Central-bank gold buying fell by more than half in July even as bullion stayed near record highs, suggesting investment demand is taking on a bigger role in supporting the market. Net official-sector purchases dropped 54% to 23 tonnes from 51 tonnes in June, according to new World Gold Council data. China and Poland led buyers with 20 tonnes and eight tonnes, …
Continue ReadingAnother year of mine underperformance, record-low smelter treatment terms and a scramble for metal on the London Metal Exchange (LME). If you’re thinking this is a description of the copper market, think again. Copper may be facing a future structural supply shortfall but zinc is being squeezed in the here and now. LME three-month zinc hit a new four-year high of $3 990 per ton on Monday. LME stocks …
Continue ReadingThe United States is trying to turn its political dialogue with Central Asia into concrete projects for mining and processing critical minerals. American capital is already moving into Kazakhstan’s tungsten sector and has long been present in Tajikistan’s antimony industry, while Washington is looking more closely at the mineral potential of Uzbekistan and Kyrgyzstan. But access to deposits is only …
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