Copper’s rising importance: U.S. Gold Mining’s Whistler Project and its role in domestic resource security – CEO Tim Smith
(Kitco News) - Copper plays a critical role in the energy transition, said Tim Smith, CEO of U.S. Gold Mining, adding that the company’s Whistler Project in Alaska is a vital asset in meeting growing demand.
Australia grants further $257m for Iluka’s rare earths refinery amid cost blowout
Australia will grant an additional A$400 million ($257.20 million) loan to Iluka Resources to develop its rare earths refinery in Western Australia, which will also see the critical minerals miner shell out more money than committed.Iluka on Friday said the federal government is granting the additional loan on top of the A$1.25 billion loan offered in 2022. The miner will have to cough up an extra A$214 million in cash equity on top of the A$200 million cash equity and stockpile already earmarked for the project.
Gold ETFs register first outflow in seven months, says WGC
Global physically backed gold exchange-traded funds (ETFs) registered outflows in November after six consecutive months of inflows as Europe-listed funds reduced their holdings, the World Gold Council (WGC) said on Thursday.Gold ETFs store bullion for investors and account for a significant amount of investment demand for the precious metal, which is down 5% since hitting a record high of $2,790.15 an ounce on Oct. 31.
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.