Archive for September, 2016

World’s Gold Miners Stick Close to Home in Hunt for More Metal

Monday, September 19th, 2016

The world’s biggest gold miners are taking a cautious approach in their hunt for bullion, spending more money to explore around existing mines rather than new territory in a strategy that may have short-term gains but risks future production growth.

Top producers are relying more than ever on small companies to do the heavy lifting of searching for new deposits and increasingly taking 10 to 20 percent equity stakes in the junior miners.

Exploring close to home is more cost efficient and improves the odds of discoveries. But the chances of making major new finds are limited, diminishing global gold output, which is expected to decline by nearly 9 percent in the next three years.

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G20 Pledges to Tackle Global Steel Glut

Monday, September 5th, 2016

G20 leaders have pledged to work together to address excess steel capacity that has punished the global industry with low metal prices for years while raising tensions between China and other major producers.

A statement from the White House said that leaders at the G20 summit in Hangzhou, eastern China, on Monday (September 5) accepted that overcapacity in steel and other industries is a global issue that requires a collective response.

Proposals for the formation of a global forum that would seek a global solution and report back to the G20 next year underscore the growing resolve to support a sector that has long been grappling with chronic oversupply and sluggish demand.

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