|

Copper mine collapse, 1 killed 5 trapped

A collapse at a copper mine in Chile killed one worker and left five trapped underground, authorities said on Friday, forcing Chile’s state mining company to suspend operations in the affected area of the world’s largest underground copper deposit.

Nine other mine workers suffered injuries, said Chile’s National Copper Corporation, known as Codelco, describing the incident as the result of “a seismic event.”

The U.S. Geological Survey reported a magnitude 5 earthquake in an area of central Chile where Codelco’s El Teniente mine is located, at 5:34 p.m. local time on Thursday. Authorities said they’re still investigating whether it was a naturally occurring earthquake or whether mining activity at El Teniente caused the quake.

“We are making every effort to try to rescue these five miners,” said Andrés Music, general manager of El Teniente. “The next 48 hours are crucial.”

Source – The Associated Press

Praying for these people to be rescued. -Victoria

Similar Posts

  • / /

    Gold-Silver Ratio exceeds 90:1

    Gold has reached new all-time highs, and the gold-to-silver ratio now exceeds 90:1. Such a high ratio has often signaled an impending breakout for silver prices. It indicates that silver could be undervalued, and we may be on the verge of a major price surge. Sometimes, if you miss a price run-up for gold, you can make up for it by buying silver instead as it catches up to its yellow cousin.

    Source – Seeking Alpha / SchiffGold

  • / /

    Marine Corps minted coins honoring 250th anniversary

    The coins are available in gold, silver and clad metals and can be purchased individually or as a set. The $5 gold coin depicts the Marine Corps Color Guard; the $1 silver coin shows the flag raising at Iwo Jima; and the half-dollar clad coin features two Marines, one wearing the continental uniform of 1775 with a musket, and the other in modern-day camouflage uniform holding an M4 service rifle.

    Source – Stars and Stripes

  • /

    India’s Hindustan Zinc sees strong 2025 growth on higher volumes, CEO says

    “We have gone through all our shutdowns and proprietary maintenance and all that in the first three quarters. We should be able to produce a stellar fourth quarter based on our numbers,” Misra told Reuters in an interview.

    Misra expects zinc prices to rise to $2,850-$2,950 a ton in the coming days from $2,800 currently, and silver to trade between $30 and $31 per ounce.

    Source – Reuters

  • / /

    Gold drops after inflation data, trade concerns loom

    Spot gold eased 0.2% to $2,893.87 per ounce as of 09:58 a.m. ET (1458 GMT). U.S. gold futures fell 0.4% to $2,920.60.

    Prices dropped over 1% after data showed the U.S. consumer price index jumped 0.5% last month, more than expected, reinforcing the Fed message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.

    “With today’s CPI data coming in hotter-than-expected, that has put weight on the gold market. Obviously at this point, any expectation that the market would have had of any type of rate cut later this year has now been put down,” said David Meger, director of metals trading at High Ridge Futures.

    Spot silver shed 0.7% to $32.05 per ounce and palladium fell 0.3% to $973.11, while platinum added 0.7% to $990.10.

    Source – Reuters

    More info!

    CPI – Consumer Price Index