Gold was the shinning light amongst global market turmoil on Thursday, January 7th.
Gold jumped above $US 1100, jumping as high as $1109.90 an ounce on safe haven buying. Given the drop in the Australian dollar to 70.1c, the local spot gold price is $A1580.30/oz this morning.
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s coal market will continue. The production levels proposed by large coal miners are quite different from those filed by small and medium coal miners, who mostly plan to reduce production on account of low demand in the world’s coal market.
BASE metals rallied, iron ore was back over $US40 a ton, and gold regained some ground in a happy day for miners. Lead was the market leader, up 4.6% to $US1689 a ton, followed by copper, which rose by 3.1% to $4685/t. Other metals in London jumped by more than 1% each.
The Article, ”Indonesia’s Nationalism”, published by Bloomberg on Oct. 19, state that the “rising tide of economic nationalism is threatening to undo the formula that for many years brought much-needed investment into Indonesia.”
A new process to clean mine tailings water, which cuts the process from years to hours, has been discovered. A University of Florida researcher has uncovered a way to process mining effluent water that has been used in minerals processing, dust suppression, slurry transport, and general tailings.
Analysts have forecast mining’s commodities return by mid-next year, going against the market grain.
Van Eck global commodity strategist Roland Morris believes the resources industry will begin its recovery mid next year as the market reacts to reactions take to address oversupply and waning Chinese demand.
Reduce Workplace Injuries and Improve Productivity
While “wearables” – sensors and personal monitoring systems that indicate when a worker is being exposed to unhealthy doses of hazardous substances – are not new, they do continue to evolve and improve. A prototype recently showcased by Honeywell Industrial Safety and Intel gives a whole new meaning to technology when it comes to worker safety and productivity.