Chile’s state-owned Codelco, the world’s largest copper producer, said on Wednesday it would supply copper concentrates to India’s Adani Group’s $1.2 billion smelter, the world’s biggest single-location plant of its type.
The supply will begin this year, said Codelco
Codelco also separately signed a preliminary agreement with Hindustan Copper to cooperate on exploring and processing minerals.
Source – Reuters
Silver prices in India ended the week higher, closing at ₹1,01,522 per kg on Friday, March 28, 2025. The metal gained ₹209 (0.21%) on the Multi Commodity Exchange (MCX) for May delivery, with a turnover of 22,870 lots.
Silver remains one of the top-performing assets of FY25, delivering a 35.56% return, surpassing gold (+31.37%), Nifty (+5.29%), and Sensex (+4.96%).
Max Layton, Global Head of Commodities at Citi, expects silver to trade between $34-$35 per ounce over the next 3-6 months.
Source – CNBC TV18
If we can break above $31, then it opens up a much bigger move for silver, and it is worth noting that gold looks like it’s trying to break out, but silver, as you probably know, isn’t gold.
U.S. President Donald Trump hasn’t yet imposed import tariffs on copper but the market is already pricing in the likelihood that the red metal will be next on the list after aluminium and steel.
The arbitrage between the CME and the London Metal Exchange (LME) contracts has blown wider in recent days, with the CME premium exceeding $1,000 per metric ton earlier this week.
Source – Reuters / Written by Andy Home / Opinion
Anglo American said it does intend to sell the remainder of its retained shares over time, and said that it will not hold any representation on the Anglo American Platinum board after the split.
Source – Morning Star
Spot gold shed 0.4% to $2,927.95 an ounce by 1204 GMT. Bullion has gained around 1.6% this week after rising to a record $2,954.69 on Thursday.
“The non-stop rally since December remains unchallenged unless prices drop to around $2,850,” said Ole Hansen, head of commodity strategy at Saxo Bank.
“Gold has been displaying resilience with short-lived retracements, as lingering U.S. trade uncertainties reinforce its appeal as a hedge,” IG market strategist Yeap Jun Rong said.
Spot silver was flat at $32.92 an ounce, and palladium dipped 0.3% to $974.75. Both metals were headed for weekly gains.
Platinum shed 0.2% to $976.80 and eyed a weekly decline.
Source – Reuters
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