Mining

Silver could outperform gold again next year, spot price forecast to hit $40/oz in 2025 – Heraeus

(Kitco News) – While a likely U.S. recession in Q2 would impact industrial demand for silver, most of the gray metal’s recent strengths are expected to carry over into the new year, and the price of silver is projected to outperform gold in 2025, according to analysts at Heraeus Precious Metals.

Dec 11, 2024 - 12:52 PM

Chilean mine proposal could face Supreme Court review, environment minister says

An iron and copper mining project in northern Chile that has raised environmental concerns could eventually face scrutiny by the Supreme Court, the environment minister said on Tuesday, after a local tribunal annulled a 2023 denial of a proposal for the $2.5 billion Dominga mine.Chile’s Andes Iron has attempted for years to develop the project in the Coquimbo region, but faced opposition from environmentalists. It became a symbol of permitting and environmental challenges in Chile, the biggest copper-producing country.

Dec 10, 2024 - 11:14 AM

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout

(Kitco News) – Spot silver gained 4.6% in 10 hours on Monday to top out at $32.268 per ounce, its highest level since precious metals sold off following the U.S. election in early November. According to Eran Tal in the Jerusalem Post, the gray metal is being supported by bullish technical patterns, declining SLV short sales, and rising industrial demand, and a break above key resistance levels could trigger a powerful rally.

Dec 10, 2024 - 10:45 AM

Freeport’s copper concentrate exports will only temporarily ease global shortages

London – Copper concentrate exports from Freeport-McMoRan’s unit in Indonesia will ease global shortages, but probably only briefly and if the Indonesian government allows them, industry sources said.Shortages due to stoppages, including at operations owned by First Quantum, and China’s massive expansion of smelters to produce copper metal have intensified competition for concentrate since last year.

Dec 09, 2024 - 11:04 AM

Perpetua Resources and Sunshine Silver to explore antimony processing in Idaho

Perpetua Resources said on Monday its Idaho unit has signed a non-binding agreement with private firm Sunshine Silver Mining & Refining to explore the processing of antimony, amid a brewing trade war between the US and China over critical minerals.Shares of Perpetua rose 7.4% in premarket trade.Under the agreement, the companies will assess the technical potential for processing and refining antimony from Perpetua’s Pentagon-backed Stibnite antimony and gold project at the Sunshine Mine Complex in Idaho.

Dec 09, 2024 - 11:02 AM

China’s central bank resumes gold purchases after six-month hiatus

China’s central bank resumed buying gold for its reserves in November after a six-month pause, official data by the People’s Bank of China (PBOC) showed on Saturday.The PBOC was the world’s largest official sector buyer of gold in 2023. Resumption of its purchases may support Chinese investor demand which was muted since the PBOC paused its 18-month buying streak in May.China’s gold holdings rose to 72.96 million fine troy ounces at the end of November, up from 72.80 million troy ounces a month earlier.

Dec 09, 2024 - 10:59 AM

Rattled by China, West scrambles to rejig critical minerals supply chains

China’s trade restrictions on strategic minerals are starting to hit Western companies where it hurts.Blaming Beijing’s curbs on antimony exports announced in August, German chemicals and consumer goods heavyweight Henkel told customers last month it had declared force majeure and suspended deliveries of four types of adhesives and lubricants widely used by automakers, according to a Nov. 8 letter to clients reviewed by Reuters.

Dec 09, 2024 - 10:57 AM

Ukraine’s key coking coal mine still operating as Russians close in

A coal mine in the eastern Ukrainian town of Pokrovsk, the sole domestic supplier of coking coal to the steel industry, continues to operate as Russian troops approach, an industry source said on Friday.Ukrainian military analyst DeepState said Russian troops were less than 7 km (4.4 miles) from Pokrovsk’s outskirts. The mine lies 10 km (6.2 miles) west of the town, a strategic supply hub, in the opposite direction to the advancing Russian forces.“The mine continues to operate at the same volume as in recent weeks,” said the source, who asked not to be named.

Dec 09, 2024 - 10:36 AM

Adani smelter expansion will cut India’s refined copper imports, government says

New Delhi – India will no longer need to rely on refined copper imports once billionaire Gautam Adani’s new copper smelter ramps up its capacity, the federal Ministry of Mines said on Friday.India, which identified copper as a critical mineral last year, relies on imports to address shortfalls and meet the robust demand in the world’s fastest-growing major economy.Copper’s main consumers include the construction sector, home appliance manufacturers, and industries involved in the green energy transition, such as electric vehicles, solar, and wind power plants.

Dec 06, 2024 - 11:12 AM

Dealmaker Hannam sues Randgold for up to $18 mln over Barrick merger work

LONDON, Dec 6 (Reuters) - Dealmaker Ian Hannam is suing Randgold Resources for up to $18 million he says he is owed for work on its acquisition by Canada's Barrick Gold (ABX.TO), telling a London court on Friday that the gold miner reneged on their agreement.

Dec 06, 2024 - 10:35 AM

Chile aims to invest $83bn in mining through 2033, newspaper says

Chile plans to invest about $83.18 billion from this year through 2033, state-run agency Cochilco said in a study cited in a newspaper report on Tuesday, an increase of 27% from last year’s estimate.Set to be presented on Wednesday, the Cochilco report will list some 51 projects in the South American nation, which is the world’s largest producer of copper and second-largest of lithium, a key ingredient of rechargeable batteries.

Dec 06, 2024 - 10:07 AM

Mining

Silver could outperform gold again next year, spot price forecast to hit $40/oz in 2025 – Heraeus

Copper output from Codelco flat in October, BHP’s Escondida rises

US offers six companies contracts to make uranium fuel for nuclear plants

Bougainville’s independence path relies on economy, says PNG’s Marape

Glencore ties up with Cyclic Materials in copper recycling push

Chilean mining firms see 2025 copper output at 5.4-5.6 million tons

Polyus says sanctions will double cost of Siberian gold deposit

Gold price could extend record run into 2025, Heraeus says

Nornickel says sees global nickel surplus of 150,000t in 2024-2025

Lithium supply surplus set to stay with battery makers’ help

Chilean mine proposal could face Supreme Court review, environment minister says

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout

Freeport’s copper concentrate exports will only temporarily ease global shortages

Perpetua Resources and Sunshine Silver to explore antimony processing in Idaho

China’s central bank resumes gold purchases after six-month hiatus

Rattled by China, West scrambles to rejig critical minerals supply chains

Ukraine’s key coking coal mine still operating as Russians close in

Adani smelter expansion will cut India’s refined copper imports, government says

Dealmaker Hannam sues Randgold for up to $18 mln over Barrick merger work

Chile aims to invest $83bn in mining through 2033, newspaper says