In the world’s top exporter of the precious stone jade, Myanmar (formerly known as Burma), a startling discovery was made by a mining company in conjunction with the country’s Ministry of Mining.
Chatter in the oil market has been dominated by next week’s meeting in Algiers by OPEC oil ministers, along with Russian officials. The Algiers oil talks will center on hammering out differences in each nation’s stance regarding implementing a global freeze on oil production.
We love to hear about people finding gold nuggets with metal detectors. These kinds of stories often appeal to our sense of adventure and, frankly, are fun to report on! While treasure hunting and metal detecting are very popular and rewarding hobbies, not everybody has the time or means to go out searching for buried […]
Oil traders and energy companies are reeling from news that the global oil glut will last longer than previously thought. A one-two punch of increasing non-OPEC supply, combined with slowing demand in Asia, has economists rethinking the sunny forecasts they were issuing only last week. This leads to the question: How much longer will the […]
Among many other more important factors, one of the precursors to the financial crisis was the lifting of a long-standing legislative prohibition on investment banks simultaneously operating as commercial banks, and vice versa. Since the passage of the Glass-Steagall Act (1933) during the time of FDR and the New Deal, these two functions were kept […]
Oil traders originally cheered the news that OPEC members will meet informally this month while attending the International Energy Forum conference in Algiers. That enthusiasm has now waned, as the oil market reacts skeptically to recent soundbites from various oil ministers. Remembering how hopes were dashed this past April when the Saudis suddenly scuttled an […]
Showing once again what huge dividends a hobby like metal detecting can pay, an incredible four-kilo gold nugget was recently discovered in Victoria, Australia. It was found with a Minelab metal detector (shown, below).
Gold mining firms have been strong this year, with industry players big and small alike posting remarkable gains. However, the broader mineral and resource mining space is still trying to recover from its multiyear slump.
The Platinum Group Metals are apparently coming back into vogue among bullion investors. The two PGMs (platinum and palladium) are rallying more than their precious metal cousins of late, and the markets have responded.
The global oil glut may become even worse, as the rapid adoption of solar energy installations reduce the demand for oil. The outlook for coal is even bleaker: Solar and wind together are expected to totally replace coal in the next 20 years. In fact, this year’s annual report from Bloomberg New Energy Finance predicts […]
Technical advances in horizontal drilling have transformed shale oil into the most cost-effective and fastest sector in the US petroleum industry. Fracking operations in the American West are now considered the global swing producer, instead of Saudi Arabia. As efficiency has risen and costs have fallen, shale now supplies 2/3 of the natural gas and […]
The rapid increase in Iran’s oil exports have caught global oil markets by surprise. The nation’s pledge to return to pre-sanctions levels of production by June were seen as a pipe dream earlier this year, but have apparently become reality. Locked in an ideological and economic battle with Saudi Arabia, Iran sees rapidly increasing their […]
We continue to see more and more evidence that the market for high-end diamonds and precious gems is beginning to catch fire. Earlier this week, in fact, the magnificent Aurora green diamond sold for a record-setting $16.8 million (HK$130 million) to a Hong Kong jewelry company.
Oil prices near $50 a barrel is bringing cautious optimism to America’s shale oil fields. The drilling companies that survived prices under $30 a barrel are discreetly increasing production, but are keeping a wary eye on global oil demand. Is the oil market finally recovering for real, or is this another trap set by the […]
Escalating violence in Nigeria’s main oil-producing region is pitting the army against a new militant group determined to destroy the nation’s oil industry. The group responsible for these attacks call themselves the Niger Delta Avengers. Their stated goal is to force the government to invest more money in the environmentally and economically devastated Niger Delta […]
Although often overlooked relative to the silver and gold markets, platinum is primarily an industrial metal that combines beauty, rarity, and status as a precious metal. Not only are there developments worth watching in the platinum mining industry, but the metal could also offer interesting trading opportunities for bullion investors.
The largest diamond ever discovered in North America was recovered by Rio Tinto (RIO) at its Diavick diamond mine in northwest Canada. However, this diamond was slated to have been pulverized (by accident) if not for a fluke!
The Canadian mining firm, Lucara (LUC), must be celebrating its string of good fortune. The company unearthed not just one but two incredible diamonds from the Karowe mine it operates in Botswana. Clocking in at 813 carats and 1,109 carats, these are two of the largest raw diamonds ever found.
Reuters and Oilprice.com are reporting that the Libyan oil industry may come to a complete standstill in the next month. A rival Libyan government in Tobruk has shut down the nation’s largest oil terminal, through which 75% of Libyan oil exports are loaded. In a case of economic blackmail, the Tobruk government is demanding concessions […]
A recent scientific paper has calculated actual global oil reserves as being less than 50% of the claimed 1.7 trillion barrels. A combination of plunging oil prices and overly optimistic accounting means there are a total of 875 billion barrels of “phantom oil” on the books of oil companies world-wide. Some analysts claim that the […]