Mining

    Peter Schiff says rising yields are 'the most bullish thing' for gold, warns Washington could pay 50 cents on the dollar teaser image

    Peter Schiff says rising yields are 'the most bullish thing' for gold, warns Washington could pay 50 cents on the dollar

    (Kitco News) - Schiff tells Kitco News anchor Jeremy Szafron that 9% mortgages and a 30% to 50% drop in home prices could be next, and why he holds more of his own money in gold miners than bullion.

    Kitco Mining Channel

    India steel ministry unlikely to seek new curbs on cheap imports, government source says

    India’s steel ministry is unlikely to push for any new measures to curb cheap imports in the near term, turning down a request from domestic steelmakers, according to a government source with direct knowledge of the matter.India, the world’s second-biggest crude steel producer, was a net importer of finished steel in April-August, shipping in ​3.5 million metric tons of the alloy, up 29.5% from a year ago. China accounted ​for 31.8% of imports, making it the top exporter of finished steel to India in the period.

    Newmont CEO urges discipline in gold industry despite higher prices

    The CEO of Newmont (NYSE: NEM), the world’s largest gold miner, on Wednesday urged the industry to control spending and invest wisely despite higher gold prices, saying the favourable market presented an opportunity for investors to benefit from expanding margins.Gold rallied sharply in 2025 on safe-haven demand, hitting a record high of $5,595 an ounce in January 2026 and helping producers like Newmont report higher profits.

    Gold liquidity deep enough for Asian, Western hubs to coexist, HK and Singapore say

    Global gold market liquidity is deep enough to support the growth of emerging Asian hubs alongside established Western trading centres, representatives from Hong Kong and Singapore told a precious metals conference on Tuesday.The two Asian financial centres are expanding their gold trading ecosystems, prompting worries in the West that this would mean direct competition for liquidity with the London bullion market, the world’s largest for over-the-counter trade, overseen by the London Bullion Market Association.
    Tsingshan’s Zimbabwe steel unit partners with state rail firm to boost haulage capacity teaser image

    Tsingshan’s Zimbabwe steel unit partners with state rail firm to boost haulage capacity

    The Zimbabwean steelmaking unit of Chinese metals giant Tsingshan Holding Group on Monday signed a partnership deal with the National Railways of Zimbabwe (NRZ) to expand capacity for coal and steel haulage, the state logistics company announced.Tsingshan’s Dinson Steel Company, whose $1 billion steel plant in central Zimbabwe started production in 2024, will haul 1.1 million metric tons of coal from Hwange, a distance of about 600 km (373 miles).
    Sumitomo Metal expects global nickel market to stay in surplus in 2027 teaser image

    Sumitomo Metal expects global nickel market to stay in surplus in 2027

    The global nickel market is expected to remain in surplus next year as Indonesian output recovers on potentially higher mining quotas and lower sulphur and sulphuric acid prices, Japan’s top nickel smelter Sumitomo Metal Mining (TYO: 5713) said on Tuesday.SMM forecasts a global nickel surplus of 34,000 metric tons in 2027, narrowing from 38,000 tons this year. Indonesian production of low-grade nickel pig iron (NPI) is expected to rebound 11.9% to 1.88 million tons, according to the company’s half-year market outlook.
    Congo launches geological survey in push to unlock mineral potential teaser image

    Congo launches geological survey in push to unlock mineral potential

    Democratic Republic of Congo has launched a nationwide airborne geological mapping programme aimed at improving knowledge of its vast mineral reserves to reduce exploration risk and attract investment into underexplored regions, its geological agency said.Congo is the world’s largest cobalt producer and Africa’s top copper producer, but authorities say less than 10% of the country’s territory has been thoroughly explored.
    Norsk Hydro sees up to $210 million hit from gas supply disruption at Alunorte teaser image

    Norsk Hydro sees up to $210 million hit from gas supply disruption at Alunorte

    Norsk Hydro (OTCMKTS: NHYDY) said on Monday it could take a financial hit of up to $210 million as it continues to buy gas at spot-market prices following disruptions to natural gas deliveries at its Alunorte refinery in Brazil.The Norwegian company estimates a $75 million to $100 million impact to its bauxite and alumina business in the third quarter due to lower production and purchase of gas above contracted prices.It expects a further $90 million to $110 million hit in the fourth quarter from gas arbitrage costs at Alunorte.
    Tsingshan’s Zimbabwe steel unit partners with state rail firm to boost haulage capacity teaser image

    Tsingshan’s Zimbabwe steel unit partners with state rail firm to boost haulage capacity

    The Zimbabwean steelmaking unit of Chinese metals giant Tsingshan Holding Group on Monday signed a partnership deal with the National Railways of Zimbabwe (NRZ) to expand capacity for coal and steel haulage, the state logistics company announced.Tsingshan’s Dinson Steel Company, whose $1 billion steel plant in central Zimbabwe started production in 2024, will haul 1.1 million metric tons of coal from Hwange, a distance of about 600 km (373 miles).
    US-Ukrainian investment fund seals first critical minerals deal teaser image

    US-Ukrainian investment fund seals first critical minerals deal

    The joint US-Ukrainian ‌reconstruction investment fund has sealed its first critical minerals deal alongside four other new projects, one of its top US officials told Reuters.The fund, established as part of the minerals pact the two countries signed in April last year following a push by US President Donald Trump, is focused ​on five strategic sectors from minerals and defence to energy and infrastructure.
    US to lend $4.2 billion to Vistra to boost nuclear power output, source says teaser image

    US to lend $4.2 billion to Vistra to boost nuclear power output, source says

    The US will lend Vistra Corp (NYSE: VST) about $4.2 billion to boost its nuclear power generation, a person familiar with the matter said on Saturday.US Energy Secretary Chris Wright will make the announcement on Monday at Vistra’s nuclear plant along Lake Erie in Ohio, said the person, who spoke on the condition of anonymity.The loan would be used to boost power output, or “uprate” at least three of Vistra’s four nuclear stations, which can be done without requiring new licenses from the Nuclear Regulatory Commission.
    Masan High-Tech seeks approval for 5% private placement to fund tungsten expansion teaser image

    Masan High-Tech seeks approval for 5% private placement to fund tungsten expansion

    Vietnamese tungsten producer Masan High-Tech Materials is seeking shareholder approval for a private placement of up to 5% of its shares to long-term investors to fund mine expansion and downstream processing, following a stake sale to the Pentagon-backed US producer Elmet Group (NASDAQ: ELMT) last month.The shares would be offered to strategic investors, domestic and foreign institutional investors and professional securities investors, the company said in a filing dated October 1.
    Freeport says Indonesia’s Grasberg mine ramp-up on track after mudslide disruption teaser image

    Freeport says Indonesia’s Grasberg mine ramp-up on track after mudslide disruption

    Freeport-McMoRan (NYSE: FCX) said on Friday progress at its Grasberg Block Cave underground mine in Indonesia is on track for a phased ramp-up, as the miner undertakes recovery efforts following a deadly mudslide that disrupted operations last year.The company, whose shares rose 3.2% in morning trading, expects to reach 80% of capacity in mid-2027 and approach full capacity by year-end 2027.Grasberg, the world’s second-largest copper mine and largest gold mine, was hit by a massive mud flow last year that killed seven workers and shuttered operations for nearly a month.
    China demands copper supply commitments for Anglo-Teck merger approval teaser image

    China demands copper supply commitments for Anglo-Teck merger approval

    China’s antitrust regulator has asked Anglo American (LON: AAL) to commit to supply the country with a steady flow of copper concentrate as a condition for approving its proposed $54 billion merger with Canada’s Teck Resources (TSX: TECK.B), three people aware of the development said.The demand reflects China’s struggle to feed its vast copper smelting industry, which refines up to 60% of the world’s copper cathodes but faces its worst feedstock shortage in decades.
    Asian gold demand improves as price pullback draws buyers teaser image

    Asian gold demand improves as price pullback draws buyers

    Physical gold demand in most key Asian hubs improved modestly this week as lower prices lured some buyers back to the market, though others awaited a steeper decline.In India, domestic gold prices fell to 145,538 rupees per 10 grams this week, their lowest in nearly two months.Demand was better than last week as prices corrected, making buyers more interested and narrowing the discounts offered by sellers, said Harshad Ajmera of wholesaler JJ Gold House in Kolkata in eastern India.