Copper and gold prices saw upward momentum on Friday, driven by developments in global production and demand as well as broader economic conditions. On the London Metal Exchange (LME), three-month copper contracts rose to $8,914 per tonne, marking a 0.4% increase. This gain was supported by a 1.6% decline in China’s refined copper production in...
READ MOREGlobal gold production is projected to reach an all-time high of approximately 3,250 tonnes (105 million ounces) in 2024 before entering a period of sustained decline, according to industry experts speaking at The Northern Miner’s International Metals Symposium in London on December 2. From 2025 onward, factors such as depleting reserves, declining ore grades, and...
READ MOREThe Federal Reserve’s decision to cut interest rates on Wednesday led to a sharp drop in gold prices, with spot gold tumbling over 2% to a one-month low. Spot gold closed the session down $60.36, or 2.28%, at $2,585.54 per ounce—the lowest level since November 18. The U.S. dollar index surged over 1% to a...
READ MOREBlack Cat Syndicate (ASX:BC8) has successfully poured its first gold bar at the restarted Paulsens Gold Operation in Western Australia. The milestone was achieved on December 22, following the refurbishment and commissioning of the site’s processing facility, completed on schedule and within budget. The Paulsens site, located 180 kilometers west of Paraburdoo, includes an underground...
READ MOREAluminum prices have dropped below $2,600 per metric ton, driven by concerns over weak seasonal demand and rising production levels in China. According to official data, Chinese aluminum output reached record highs in November, totaling 3.71 million metric tons. This equates to an annualized production rate of 45.3 million tons, coinciding with a period of...
READ MOREGold prices climbed nearly $34 on Tuesday, reaching a two-week high of $2,693.78 per ounce. The surge was driven by escalating geopolitical tensions and strong market expectations for a Federal Reserve interest rate cut next week. Spot gold ended the session up $33.75, or 1.27%, with buyers targeting the $2,700 mark for the first time...
READ MORERio Tinto and Sumitomo Metal Mining (SMM) have signed a term sheet for a joint venture to advance the Winu copper-gold project, located in the Great Sandy Desert region of Western Australia. Under the agreement, Rio Tinto will continue to develop and operate Winu as the managing partner, while SMM will acquire a 30% equity...
READ MOREThe ratio of Kazakhstan’s proven gold reserves to the country’s gold production currently stands at 1.2, indicating that explored gold reserves exceed current production levels, according to Minister of Industry and Construction Kanat Sharlapayev. This means that Kazakhstan’s gold reserves are in a healthy state, with more being discovered than is being extracted. For copper,...
READ MOREIn Asian morning trading, spot gold prices saw a significant rise from an intraday low of $2,633.85 per ounce to a peak of $2,645.52 per ounce. FXStreet analyst Christian Borjon Valencia pointed out that gold has remained above the $2,600 mark, supported by ongoing geopolitical tensions and speculation regarding a possible rate cut by the...
READ MOREU.S. mining giant Newmont has agreed to sell its large gold mine in northern Canada for $795 million (123 billion yen) in cash. This move is part of the company’s broader strategy to sell off non-core assets following its acquisition of Australia’s Newcrest Mining, the largest-ever merger and acquisition (M&A) in the gold mining sector....
READ MOREEcuador’s exports of copper, lead, and precious metals fell during the first three quarters of the year compared to the same period last year, as the country’s largest mines limited production, the government announced on November 25. Copper-lead concentrates dropped 16.7% to 447,277 metric tons (mt) through September, down from 536,684 mt a year earlier....
READ MOREBarrick Gold announced Friday that it is making significant progress towards building a sustainable future, leveraging a focused asset portfolio and a strategy aimed at uncovering and unlocking value while fostering productive partnerships in its host countries. Speaking to investors in New York, President and CEO Mark Bristow detailed the company’s achievements since its merger,...
READ MOREUS Gold Corp. (Nasdaq: USAU) has cleared a major hurdle in the development of its CK gold project by securing approval from the Wyoming Department of Environmental Quality (WDEQ) for its air quality permit. This permit represents the final condition required under the mine operating permit issued earlier this year. The other two conditions—the project’s...
READ MOREGold prices surged on Monday, climbing 1.9% to close at $2,611.73 per ounce after six consecutive days of losses. The increase came as the U.S. dollar paused its rally, and renewed uncertainty from the escalating Russia-Ukraine conflict rekindled demand for safe-haven assets. FXStreet analyst Christian Borjon Valencia noted that gold rebounded from a two-month low...
READ MOREGold prices advanced on Monday after experiencing their steepest weekly drop since 2021, as the U.S. dollar eased and traders assessed the potential for Federal Reserve rate cuts given Donald Trump’s anticipated return to the White House next year. Spot gold climbed more than 1% to above $2,597 per ounce, following a loss of more...
READ MORETirex Resources, a Canadian company based in Vancouver, has concluded its exploration activities in Albania and informed the government of plans to convert several exploration concessions into mining concessions. The company aims to begin production soon in six deposits in the Mirdita region, focusing on copper, gold, and zinc extraction. The volcanic deposits in the...
READ MORETroilus Gold has secured a preliminary agreement for a US$500-million loan guarantee from Germany’s Euler Hermes Aktiengesellschaft to support its copper and gold project in Quebec. The guarantee, issued on behalf of Germany’s Ministry for Economic Affairs and Climate Action, is contingent upon Troilus signing an offtake agreement with German copper smelter Aurubis. The offtake...
READ MOREGold prices experienced a significant drop on Monday, November 11, falling by more than 2% as the U.S. dollar strengthened in the wake of Donald Trump’s election as U.S. President. The precious metal’s value declined by $64.75, or 2.41%, closing at $2,619.23 per ounce, with prices reaching as low as $2,610.61 during the trading session....
READ MOREBarrick Gold made significant strides in the third quarter of the year, despite ongoing challenges, ensuring that its annual production and cost targets remain within reach due to an anticipated strong performance in the fourth quarter. Gold production remained steady compared to the previous quarter, while copper production saw a 12% increase quarter-on-quarter. The company...
READ MOREDuring the Asian market session, spot gold experienced a sudden and sharp decline, briefly falling to $2,724.64 per ounce, hitting an intraday low. According to FXStreet analyst Christian Borjon Valencia, technical analysis of gold indicates potential signs of weakness. Gold prices closed nearly unchanged on Monday, with investors awaiting the outcome of the U.S. election...
READ MORESharp Decline Follows Record High Spot gold experienced a significant decline on Thursday, closing down by \$43.50, or 1.56%, at \$2,743.63 per ounce. This drop followed a historic high of \$2,790.11 per ounce reached earlier in the day. Analysts cited profit-taking by investors and robust US economic data as primary reasons for the downturn. David...
READ MOREAmerican gold mining company AngloGold Ashanti is set to acquire Centamin, a company registered offshore on the British island of Jersey. Shareholders from both companies have approved the deal, which is expected to be finalized by the end of November. The acquisition will be conducted through a share swap, with current shareholders of AngloGold Ashanti...
READ MOREAura Minerals will acquire a 100% interest in Bluestone Resources’ Cerro Blanco gold project in Guatemala and the Mita Geothermal project. The deal values Bluestone at C$0.50 per share, representing a 51% premium, with the total enterprise value reaching up to US$74.3 million. Bluestone shareholders can choose a cash payment of C$0.287 per share or...
READ MOREOn Wednesday, October 23, spot gold prices fell sharply, dropping more than 1% after hitting a record high earlier in the day. The decline came as the U.S. dollar strengthened, U.S. bond yields rose, and tensions in the Middle East appeared to ease, prompting investors to take profits. Spot gold closed down \$33.44, or 1.22%,...
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