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Catch up and get informed with this week’s content highlights from Charlotte McLeod, our editorial director. Gold continues to perform well in the second quarter. After starting this week around the US$1,780 per ounce mark, the yellow metal nearly reached US$1,800 mid-week. Experts have pointed to lower US 10 Year Treasury yields as at least part of the reason for gold’s uptick during the period. Yields sank below 1.6 percent, and some market watchers have suggested that a fall below 1.5 percent could push gold over the key price of US$1,800. “What’s obviously underpinning the upswing (in gold) is the dynamic in US Treasuries … which is sort of pushing lower in the very short term,” analyst Kyle Rodda of IG Market told Reuters. ....
Lithium companies have been active in M&A lately, and more may follow after the proposed deal between Galaxy Resources and Orocobre. Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace. Once the merger is complete, the new company will become a top five lithium chemicals company globally and top three outside of China with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year. ....
The Investing News Network takes a look at Australia mining trends for 2020, with a macro view of the issues that came to the fore. Click here to read the previous Australia mining trends article. When looking back at the main trends for mining in 2020, the impact of the coronavirus pandemic is front and center for commodities and markets across the board. For Australia, resources and energy exports are weathering the COVID-19 pandemic well, despite adverse impacts on a number of metals. Overall, government data shows that resources and energy exports reached a record AU$290 billion from 2019 to 2020, supported by strong prices for gold and iron ore. ....