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☆ Yanomami health crisis in Brazil can only be solved by expelling miners, official says
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

BRASILIA, Feb 7 (Reuters) - The medical emergency the Yanomami people of Brazil are suffering can only be overcome if illegal gold miners that invaded their reservation are evicted, an indigenous health official said on Tuesday. We believe the reopening of medical units can only be done when the miners are all removed," Indigenous Health Secretary Ricardo Weibe Tapeba told a news conference. About 20,000 wildcat miners on the Yanomami reservation in the state of Roraima in northern Brazil have brought malaria and severe food shortages that caused the death of starving Yanomami children, he said. Some 700 patients have been airlifted to the state capital of Boa Vista and are being treated at the CASAI indigenous health center hospital and a field hospital set up there, Weibe added. Their mineral-rich lands attracted wildcat miners for decades, especially after a military government built a road through the Amazon rainforest in the 1970s.

☆ Forgotten parts of the market lead the way in 2023 as advisors wrestle with how to play the economy
▼ + stars: | 2023-02-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Everyone here is amazed at how forgotten segments of the market have rebounded in 2023: international, growth, small cap and bonds. Advisors here are having a hard time wrapping their heads around the idea that there would be a recession ins 2023, and now maybe not. "With real wage growth, large payroll growth and earnings beating expectations it equals a soft landing at worst and maybe no recession near term." Most advisors here are coming to grips with Powell's insistence the Fed will not lower rates this year. Their Equal Weight S & P 500 ETF (RSP) has also attracted significant inflows from investors wary of market cap weighted indexes.

☆ James Abate's stock fund has nearly doubled its benchmark over 3 tumultuous years. Here's how he says investors should get ready for potential black swan events that could shape 2023.
▼ + stars: | 2023-02-07 | by ( Marley Jay | Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Kiplinger rates the fund as the best US large-company stock fund from 2020 to 2022. That's not the most encouraging backdrop for stocks, especially since Abate said investors will be less comfortable taking big risks. He added that while the beginning of 2023 has been the opposite of 2022, that's not going to last. For the first black swan, Abate pointed towards the escalation of the Russian-Ukraine crisis, including the recent increase in air defense activity, ground troops, and the shipment of armored vehicles, tanks, and fighter aircraft. As for the second black swan, Abate also highlighted the Japanese government's "unprecedented" and "unsustainable" buying of the yen to boost the currency against others like the dollar.

☆ Gold miner unearths risky M&A seam
▼ + stars: | 2023-02-06 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

That’s precisely what Newmont (NEM.N) boss Tom Palmer has just done, offering $17 billion in stock for Australian gold excavator Newcrest Mining (NCM.AX). At present Newmont is offering a 22% premium to the target’s undisturbed share price, after Newcrest rejected an earlier 17% boost. What Canada’s Barrick Gold (ABX.TO) does in response is the main question. It is the world’s largest gold miner, which at $40 billion sports a market capitalisation 25% higher than Barrick’s. Agnico Eagle Mines (AEM.TO), the $24 billion third-largest miner of the ore, may want to dig in, too.

☆ Illegal miners in Yanomami reservation seek Brazil government help to leave
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Feb 6 (Reuters) - Illegal gold miners blamed for causing a humanitarian crisis on Brazil's largest indigenous reservation are asking authorities to help them leave, one of their leaders and a Brazilian senator said on Monday. In a video he posted on social media, Mesquita asked the government to unblock rivers for 10-15 days for the miners to leave the reservation in the northern state of Roraima. "What matters is that the miners leave peacefully and protected," he said. Some of the miners that are beginning to leave the Yanomami reservation are expected to head across the border into neighboring French Guiana, Suriname and Guyana. Their mineral-rich lands have attracted wildcat miners for decades, especially after a military government built a road through the Amazon rainforest in the 1970s.

☆ These mining ETFs are soaring as gold's rally powers ahead in January
▼ + stars: | 2023-01-31 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The SPDR Gold Trust (GLD) , which tracks gold prices, has a return of more than 5% in January, roughly matching the S & P 500. The VanEck Gold Miners ETF (GDX) has doubled up the SPDR Gold Trust this month, while the small cap Junior Gold Miners ETF (GDXJ) has gained more than 8%. Silver mining ETFs are also doing well, even though the iShares Silver Trust (SLV) is negative for the month. ETFMG's Prime Junior Silver Miners ETF (SILJ) has gained more than 8% this month. The SPDR Gold Trust had dipped less than 1% for three straight trading sessions entering Tuesday.

☆ Brazil readies task force to expel miners from Yanomami lands, officials say
▼ + stars: | 2023-01-31 | by ( Anthony Boadle | ) www.reuters.com time to read: +3 min

[1/2] A village of indigenous Yanomami is seen during Brazil's environmental agency operation against illegal gold mining on indigenous land, in the heart of the Amazon rainforest, in Roraima state, Brazil April 18, 2016. REUTERS/Bruno Kelly/File PhotoBRASILIA, Jan 31 (Reuters) - Brazil is preparing a task force of armed forces, police and government agencies to expel illegal gold miners who invaded the Yanomami indigenous reservation, officials said on Tuesday. Defense Minister Jose Mucio said the military is needed to drive out the miners, who are well armed and have helicopters. Wapichana said the task force, as in past offensives against illegal miners, will involve the Federal Police, environmental protection agency Ibama, Funai and several ministries, as well as the military. Wapichana said the government will move against the organized crime and financial groups that supply and fund the illegal mining, and launder the gold.

☆ Germany pledges funds to help Brazil defend Amazon rainforest
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Jan 30 (Reuters) - Germany on Monday pledged 200 million euros ($217 million) to help Brazil defend the Amazon rainforest, a global ecosystem devastated during years of rule under former Brazilian President Jair Bolsonaro. The sum includes a donation of 35 million euros ($38 million) to the Amazon Fund to strengthen a billion-dollar initiative funded by Norway and Germany to protect the South American rainforest and fight deforestation. The Amazon Fund was re-activated by Brazil's Environment Minister Marina Silva the day she took office vowing to halt deforestation in the world's largest tropical rainforest. As president Bolsonaro said Brazilians had the right to develop natural resources in the Amazon. The German assistance includes socio-environmental projects to support Brazilian states in the Amazon rainforest and low-interest loans to farmers for the reforestation of their land, a statement issued by Brazil said.

☆ Why are Brazil's Indigenous Yanomani being decimated by diseases, mining?
▼ + stars: | 2023-01-27 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

BOA VISTA, Brazil — Severe malnutrition and disease, particularly malaria, are decimating the Yanomami population in Brazil’s Amazon rainforest, and on Jan. 20 the federal government declared a public health emergency. An estimated 30,000 Yanomami people live in Brazil’s largest indigenous territory, which covers an area roughly the size of Portugal and stretches across Roraima and Amazonas states in the northwest corner of Brazil’s Amazon. Illegal gold miners were first present in Yanomami territory during the 1980s, but then were largely expelled. Their numbers surged to 20,000 during Bolsonaro’s administration, according to estimates from environmental and Indigenous rights groups. Miners destroy the habitat of animals that the Yanomami hunt, and occupy fertile land that the Yanomami use to farm.

☆ Here are 5 ways investors can find deeply discounted stocks hiding in the red-hot energy and materials sectors, according to a top 1% value fund manager
▼ + stars: | 2023-01-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Top-1% value fund manager Scott Barbee shared the investing strategy that's brought him success. Barbee's Aegis Value Fund (AVALX) has beaten 98% of peers by returns over the past 15 years, according to Morningstar. After finding potential candidates for his fund, Barbee looks at a company's financial health by inspecting its balance sheet and capital structure to see how much debt it has and how it's organized. Following these steps has brought Barbee robust returns over the long term, regardless of what stage of the economic cycle he's investing in. The top holding in the Aegis Value Fund is Amerigo Resources (ARREF), which mines copper in Chile.

☆ Brazil's Yanomami region looks like ‘concentration camp,’ says official
▼ + stars: | 2023-01-24 | by ( ) www.nbcnews.com time to read: +3 min

“It looks like a concentration camp,” Tapeba, a doctor appointed to the position by Brazil’s new government, said in a radio interview. Brazilian President Luiz Inacio Lula da Silva, left, visits the Yanomami Indigenous Health House (Casai) in the Boa Vista rural area, Roraima state, Brazil, on Saturday. “It’s an extreme calamity, many Yanomami are suffering from malnutrition and there is a total absence of the Brazilian state,” Tapeba said. This can only be resolved by removing the gold miners and that can only be done by the armed forces,” he said. Brazil’s Supreme Court ordered the removal of the gold miners.

☆ Brazil declares emergency over deaths of Yanomami children from malnutrition
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +3 min

BRASILIA, Jan 22 (Reuters) - Brazil's ministry of health has declared a medical emergency in the Yanomami territory, the country's largest indigenous reservation bordering Venezuela, following reports of children dying of malnutrition and other diseases caused by illegal gold mining. In four years of Bolsonaro's presidency, 570 Yanomami children died of curable diseases, mainly malnutrition but also malaria, diarrhea and malformations caused by mercury used by wildcat gold miners, the Amazon journalism platform Sumauma reported, citing data obtained by a FOIA. Lula visited a Yanomami health center in Boa Vista in Roraima state on Saturday following the publication of photos showing children and elderly men and women so thin their ribs were visible. In recent violent incidents, men on speed boats on the rivers have shot with automatic weapons at indigenous villages whose communities oppose the entry of gold miners. Lula said the new government will put an end to illegal gold mining as it moves to crack down on illegal deforestation in the Amazon, which surged to a 15-year high under Bolsonaro.

ET (1505 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 38.76 points, or 0.19%, at 20,398.86 - a six-week high. Investors will focus on December inflation data due on Tuesday, with economists polled by Reuters forecasting a 6.4% rise on an annual basis. "We're going to have the CPI report, so that'll be crucial, giving us an indication how the fight against inflation is going," said Allan Small, senior investment advisor at Allan Small Financial Group. The energy sector (.SPTTEN), financial (.SPTTFS) and technology stocks (.SPTTTK) gained between 0.2% and 0.4%. Investment management company Colliers International Group (CIGI.TO) gained 3.3% after Scotiabank upgraded the stock to "outperform".

☆ Brazil should work with other countries to curb illegal gold trade, says mining lobby
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

RIO DE JANEIRO, Jan 13 (Reuters) - Brazil's mining lobby group asked the country's foreign ministry to work with other governments to improve tactics used to combat the illegal gold trade, it said on Friday. "The trade of illegal gold feeds a criminal alliance in Brazil, which is responsible for part of the devastation we see in the Amazon rainforest, something the world is watching," said Raul Jungmann, president of the Ibram trade association, in a statement. Ibram represents mining giants such as Vale (VALE3.SA), Rio Tinto (RIO.AX), BHP as well as gold miners such as South Africa's AngloGold Ashanti (ANGJ.J) and Canada's Yamana Gold <YRI.TO. The lobby group called for the ministry to work with countries that buy illegally mined Brazilian gold, such as Switzerland, to "reduce the space" for illicit operators. It has pledged to stop deforestation in the Amazon, a vital biome whose health is considered vital in the fight against climate change.

☆ Glittering gold gives markets some Christmas cheer
▼ + stars: | 2022-12-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

Gold miners in Australia led a 1.3% jump for the S&P/ASX 200 (.AXJO). On Tuesday the Bank of Japan (BOJ) widened its trading band for 10-year government bond yields from 25 basis points (bps) either side of zero to 50 bps. The resultant drop for the U.S. dollar has spot gold prices testing six-month peaks and gold miners riding high. Benchmark 10-year Treasury yields rose four bps to a three-week high of 3.722%. Japanese 10-year yields rose 5.5 bps to 0.45%, close to the BOJ's 0.5% ceiling.

☆ Lula’s promise to create a ministry of Indigenous affairs in doubt
▼ + stars: | 2022-12-06 | by ( ) www.nbcnews.com time to read: +3 min

BRASILIA — Brazil’s Indigenous leaders were disappointed on Monday after President-elect Luiz Inacio Lula da Silva appeared to backtrack on a promise to create a ministry of Indigenous affairs to help restore rights and protections that were undermined by the current government. Lula said on Friday he might instead decide on a special department linked to the presidential office rather than a fully-fledged ministry, which disappointed Indigenous leaders who were taken by surprise by his comments. The ministry was important for the historical recognition of Brazil’s 900,000 indigenous people and reparation for their mistreatment and loss of land rights, she told Reuters. Lula drew loud applause at the COP27 climate talks in Egypt last month when he told delegates he explicitly promised an Indigenous ministry to ensure “dignified survival, security, peace and sustainability” for some 300 Indigenous tribes that still exist in Brazil. But Indigenous leaders said a ministry was needed to support their communities with the power to mobilize other ministries, and even the police and security forces to protect them.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

☆ Ghana orders mining firms to sell 20% of refined gold to c.bank
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

ACCRA, Nov 25 (Reuters) - Ghana has ordered all large-scale mining companies to sell 20% of their entire stock of refined gold at their refineries to the Bank of Ghana from Jan. 1, 2023, Vice-President Mahamudu Bawumia said on Facebook on Friday. All community mining schemes and licensed small-scale miners will also have to sell their gold to the government through PMMC from the same date onwards. "The gold to be purchased by the Bank of Ghana and the PMMC will be in cedis at spot price with no discounts," he added. However, Bank of Ghana Communications Officer Sam Opoku told Reuters he could not confirm or deny whether Bawumia's order was being considered. Gold miners Newmont Corp (NEM.N), Gold Fields Ltd (GFIJ.J), AngloGold Ashanti Ltd (ANGJ.J), Galiano Gold Inc (GAU.TO) and Asante Gold Corp (ASE.CD), all of which have gold mines in Ghana, did not immediately respond to Reuters' requests for comment.

☆ Gold Fields sticks to its Yamana Gold offer after counter-bid
▼ + stars: | 2022-11-07 | by ( Helen Reid | ) www.reuters.com time to read: +3 min

[1/2] A small toy figure and gold imitation are seen in front of the Gold Fields logo in this illustration taken November 19, 2021. Gold Fields' decision reflects "commitment to capital discipline" and to fairness for shareholders in Gold Fields and Yamana, the South Africa-listed miner said on Monday. Gold Fields shares fell by 20% when it announced the all-stock deal in May, denting the deal's appeal for Yamana shareholders. The Agnico/Pan American offer would only become effective if Yamana shareholders vote against Gold Fields' offer on Nov. 21. The counter-bid for Yamana shows gold miners are keen for new assets to supplement dwindling gold reserves and ensure their long-term growth, but Gold Fields' decision not to raise its bid is a sign of fears about overpaying.

The outcome of Brazil's presidential election Sunday is being hailed as a crucial victory for global climate, with experts saying the country now has an opportunity to curb rampant deforestation of the Amazon rainforest and jump-start a green economy. The 77-year-old has vowed to fight Amazon deforestation and crack down on illegal gold miners, loggers and ranchers who have invaded indigenous land and caused widespread environmental destruction. “Brazil is ready to retake its leadership in the fight against the climate crisis,” Lula said in a victory speech in Sao Paulo, according to Reuters. The vast Amazon rainforest plays a critical role as a carbon sink, absorbing carbon dioxide from the atmosphere and releasing oxygen. The findings added new urgency to restore balance to the Amazon and avert the worst consequences of climate change.

☆ Gold slips as Fed minutes, inflation data loom
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices inched lower on Wednesday as traders looked forward to U.S. Federal Reserve minutes and key inflation data for clues on the pace of future interest rate hikes. Spot gold fell 0.1% to $1,663.60 per ounce, as of 0055 GMT, hovering close to a one-week low touched on Tuesday. The Federal Open Market Committee will issue minutes of its Sept. 20-21 meeting at 1800 GMT later in the day. While gold is considered as a hedge against inflation and economic uncertainties, rising interest rates reduce the appeal of the asset, which pays no interest. The International Monetary Fund warned on Tuesday that colliding pressures from inflation, war-driven energy and food crises and sharply higher interest rates were pushing the world to the brink of recession.

☆ Is it time to buy gold? Wall Street pros weigh in as prices fall
▼ + stars: | 2022-10-11 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

The precious metal has come under pressure this year, with the dollar's big gain weighing on gold prices. I think inflation is going to win. Higher real rates imply a higher cost of carry for gold, due to increased competition from higher-yielding investments. "They are something you keep in your portfolio, because when you need them, they work and that's the history of gold and gold equities. He added that he continues to see a "very strong" market for gold and gold equities over the longer-term.

☆ A top fund manager shares how his inflation-focused ETF is navigating crippling price growth and the possibility of 'significant economic destruction'
▼ + stars: | 2022-09-17 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

But David Schassler, who co-manages the fund while also serving as VanEck's head of quantitative investment solutions, isn't taking a victory lap. Schassler added: "This severely limits the Fed's ability to successfully fight inflation without causing significant economic destruction." "It's not only that we own the right assets, but we've been overweight the right assets within the mix of inflation-fighting assets that we own," Schassler said. His three-step process is as follows: identify the right assets to own, optimize the portfolio by diversifying, and adapt to different inflation regimes. Examples of the right assets to own, in Schassler's view, are listed above.

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