Mexico-focused precious metals producer Fresnillo PLC announced an 11% rise in revenue for the first half of 2024, reaching USD1.49 billion, up from USD1.34 billion a year ago. The company’s pretax profit surged to USD277.8 million, a significant increase from USD47.9 million in the same period last year. The increase in profitability was attributed to...
READ MORESpot silver prices have dropped below the critical $29.00 per ounce mark, despite a weakening U.S. dollar. According to FXStreet analyst Christian Borjon Valencia, the decline was driven by an increase in U.S. bond yields, which exerted downward pressure on silver. Valencia notes that silver ended Wednesday’s session 1.2% lower, closing at $28.88 per ounce....
READ MOREFresnillo, a leading Mexican precious metals mining company, reported a decline in gold and silver production for the second quarter of 2024, while noting an increase in lead and zinc output. The company has reaffirmed its annual production guidance for both gold and silver. In Q2 2024, gold production was recorded at 130,025 ounces, down...
READ MOREEV Resources is investigating previously unknown porphyry copper potential at its Khartoum project in Queensland, following strong new rock chip results. The company reported high-grade findings, including up to 71% copper and 874 grams per tonne silver, indicating the possibility of large-scale copper, molybdenum, and silver porphyry targets. The company is reviewing its extensive database...
READ MORESilver has emerged as one of the best-performing asset classes year-to-date, delivering a 24.7% return, surpassing gold’s 17% gain. This impressive performance is largely driven by robust industrial demand and supply constraints. Approximately 60% of silver’s total demand stems from industrial applications. Recent years have seen a significant uptick in this demand, particularly due to...
READ MOREOn Wednesday, July 17th, spot silver experienced a significant decline, falling by 3% despite the dollar’s weakness. According to FXStreet analyst Christian Borjon Valencia, the drop was driven by profit-taking, pushing silver prices below $31.00 per ounce. Spot silver closed at $30.29 per ounce, marking a 3.01% decrease, with prices reaching a session low of...
READ MORESpot silver prices jumped by more than 2% due to weak U.S. Consumer Price Index (CPI) data, triggering a sell-off of the U.S. dollar. FXStreet analyst Christian Borjon Valencia has analyzed the technical trends of silver prices in a new article released on Friday. Valencia noted that silver prices exhibited a ‘double-bottom’ pattern. The weaker-than-expected...
READ MORENew copper projects are set to bring additional production to the market over the next decade, but supply growth is likely to lag behind demand due to the green-energy transition, according to BMI, a unit of Fitch Solutions. Projects in Congo and Chile are expected to boost copper production from an estimated 27.8 million metric...
READ MOREEndeavour Silver has announced its second quarter 2024 production results, revealing a total output of 1,312,572 ounces of silver and 10,549 ounces of gold, translating to 2.2 million silver equivalent ounces (AgEq). The company’s year-to-date production has reached 4.4 million AgEq ounces, aligning with the upper range of the full-year 2024 production guidance of 8.1...
READ MOREHindustan Zinc, an integrated producer of zinc, lead, and silver under the Vedanta Group, reported its production and financial results for the first quarter of FY25. The company noted that mined metal production aligned with annual mine preparation activities, resulting in a 12% quarter-on-quarter (QoQ) decrease. Refined metal production reached 262,000 tonnes, showing a 1%...
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