Azeri state oil fund SOFAZ said on Thursday that it plans to increase the share of gold in its holdings to 10 percent this year from 5 percent at the end of 2018. SOFAZ, which has been buying gold since 2012, holds the former Soviet country’s proceeds from oil contracts, oil and gas sales, transit ... Azeri state fund to boost share of gold in its holdings this year
MINEX Forum | January 11, 2019 Azeri state oil fund SOFAZ said on Thursday that it plans to increase the share of gold in its holdings to 10 percent this year from 5 percent at the end of 2018. SOFAZ, which has been buying gold since 2012, holds the former Soviet country’s proceeds from oil contracts, oil and gas sales, transit ... 
It all started so well in 2018 for investors in European metal and mining stocks, as copper led a base-metals rally to multi-year highs in a time before trade turmoil gripped markets. But, as the year closes, the sector index is languishing about 25 percent below its June peak. Fractious rhetoric between Washington and Beijing ... 
Germany and Bolivia today sealed a partnership for the industrial use of lithium , a key component in the batteries that power electric cars and cell phones. ACI Systems will work with state-owned Bolivian Lithium Deposits (YLB) on installing four lithium plants in the Salar de Uyuni salt flats, which hold the world’s second-largest lithium ... 
The rally in uranium prices, which began in April this year amid production cutbacks in Kazakhstan and Canada, is set to continue as inventories of the nuclear material decline for the first time in nearly a decade. Production at Kazakhstan state-owned uranium miner Kazatomprom, responsible for more than a quarter of global output, was 19,600 ... 
Palladium outshines gold for first time in 16 years Palladium is more valuable than gold for the first time since 2002, with prices soaring by around 50 percent in less than four months to record levels — just as gold failed to capitalize on some seemingly bullish scenarios. A sustained supply deficit coupled with robust ... 
The Russian government could buy up to 50,000 tonnes of aluminium for the state reserve, a government decree showed on Wednesday, in a move that would support sanctioned Russian aluminium producer Rusal. The decree, dated Nov. 26, allocated up to 10 billion roubles ($149 million) for the plan and is the initiative of Russian tycoon ... 
The Central Bank of Russia bought over 92 tons of gold in the three months to the end of September breaking the Soviet peak of 2000 tons in gold reserves seen in 1941, according to a new report by the World Gold Council (WGC). Russia reportedly purchased more gold than any other country in the ... 
Mongolia is looking to list up to 30% of the state-owned company that owns the massive Tavan Tolgoi coal mine on the New York and Hong Kong stock exchanges in 2019, the country’s mining minister said on Thursday. Mining Minister Sumiyabazar Dolgorsuren said the government is aiming to carry out the initial public offering of ... 
One in every twenty Europeans works in the automotive industry and the European Union believes that unless it catches up on battery technology, those jobs are at risk. That’s why the group is planning to allow state aid for electric battery research and will offer billions to companies willing to build giant plants, it said ... 
One of the surprise packets in the commodity space this year has been uranium, with the spot price surging 30 percent in the past four months, a stellar performance that may not be justified by current fundamentals. Uranium stood at $26 per pound on Aug. 31, up from the low so far this year of ... 
President Vladimir Putin said on Monday that Russian energy companies should expand their export infrastructure and seek new markets for their products, including coal, with China seen as particularly important. Speaking at a meeting with government officials and top managers of energy companies, Putin also said rivalry on global energy markets has heated up. “The ... 
China, India, Brazil, Mexico, Russia, Indonesia, and Turkey will be leading the world’s mineral demand in the coming decades, Owen Hegarty, Executive Chairman of Australian private equity manager EMR Capital, predicts. Speaking at the Paydirt 2018 Africa Down Under mining conference taking place in Perth, Hegarty said that the new top seven economies will lead ...