Battery-metal producers warned of softer prices in this season's quarterlies, said mining audiences manager Michael McCrae.
On Friday McCrae recorded Kitco Roundtable with correspondent Paul Harris and Revival Gold CEO Hugh Agro.
In Eramet's Q3 released yesterday the company said that it sees a "weakening of demand and prices." Eramet is a manganese, nickel, mineral sands, lithium, and cobalt miner. Australia-based Lynas also reported its Q3, stating that rare earth prices were "quite volatile."
General negative market sentiment pervades. Goldman Sachs CEO David Solomon said this week that it is likely both the U.S and Europe will have a recession as the Federal Reserve continues to tighten monetary policy — with the projected 75-basis-point hike next week and another oversized increase in December. So far, the Fed has raised rates by 300 basis points this year.
Earlier this week stock markets crashed in Hong Kong, Shanghai and Shenzhen. Xi Jinping cemented his leadership last weekend, which markets greeted with a Bronx cheer. The Hang Seng Index hit a 13-year low on Monday. It is the world's top index loser in 2022.
Revival Gold is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. Engineering work has been initiated on a Preliminary Feasibility Study ("PFS") for the potential restart of heap leach operations
Kitco Roundtable was sponsored by Snowline Gold, ticker SGD on the Canadian Securities Exchange.
