Chilean miner Antofagasta said on Wednesday its copper production rose 11% to 314,900 metric tons in the first half of 2025, on higher production from its two concentrators.
The London-listed company left guidance for full-year copper output unchanged between 660,000 and 700,000 tons.
Source – Reuters
Moonlight – Superior project in California
The study envisions a mine life of 14 years, producing 903,000 tonnes of copper, plus 12 million oz. of silver and 63,000 oz. of gold. A majority of the production will come from mining the sulfide mineralization at Moonlight-Superior.
US Copper CEO Stephen Dunn said the PEA, which a culmination of several years of planning, drilling, metallurgical testing and engineering studies, confirms “substantial economic opportunity” at current copper prices that can be realized through the development of a series of open pit mines on the property.
PEA – preliminary economic assessment
NPV – Net Present Value
Source – Mining.com
Source – MSN
Idaho Strategic Resources Inc – is a resource based company that develops and extracts precious metals like gold, silver and base metal minerals in North Idaho.
Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000.
Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00.
Source – Silver Seek
Gold prices are expected to continue being volatile in the near future on the back of uncertainties regarding US President Donald Trump’s tariff policies, the approaching July 9 deadline, possible trade deals, and the fresh threat of additional 10% tariffs on BRICS countries that align with ‘anti-American policies’.
Source – The Times of India
“The de-escalation of tensions in the Middle East is the primary factor that’s weighing on gold. The safe-haven bid has diminished and the market is in more of a risk-on mode,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
“We’ve got pretty good support around $3,300 and then even better support probably at $3,250.”
Global shares surged and the dollar dropped on Tuesday after news of the ceasefire between Israel and Iran, while markets shrugged off what U.S. President Donald Trump called violations by both sides.
Source – Reuters
Spot gold fell 0.6% to $2,934.99 an ounce as of 09:55 a.m. (1455 GMT), after reaching $2,956.15 on Monday.
U.S. gold futures declined 0.5% to $2,948.60.
Trump said on Monday that tariffs on Canadian and Mexican imports were “on time and on schedule”
“I still think that there’s enough uncertainty out there associated with tariffs (and) trade more generally… dips are going to continue to be viewed as buying opportunities,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Spot silver shed 1.2% to $31.96 an ounce, platinum dropped 0.8% to $959.35 and palladium lost 0.8% to $932.50.
Source – Reuters