Copper prices have again broken through an eight-year high
Comex copper futures for March delivery rose 0.3 per cent to $3.652 a pound, surpassing the nearly eight-year high set in December, amid a sharp retreat in the dollar index and expectations of rising demand.
Goldman Sachs sees the dawn of a supercycle for commodities
Goldman's supercycle view is based on how the world will recover from a pandemic crisis, with an emphasis on a green industrial revolution and policies focused on social needs.
Goldman Sachs argues that the global shift to a green economy has the potential to create a capital spending cycle comparable to the one driven by emerging markets in the early 2000s.
This would not only have a direct impact on demand for metals such as copper, but would also have a multiplier effect on Labour markets and commodity producers.
Africa's copper production will reach 2.9 million tonnes in 2024
According to S&P Global Markets Financial Intelligence, Africa's copper production growth rate is expected to rebound in 2022 with the restart of Mutanda and the commencement of several projects.
Copper production from the region is expected to reach 2.9 million tons by 2024, a compound annual growth rate of 4.5 percent.
Barclays expects gold prices to fall
Barclays: Expect gold to fall by year-end as real interest rates rebound.
Gold will be around $1,750 an ounce and copper around $3.4-3.50 a pound.
ALX Resources acquires Electra Nickel Project in Ontario
ALX Resources (NYSE: ALX) today announced that it has entered into a definitive agreement with the option to purchase 100% of its interest in the Electra Nickel Project at the Thunder Bay South mine in Ontario.
The deal involves 148 units with a total area of more than 3,000 hectares, ALX said in a press release.
The total payment was $135,000 in cash, 1.1 million ALX common shares and $500,000 in exploration expenses.
India's gold imports hit 11-year low
Gold demand in India came under pressure last year, hit by the double whammy of soaring prices and the economic impact of the epidemic.
India's gold imports in 2020 fell to their lowest level in more than a decade at just 275.5 tonnes, the lowest since 2009, the data showed.
The oil and gas equivalent of Daqing Oilfield will exceed 43 million tons by 2020
In 2020, PetroChina Daqing Oilfield achieved domestic crude oil production of 3.010319 million tons, overseas equity production of 9.31 million tons, natural gas production of 4.65537 billion cubic meters, achieving "ten consecutive increases", a total of 43.0299,777 million tons of oil and gas equivalent, and continued to maintain steady oil and gas production of over 40 million tons.
At the same time, oil and gas full costs and operating costs achieved a hard year-on-year decline.
Tianqi Lithium shareholders to reduce their 4 percent stake
Tianqi Lithium issued a pre-disclosure announcement on January 7, saying that shareholders Chengdu Tianqi Industry (Group) Co., Ltd., Zhang Jing and Li Silong plan to reduce their holding of no more than 59.08840 million shares of the company during the period of January 29, 2021, solstice and July 28, 2021, and the reduction proportion is no more than 4.00% of the total share capital of the company.
According to its announcement, the reduction is mainly to provide financial support and other funding needs to Tianqi Lithium.
Global natural graphite production is set to grow by 7.6% in 2021
According to GlobalData, while global natural graphite production declined by 15.4% to 952,600 tons in 2020, natural graphite production is expected to grow by 7.6% to 1.025 million tons in 2021.
Among them, China is the world's largest natural graphite producer, expected to produce 665,000 tons of natural graphite for the year.
Peru's mining exports rose 13 per cent in October
According to data from Peru's National Association of Mining, Oil and Energy, Peru's mining exports from January to October were $198.25 billion, down 14% from the same period last year. However, the export volume in October alone reached $2.757 billion, up 13% from the same period last year, indicating that the mining industry is recovering.
In addition, copper mine exports in October were $1.477 billion, up 27% year on year.
Copper exports in the January-October period were US $9.782 billion, down 12.1% year on year and accounting for 29.6% of Peru's total exports.
