The Rochester mine, part of Coeur Mining, is on track to meet its full-year 2024 production guidance, with plans to process 8.0 million tons of ore per quarter in the second half of the year. The company anticipates producing between 4.8 to 6.6 million ounces of silver and 37,000 to 50,000 ounces of gold for the year. Mitchell J. Krebs,...
Silver news
Silver Surges Over 4% as Dollar Weakens, Bulls Target $30/oz
Spot silver surged by more than 4% on Thursday, closing the session at $29.86 per ounce, driven by a weakened U.S. dollar and positive technical momentum. According to FXStreet analyst Christian Borjon Valencia, silver prices saw a sharp rally from a daily low of $28.54 per ounce, peaking at $29.90 as the U.S. Dollar Index (DXY) dropped 0.5%, closing at...
Spot Silver Falls Below $28 as Downward Trend Continues
In Wednesday’s Asian trading, spot silver extended its downward movement, dropping below the key $28.00 per ounce barrier after a significant decline the day before. Spot silver closed Tuesday’s session 1.77% lower at $28.03 per ounce, and by mid-Wednesday, prices had fallen further to $27.90 per ounce. FXStreet analyst Christian Borjon Valencia highlighted that this break below $28.00/oz opens the...
Vedanta Plans to Establish Aluminium and Silver-Zinc Industrial Parks in India
Vedanta, the Indian multinational mining giant, has announced plans to develop two new industrial parks focused on aluminium and silver-zinc production. The news was shared by Vedanta’s chairman, Anil Agarwal, on LinkedIn on August 28, where he hinted at future projects for similar parks in the oil & gas and iron & steel sectors. In his post, Agarwal emphasized that...
Zijin Mining Group Cautious on Global Acquisitions Amid Economic Uncertainty and Geopolitical Tensions
Chinese mining giant Zijin Mining Group Co. has expressed concerns about revising its strategy for acquiring assets abroad through mergers and acquisitions, citing a slowing global economy, rising geopolitical tensions, and increasing project costs. This cautionary stance was highlighted in a recent press release from the company. China’s pivotal role in global mining supply chains, particularly for minerals essential to...
KGHM Set to Launch Production of Investment-Grade Gold and Silver Bars by Late 2024
KGHM, a major copper producer, is preparing to launch the production of cast gold and silver bars at its “Glogow” Copper Smelter, with sales expected to begin between the third and fourth quarters of 2024. Piotr Krzyzewski, KGHM’s deputy CFO, announced during an investor chat that the company is currently focused on establishing the necessary infrastructure, including appropriate machinery and...
Santacruz Reports Strong Q2 2024 Performance Amid Favorable Metal Prices
Santacruz reported solid financial and operational results for the second quarter of 2024, driven by strong metal prices and robust production. The company processed 500,755 tonnes of material in Q2, bringing the total for the first half of 2024 to 971,504 tonnes. This resulted in the production of 4,819,552 silver equivalent ounces for the quarter and 9,297,674 silver equivalent ounces...
Hecla Mining Reports Record Second Quarter Results with High Silver and Gold Production
Hecla Mining Company has announced its financial and operational results for the second quarter of 2024, marking significant achievements in silver and gold production. Hecla reported the production of 4.5 million ounces of silver, the second-highest in the company’s history. Lucky Friday Mine achieved its highest silver production since 2000, with 1.3 million ounces, supported by record mill throughput of...
Silver Falls Below Key Average as Investors Flock to Safe Havens
On Monday, spot silver experienced a sharp decline, dropping more than 4.5% and falling below the key 100-day moving average. The price closed at $27.23 per ounce after reaching a session low of $26.49. This significant drop reflects a deteriorating risk appetite amid weak U.S. economic data, as noted by FXStreet analyst Christian Borjon Valencia. The decline in silver prices...
Hindustan Zinc Reports Strong Q1 FY25 Results with Record Production and Profit Growth
Hindustan Zinc, a leading integrated producer of zinc, lead, and silver under the Vedanta Group, has reported robust financial and operational performance for the first quarter of FY25, ending in June 2024. The company’s revenue from operations rose by 12% year-over-year to ₹8,130 crore, driven by increased metal volume and higher metal and silver prices, supported by a strong dollar....