Plus, Alkane’s gold and rare earths combination proving a magnetic attraction for investors
Chatter about the re-emergence of a mining boom is all a bit premature. What is more certain is that exploration expenditure and activity is on the rise in response to the broad advance in most commodities and evidence of cohesive global economic growth.
And while the jury is out on a another mining boom, there is a body of thought that this time around, we are at least in for a golden era of exploration success, with or without the price and volume excesses of the last boom.
Rare earths, that most fickle family of the mining world, are today’s stars of the Australian stock market. But whether they will shine for long or do their usual shooting-star trick should keep investors on high alert for a possible bust to follow the boom.
Royal Bank of Canada has joined the growing throng of mainstream brokers and investment banks with an upbeat outlook for Dacian Gold (ASX: DCN), as it closes in on first gold production from its flagship Mount Morgans gold project in WA early next year.
Pilbara Minerals has begun work on an expansion of its Pilgangoora lithium-tantalum project, which could make it the biggest lithium mine in the world depending on the timing of the proposed expansion of Greenbushes in the South West, The West Australian reports.
The third-best performing ETF tracking material producers got a jolt from China after the country said it will set a deadline for auto makers to end sales of fossil-fuelled vehicles, reports Bloomberg.