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Australia’s economy is largely based on its natural resources, with the minerals sector making the greatest contribution to the nation’s exports at 62.5 percent. What are the top 5 natural resources in Australia in terms of export value?Five of Australia’s states and territories rank in the top 20 mining jurisdictions in the world for investment attractiveness, according to the Fraser Institute’s latest annual survey of mining companies: Western Australia (fourth), Northern Territory (8th), Queensland (13th) and Southern Australia (19th).These mining jurisdictions demonstrate a high level of investment attractiveness mainly due to their mineral-rich geology, solid infrastructure, stellar economic environment and government support for the resources industry at both the federal and state level.Australia exports a wide range of important mineral resources, including precious metal gold, base metals such as copper, iron ore, aluminum and nickel, and energy resources oil, natural gas and coal. In recent years, lithium has also become a major mineral export for Australia.Despite widespread wildfires and COVID-19 causing business disruptions across the country, during the 2022 to 2023 period, Australia mineral exports reached a record high of AU$466 billion worth of resources and energy fuels. For the 2023/2024 period, that figure fell to AU$417 billion, according to the Department of Industry, Science and Resources, which is forecasting a further decline to AU$366 billion for 2024-2025. "This outlook reflects weaker world demand growth and rising commodity supply — that lowers global prices — and a predicted rise in the Australian dollar against the US dollar," notes Export Finance.Read on for a breakdown of Australia's five most valuable natural mineral resource exports, iron ore, coal, liquified natural gas, gold and lithium. Combined, they brought in the vast majority of Australia’s export earnings in the 2022/2023 financial year, as per the data from the Department of Industry, Science and Resources. 1. Iron ore Australia is the king of the iron game. US Geological Survey (USGS) information shows it accounted for 38.4 percent of global iron ore production in 2023, well ahead of Brazil, which came in second place. The nation also ranks as the world’s largest exporter of iron ore.Iron is the definitive base metal, and is used in everything from infrastructure to transportation to advanced technology — meaning Australia and its many iron ore mines in Western Australia have enjoyed a mighty run of economic prosperity as China has leaned into its push for industrialization.The Department of Industry, Science and Resources’ data from 2022/2023 shows that iron ore accounted for AU$129.1 billion of export value in that period, and is forecasted to bring in AU$136.7 billion for 2023/2024. Weaker demand out of China, and globally, is likely to dampen demand for iron ore going forward, which led the department to project iron ore export value of AU$82.8 billion for the 2028/2029 financial period. 2. Coal While more western nations around the world are turning away from coal, in Australia, the sooty black rock is a source of incredible wealth. In terms of Australia’s resource and energy exports, during the 2022/2023 financial period metallurgical coal and thermal coal accounted for an export value of AU$64.4 billion and AU$68.1 billion, respectively. Australia hosts coal deposits across the country, with a number of new mines under construction and expansion projects underway. However, softer demand for coal going forward is likely to result in a significant decrease in Australia's coal exports over the coming years as the transition to renewable energy continues and financing for new coal projects dries up. During the 2023/2024 period, export values for both metallurgical and thermal coal are expected to drop to AU$55.7 billion and AU$36.3 billion, respectively, and fall even more sharply by 2028/2029 to AU$35.2 billion and AU$21.2 billion. 3. Liquified natural gas Liquified natural gas (LNG) is Australia’s third most valuable resource export, earning more than AU$95.9 billion for the economy in the 2022/2023 financial period. The Department of Industry, Science and Resources expects this figure to decline to AU$71.5 billion for 2023/2024.The island continent is home to 14 different basins that yield natural gas. The country has significant natural gas reserves, with much of it locked up in coal seams that require unconventional drilling. Most of Australia’s natural gas production occurs offshore in the northwest, which has seen an increase in large development projects over the past few years.Moving forward, several factors are expected to place downward pressure on Australia's LNG export values, including less production from maturing wells alongside a drop in investment; declining use of natural gas as an energy source in favour of renewables; lower natural gas prices; and the rising prominence of US LNG in the global export market. All in, the department projects the value of Australia's LNG exports will fall to AU$44.8 billion in the 2028/2029 financial period. 4. Gold Gold accounted for AU$25.4 billion in export value in the 2022/2023 financial year in Australia, earning its place as the fourth most valuable mineral export. The Department of Industry, Science and Resources expects this figure to rise to AU$27.9 billion for 2023/2024, before falling to a projected AU$19.7 billion by 2028/2029. According to the USGS, Australia produced 310 tonnes of the yellow metal in 2023, tying it with Russia as the second largest gold-producing nations, behind China.Much of Australia’s wealth is founded on gold, with a number of gold rushes triggered in the mid-1800s that supercharged the nation’s development and set it down its path of prosperity through mining. Today, most of the top-producing gold mines in the country are located in Western Australia. 5. Lithium Lithium comes in as the fifth most valuable mineral export from Australia, earning AU$20.1 billion in 2022/2023. The country is the world's largest producer of the energy metal, putting out 86,000 MT of lithium in 2023, and hosts the second largest lithium reserves at a JORC-compliant 4.8 million MT.Most of Australia's lithium resources are located in Western Australia, where there are several hard-rock deposits. Lithium mined in the country mainly originates from spodumene, though it can be found in lepidolite as well. Global economic pressures on consumers have led to shrinking demand for electric vehicles, and in turn, lithium demand and prices are on the decline. The resulting overhang in supply has led to the curtailment of lithium production from Australia's major lithium operations, including Greenbushes, owned by joint venture partners Tianqi Lithium (SZSE:002466), IGO (ASX:IGO,OTC Pink:IPGDF) and Albemarle (NYSE:ALB).Looking forward, for the 2023/2024 period, the Department of Industry, Science and Resources is forecasting AU$11.3 billion in export value for lithium, and projecting that figure to come in at AU$9.1 billion in 2028/2029. Other mineral resources While the five resources above represent the most valuable mineral exports to the Australian economy, the country sits on significant reserves of almost every mineral you can find on the planet. Other major commodities of significant value to the Australian economy are copper, aluminum, oil, nickel and zinc. Wondering where uranium and rare earths are on this list? Despite having 28 percent of the world’s reserves, uranium export value came in at only AU$844 million for the 2022/2023 period as the country only has two producing uranium mines for the period, Four Mile and Olympic Dam. As uranium demand increases and a new mine supply comes online, that figure is projected to jump to AU$1.2 billion in 2023/2024 and AU$2 billion by 2028/2029. While Australia also ranks as the fourth largest producer of rare earths globally, rare earths production did not rate as a major contributor to the Australian economy. This is an updated version of an article first published by the Investing News Network in 2019.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas hit a new trend high of 2.80 on Tuesday, thereby completing a 1.21 point or 76.8% rally from the April 25 low at 1.58. The new high has some significance as it is the completion of a 250% extension of a rising ABCD pattern. It shows the CD leg of the pa

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FXEmpire.com - Gold Gold 210524 Daily Chart Gold is swinging between gains and losses as traders take profits near historic highs.

FXEmpire.com - Natural Gas Technical Analysis You can see right off the bat here on the four hour chart, we’ve seen some pretty negative action. That shouldn’t be a huge surprise because quite frankly, we’ve gone straight up there. The question is whether or not this a little bit

FXEmpire.com - Natural Gas Market Faces Potential Correction U.S. natural gas prices are trading lower on Tuesday, reacting technically to the 200-day moving average test. This price action indicates a round of profit-taking following a significant month-long rally. A lower close

FXEmpire.com - On Tuesday (May 21), producer prices from Germany warranted investor attention amidst rising investor bets on a June ECB rate cut.

FXEmpire.com - Market Overview Oil prices declined in early Asian trading on Tuesday, with expectations of sustained U.S. inflation and higher interest rates dampening consum

Global central banks own about 17 percent of all the gold ever mined, with reserves topping 36,699 metric tons (MT) as of year-end 2023. They acquired the vast majority in the last 14 years after becoming net buyers of the metal in 2010.Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. Increased concerns over another global financial crisis have as expected led central banks once again to build up their gold reserves. In a mid-2023 survey, the World Gold Council (WGC) said that 70 percent of the central bankers it polled expect global gold reserves to increase over the next 12 months. Nearly three-quarters of respondents cited the precious metal’s “long-term store of value” as a guiding factor in gold purchases.Central banks added 1,037 MT of gold to their vaults in 2023, the second year in a row that gold purchases in this segment surpassed the 1,000 MT mark. In the first quarter of 2024, central banks picked up nearly another record 290 MT of gold, reports the WGC. Chart via the WGC.Central bank gold buying expected to increase according to WGC survey.Twenty-four percent of the WGC's survey respondents indicated plans to grow their gold reserves, down just 1 percent from the previous year. Three percent reported their institution is planning to decrease its gold holdings, a break from the previous two years, when no respondents indicated such a move.The WGC believes that central banks will continue to be net purchasers in 2024, "even if a third consecutive year of ~1,000t net purchases may be unlikely." ​Which central banks hold the most gold? Global central bank gold reserves topped 36,699 metric tons at the end of 2023, roughly 17 percent of all the gold ever mined. Read on to find out the 10 top countries by central bank gold holdings, as per data from the WGC, including recent Q1 2024 reports. 1. United States 8,133.46 MTWhen it comes to the largest gold depository in the world, the American central bank is number one with 8,133.46 MT. The total value of the US central bank gold reserves is more than US$630 billion at a US$2,200 per ounce gold price. A large percentage of US gold is held in “deep storage” in Denver, Fort Knox and West Point. As the US Treasury explains, deep storage is “that portion of the US Government-owned gold bullion reserve which the Mint secures in sealed vaults that are examined annually by the Treasury Department’s Office of the Inspector General and consists primarily of gold bars.”The rest of US-owned reserves are held as working stock, which the country's mint uses as raw material to mint congressionally authorized coins. 2. Germany 3,352.65 MTThe Bundesbank, Germany’s central bank, currently owns 3,352.65 MT of gold, which is less than half the amount amassed by the US. Like many of the central banks on this list, the German national bank stores over half of its stock in foreign locations in New York, London and France.The Bundesbank’s foreign gold reserves came into question in 2012, when the German Federal Court of Auditors, the Bundesrechnungshof, was openly critical of the Bundesbank’s gold auditing.In response, the German bank issued a public statement defending the security of foreign banks. Privately, the Bundesbank then began the arduous process of repatriating its gold stock back to German soil. By 2016, more than 583 MT had been transferred back to Germany.Nearly half of Germany’s gold holdings are stored in Frankfurt, while more than a third are in New York, an eighth of its holdings are in London, and a miniscule amount are held in in Paris. 3. Italy 2,451.84 MTBanca d’Italia, the national bank of Italy, began amassing its gold in 1893, when three separate financial institutions merged into one. From there, its 78 MT slowly grew into the 2,451.84 MT the country now owns.Like Germany, Italy stores parts of its reserves offshore. In total, 141.2 MT are located in the UK, 149.3 are in Switzerland and 1,061 are kept in the US Federal Reserve. Italy houses 1,100 MT of gold domestically. 4. France 2,436.97 MTThe Banque de France keeps all 2,436.97 MT of its gold reserves on hand. The precious metal is stored in the bank’s secure underground vault, dubbed La Souterraine; it is located 27 meters below street level.La Souterraine’s gold vaults are one of the four designated gold depositories of the International Monetary Fund.According to Investopedia, the collapse of the Bretton Woods gold standard system was in part due to former French President Charles de Gaulle, who “called the U.S. bluff and began actually trading dollars in for gold from the Fort Knox reserves.” At the time, US President Richard Nixon “was forced to take the U.S. off the gold standard, ending the dollar's automatic convertibility into gold.” 5. Russia 2,332.74 MTThe Bank of Russia is the official central bank of the Russian Federation and owns 2,332.74 MT of gold. Like France, Russia’s central bank has opted to store all its physical gold domestically. The Bank of Russia stores two-thirds of its gold reserves in a bank building in Moscow, and the remaining one-third in Saint Petersburg.The majority of the yellow metal is in the form of large, variable-weight standard gold bars weighing between 10 and 14 kilograms. There are also smaller bars on site weighing as much as 1 kilogram each.Russia, which is the third largest gold producer by country, has been a steady purchaser of the precious metal since roughly 2007, with sales ramping up significantly between 2015 and 2020. However, Russia’s refineries were banned from selling gold bullion into the London market following the country’s invasion of Ukraine. Sanctions by the west also include a freeze on about half of Russia’s gold reserves.In early 2022, Russia tied its the currency the ruble to the yellow metal. "The plan was to shift the currency away from a pegged value and into the gold standard itself so the ruble would become a credible gold substitute at a fixed rate," according to Robert Huish, an Associate Professor in International Development Studies at Dalhousie University. 6. China 2,262.39 MTThe central bank for Mainland China is the People’s Bank of China (PBoC), located in Beijing. The national financial institute stores 2,262.39 MT of gold, most which has been purchased since 2000. In 2001, the PBoC had 400 MT of gold in reserve, but in just a little more than two decades that total has climbed by 459 percent.The PBoC issues the Panda gold coin, which was first created in 1982. The Panda coin is now one of the top five bullion coins issued by a central bank. It is among the ranks of the American Eagle, Canadian Maple Leaf, South African Krugerrand and Australian Gold Nugget.The PBoC was the top gold buyer out the world's central banks for the first quarter of 2024, purchasing another 27 MT. March 2024 marked the 17th consecutive month of gold buying for China's central bank. 7. Switzerland 1,040 MTHolding the seventh largest central bank gold reserves is the Swiss National Bank. Its 1,040 MT of gold are owned by the state of Switzerland, but the central bank manages and maintains the reserve.After years of opaqueness regarding the country’s golden treasure trove, the Swiss Gold Initiative, or Save our Swiss Gold campaign, was launched in 2011.The publicity culminated in a national referendum in 2014, asking citizens to vote on three proposals. The first was a mandate for all reserve gold to be held physically in Switzerland. The other two dealt with the central bank’s ability to sell its gold reserves, along with a decree that 20 percent of the Swiss bank’s assets be held in gold.The referendum was unsuccessful, but did prompt the bank to be more transparent. In a 2013 release, the central bank reported that 70 percent of its gold reserve was held domestically, 20 percent was located at the Bank of England and 10 percent was stored with the Bank of Canada. 8. Japan 845.97 MTPublic information about the Bank of Japan’s gold reserves is hard to come by. In 2000, the island nation was holding approximately 753 MT of the yellow metal. By 2004, the Bank of Japan’s gold store had grown to 765.2 MT, and remained at that level until March 2021, when the country purchased 80.76 MT of gold. 9. India 822.58 MTThe Reserve Bank of India is another central bank that has fervently acted to increase to its holdings in recent years. It began adding to its gold assets in 2017; however, the majority of its purchases have taken place in the past four years.Strikingly, after India's central bank purchased 16 MT of gold in 2023, the institution scooped up another 19 MT of the precious metal in the first three months of 2024. While more than half of its gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements, about a third of its gold is held domestically. 10. Netherlands 612.45 MTRounding out this list of the top central bank gold reserves is the Dutch National Bank (DNB), the central bank of the Netherlands. Like Switzerland, the Dutch central bank stores as much as 38 percent of its gold in Canada’s national reserve. Another 31 percent, in the form of 15,000 gold bars, is held in a domestic vault, while the remaining 31 percent is located in New York’s Federal Reserve bank.In a report, the DNB describes gold as the supreme safe-haven asset. “Central banks such as DNB have therefore traditionally had a lot of gold in stock. After all, gold is the ultimate nest egg: the trust anchor for the financial system,” it reads. “If the entire system collapses, the gold supply provides collateral to start over. Gold gives confidence in the strength of the central bank’s balance sheet. That gives a safe feeling.” *11. International Monetary Fund2,814.1 MT 2,814.1 MTThe gold reserve held by the International Monetary Fund is the third largest in terms of size. The large gold reserve was amassed primarily during the founding of the international organization in 1944.In that inaugural year, it was decided that “25 percent of initial quota subscriptions and subsequent quota increases were to be paid in gold.”Since 1944, the International Monetary Fund has added gold through the repayment of debts owed by member countries. Nations can also exchange gold for another member country’s currency. This is an updated version of an article first published by the Investing News Network in 2020.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.Lithium in particular has caught the attention of CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.Since then, lithium prices went on to hit all-time highs before swiftly declining throughout 2023 and have remained subdued into the first half of 2024. Prices for other key battery metals have also decreased as EV sales growth has fallen across most global markets in the face of economic uncertainty and higher interest rates. According to Goldman Sachs research, EV battery costs are at record lows are are forecasted to fall by 40 percent between 2022 levels to 2025. In a mid-2023 Tesla earnings call, Musk seemed relieved to see prices for the battery metal had declined. “Lithium prices went absolutely insane there for a while,” he said. Lower battery prices will bring EVs closer to cost parity with internal combustion engines vehicles, leading to wider adoption and increased demand.Most lithium mining happens in Australia from hard-rock sources and in Chile from brines. But lithium refining is dominated by China, which currently accounts for more than 75 percent of global lithium processing capacity.Read on to learn more about where Tesla gets its lithium, how much lithium is in a Tesla battery and what the EV maker is doing to better secure its lithium supply chain. ​Which lithium companies supply Tesla? Tesla has deals with multiple lithium suppliers, some of which are already producing and some that are juniors developing lithium projects.At the end of 2021, Tesla inked a lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). Under the agreement, the Chinese company began providing products to Tesla for three years starting in 2022. Major miner Arcadium Lithium (NYSE:ALTM) also has supply contracts in place with the EV maker, and China’s Sichuan Yahua Industrial Group (SZSE:002497) agreed to supply battery-grade lithium hydroxide to Tesla through 2030.The company also holds deals with junior miners for production that is yet to come on stream. Liontown Resources (ASX:LTR,OTC Pink:LINRF) is set to supply Tesla with lithium spodumene concentrate from its AU$473 million Kathleen Valley project. The deal is for an initial five year period set to begin this year, and production is currently expected to begin in mid-2024.In January 2023, Tesla amended its agreement with Piedmont Lithium (ASX:PLL,NASDAQ:PLL), which is now set to supply the US automaker with spodumene concentrate from the past-producing North American Lithium operation — a project Piedmont is developing with Sayona Mining (ASX:SYA,OTCQB:SYAXF). Even though Tesla has secured lithium from all these companies, the EV supply chain is a bit more complex than buying lithium directly from miners. Tesla also works with battery makers, such as Panasonic and CATL (SZSE:300750), which themselves work with other chemical companies that secure their own lithium deals. What are Tesla batteries made of? Tesla vehicles use several different battery cathodes, including nickel-cobalt-aluminum (NCA) cathodes and lithium-iron-phosphate (LFP) cathodes.Tesla is known for using NCA cathodes developed by Japanese company Panasonic (OTC Pink:PCRFF,TSE:6752). This type of cathode has higher energy density and is a low-cobalt option, but has been less adopted by the industry compared to the widely used nickel-cobalt-manganese (NCM) cathodes. Aside from that, South Korea's LG Energy Solutions (KRX:373220) supplies Tesla with batteries using nickel-cobalt-manganese-aluminum (NCMA) cathodes.As mentioned, it wasn’t just lithium that saw prices climb in 2021 — cobalt doubled in price that same year, and although it has declined since then, the battery metal remains essential for many EV batteries. Most cobalt mining takes place in the Democratic Republic of Congo, which is often associated with child labor and human rights abuses, fueling concerns over long-term supply.That said, not all Tesla’s batteries contain cobalt. In 2021, Tesla said that for its standard-range vehicles it would be changing to lithium-iron-phosphate (LFP) cathodes, which are cobalt- and nickel-free. At the time, the company was already making vehicles with LFP chemistry at its factory in Shanghai, which supplies markets in China, the Asia-Pacific region and Europe. In April 2023, Tesla announced that it planned to use this type of cathode chemistry for its short-range heavy electric trucks, which it calls "semi light." The company is also looking to use LFP batteries in its mid-sized vehicles.At the top of this year, Tesla made moves to produce LFP batteries at its Sparks, Nevada battery facility in reaction to the Biden Administration's new regulations on battery materials sourcing, especially on those sourced from China. Reuters reports Tesla battery supplier CATL will sell idle equipment to the car maker for use at the plant, which will have an initial capacity of about 10 gigawatt hours. ​What company makes Tesla’s batteries? Tesla works with multiple battery suppliers, including Panasonic, its longtime partner, as well as LG Energy Solutions, the second largest battery supplier in the world. They supply the EV maker with cells containing nickel and cobalt. China's CATL has been supplying LFP batteries to Tesla for cars made at its Shanghai plant since 2020. It’s also been reported that BYD Company (OTC Pink:BYDDF,SZSE:002594) is supplying Tesla with the Blade battery — a less bulky LFP battery — which the car manufacturer has used in some of its models in Europe. ​How much lithium is in a Tesla battery? How much lithium do Tesla batteries actually contain? That question is tricky because many factors are at play. Typically, it depends on battery chemistry, as demonstrated by the chart below, as well as battery size. For example, the standard Tesla Model S contains about 138 pounds, or 62.6 kilograms, of lithium; it is powered by a NCA battery which has a weight of 1,200 pounds or 544 kilograms.The amount of lithium in a Tesla battery can also vary based on model and year as the battery chemistries and weights are often changing with each new iteration. For example, the newer Tesla Model S Long Range reportedly contains as much as 771 pounds, or 350 kilograms, of lithium. Back in 2016, Musk said batteries don't require as much lithium as they do nickel or graphite — he described lithium as "the salt in your salad." As the chart below shows, the metal only makes up about a 10th of the materials in each battery. Chart via BloombergNEF.Metal content of battery chemistries by weight.But a key factor to remember is volume — given the amount of batteries Tesla needs to meet its ambitious goals, it could hit a bottleneck if it can’t secure a steady supply of raw materials. Of course, this is true not just for Tesla, but for every carmaker producing EVs today and setting targets for decades to come.For that reason, demand for lithium-ion batteries is expected to soar in the coming years. By 2030, Benchmark Mineral Intelligence forecasts that demand will grow by 400 percent to reach 3.9 terawatt-hours. Over the same forecast period, the firm sees the current surplus in the lithium supply coming to end. Where is Tesla's lithium refinery? Tesla broke ground on its in-house Texas lithium refinery in the greater Corpos Christi area of the state last year. Tesla's lithium refinery capacity is expected to produce 50 GWh of battery-grade lithium per year. Musk said in late 2023 that construction of the lithium refinery would be completed in 2024, followed by full production in 2025. ​Will Tesla buy a lithium mine? For carmakers, securing lithium supply to meet their electrification goals is becoming a challenge, which is why the question of whether they will become miners in the future continues to come up.But mining lithium is not easy, and despite speculation, it's hard to imagine an automaker being involved in it, SQM’s (NYSE:SQM) Felipe Smith said. “You have to build a learning curve — the resources are all different, there are many challenges in terms of technology — to reach a consistent quality at a reasonable cost,” he noted. “So it's difficult to see that an original equipment manufacturer (OEM), which has a completely different focus, will really engage into these challenges of producing.”Even so, OEMs are coming to the realization that they might need to build up EV supply chains from scratch after the capital markets' failure to step up, Benchmark Mineral Intelligence’s Simon Moores believes. Furthermore, automotive OEMs that are making EVs will in effect have to become miners. “I don't mean actual miners, but they are going to have to start buying 25 percent of these mines if they want to guarantee supply — paper contracts won't be enough,” he said.However, last year Musk made it clear to investors that Tesla is more focused on developing its lithium refining capabilities, rather than getting into the mining game. This is an updated version of an article first published by the Investing News Network in 2022.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

FXEmpire.com - Natural gas further advances to a new trend high of 2.75 on Monday, as it busts through a potential resistance zone ending at 2.69. Today’s high put the price of natural gas up by 73.5% from the most recent swing low at 1.58 (C). It looks like it will close strong

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FXEmpire.com - Gold Gold 200524 Daily Chart Gold tested new highs as traders reacted to geopolitical developments. Demand for safe-haven gold increased after Iranian President Ebrahim Raisi died in mysterious helicopter crash.

FXEmpire.com - Natural Gas Technical Analysis Taking a look at the natural gas markets, we are clearly overbought at this point. And if you’ve been following me, you know, I’m already long in this market. I did, in full disclosure, take some profits down in this area. But what I

FXEmpire.com - Natural Gas Futures Edge Higher on Bullish Market Sentiment Natural gas futures are trending higher on Monday, approaching the critical 200-day moving average, a key indicator for long-term trends. Bullish momentum persists as recent inventory data suggests tight s

FXEmpire.com - Market Overview Oil prices rose slightly in Asian trade on Monday amid rescue attempts for Iran’s President following a helicopter crash. Crude prices held gai

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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17.Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange.The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings seen earlier in the year. It rose 0.3 percent month-on-month. In other economic news, the Conference Board released its leading economic index (LEI) on Friday. The think tank said the LEI decreased by 0.6 percent in April, which was a steeper decline than the 0.3 percent decrease seen in March. In its assessment of the health of the US economy, the organization said the data indicates a recession is no longer likely, but that challenges exist and will continue to weigh on the economy in 2024.In the resource sector, the Canadian and US governments announced on Thursday (May 16) that they will be making the first investments as part of the Canada-US Energy Transformation Task Force, whose aim is to support the development of critical minerals projects. Fortune Minerals (TSX:FT,OTCQB:FTMDF) will receive a C$7.5 million investment from the Canadian government to develop its NICO cobalt-gold-bismuth-copper project in the Northwest Territories, as well as an injection of US$6.4 million from the US government’s Defense Production Act Investments Office.The other company to receive funding is Lomiko Metals (TSXV:LMR,OTCQB:LMRMF), which is the top stock on the list below. Read on to learn details about the funding it received and about this week's other top gainers on the TSXV. 1. Lomiko Metals (TSXV:LMR) {"@context":"http://schema.org","@type":"Corporation","name":"Lomiko Metals","url":"http://www.lomiko.com","description":"A Domestic Producer To Supply North America’s Critical Metals","tickerSymbol":"TSXV:LMR","sameAs":["https://twitter.com/LomikoMetals"],"image":"https://investingnews.com/media-library/lomiko-metals.png?id=29444475&width=980","logo":"https://investingnews.com/media-library/lomiko-metals.png?id=29444475&width=210"} Press Releases Company Profile Weekly gain: 133.33 percent; market cap: C$10.02 million; current share price: C$0.035Lomiko Metals is an exploration and development company working to advance two battery materials projects in Québec, Canada, to production. Its La Loutre asset is a flake graphite project located in the Laurentides administrative region, 30 kilometers southwest of Montreal. A May 2023 technical report outlines an indicated resource of 64.7 million MT grading 4.59 percent graphitic carbon, with an inferred resource of 17.45 million MT grading 3.72 percent graphitic carbon.The company also holds a 49 percent stake in Critical Elements’ (TSXV:CRE,OTCQX:CRECF) Bourier lithium project, with the opportunity to earn an additional 21 percent. The site is located northeast of Duval, Québec, and consists of 203 mining claims over 102.6 square kilometers. The project is currently in the early phases of soil and surface sampling.Shares of Lomiko surged this past week following Thursday's news that it has received US$8.35 million in funding from the US Department of Defense as part of the Defense Production Act and the Inflation Reduction Act for energy security in North America. The company received an additional grant of C$4.9 million from the Critical Mineral Research, Development and Demonstration program administered by Natural Resources Canada. The money will be used for a pilot program to upgrade flake graphite from the La Loutre project into battery-grade anode material. Buy now , 2. Copper Fox Metals (TSXV:CUU) {"@context":"http://schema.org","@type":"Corporation","name":"Copper Fox Metals","url":"https://copperfoxmetals.com/","description":"Copper Exploration and Development in North America","tickerSymbol":"TSXV:CUU","sameAs":[],"image":"https://investingnews.com/media-library/tsxv-cuu.jpg?id=27865977&width=980","logo":"https://investingnews.com/media-library/tsxv-cuu.jpg?id=27865977&width=210"} Press Releases Company Profile Weekly gain: 126.19 percent; market cap: C$363.15 million; current share price: C$0.48Copper Fox Metals is an exploration and development company with assets located in the US and Canada. Copper Fox’s primary projects include the Schaft Creek joint venture, and its wholly owned Van Dyke and Eaglehead projects.The Van Dyke copper oxide property is located within the Globe-Miami copper district of Arizona. According to a December 2020 preliminary economic assessment, the brownfield project is projected to produce about 1.1 billion pounds of copper over a 17 year mine life. Initial capital costs are set at US$290.5 million. The Eaglehead copper porphyry project is near Dease Lake, BC, and hosts four open-ended porphyry deposits. An October 2023 resource estimate outlines an indicated resource of 345 million pounds of copper and 16.9 million pounds of molybdenum, as well as an inferred resource of 1.3 billion pounds of copper and 1 billion pounds of molybdenum.The company also operates and holds a 25 percent stake in the Schaft Creek copper porphyry joint venture near Eaglehead, with the remainder being held by Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK).Shares of Copper Fox saw substantial gains last week; however, in a press release on Tuesday (May 14), the company noted it was unaware of any material change that would account for the increased market activity. The jump did come alongside the surging price of copper. Buy now , 3. Desert Mountain Energy (TSXV:DME) {"@context":"http://schema.org","@type":"Corporation","name":"Desert Mountain Energy","url":"https://www.desertmountainenergy.com","description":"Desert Mountain Energy Corp is a forward-looking resource company actively engaged in the exploration and development of Helium and Rare Earth Gas properties in the U.S. Southwest.","tickerSymbol":"TSXV:DME","sameAs":[],"image":"https://investingnews.com/media-library/image.png?id=38312264&width=980","logo":"https://investingnews.com/media-library/image.png?id=38312264&width=210"} Company Profile Weekly gain: 61.54 percent; market cap: C$28.88 million; current share price: C$0.42Desert Mountain Energy is an exploration, development and production company focused on advancing helium, hydrogen and natural gas assets in New Mexico and Arizona, US.Its operations in West Pecos consist of the West Pecos gas field, which hosts 188 wells across 77,000 acres of oil and gas leases and has expansion potential of up to 100 additional wells. The site is also home to a helium processing facility that is capable of producing various grades of helium. The company is working to construct a 60,000 gallon accumulation tank that, when finished, will allow it to process natural gas, condensate and helium. Desert Mountain also owns the Holbrook helium project in Arizona’s Holbrook basin. It is comprised of over 1 million acres of helium prospects and is situated in a region that has historic production of 9.23 billion cubic feet of helium with grades between 8 and 10 percent.Shares of Desert Mountain saw gains this past week after it signed new terms for its strategic partnership with Beam Earth to commence hydrogen exploration in Arizona during Q4 of this year. Under the terms of the Thursday deal, Beam Earth will make a US$225,000 payment to Desert Mountain and will fund the drilling programs, pilot well and engineering for a white hydrogen/helium plant, as well as the planning for a green hydrogen plant in Arizona.Desert Mountain will retain ownership rights for its wells in New Mexico and Arizona, and will jointly share profits from new hydrogen and helium wells in Arizona. Buy now , 4. Surge Copper (TSXV:SURG) {"@context":"http://schema.org","@type":"Corporation","name":"Surge Copper Corp.","url":"https://www.surgecopper.com","description":"Surge Copper Corp is engaged in the acquisition, exploration, and development of mineral properties hosting copper, gold, silver, and molybdenum prospects. The firm owns Ootsa Property, located in central British Columbia.","tickerSymbol":"TSXV:SURG","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=29648259&width=980","logo":"https://investingnews.com/media-library/image.gif?id=29648259&width=210"} Company Profile Weekly gain: 57.14 percent; market cap: C$41.2 million; current share price: C$0.22Surge Copper is a copper exploration company working to advance its Berg and Ootsa projects in BC.In a June 2023 preliminary economic assessment for Berg, which hosts deposits with copper, molybdenum, silver and gold, the company reported a net present value of C$2.1 billion with an internal rate of return of 20 percent. The property has the potential for a 30 year mine life with total payable production of 5.8 billion pounds of copper equivalent. Meanwhile, the 72,710 hectare Ootsa property is host to three advanced-stage copper, gold, molybdenum and silver porphyry deposits. A June 2022 combined mineral resource estimate for the site’s Seel and Ox deposits outlines measured and indicated resources of 1.7 billion pounds of copper, 167 million pounds of molybdenum, 1.6 million ounces of gold and 29.5 million ounces of silver. The company did not report any news last week, but trended upward alongside surging copper prices. Buy now , 5. East Africa Metals (TSXV:EAM) {"@context":"http://schema.org","@type":"Corporation","name":"East Africa Metals Inc.","url":"http://www.eastafricametals.com","description":"East Africa Metals Inc is a mineral exploration company focused on the identification, acquisition, exploration, development, and/or sale of base and precious mineral resource properties in Ethiopia and Tanzania. The company's major mineral properties consist of two projects in Ethiopia, the Harvest Project and the Adyabo Project and one project in Tanzania, the Handeni Properties. Its geographical segments include Canada, Tanzania, and Ethiopia. It has one reportable segment being Exploration and Development of Mineral Properties.","tickerSymbol":"TSXV:EAM","sameAs":[]} Company Profile Weekly gain: 54.55 percent; market cap: C$31.56 million; current share price: C$0.17East Africa Metals is a gold exploration company focused on operations in Ethiopia. Its principal asset is the Adyabo property, in which the company holds a 30 percent net profit interest, with Tibet Huayu Mining (SHA:601020) owning the remaining 70 percent. The 195.2 square kilometer site hosts two mining licenses located in an area known for high-grade gold and copper mineralization. The company also owns a 70 percent share of the Harvest polymetallic project in the Tigray region of Ethiopia, as well as a 30 percent streaming interest in the Magambazi gold mine in the Tanga region of Tanzania. Shares of East Africa saw gains following an announcement on May 10 that Tibet Huayu will be moving forward with mine development activities for the Mato Bula and Da Tambuk mines at the Adyabo property, with construction of roadworks to begin before the end of May. Buy now , FAQs for TSXV stocks ​What is the difference between the TSX and TSXV? The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, while the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange. ​How many companies are listed on the TSXV? As of September 2023, there were 1,713 companies listed on the TSXV, 953 of which were mining companies. Comparatively, the TSX was home to 1,789 companies, with 190 of those being mining companies.Together the TSX and TSXV host around 40 percent of the world’s public mining companies. ​How much does it cost to list on the TSXV? There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance. These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports. ​How do you trade on the TSXV? Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours. Data for this 5 Top Weekly TSXV Performers article was retrieved at 1:00 p.m. PST on May 17, 2024, using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals were considered.Article by Dean Belder; FAQs by Lauren Kelly.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: Fortune Minerals is a client of the Investing News Network. This article is not paid-for content.

FXEmpire.com - Natural gas surged to a new trend high of 2.64 on Friday and it continues to trade near the highs of the day, at the time of this writing. That put it up by 65.4% from the April 25 swing low (C). A bullish trend continuation signal was triggered on a rally above Th

FXEmpire.com - Natural Gas Natural Gas 170524 Daily Chart Natural gas tests new highs as the rally continues. Traders stay focused on the recent EIA report, which was somewhat bullish. It looks that short covering may be an important catalyst for the current rally.