|

BHP and Canada’s Lundin Mining extend mining time

ByVictoria

Vicuña Corp, a joint venture of Australia’s BHP and Canada’s Lundin Mining (LUN.TO), opens new tab, on Thursday said it was extending the useful life of its Josemaria copper, gold and silver project in Argentina by six years.

It attributed the longer useful life of the mine, now 25 years instead of 19 years previously, to higher levels of exploitable resources.

Vicuña also predicted an ore processing rate at the site, located in Argentina’s north-western San Juan province, near the Chilean border, at 175,000 metric tons per day.

Source – Reuters

Similar Posts

  • /

    Silver up 1.2%, dollar hits lowest in months

    ByVictoria
    0 Comments

    Silver gained as much as 1.2%, rising for a third day. A guage of the dollar hit the lowest in about three months, as the euro strengthened amid Germany’s plan to boost spending and loosen borrowing restrictions.

    The “tidal wave” of silver risks pushing freely available silver in the London spot market below a critical threshold needed for the market to function, Daniel Ghali, a senior commodity strategist at TD Securities, recently wrote in a note.

    Spot silver rose 0.9% to $32.262 an ounce as of 11:41 a.m. in London. The Bloomberg Dollar Spot Index fell 0.4%. Gold and palladium were little changed, while platinum advanced.

    Source – Mining.com

  • /

    Copper is trading higher than earlier this year

    ByVictoria
    0 Comments

    Despite the losses of the last few days, the Copper price on the Comex is up a good 25 percent since the beginning of the year, almost on a par with tin. But on the LME, too, Copper is trading around 10 percent higher than at the beginning of the year, Commerzbank’s commodity analyst Barbara Lambrecht notes.

    Source – FX Street

  • /

    Gold prices with latest tariff concerns

    ByVictoria
    0 Comments

    Gold prices experienced a modest uptick on Monday, rising 0.1 percent to $3,040.57 per ounce. Spot gold rose 0.1 percent to $3,040.57 an ounce as of 7:39 a.m. ET, rebounding after dipping to a session low of $2,971.09 earlier, when some investors sold off bullion to offset losses elsewhere, Reutersreported.

    The imposition of the tariffs has intensified fears of a global recession. Investors are increasingly seeking safe-haven assets like gold to hedge against potential economic downturns. However, the recent sell-off in gold suggests that investors may be liquidating positions to cover losses in other markets, reflecting concerns over the widespread impact of a trade war.

    “Once the dust settles, the rising recession risks, a weaker dollar, lower real yields and bigger rate cut expectations will all play their part in supporting a rebound….

    “Gold’s correction remains a relatively shallow one with key support levels holding.” said Ole Hansen, head of commodity strategy at Saxo Bank

    Source – Reuters

  • /

    Gold higher today rising to .3%

    ByVictoria
    0 Comments

    Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite.

    Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session.

    “There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade Chief Market Analyst Tim Waterer said.

    “The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,” Waterer said.

    Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48

    Source – Reuters

  • /

    Everything about buying gold at Costco

    ByVictoria
    0 Comments

    Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products:

    • 1 oz. gold bar PAMP Suisse Lady Fortuna Veriscan
    • 1 oz. gold bar Rand Refinery (online only)
    • 2025 1 oz. American Buffalo gold coin
    • 1 oz. gold bar PAMP / Newmont Lady of Liberty (online only)
    • 100-gram gold bar Rand Refinery

    Costco’s selection comes from authorized dealers and reputable mints. However, as Costco members are accustomed to, offerings and availability may change.

    Costco marks up its cost for gold by roughly 2%. Markup is common practice among gold dealers and retailers, and 2% is on the low end of industry standards.

    Source – CBS News

  • /

    Barrick Mining maybe under provisional administration

    ByVictoria
    0 Comments

    A Malian court has adjourned to Thursday a hearing on whether to put Barrick Mining’s Loulo-Gounkoto gold complex under provisional administration, the court’s registry office and one of the lawyers involved told Reuters on Monday.

    Granting the request would represent a major escalation of a dispute between the West African country and the Canadian miner after operations at the complex were suspended in January in a dispute over taxes and ownership.

    Barrick has said it can only resume operations when the Malian government removes restrictions on gold exports.

    The government has renegotiated agreements with other multinational miners under the new mining law. Four Barrick employees have been detained since November 2024 and an arrest warrant was issued for Chief Executive Mark Bristow in December 2024.

    Source – Reuters