Video News/Kitco Mining

The disconnect between gold prices and gold equities are explained by central bank precious metal purchases, said Wheaton Precious Metals CEO Randy Smallwood. On Friday, Smallwood spoke to Kitco Mining. Smallwood noted the closure of First Quantum’s Cobre Panama mine, one of the world’s top copper mines. It puts the emphasis on social license to operate. Copper is going to be an essential metal for energy transition. “It’s a shame that happened,” said Smallwood. “It's not good for the industry as a whole. It's not good to have this: ‘No copper in my backyard approach.’ That's not healthy for society.”