News - Prospector's Diary

Rare earths made headlines this week thanks to a controversial takeover bid for Lynas Corporation

Rare earths made headlines this week thanks to a controversial takeover bid for Lynas Corporation, but whether the offer from Wesfarmers succeeds or not, the important message is that one of Australia’s biggest industrial companies has decided it’s time to invest in mining. More specifically, the move on Lynas is fresh evidence that the electric car revolution is more than a passing fad, reinforcing the case for the broad family of metals needed in electric motors, either as fuel (lithium) or in other applications such as high-strength magnets (rare earths).

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Nickel regained its share of the investment spotlight this week

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Currency values, rather than commodity and share prices, have emerged as the key force in shaping financial markets over the rest of 2019

Currency values, rather than commodity and share prices, have emerged as the key force in shaping financial markets over the rest of 2019, with the likelihood of a continued decline in the Australian dollar ensuring increased interest in gold. Westpac Bank this week joined the “dollar down” club with a forecast of a slide in the Aussie currency to US68 cents over the remainder of the year, and while that might not be a big fall from its current US70.8c it would lift gold above $A1900 an ounce.

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Gold played second fiddle to industrial metals this week with copper, nickel and iron ore doing best despite the rolling uncertainty of the China v US trade war. But in the background was an event which could see gold perk up next week.

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Corporate deals in the gold sector and copper discovery announcements dominated the news cycle in mining this week, though the more interesting share-price moves where in a part of the industry that some politicians wish would go away: coal.

Corporate deals in the gold sector and copper discovery announcements dominated the news cycle in mining this week, though the more interesting share-price moves where in a part of the industry that some politicians wish would go away: coal. Gina Rinehart, Australia’s richest person, demonstrated decisively her belief that coal is here for the long term, especially metallurgical coal, by plopping down $740 million to buy the shares she doesn’t already own in Riversdale Coal which is developing a mine in Canada.

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Two forgotten sectors of the Australian market made a return this week

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Iron ore has been the newsmaker in the mining world over the past few weeks

Iron ore has been the newsmaker in the mining world over the past few weeks thanks to Brazil’s dam dilemma, but the commodity to watch over the rest of the year could be copper, a metal with its “stars aligning”, according to Morgan Stanley. The big US-based investment bank said the next two years would see “a combination of favourable supply and demand dynamics, equity re-rating and asset scarcity” culminating in an attractive investment case for copper miners.

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The annual migration of the mining industry to the seaside delights of Cape Town and associated talkfests such as the Mining Indaba conference was trumped this week by the return of iron ore as a hot commodity.

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Upcoming Events

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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