The U.S. to be forced into 'something drastic' to save the dollar: Revalue gold or adopt Bitcoin standard? Mark Moss weighs in

Rollercoaster markets: Bitcoin breaks $95k, gold rises, stocks see mixed results

Gold is giving back $250 election premium, $300 China premium at risk from stimulus – Société Générale

Gold rallies on more bargain hunting, short covering

There is no reason to revise gold forecasts after correction - Mind Money CEO

Gold surges on geopolitical tensions and Putin's nuclear doctrine revision

ECB sounds alarm: Eurozone faces looming debt crisis

‘I'm really bullish on the equities starting to outperform gold for the first time in many years’ - Michael Gentile

Crypto revolution: How Trump's election could spark Bitcoin boom – S&P

‘Everybody is growing the ounces, making all these deposits larger’ - Northern Superior CEO Simon Marcotte

Indian gold market fired on all cylinders in October despite record high prices – WGC’s Chacko

Safe havens rally: Bitcoin taps $95k, gold soars as stocks slide

Investors interest in gold continues to grow as GLD celebrates 20th anniversary

Is the U.S. economy on the brink? The Fed is 'illegal' & there are 'cracks in the empire,' gold price to quadruple if this happens, says Ron Paul 

Gold price up; bulls continue to claw back   

Nasdaq ends lower, S&P flat, investors watch Russia-Ukraine, await Nvidia earnings

Gold price surge on risk aversion and overcome strong USD

A perfect storm is brewing for Bitcoin

US dollar forecast: Gains persist as gold hits one-week high on Fed outlook

SMCI: Super Micro soars 31% as server maker taps new auditor, fights to stay on Nasdaq

Gold prices have the capacity to go even lower – TDS

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Gold market analysis for November 20 - key intra-day price entry levels for active traders

A multitude of factors are aligning for a silver supercycle – The Silver Institute

Go for gold says Goldman Sachs; prices still on track to hit $3,000 by year-end 2025

Gold rallies on safe-haven bids, short covering

Solid price gains in gold on safe-haven demand    

Gold market analysis for November 19 - key intra-day price entry levels for active traders

UAE surpasses London to become the world’s second-largest gold hub as Asian demand grows - DMCC

Gold is still on track despite severe selloff - State Street’s George Milling-Stanley

Bitcoin hits a new all-time high above $94k, gold rises amid Russia-Ukraine escalation

Trump Media reportedly in talks to acquire Bakkt crypto exchange

Stocks fall, gold rises, Bitcoin steadies as geopolitical tensions mount

Wall Street giant Goldman Sachs to develop blockchain-based financial hub

18 state coalition sues SEC over ‘gross overreach’ in cryptocurrency industry

‘Crypto won the election,’ Bitcoin will hit $200k in 2025 – Bitwise CIO Matt Hougan

Crypto lending set for a revival as institutions eye DeFi opportunities – industry experts

UK pension fund allocates 3% to Bitcoin as institutional adoption grows

Why Bitcoin’s path to $200k doesn’t depend on a collapse of the dollar - Bitwise CIO Matt Hougan

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Emory University invests in Bitcoin ETFs as institutional demand reaches new peak

Moscow – President Vladimir Putin accused the operator of Tomtor, Russia’s largest rare earth deposit, of delaying the deposit’s development, suggesting it should either raise investment or seek help from third parties, including the state.Tomtor, located in the north of the Siberian region of Yakutia, is a key project in Russia’s plans to boost output of the metals that are used in the defence industry and in making mobile phones and electric cars, to reduce reliance on imports from China.“Those business structures that took over these deposits many years ago are not investing. We need to somehow talk to them and resolve this issue,” Putin told First Deputy Prime Minister Denis Manturov during a meeting in the Kremlin.“Either they invest, or they establish relationships with other companies and the state. This is a strategically important resource that the state needs now,” Putin added.Before the Ukraine conflict, Russia planned to invest $1.5 billion in rare earth minerals, striving to become the biggest producer after China by 2030.Other countries, including the United States, are also trying to curb their reliance on China, which controls 95% of the global production and supply of rare earth metals.Businessman Alexander Nesis, a former shareholder in Polymetal, a major producer of gold and silver, used to own a 75% stake in a firm called ThreeArc Mining, the operator of the project, through his IST group of companies.Polymetal used to own a 9.1% stake in ThreeArc Mining.Following the ownership change after the start of Russian military action in Ukraine, and subsequent Western sanctions on Russian businesses, the operator of the project is now controlled by IST’s former manager Vladislav Resin.Resin’s company TM-Energo Finance did not immediately respond to a request for comment.Polymetal’s spokesman told Reuters that the company fully exited the project in June. In 2023, Polymetal wrote off $24 million in losses after the project’s development was put on hold.(Reporting by Nastya Lyrchikova and Gleb Bryanski; Editing by Bernadette Baum)

Putin scolds Tomtor rare earth deposit’s operator over development delays

Peru’s copper production fell 1.2% in September compared to the same month last year to settle at 232,423 metric tons, data from the ministry of energy and mines showed on Tuesday.Peru is one of the world’s largest suppliers of the industrial metal, and copper is a key national industry that churned out 2.76 million tons last year.The monthly drop in production was mainly due to lower supply from the Andean country’s two largest copper miners – Cerro Verde, controlled by Freeport-McMoRan, and Antamina, jointly controlled by Glencore and BHP.Output from Cerro Verde and Antamina fell 11% and 6.7% respectively year-on-year, the ministry of energy and mines said in a report.Accumulated copper output from January to September stood at 1,993,627 metric tons, 0.6% less than in the same period last year, the ministry added.Peru’s government recently lowered its 2024 copper production expectations to 2.8 million tons, from about 3 million tons projected at the beginning of the year.(By Marco Aquino and Aida Pelaez-Fernandez; Editing by Kylie Madry)

Peru copper output edges down 1% in September

Gold exports from Switzerland rose in October compared to September due to higher supplies to Britain, but were down from a year ago as high gold prices kept deliveries to China and Hong Kong subdued, Swiss customs data showed on Tuesday.Supplies from Switzerland, the world’s biggest bullion refining and transit hub, to Britain in October reached the highest level since June 2021, according to the data. London is the world’s largest centre for over-the-counter (OTC) trading of gold.This year’s 27% gold price rally, which took spot prices to a record high of $2,790.15 per troy ounce on Oct. 31, has been affecting physical demand in China, the world’s top consumer of the metal.However, gold exports from Switzerland to India, the world’s second-largest gold consumer and a major importer, rose in October from September amid festival purchases.(By Polina Devitt; Editing by Mark Potter)

Higher supplies to the UK lift Swiss October gold exports

Santiago – SQM, the world’s second-largest lithium producer, reported a 73% drop in third-quarter net profit on Wednesday, as higher sales volumes failed to offset a sharp decline in prices due to a supply glut.Lithium miners around the world have been impacted by a sustained drop in lithium prices in the past few months due to weaker-than-expected demand for electric vehicles. Lithium is a major component of batteries for electric cars.SQM reported net profit of $131 million for the quarter, below analyst estimates of $162 million, based on LSEG data.Revenue fell 41% year-on-year to $1.07 billion, in line with analyst forecasts.Lithium sales volumes rose almost a fifth compared with the same period last year, but average prices plunged 67%, the mining group said. Between the second and third quarters, prices dropped 24% for the metal.Prices are expected to fall further in the final months of the year, SQM said, tracking with the company’s prior forecasts of weak pricing throughout 2024.“Although demand continues to grow at a strong pace, mainly driven by strong EV sales growth in China, we continue to see the prices pressured by an oversupply,” CEO Ricardo Ramos said in a statement.The company said its third-quarter lithium sales included, for the first time, the SQM International division, which it launched in the prior quarter to focus on developing the company’s lithium business outside Chile.SQM, which also produces fertilizers and industrial chemicals, extracts lithium from the Atacama salt flat in northern Chile, a region with some of the world’s highest lithium concentrations.The company maintained its target for lithium sales volumes this year of 190,000 to 195,000 metric tons. Lithium made up 42% of its gross profit contribution this year.(Reporting by Daina Beth Solomon and Natalia Siniawski; Editing by Alexander Villegas and Jane Merriman)

SQM’s net profit slips on lower lithium prices

Houston – Exxon Mobil said on Wednesday it has signed a non-binding lithium supply deal with battery parts maker LG Chem, the oil giant’s second agreement to supply the electric vehicle battery metal from its proposed Arkansas project.Exxon last year announced plans to extract lithium from the Smackover Formation, an underground deposit of salty water known as brine that stretches from Florida through Arkansas and into Texas, using at least one type of direct lithium extraction (DLE) technology.Exxon and other oil companies such as Occidental Petroleum and Equinor are increasingly investing in lithium projects, partly due to their belief that extracting the metal from brine involves similar processes as petroleum extraction.The LG Chem agreement, which would require Arkansas officials to set a state lithium royalty rate to be finalized, is for up to 100,000 metric tons of the ultralight metal over several years.The move allows Exxon – which plans to self-fund its Arkansas project – to incorporate LG Chem’s lithium quality specifications into its design plans. South Korea-based LG Chem plans to use the lithium at its Tennessee cathode facility, slated to open next year.“This is about building a relationship with a company that has the same ambitions as building out the North American (battery) supply chain as us,” Patrick Howarth, head of Exxon’s lithium business, told Reuters.Exxon expects lithium demand to rise despite US President-elect Donald Trump’s campaign vow to end the “EV mandate,” Howarth said.“We know that the world’s going to need a lot more lithium than it’s producing today,” he said.Financial terms of the deal – including the price per metric ton of lithium that LG Chem would pay Exxon – would be negotiated as part of any final contract. SK On, a unit of SK Innovation, signed a non-binding lithium supply deal with Exxon in June.Despite recent lithium market turbulence, Howarth said Exxon has “seen really strong support from our potential customer base.”Arkansas officials earlier this month rejected a proposed lithium royalty rate of 1.82% from Exxon and others.Officials have been debating a lithium royalty since at least 2018, with tension centering on how the metal should be valued given the cost for equipment to filter it from brine, which unlike oil typically has no intrinsic market value.Landowners want a higher rate, noting that most U.S. oil royalties pay between 8% and 12%.“It’s one of the key regulatory issues that we need to resolve to bring these projects to market,” Howarth said, adding that Exxon could leave Arkansas – where it has invested more than $100 million – if the rate was too high.Officials hinted a 2.5% rate could be acceptable, which Howarth said would be “in the range that we would be able to move forward.” Exxon would need to formally propose a new rate, which is likely in the near future, he added.Exxon declined to say how much lithium it expects to produce annually in Arkansas, although the amount would depend on which DLE technology it chooses.“We’re definitely narrowing down the selection,” Howarth said. “But we’re still keeping multiple providers in play.”(Reporting by Ernest Scheyder; Editing by Jamie Freed)

Exxon Mobil signs non-binding lithium supply deal with LG Chem

At more than 3,700m above sea level, the “karachi” swims happily in dense salt flat waters, but locals worry a future lithium project will endanger this extreme-environment fish.The Orestias ascotanensis is a small ray-finned fish that grows to just 7.5 cm, but has adapted to the Ascotan salt flat’s high concentrations of heavy metals and variable salinity.The salt flat also sees high solar radiation and temperature variations that reach 26 Celsius (79 Fahrenheit) during the day and below freezing at night, according to Marco Mendez, a professor at the University of Chile who studies evolutionary biology.Scientists at the Millennium Institute’s genome center have been studying the fish and found genes that allow it to resist each element of its hostile environment, from solar radiation to heavy metals to low oxygen levels.The fish has also evolved to do it quickly.“We’ve seen how they’ve done this in a short evolutionary time because there are other variants of this fish in less hostile environments,” said Miguel Allende, director of the institute.“They’ve taken these genes and exacerbated them.”While the fish can survive extreme environments, it still needs an environment to live in and residents say copper mining has reduced the fish population due to water extraction.“That’s what’s hurting them, when they take the water, the fish die,” said Mauricio Anza, a local resident, who said people in the area are working to preserve the areas flora and fauna.But Ascotan is also one of the salt flats where the government plans to launch a private lithium mining project, something locals and experts say must come with guarantees to safeguard the ecosystem.“Mining activity, while important from an economic point of view, must be carried out with the aim of ensuring that this very particular environment is not lost forever,” Allende said.&nbsp;

Chile’s rare salt flat fish faces threat from lithium mining project

Nippon Steel will not import steel to the US from its international mills, the Japanese company’s executive vice president Takahiro Mori said on Monday in a letter to United Steelworkers union members.Nippon is looking to close its $14.9 billion deal for US Steel by the end of the year before President-elect Donald Trump, who has pledged to block the deal during his campaign, enters the White House in January.In its effort to ease the challenges posed by the union and President Joe Biden, the company has pledged investments to US Steel and assured job security to the United Steelworkers union.It has also promised to sell a stake in a US steel plant joint venture if the company succeeds in the buyout.In his letter, Mori reiterated the promises made over the past year and addressed concerns raised by union leaders, including USW president David McCall.“We are here to inform you, not to negotiate as president McCall has suggested. I have asked president McCall to meet, most recently on November 11. I await his response,” Mori said.In September, an arbitration board jointly selected by the company and the USW, ruled in favor of the deal, but the union disagreed with the decision.Mori, who is scheduled for a US visit next week, will meet steelworkers in Pittsburgh and also visit New York and Washington.The Japanese steel company is making efforts to finalize the deal, as the Committee on Foreign Investment in the United States has extended its review until the end of December.(By Aatreyee Dasgupta; Editing by Mohammed Safi Shamsi and Arun Koyyur)

Nippon Steel not to import from overseas mills in bid to save US Steel deal

Australia’s SRG Global won contracts worth A$700 million ($455.35 million) from companies such as Pilbara Minerals, South32, New Zealand’s Fonterra, London-listed Glencore, the construction &amp; engineering firm said on Tuesday.The firm has also signed a five-year contract for asset integrity services with Switzerland-based Glencore at the latter’s Murrin Murrin mining operations in Western Australia.SRG has been awarded an infrastructure contract with Pilbara Minerals to build a tailings dam at the Pilgangoora mining operation in Western Australia.It signed a five-year contract with world’s biggest producer of manganese, South32, for maintenance services at the miner’s Worsley Alumina bauxite and alumina refinery operations in the southwest region of Western Australia.SRG Global has also entered a three-year contract with dairy producer Fonterra across seven sites in New Zealand to provide specialist engineered access services for its dairy operations.A few other contracts have been awarded by existing clients within the water, dairy and resources sectors.($1 = 1.5373 Australian dollars)(By Rajasik Mukherjee)

SRG Global wins $455m worth of contracts across Australia, New Zealand

Nuclear fuel supplier Centrus Energy said on Monday it has received a notice from Russia’s TENEX that its government passed an order, which canceled its licence to export low-enriched uranium to the US, effective through Dec. 31, 2025.Shares of Centrus were down 4.3% at $73.14 in trading after the bell.Russia, the world’s largest supplier of enriched uranium, said last week it had imposed temporary restrictions on the fuel’s export to the United States, a symbolic tit-for-tat move after the US banned Russian uranium imports.TENEX is required to obtain a specific export licence from the Russian authorities to make each of the remaining 2024 shipments of low-enriched uranium to Centrus and for shipments in 2025.Centrus said TENEX is seeking the necessary export licences, in a timely manner. But there is no certainty whether they will be issued by the Russian authorities and if issued, whether they will be in a timely manner, it said.If TENEX is unable to secure export licences, it would affect Centrus’ ability to meet delivery obligations to customers, it said.(By Tanay Dhumal; Editing by Shilpi Majumdar)

Centrus says Russia canceled TENEX’s licence to export low-enriched uranium to US

Beijing – Iron ore futures rose for a second consecutive session to a one-week high on Tuesday, supported by a weaker dollar and the start of restocking by Chinese steelmakers to maintain production in January.The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended morning trade 3.05% higher at 776 yuan ($107.17) a metric ton. It hit the highest since Nov. 11 at 779.5 yuan a ton in the afternoon trading session.The benchmark December iron ore on the Singapore Exchange was 2.02% higher at $101.15 a ton, as of 0717 GMT, after touching the highest since Nov. 11 at $101.9 a ton.A weaker dollar USD/ makes greenback-priced commodities less expensive for buyers holding other currencies.“Data over the weekend showed that the issuance pace of local government debts has accelerated, indicating more capital available for property projects, boosting the ferrous market,” said Pei Hao, an analyst at international brokerage Freight Investor Services (FIS).“Moreover, $100 a ton is a key level that traders have been closely monitoring as once prices fall below the level, buying interest for seaborne cargoes picked up even amid high portside stocks.”Also underpinning prices of the key steelmaking ingredient is some mills kicking off buying seaborne cargoes to meet their production needs over the week-long Chinese New Year holiday break in January, said one Chinese steelmaker and one trader, both requesting anonymity as they are not authorized to speak to media.“Such buying will lend some support to prices, preventing them from falling sharply, but it’s far from sufficient for any strong price rebound given that portside stocks hovered at a pretty high level,” FIS’s Pei added.Other steelmaking ingredients on the DCE posted gains, with coking coal and coke up 1.69% and 1.46%, respectively.Most steel benchmarks on the Shanghai Futures Exchange gained ground. Rebar added 1.84%, hot-rolled coil rose 1.19%, wire rod climbed 0.59% and stainless steel advanced 0.57%.($1 = 7.2405 Chinese yuan)(Reporting by Amy Lv and Mei Mei Chu; Editing by Janane Venkatraman and Sherry Jacob-Phillips)

Iron ore price at one-week high on softer dollar, pre-holiday stocking

Japanese trading house Mitsui &amp; Co. has emerged as the highest bidder for a stake in First Quantum Minerals’ Zambian copper mines, according to people familiar with the matter.Mitsui submitted an offer that’s higher than a rival proposal from Saudi Arabia’s state-backed Manara Minerals Investment Co, the people said, asking not to be identified because the information is private. The Japanese company is considering buying a roughly 20% interest in First Quantum’s Sentinel and Kansanshi mines for about $2 billion, according to the people.Tokyo-based Mitsui is now seeking to negotiate terms of a deal with First Quantum, according to the people. There’s no certainty the deliberations will lead to a transaction, and First Quantum could sell a stake to another party or decide against pursuing a deal, the people said.Shares of First Quantum have gained about 67% in Toronto trading this year, giving it a market value of about C$15.1 billion ($10.8 billion). Zambia accounted for about half of First Quantum’s copper output and revenue last year and delivered more than $450 million in operating profit.A spokesperson for Mitsui didn’t immediately respond to queries, while representatives for First Quantum and Manara declined to comment.Copper mines are attracting interest from a range of investors because demand for the metal is expected to soar in coming years. Copper is crucial for the production of electric vehicles and renewable energy infrastructure, while there is a lack of new mines being built.

Mitsui said to be highest bidder for First Quantum’s stake in Zambia mines

President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.Ending the tax credit could have grave implications for an already stalling US EV transition. And yet representatives of Tesla – by far the nation’s biggest EV maker – have told a Trump-transition committee they support ending the subsidy, said the two sources, speaking on condition of anonymity.Tesla CEO Elon Musk, one of Trump’s biggest backers and the world’s richest person, said in July that killing the subsidy might slightly hurt Tesla sales but would be “devastating” to its US EV competitors, which include legacy automakers such as General Motors.Shares of Tesla ended nearly 6% lower at $311.18, while shares of smaller EV rival Rivian closed down 14% at $10.31. Lucid, another EV maker, tumbled 5% to $2.08.Repealing the subsidy, a signature measure of Democratic President Joe Biden’s Inflation Reduction Act (IRA), is being discussed in meetings by an energy-policy transition team led by billionaire oilman Harold Hamm, founder of Continental Resources, and Republican North Dakota Governor Doug Burgum, the two sources said.The group has met several times since Trump’s Nov. 5 election victory, including at his Florida Mar-a-Lago club, where Musk has also spent considerable time since the election.Representatives of Tesla and Ford did not respond to requests for comment. GM and Stellantis declined to comment.The Alliance for Automotive Innovation urged Congress in an Oct. 15 letter to retain the EV tax credits, calling them “critical to cementing the US as a global leader” in future auto manufacturing.US Energy Secretary Jennifer Granholm said on Friday that cancelling the credits would make the US less competitive.“It would be so counterproductive,” she told reporters at the COP29 climate conference in Baku when asked about the Reuters report. “You eliminate these credits, and what do you do? You end up ceding the territory to other countries, particularly China.”The Trump transition team did not comment on the fate of the EV tax credit but said in a statement that the president-elect would deliver on “promises he made on the campaign trail.”Trump campaigned on ending Biden’s “EV mandate,” without spelling out specific targeted policies. The energy-focused transition team has determined some of Biden’s clean-energy policies will be tough to end because they are popular and already funneling money to Republican-dominated states, the sources said.The team views the consumer EV credit as an easy target, believing that eliminating it would get broad consensus in a Republican-controlled Congress.Trump could use the cost savings from killing the credit to help pay for the extension of trillions of dollars in tax cuts from his first term that are set to expire soon, the two sources said. Congressional Republicans plan to take up the broader tax bill as one of their first actions.Energy transition team members expect the Republican Congress will deploy a legislative measure known as reconciliation to avoid relying on Democratic votes. Biden used the same tactic to pass the IRA.Killing EV tax credits is strongly supported by Hamm, a long-time Trump supporter, along with the broader oil-and-gas industry.Trump promised while campaigning to boost US oil production, even as it has hit record highs, and to roll back Biden’s clean-energy initiatives, which also include subsidies for wind and solar power and the mass production of hydrogen.Shares of South Korean battery makers tanked on Friday after the Reuters report. LG Energy Solution, a supplier for Tesla, General Motors and other automakers, fell as much as 10%, while Samsung SDI lost 9.6%Why Tesla could benefit Tesla has historically been the biggest beneficiary of consumer EV subsidies passed by Biden and previous administrations. It now may stand to gain from killing the incentive because that could hurt rising EV competitors more than Tesla.Musk himself pointed out as much in a July earnings call, saying losing the subsidy under Trump would “probably benefit Tesla” in the long term.Tesla sold just under half of all US EVs in the third quarter, according to data from Cox Automotive. Other automakers with notable EV sales such as GM, Ford and Hyundai, individually trail far behind. But Tesla’s US EV rivals collectively have steadily eroded its market share, which exceeded 80% in the first quarter of 2020.Nicholas Mersch, portfolio manager at Purpose Investments, a Tesla investor, said Tesla can withstand a potential sales hit from losing subsidies because the automaker’s “engineering and manufacturing prowess” lowers its costs.“Getting rid of the subsidy means that competitors can’t catch up and won’t be able to compete on a cost basis,” Mersch said.Musk and Tesla also stand to gain hugely from Biden policies that Trump will likely leave in place or strengthen – like steep trade barriers blocking imports of Chinese EVs, including a 100% tariff.Chinese EV makers led by Tesla rival BYD have rocketed past the rest of the industry, with the help of generous government subsidies. Electric vehicles and hybrids have accounted for more than half of all cars sold in recent months in China, the world’s largest auto market.Tesla is a major player in China but, like all foreign automakers, has been recently losing market share to homegrown players that sell EVs for as little as $10,000.Tesla “can’t beat Chinese EVs,” Mersch said, but with Trump’s help may be able to keep them out of the US market.Mike Murphy, a longtime Republican strategist who runs the EV Politics Project – an advocacy group seeking bipartisan EV support – described ending the subsidy as a “Tesla first, everybody else second” policy.He described the move as “really bad for American automakers” trying to catch up to highly subsidized Chinese EV industry.“The Trump administration is proving they have absolutely no interest in helping the US auto industry survive the coming Chinese invasion,” he said.Why Detroit needs EV subsidiesAutomakers in the US market have been bracing for automotive-policy changes under Trump. Some could provide greater flexibility to build more gas-powered SUVs and trucks that generate big profits for the Detroit Three – General Motors, Ford and Jeep parent Stellantis.But other changes, like losing the EV tax credit, could cripple their nascent efforts to transition to electric vehicles.Losing EV subsidies would make it tougher for Tesla’s struggling rivals to achieve profitability on those vehicles. GM, Ford, Hyundai and others are still ramping up EV production and scrambling to cut manufacturing costs.Ford, which expects to record a $5 billion loss on its EV and software operations this year, has previously relied on EV tax credits to boost demand from price-conscious consumers.Yet even with the credits, demand for Ford’s F-150 Lightning electric pickup has faltered, leading Ford to idle the truck’s production through the year-end.The United Auto Workers labor union, which represents workers at the Detroit Three – but not Tesla – has supported Biden’s pro-EV policies, including the $7,500 incentive. Last month, UAW president Shawn Fain slammed Trump’s threats to repeal the policies, saying “hundreds of thousands” of auto-industry jobs were at stake.GM, which touts plans to boost EV production, previously said it had received $800 million in separate EV manufacturing credits this year – also enacted in Biden’s IRA legislation – and expected that figure to grow.GM recently said it planned to slash its annual EV losses next year by between $2 billion and $4 billion, which would be more difficult without the tax credit.In a push to further cut costs around EVs, GM and Hyundai in September announced a non-binding memorandum of understanding to work together.(By Jarrett Renshaw, Chris Kirkham, Nora Eckert, David Shepardson, Hyunjoo Jin and Valerie Volcovici; Editing by Brian Thevenot, Anna Driver and Lincoln Feast)

Trump’s transition team aims to kill Biden EV tax credit

Indonesia’s imports of nickel ore surged to 9.3 million metric tons in the first ten months of 2024, more than 50 times the corresponding figure of 161,917 tons for the year earlier period, the statistics bureau said on Friday.The world’s biggest nickel producer has bought record volumes of the ore from the Philippines since April as smelter demand rose and Jakarta delayed the issue of mining quotas with heavy rains hurting mining activity, Reuters reported.Alexander Barus, chief executive officer at nickel-focused Indonesia Morowali Industrial Park, said the imports were ‘a rational business decision’ made by owners and management of domestic smelters.“Domestic ore supply is lower than demand that reached 200 million tons per year for all specifications. Maybe because of the delay in nickel RKAB issuance,” Barus said, referring to the quotas.Imports of nickel ore during January to October mostly came from the Philippines and China, for a total value of $406 million, up from $7.1 million a year earlier.Indonesia changed the way it issued mining quotas this year, which affected nearly all miners in the resource-rich country. In June, authorities said they had issued 240 million metric tons of output quotas for the next three years.However, ore shortages seemed to have continued later into the year. Top nickel producer China’s Tsingshan has cut its Indonesia ferronickel output because of ore shortage, two sources with knowledge of the matter told Reuters in September.Indonesian authorities have defended the nickel ore quota, saying volumes approved were more than enough for smelters.(By Bernadette Christina and Stefanno Sulaiman; Editing by Gayatri Suroyo, Clarence Fernandez and Kirsten Donovan)

Indonesia’s Jan-Oct nickel ore imports surge by 50 times from year ago

Australia’s Resolute Mining said on Monday that it would pay $160 million to Mali’s government to help resolve a tax dispute after the West African country detained its CEO Terence Holohan and two other employees this month.Resolute has made an initial payment of $80 million as part of the settlement from existing cash reserves and will make future payments of about $80 million in the coming months from existing liquidity sources, it said in a statement.Resolute shares were down as much as 14.3% in early trading on Monday to A$0.345, the lowest since March 1.The detained employees were in Mali’s capital Bamako to hold discussions with mining and tax authorities regarding general activities related to the company’s business practices, the company said last week.Resolute is currently working with the Mali government to release the detained employees, who remain “safe and well” and are receiving support from the UK and international embassies and consulates, the miner said on Monday.Mali is one of Africa’s top gold producers and the detention of mining company employees, which have also included some senior local staff at Canada’s Barrick Gold, is becoming part of a pattern as the government seeks to extract more income from the sector.Resolute’s gold mine in Syama, Mali – one of its two operational mines – contributed nearly two-thirds of its annual sales of 329,061 ounces in 2023. Resolute owns an 80% stake in the project, while Mali’s government holds the rest.“The company notes that operations on site continue as normal and have not been impacted,” Resolute said in its statement.(By Sherin Sunny; Editing by Jamie Freed)

Resolute Mining says it will pay Mali $160 million in tax dispute

Canadian dollar weakens on rising global risk aversion

Investors lift US dollar, focus on Federal Reserve outlook

FTSE 100 edges down after hot inflation data; Sage soars

Fed governors stake out competing views of inflation risk

Fed's Bowman calls for cautious approach on interest rates

Dollar resumes climb after three-day fall as investors eye Fed

Gold gains for third straight day on escalating Russia-Ukraine tensions

Fed's Cook: More cuts likely appropriate as disinflation expected to continue

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Coin	Price	1h%	24h%	7d%	Volume (24h)	Market Cap
Bitcoin BTC	$97,804.55	1.17	6.06	8.71	47.39B	1.93T
Ethereum ETH	$3,133.36	1.02	0.87	-2.84	18.04B	377.33B
Tether USDT	$1.00	0.00	0.00	0.00	1.58B	135.57B
XRP XRP	$1.12	3.12	4.37	61.19	4.11B	112.20B
Binance Coin BNB	$612.60	1.51	0.20	-2.58	898.67M	87.01B
USD Coin USDC	$1.00	0.00	0.00	0.00	2.89B	37.86B
Solana SOL	$240.80	1.93	2.99	9.79	5.04B	141.78B
Cardano ADA	$0.80	2.78	0.24	39.11	2.30B	35.95B
Dogecoin DOGE	$0.39	3.21	0.75	-1.09	5.76B	57.21B
Tron TRX	$0.20	0.97	0.20	10.58	418.78M	17.11B