I discussed in Prime Meridians this past weekend a $1.4 billion lawsuit brought against Venezuela state energy firm PDVSA. With the major this week filing a motion to quash the suit, which claims it illegally transferred billions out of the U.S. in order to duck a settlement. And news this week suggests that PDVSA may badly need the … Read more

Major South American miner Milpo dealt a major blow to the copper sector this past Thursday. Announcing that it will pull out of the Michiquillay project in Peru — one of the country’s largest undeveloped copper deposits. Milpo cited government investment terms as a major reason for the company’s withdrawal. And elsewhere in South American copper, fiscal … Read more

I wrote last week about how the copper market is starting to adjust to lower prices. With a number of significant mines closing down amid the currently-depressed market. But news this week shows the exact opposite is happening in one of the world’s most important copper-producing centers. That’s Chile. Where the government is moving to help … Read more

This week in Pierce Points: E&Ps kept their good credit. A survey of U.S. oil and gas producers shows bank lines have been cut much less than expected. China hinted at a plan to control Asia’s copper. Officials want to buy concentrate and build smelters along the Silk Road. Ecuador’s mining sector rebranded itself. The government is offering better tax rates to … Read more

Coal has been one of the big stories of 2016. With this beat-down market taking flight during the last half of the year — lifting stocks of major producers like Peabody Energy to over 700% gains in a matter of weeks. Check out the chart below. A late rebound in the coal market this year lifted … Read more

I wrote a few weeks ago about record slowdowns in gold sales across India. With buyers in the world’s number-one consuming nation holding off on purchases ahead of an expected cut in import taxes from the federal government. And yesterday we got the decision from India’s officials on the gold tax. Although it wasn’t at all … Read more

This week in Pierce Points: China became the world’s largest crude importer. Data from April show that the Asian superpower is now bringing in oil faster than America. One of the world’s smallest countries opened for oil. Belize is looking at offering exploration blocks — and that might be a big opportunity. India’s gold imports continued to rise. Shipments into the country jumped … Read more

Potentially major development in the gold space this week. With one of the world’s go-to producing nations apparently going through a regulatory upheaval — which could affect new projects and output. That’s in Ghana. Where the federal government said it has suspended issuance of new mining licenses across the country. That news was delivered at … Read more

I’ve written a lot over the last few months about a tiny island emerging as one of the world’s best spots for natural gas production. The eastern Mediterranean nation of Cyprus. And a new export deal this week is sealing the deal when it comes to creating a big market for big discoveries here. That’s coming from … Read more

You won’t hear a lot about it in the mainstream press. But one place on Earth is quietly becoming a go-to destination for oil and gas developers globally. East Africa. A lot of attention of late has focused on the other side of this continent. With observers closely watching high-impact drilling in places like Namibia and Ghana. … Read more