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Commodities, General discussion of commodities
blacksheep
post Posted: Dec 6 2019, 10:00 AM
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Glencore sees higher zinc, oil production by 2022
Published: Dec 3, 2019
QUOTE
Glencore PLC (GLEN.LN) said Tuesday that it expects zinc and net oil equivalent production to be higher by 2022 while copper production is expected to modestly decline.

The Anglo-Swiss commodity trading and mining company said net oil equivalent production is set to reach a range of between 12.3 million barrels and 13.1 million barrels in 2022. This compares with a range of between 5.3 million and 5.7 million barrels for 2019.

Zinc production is also expected to rise in the period, with production peaking at around 1.4 million metric tons in 2021, and then falling to around 1.2 million tons in 2022, the company said. Production in 2019 is expected to be around 1.1 million tons.

For 2019, coal guidance was reduced by 5 million tons to between 138 million and 142 million tons, and the company expects largely flat production in 2022, offering a range of between 135 million and 145 million tons.

The company expects a modest copper-production decline over the outlook period, primarily reflecting the transition of Mutanda facility in Congo to care and maintenance in the fourth quarter. For 2019, Glencore guides for a production of around 1.4 million tons. This is expected to fall to around 1.3 million to 1.4 million tons in 2022.

https://www.marketwatch.com/story/glencore-...2022-2019-12-03



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 2 2019, 03:15 PM
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Growing inequality threatens mining
Richard Mills - Ahead of the Herd | December 1, 2019

QUOTE
Conclusion

For many the fruits of capitalism have shown up as spoilt goods. It’s harder to buy a house, get ahead, save for retirement. Working people are mad as hell, and they aren’t going to take it anymore.

Social upheaval is becoming more common in a greater number of countries. We’ve seen it in Chile, there is also social unrest in France, Spain, Germany, the UK (Brexit), Algeria, Iraq, Lebanon, Egypt, Russia, Hong Kong, Venezuela, Chile and Bolivia.

Especially in developing nations, ie. South America and Africa, politicians are pressured by their base, to enact policies that benefit everyday citizens. Inequality is a key driver of what is often a government-led attempt to download wealth from rich corporations to the poor.

Mining companies are targeted by governments intent on reaping more profits from them, expropriating mines, denying permits, or putting more restrictions on miners, all in the name of “the will of the people”. Indonesia’s ban on the export of raw ores, so they can be beneficiated locally, is one example, the closing of 23 nickel mines by Philippines President Duterte’s government is another.

Miners are easy targets because mining is a long-term investment and especially capital intensive. Mines are also immobile, so mining companies are at the mercy of the countries in which they operate. Outright seizure of assets often happens using the twin excuses of historical injustice and contractual misdeeds. There is no compensation offered and no recourse.

Countries are getting creative in how to bleed away miners’ profits. Governments have gone beyond taxation in getting more out of the mining sector with a wave of requirements such as mandated beneficiation (where ore is processed locally rather than exported raw), export restrictions and increased state ownership of mines.

As the demand by Western countries for these raw materials grows, the connections between inequality, social unrest and mining are tightening.


https://www.mining.com/web/growing-inequali...reatens-mining/




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2019, 10:16 AM
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Material Matters: Copper, Iron Ore And Coal
Commodities | Nov 27 2019

QUOTE
A glance through the latest expert views and predictions about commodities. Large cap resources; copper; base metals; iron ore; and coal.

-Major resource companies well-positioned heading into New Year
-Main catalyst for copper is US/China trade deal
-Increasing pressure on aluminium smelters in the face of excess capacity
-Robust demand keeping iron ore market tight
-Russia ramps up production of thermal coal


read more - https://www.fnarena.com/index.php/2019/11/2...ore-and-coal-2/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: lgrif  
 
blacksheep
post Posted: Nov 12 2019, 02:00 PM
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A good read - Power To The People, And Mining - Richard (Rick) Mills Ahead of the Herd - https://www.sharecafe.com.au/2019/11/12/pow...ple-and-mining/

Lithium and copper mining get a special mention
QUOTE
Conclusion

Country risk is one of the most serious and unpredictable risks facing mining operations and investor interests – where the political and economic stability of the host country is questionable and abrupt changes in the business environment could adversely affect profits or the value of the company’s assets.

We’ve seen many instances of companies losing assets that were lawfully theirs. Several countries come to mind as places where shareholders could, without warning, receive news that their investment’s operations have been taken over by the government or its friends, or where permits get delayed or canceled outright.

This is not a static list. The Fraser Institute does a good job of ranking countries annually according to their attractiveness to investors. Last year Chile ranked sixth, above copper competitor Peru, all Canadian provinces/territories with the exception of Saskatchewan and Quebec, and every US state but Alaska and Nevada. Where will the lithium and copper powerhouse fall in the next Fraser Institute rankings, given how far the long arm of the state has reached into the mining industry, along with fresh uncertainty caused by wide-spread protests, property damage, deaths and injuries?

It’s a reminder that we, as junior resource investors, must constantly assess, and re-assess, where we put our hard-earned cash. Knowledge is power. Having the right information will save you from making mistakes and hopefully guide you in the direction of shareholder profits.




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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  lgrif  mullokintyre  
 
nipper
post Posted: Nov 3 2019, 11:58 AM
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AJ Lucas, Cudmilla.

must be an election round the corner



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
joules mm1
post Posted: Nov 3 2019, 11:56 AM
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https://twitter.com/i/moments/1190622427052695552
uk bans fracking #gas




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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Oct 29 2019, 03:08 PM
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In Reply To: blacksheep's post @ Oct 29 2019, 01:09 PM

Copper prices seen stifled by growth fears next year: Reuters poll
QUOTE
LONDON/ (Reuters) - Prices of copper and other industrial metals are expected to be capped next year as weak economic growth weighs on the market, a Reuters poll showed.

read more - https://www.reuters.com/article/us-metals-b...l-idUSKBN1X717V



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 29 2019, 01:09 PM
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Posts: 6,791
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What a difference a year makes: gloom and doom at Metals Week
Bloomberg News | October 28, 2019 | 7:31 am
QUOTE
At last year’s LME Week, the industry was mostly optimistic. This time, things are looking bleak.

The outlook for some key metals is at the weakest since the financial crisis as the U.S.-China trade war and a synchronized global slowdown pummel consumption and investor sentiment. Economic bellwether copper is flashing warning signals, with demand growth stalling this year as manufacturing contracts.

Attached Image



QUOTE
The only standout in the group is nickel, which has surged amid concerns about tight supply.

Attached Image



read more - https://www.mining.com/web/what-a-differenc...at-metals-week/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 12 2019, 08:19 PM
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Australian Government Resources & Energy Quarterly September 2019
https://publications.industry.gov.au/public...tember-2019.pdf




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 30 2019, 02:37 PM
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Posts: 6,791
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Australia trims outlook for commodities peak as prices weaken
Bloomberg News | September 29, 2019 |
extract
QUOTE
Commodity forecasts:

Iron ore seen averaging $80.10/ton in 2019, $61.40/ton in 2020 and $57.50/ton in 2021, unchanged from previous forecasts. Projections refer to spot ore with 62% content, FOB Australia.

Newcastle benchmark thermal coal forecast to average $95/ton in 2019 and decline to $72/ton in 2020 as demand weakens.

Spot coking coal is forecast to average $186/ton in 2019 and $168/ton in 2020.

Oil prices are seen declining on higher output, including from the U.S. Brent crude to average $65.70/barrel in 2019.

Gold seen supported by trade tensions and geopolitical risks and is forecast to average $1,391/ounce in 2019. Prices in Australian dollar terms to rise to a record annual average A$2,042 an ounce in 2020.

Copper prices experienced increased volatility on trade tensions and reduced economic activity, though will be supported longer-term by rising consumption. Prices to average $5,938/ton this year and $6,193/ton in 2020.

Lithium prices are expected to see further falls after declining about a third year on year amid surging supply. Growth in global lithium consumption has slowed in response to challenging economic conditions and policy changes in China


read more - https://www.mining.com/web/australia-trims-...-prices-weaken/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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