Legislation introduced in the House March 10 seeks a two-coin program for 2027 commemorating the 25th anniversary of the Sept. 11, 2001, terrorist attacks on the United States. The issue date is a year past the anniversary, to avoid conflicting with the semiquincentennial initiatives.
Source – Coin World
Barrick is a sector leading gold and copper production. One of the biggest in the world and comes in at 2nd in gold mining.
“The miner this week threatened to suspend operations in Mali over deteriorating mine conditions. Jefferies analysts wrote in a note this week that closure of the mine would reduce Barrick’s earnings before interest, taxes, and amortization by 11% next year.”
“Mali, under interim President Assimi Goita, has increased pressure on western miners in a bid to raise its revenue share from gold mines. In the last two months, the junta has detained senior executives of western miners, including employees of these companies for alleged non-payment of mining taxes.” Source – https://www.msn.com/en-ca/money/economy/barrick-gold-seeks-arbitration-over-mali-gold-mine-dispute/ar-AA1w6s2W?ocid=socialshare
In India, domestic prices hit an all-time high of 80,034 ($927.69) rupees per 10 grams on Friday, tracking the international spot gold prices and hovering near a record high of $2,790.15 hit on Oct. 31.
“Retail demand was negligible this week due to the price rise. Most jewellery stores were witnessing thin footfall,” a Chennai-based bullion dealer said.
Chinese gold prices are higher again and close to historical highs, which has sucked out demand but some people are still buying due to the holiday season starting next week, said a mainland China-based precious metal trader.
Source – Reuters
A California man was sentenced to 6½ years in prison Tuesday for his role in ongoing “government impostor” gold-bar scams that are costing Americans millions every year.
“This is a national epidemic,” prosecutor Hannah Gleason said in a courtroom in Montgomery County, Maryland, which has been hit hard by the complex frauds. “These are highly organized criminal organizations.”
The case at hand cost a 64-year-old woman, living in Montgomery’s Leisure World community, $789,000. She had counted on the savings to fund the medical needs of herself and other family members and now fears she may lose her home, Gleason said.
“She worries about her financial security and financial health,” Gleason said. “This has caused great emotional distress and impact to her, and has led her to believe she can’t trust people.”
Source – The Washington Post
Please be careful out there everyone. People are getting scammed everyday and our older community are the targets…usually. It’s really unfortunate for this lady who knows how many others have had this happen to them too. Be safe! – V.
Freeport’s last export permit expired at the end of 2024, but the company has requested it can continue selling copper concentrate abroad because its local copper smelter was in repair after a fire in October last year.
“The trade ministry supports a plan to relax the export policy after weighing the cost and benefit analysis … while also observing the sustainability of the government’s natural resource downstreaming policy,” deputy minister Dyah Roro Esti said in a statement.
Freeport Indonesia said that it’s currently negotiating with the government over the export permit and believed the government “would accommodate” it.
Source – Mining.com
At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741
The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.
Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty.
Source – FXSTREET
NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.
New Gold’s copper production was at 14.5 million pounds for the fourth quarter, up 20% year over year. The annual copper production totaled 54 million pounds, within the company’s guidance of 50-60 million pounds.
The New Afton mine produced 19,652 ounces of gold and 14.5 million pounds of copper in the fourth quarter. Gold production increased 19% and copper production rose 15% from the third quarter of 2024. The B3 cave performed per expectations.
Source – Zacks