Miners will weather the covid-19 storm — report

After correctly predicting $47/bbl oil last year, Chen Lin is licking his stock-picking chops at the bargains now available.

Unprecedented meltdown continues as iron ore price suffers worst trading day in more than year on Thursday bringing weekly loss to eye-watering 15%.

Toronto-based gold miner at this time does not anticipate impact to regional production guidance after freak floods damage its Maricunga mine.

The recently completed feasibility study should whet investors appetite, say analysts.

The news comes on the heels of a report showing that less than half of existing copper projects are really needed to meet current demand.

After a freak storm and flooding in Chile’s Atacama Desert temporarily closed one of the world’s leading lithium operations, fears of further supply squeezes and upward price pressure this year have been allayed after operations resumed.

Eleonore is expected to eventually become Canada’s largest gold producing mine.

New report identifies 231 existing copper projects with potential output of nearly 13m tonnes which will more than make up for long-term mine depletion.

3.6% plunge to just above $50 a tonne on Tuesday brings year to date losses to 28%.