Latest news with #metals
Yahoo
9 minutes ago
- Business
- Yahoo
Silver's hot streak gathers pace; market at highest since 2011
By Polina Devitt and Sherin Elizabeth Varghese (Reuters) -Silver prices surged to their highest in almost 14 years on Wednesday, aided by worries about U.S. tariff policy, signs of tightness in the spot market and growing investor interest in alternatives to gold. Spot silver was up 0.3% at $39.40 per troy ounce as of 1354 GMT, its highest level since September 2011. Silver, both a precious and industrial metal, is up 36% this year, outperforming gold's 31% growth and coming within a whisker of the key $40-per-ounce mark. The metal hit a record high of $49 in 2011. U.S. President Donald Trump's plan to impose 50% import tariffs on copper from August 1 and the U.S. import tariffs for Mexico widened the premium of the U.S. futures for silver and other metals against the London benchmarks in July, leading to a growth in lease rates in the spot market. Gold, silver, platinum and palladium were excluded from Trump's April reciprocal tariffs, but "the broader market isn't trading it that way and is taking a page out of Comex copper's handbook", Nicky Shiels, head of metals strategy at MKS PAMP. Spot silver prices may hit $42 per ounce this year, according to Shiels. Analysts also noted that industrial demand for silver, heading for the fifth year of structural market deficit, remains solid, while investment demand is gaining momentum as a more affordable alternative to gold. Silver's recent rally has improved its ratio with gold to the strongest level in seven months. It currently takes 87 ounces of silver to buy an ounce of gold, compared with 105 ounces in April. "It is the copper tariff that sent some spinning off at odd tangents that captured the other metals," said a precious metal trader based in London, adding that the lease rates in the spot market should fall once the borrowing activity caused by the U.S. tariff fears subside. The current momentum could be hot enough to take silver over $40/oz in the short term, said Nitesh Shah, commodity strategist at WisdomTree. "But with positioning stretched, we would not be surprised if it fell back to $35/oz, before it starts its march higher to $45/oz next year," Shah added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
11 minutes ago
- Business
- Reuters
Silver's hot streak gathers pace; market at highest since 2011
July 23 (Reuters) - Silver prices surged to their highest in almost 14 years on Wednesday, aided by worries about U.S. tariff policy, signs of tightness in the spot market and growing investor interest in alternatives to gold. Spot silver was up 0.3% at $39.40 per troy ounce as of 1354 GMT, its highest level since September 2011. Silver, both a precious and industrial metal, is up 36% this year, outperforming gold's 31% growth and coming within a whisker of the key $40-per-ounce mark. The metal hit a record high of $49 in 2011. U.S. President Donald Trump's plan to impose 50% import tariffs on copper from August 1 and the U.S. import tariffs for Mexico widened the premium of the U.S. futures for silver and other metals against the London benchmarks in July, leading to a growth in lease rates in the spot market. Gold, silver, platinum and palladium were excluded from Trump's April reciprocal tariffs, but "the broader market isn't trading it that way and is taking a page out of Comex copper's handbook", Nicky Shiels, head of metals strategy at MKS PAMP. Spot silver prices may hit $42 per ounce this year, according to Shiels. Analysts also noted that industrial demand for silver, heading for the fifth year of structural market deficit, remains solid, while investment demand is gaining momentum as a more affordable alternative to gold. Silver's recent rally has improved its ratio with gold to the strongest level in seven months. It currently takes 87 ounces of silver to buy an ounce of gold , compared with 105 ounces in April. "It is the copper tariff that sent some spinning off at odd tangents that captured the other metals," said a precious metal trader based in London, adding that the lease rates in the spot market should fall once the borrowing activity caused by the U.S. tariff fears subside. The current momentum could be hot enough to take silver over $40/oz in the short term, said Nitesh Shah, commodity strategist at WisdomTree. "But with positioning stretched, we would not be surprised if it fell back to $35/oz, before it starts its march higher to $45/oz next year," Shah added.
Yahoo
a day ago
- Business
- Yahoo
BMO Capital Markets lead financial adviser in metals & mining M&A rankings for H1 2025
BMO Capital Markets leads the mergers and acquisitions (M&A) rankings for financial advisers in the metals and mining sector, both by deal value and volume, for the first half of 2025 (H1 2025), according to the latest league table published by GlobalData, a data and analytics company. As per GlobalData's Deals Database, BMO Capital Markets secured its top spot by advising on seven transactions, which collectively amounted to $4.1bn. In the value category, Macquarie held second position, advising on deals worth $2.3bn. The third place was a tie between GenCap Mining Advisory and National Bank of Canada, with each advising on deals valued at $2.1bn. In terms of deal volume, Canaccord Genuity Group took second spot, having advised on four deals. It was followed by a trio of companies – INFOR Financial, Evans & Evans and SP Angel Corporate Finance – each also contributing to four deals. GlobalData lead analyst Aurojyoti Bose said: 'There was an year-on-year (YoY) improvement in the total volume and value of deals advised by BMO Capital Markets in H1 2025 as well as its rankings by these metrics. However, the growth was more prominent in terms of value. 'BMO Capital Markets' ranking by volume improved from the third position to the top position. Meanwhile, its ranking in terms of value jumped from 18th position to the top position. It is also noteworthy that the company registered more than a six-fold jump in the total value of deals advised by it in H1 2025.' GlobalData's league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names. To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers. "BMO Capital Markets lead financial adviser in metals & mining M&A rankings for H1 2025" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Clayton UTZ, Cassels Brock & Blackwell lead metals and mining M&A legal advisers rankings in H1 2025
Clayton UTZ and Cassels Brock & Blackwell have emerged as the leading mergers and acquisitions (M&A) legal advisers by value and volume, respectively, in the metals and mining sector during the first half of 2025 (H1 2025), according to the latest league table published by GlobalData, a data and analytics company. As per GlobalData's Deals Database, Clayton UTZ secured the top spot with $5.5bn in advised deals. King & Wood Mallesons followed closely by advising on $5.3bn worth of deals, while Herbert Smith Freehills, Blake Cassels & Graydon and Borden Ladner Gervais advised on $3.6bn, $3.3bn and $2.5bn worth of deals, respectively. GlobalData lead analyst Aurojyoti Bose said: 'Clayton UTZ was not among the top ten by value in H1 2024. However, its involvement in the $5.3bn deal for the acquisition of 40% stake in Rhodes Ridge Iron Ore Project by Mitsui in February this year paved the way for it to top the chart by value in H1 2025. 'Meanwhile, Cassels Brock & Blackwell's ranking by volume improved from the second position to the top position. Apart from leading by volume, it also held the eighth position in terms of value in H1 2025.' Cassels Brock & Blackwell led by deal volume, with advisory on eight transactions. In terms of deal volume, Fasken Martineau DuMoulin came second in the ranking with six deals. Blake Cassels & Graydon with five, Stikeman Elliott with four and Herbert Smith Freehills with three deals rounded out the top five advisory companies by volume. GlobalData's league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names. To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers. "Clayton UTZ, Cassels Brock & Blackwell lead metals and mining M&A legal advisers rankings in H1 2025" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Zawya
a day ago
- Business
- Zawya
South Africa's Industrial Development Corporation (IDC) to Spotlight Energy, Mining Finance Solutions at African Mining Week (AMW) 2025
Thabiso Sekano, Head of Mining and Metals at the Industrial Development Corporation (IDC) of South Africa, will join African Mining Week (AMW) as a featured speaker on the high-level panel, The Investor Perspective – Financing Africa's Mineral Industrialization. He is expected to share insights into innovative financing mechanisms that are accelerating project development across Africa's mining and energy value chains. Sekano will highlight the IDC's instrumental role in advancing South Africa's mining sector, particularly its platinum group metals (PGMs), which represent over 70% of global reserves. Among the IDC's recent investments, in June 2025, the agency approved R622 million in funding to Canadian firm Theta Gold Mines to develop multiple sites under the TGME Project in Mpumalanga Province. This seven-year facility is expected to extract 1.24 million ounces of gold, creating jobs and contributing to national revenue growth. AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ In April 2025, the IDC approved a further R1.6 billion facility to support the operational stability of ArcelorMittal South Africa, helping preserve jobs and strengthen South Africa's position as a top global steel producer. Beyond South Africa, Sekano will spotlight the IDC's growing regional footprint. The corporation is considering a $16 million loan to Giyani Metals to advance the manganese project in Botswana – an important development aimed at boosting supply chains for lithium-ion batteries and electric vehicles. As African governments increasingly focus on formalizing small-scale mining and empowering junior miners, AMW will also offer a platform for Sekano to discuss the IDC's initiatives targeting these groups. In 2024, the IDC launched a R400 million Junior Mining Exploration Fund in collaboration with South Africa's Department of Mineral and Petroleum Resources and the Council for Geoscience, aimed at addressing funding constraints that limit entry and scale-up of junior mining companies. In addition, the IDC is driving synergies between the mining and energy sectors to foster energy resilience and decarbonization. In June 2025, it announced that four utility-scale energy projects it financed are now delivering a combined 219 MW to the national grid – powering mining operations and creating 442 annualized jobs. The agency also signed a EUR 17 million agreement with Germany's KfW to support green hydrogen projects in South Africa, further enhancing the role of PGMs in electrolyzer technology. In March 2025, the IDC raised R2 billion through a sustainable bond issuance to scale up investments across both mining and energy. At AMW 2025, Sekano will unpack these developments and more, reinforcing the IDC's commitment to sustainable, inclusive growth in Africa's extractive and energy sectors. Distributed by APO Group on behalf of Energy Capital&Power.
