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BHP Group may sell Australian operations

Mining giant BHP Group flagged rising costs and delays at a giant potash project in Canada and said it may sell its Australian nickel operations, as it reported record annual iron ore and copper production.

The company said Friday it faces rising costs at the Jansen potash project in Canada’s Saskatchewan province, its only major development currently under construction.

The company said it is also reviewing Jansen’s second stage, which is roughly 11% complete. BHP may delay first production from that expansion by two years, to fiscal 2031, because it reckons there might be more potash supply coming into the market over the medium term than previously envisaged.

BHP said it expects to produce between 1.8 million and 2.0 million tons of copper in the year ahead.

Source – The Wall Street Journal

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  • Arizona “Copper State”, growing demand for ore raises fears to locals

    First, I had no idea that Arizona has a couple of nicknames one of them being “Copper State”. Pretty interesting fact.

    I wanted to share this article because there are mining companies here in the United States that are not talked about enough or just don’t get attention. Being interested in precious metals myself, I’d like to know what’s going on with this particular interest and certain information whether it pertains to me or not, but I felt this was interesting because the locals of this area in Arizona are having to deal with certain changes.

    I would like to include more of these types of articles in the future if anyone is interested but all things precious metals deserve to be know, I feel.

    News!

    One of North America’s largest known undeveloped copper deposits, with visions of multiple open pits and a tailings dump stretching down from the mountains toward the narrow Sycamore Canyon’s far rim.

    “You come here for some peace and quiet,” Corona de Tucson resident Kevin Kennedy said, “and a mine is anything but.” reported Brandon Loomis

    The neighbors and regional environmental groups all make the case that the Sky Islands in general and the Santa Ritas in particular are no place for a massive new mine with multiple open pits. The mountains are home to rare birds and occasionally rarer mammals, like the jaguar, and are considered one of the nation’s most biologically diverse mixing zones of tropical, desert and Rocky Mountain species.

    “There are places that are so precious that they shouldn’t be mined,” said Rob Peters, who directs the local advocacy group Save the Scenic Santa Ritas.

    Source – Arizona Republic

    Would you like to see more?

    I will soon do an article on copper and it’s investing benefits, pros and cons in the near future but please let me know if this is something you would like to see or if you like the news style.

    It’s been quite fun posting updates on the precious metals world, and I’d like to know your point of view, likes or dislikes. I would like to hear from you!

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    Gold up 1.7%

    Futures are up 1.7% at $3,350.60 a troy ounce and on track for weekly gains of nearly 4%.

    “Without a fundamental shift in U.S. fiscal policy, the implications of rising borrowing costs and widening fiscal deficits means the U.S. is on an unstable fiscal policy path, which could lead to heightened market volatility,” says Fawad Razaqzada, analyst at Forex.com.

    Source – The Washington Street Journal

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    Gold and Silver up by 1%

    Gold prices rose more than 1% on Tuesday as a weaker dollar and uncertainty over U.S. tariffs, along with concerns about the country’s fiscal outlook, drove investors towards safe-haven assets.

    Spot gold climbed 1.4% to $3,349.32 an ounce by 1203 GMT while U.S. gold futures jumped 1.6% to $3,361.70.

    Spot silver firmed 0.9% to $36.41 an ounce, platinum was down 0.1% at $1,351.80 and palladium gained 2.5% to $1,124.79.

    Source – Reuters

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    Mako Mining Corp. Low cost, high margin gold producer

    Mako Mining Corp. presents a compelling investment opportunity as a low-cost, high margin gold producer with strong operational momentum, optionality in exploration potential, management excellence and imminent catalysts supported by a clean balance sheet.

    With gold price hovering around $2,900/oz as of March 2025—more than double San Albino’s all-in sustaining cost (AISC) of $1,370/oz—Mako Mining is well positioned to generate sustainable cash flow which the management can put into work to grow the company’s production with a high ROIC or credible M&A (the company management showed their capital allocation excellence multiple times).

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    U.S. Mint launched a Gold Coin

    Released May 28, the listed price of the 2026-W Enhanced Uncirculated American Gold Eagle is $5,370.

    The product, which would be limited to 7,500 pieces, is currently unavailable, but interested buyers can sign up to be notified the next time it is in stock.

    It’s composed of 91.67% gold, 3% silver, and the rest is copper.

    Source – AL.com