Stillwater grabs 50% of Nevada lithium project for $490 million
The deal is one of the largest ever in the US lithium market and it t marks Sibanye’s third battery metal investment this year.
Rio Tinto hit with fresh tax bill in Australia
The country's tax authority is asking Rio to pay $277m related to a 2015 borrowing used to pay an intragroup dividend.