Archive for August, 2016

Prospector discovers $300,000 nugget at Ballarat Victoria Australia

Thursday, August 25th, 2016

gold-nugget 5 kilo ballarat vic image www.www-globalcommodities.com

January 18, 2013

A 5.5kg gold nugget estimated to be worth up to $300,000 has been found by a prospector in bush near Ballarat.

The prospector, who wished to remain anonymous, discovered the nugget on Wednesday at a depth of 60cm and footage of the discovery was soon posted on YouTube.

Once the signal had been tracked through an expensive metal detector, the prospector kicked off leaf mulch from the surface and decided to dig after the ground looked in original condition.

News Limited reports Ballarat Mining Exchange Gold Shop owner Cordell Kent said the prospector initially thought he had found a car bonnet, but detected a glint of gold after he started digging.

“He cleaned the top of it and the gold kept expanding … he saw more and more gold … he couldn’t believe what he was seeing,” he said.

The nugget is worth about $282,000 in weight, but is worth more because of the rarity and size of the nugget.

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Henry Sapiecha

Huge 4 kilo gold nugget discovered in Victoria Australia

Thursday, August 25th, 2016

Fridays-Joy-4 kilo gold nugget image www.www=globalcommodities.com

An Australian prospector has discovered a massive 145-ounce gold nugget worth more than $250,000.

Dubbed ‘Friday’s Joy’, the nugget was found with a Minelab metal detector in an already work-over area at the southern edge of central Victoria’s Golden Triangle, an area well known for yielding gold, finding the top of the nugget only around 30cm below the ground.

The prospector who found the nugget wanted to stay anonymous.

“I thought it was rubbish at first, maybe an old horseshoe,” the man said,“I was in total disbelief as I didn’t think nuggets of this size were still around.”

An avid prospector – having prospected for more than ten years – the man had an agreement with his other gold prospecting enthusiast friends to split the proceeds on any large gold item found when they went prospecting together.

Upon the find, he was unsure of what to do at first.

“It’s like catching a big fish and not knowing what to do with it,” he said.

“I washed it in water, covered it in aluminium foil and kept it in my oven on the first night.”

The man did not intend to quit his job and retire, instead aiming to buy a van and travel around Australia, sightseeing and prospecting.

The nugget is currently in a bank vault, with a replica in construction. Plans for an auction are also underway.

Minelab’s regional sales and marketing director Fraser Kendall said the company was thrilled a customer made such a discovery.

“He was prospecting in an area that others had clearly worked over and this just goes to show that there’s plenty of gold still coming out of Victoria,” he said.

Kendall added that the nugget was on par with the 159.3 ounce ‘Cindy’s Pride’, and surpassed prospector Mick Brown’s 87-ounce ‘Fair Dinkum’ gold nugget found last year near the Wedderburn, around 200km north of Melbourne; it was later auctioned for $175,000.

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Henry Sapiecha

A commodities rebound is moving fast forward right on China’s doorstep

Sunday, August 21st, 2016

China may be slowing, but a commodities rebound is under way and the world’s biggest miner knows where the next growth story is building – emerging economies in South-east Asia.

Combined gross domestic product in the ASEAN-5 nations – Indonesia, Thailand, Malaysia, the Philippines and Vietnam – will rise about a third to $US3 trillion ($3.9 trillion) in the five years to 2020, fuelling commodities-intensive infrastructure projects. Momentum like this across Asia will help maintain and increase commodity demand, BHP Billiton’s chief executive Andrew Mackenzie said this week.

BHP’s staggering loss explained

Fairfax resources writer Peter Ker breaks down what’s behind BHP Billiton’s enormous $8.3 billion loss.

“People have been so used to believing that commodities was a China story, and that with China decelerating where’s the growth going to come from?” Nathan Lim, Sydney-based head of research for Morgan Stanley’s wealth management division, said by phone. “That incremental demand is coming from the emerging markets, and that’s the part people don’t have their head around.”

commodities -graph-2 image www.www-globalcommodities.com

Thailand is considering more than $US50 billion of infrastructure spending, while Vietnam has begun major projects including a $US10 billion rail modernisation, Indonesia is seeking to accelerate road to ports programs and Philippine President Rodrigo Duerte has promised new railroads and airport runways. These markets are “back on their growth path after a period of under-performance”, according to Lim.

Financial crisis

Commodities surged the most in the first half since the 2008 financial crisis as China’s economy stabilised and policy makers backed growth. The World Bank forecasts commodities will rebound next year after hitting the bottom of the cycle and Citigroup agrees, saying last month it’s bullish on raw materials for 2017.

A bellwether of commodities’ demand is steel. New demand across South-east Asia is seen increasing the market for China’s steel exports, which notched record volumes in the first seven months of 2016 and have supported rising iron ore imports.

China is already exporting about 12 per cent of its output and could raise sales overseas further, according to BHP’s Mackenzie. India will also import more iron ore, as will nations across Southe-ast Asia, he told analysts in a presentation Tuesday.

steel-worker-at-work image www.www-globalcommodities.com

Commodities surged the most in the first half since the 2008 financial crisis as China’s economy stabilised and policy makers backed growth. Photo: Jessica Shapiro

Steel proxy

“We look to use steel as a proxy, though you would naturally find the same dynamics for other commodities as well, whether it’s aluminium or copper or bauxite,” Morgan Stanley’s Lim said. Steel demand in the ASEAN-5 will grow at about 6 per cent this year and in 2017 on infrastructure building, according to the World Steel Association. Consumption of 74.6 million tons in 2017 will be more than in regions including Africa and the Middle East, and compares to forecast demand in China of 626.1 million tons, the association said in April.

Fortescue Metals Group, the No. 4 iron ore exporter, said in March it saw emerging sources of steel demand across Asia and in India. China is no longer the sole driver for the $US120 billion copper market, according to Andrew Cole, chief executive of OZ Minerals, a producer that’s also developing Australia’s biggest unmined deposit of the metal.

BHP's CEO Andrew Mackenzie image www.www-globalcommodities.com

Momentum across Asia will bolster commodity demand, BHP’s CEO Andrew Mackenzie said this week. Photo: Bloomberg

“Global demand for copper is becoming increasingly diversified, both geographically and by industry sector,” he said in an August 10 interview with Bloomberg Television. “We are seeing increasing diversification through other counties outside of China, which is an important factor that we need to remember.”

commodities-graph image www.www-globalcommodities.com

Still, global industrial production – output of mining, utilities and manufacturing – is well below historical levels and China “remains the only real growth story”, Macquarie Group said in an August 15 note.

The impact of action early this year to stimulate China’s economy is now fading, the bank said.

China accounts for about 65 per cent of iron ore imports, takes 21 per cent of seaborne metallurgical coal and consumes about half the world’s copper, according to a joint report this month by Westpac Banking Corp and Australia’s Department of Industry, Innovation, Science.

BHP, Whitehaven Coal, Alumina and Evolution Mining are among the companies that Morgan Stanley’s Lim sees benefiting from the emerging Asia growth story. BHP’s second-half underlying profits jumped 95 per cent, while coal producer Whitehaven reported Thursday it swung back to a net profit in fiscal 2016 from a loss the previous year.

“We are not saying that we have discovered a new China, or that India is going to become the new China,” Lim said. “The underlying message is that the reason we are seeing demand coming from ex-China, is that it’s the emerging markets where we see the next leg of growth.”

Bloomberg

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Henry Sapiecha

 

Seven rare earth minerals that run our world-Infographic shows it all here

Wednesday, August 17th, 2016

7-Rare-Earth-elements-that-run-our-world-infographic chart image www.www-globalcommodities.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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