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Copper safe from tariffs

ByVictoria

The red metal, along with pharmaceuticals, semiconductors and lumber, earns an exemption from “reciprocal” tariffs on most goods entering the U.S.

Referred to in a White House fact sheet as “responsive tariffs,” President Trump spells out the rationale for and specific examples of other nations’ tariffs in that April 2 fact sheet, fully titled “Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security.”

“Some goods will not be subject to the Reciprocal Tariff”

“Copper, pharmaceuticals, semiconductors and lumber articles”

Source – Recycling Today

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    Ivanhoe Mines Unveils Independent Phase 2 and Phase 3 Expansion Studies

    ByVictoria
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    Mokopane, South Africa–(Newsfile Corp. – February 18, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that the company’s subsidiary, Ivanplats, and its partners, welcome the positive and significant results from two independent technical studies completed on the Phase 2 and Phase 3 expansions of the tier-one Platreef platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa.

    Ivanhoe Mines’ Founder and Co-Chairman, Robert Friedland commented: “The results of these studies mark the culmination of three decades of tireless efforts by thousands of our people to discover, then delineate, and finally build a world-class, polymetallic mining complex that will have a life span of many human generations.

    Source – Junior Mining Network

    Fantastic study and very detailed article to fill your day with. -V. 🙂

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    Over the Weekend!

    ByVictoria
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    The US is moving towards sound money movement

    “Everything else that could function as money has been saddled with taxes and disincentives,” Jp Cortez explained, emphasizing how the current monetary system traps people in the Federal Reserve’s fiat currency.

    “Ten years ago, only a handful of states were considering sound money policies. Last year, more than 27 states introduced over 65 bills related to sound money.”

    Source – Money Metals

    Sound money – refers to a reliable and stable medium of exchange that maintains its value over time.

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    Kentucky vetos House Bill 2

    ByVictoria
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    In a landmark victory for coin dealers, collectors, and investors, the Kentucky General Assembly has overridden Governor Andy Beshear’s veto of House Bill 2, officially enacting a sales-tax exemption for currency, bullion, and coins.

    Introduced Jan. 10, 2025, HB 2 passed the House with a 76–17 vote and the Senate with a 30–6 vote earlier this year. The veto override, finalized on March 27 with an 80-19 vote in the House and an 31-6 vote in the Senate, marks the successful conclusion of a year-long effort to protect Kentucky taxpayers.

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    100K-150K metric tons of copper to arrive in the US

    ByVictoria
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    The U.S. will soon be flooded with massive amounts of copper shipments in a global rush to front-run President Trump’s probable tariffs, with 100K-150K metric tons of refined copper expected to arrive in U.S. ports in the coming weeks, which potentially would surpass the all-time record of 136,951 tons set in January 2022, Bloomberg reported Wednesday.

    Goldman Sachs analysts said they expect all forms of copper shipped to the U.S. to be hit with tariffs by year-end, keeping Comex prices at a hefty premium over other benchmarks, and noted that tariffs could cause China to refine 10K-20K tons/month less copper within the first three months – in a global market that Goldman already expected to face a 180K-ton deficit this year.

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    Gold hits another record high

    ByVictoria
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    Spot gold was up 2.2% to $3,299.85 an ounce as of 1107 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3% to $3,315.80.

    “Trump’s trade war shows no signs of easing… sparking a fresh move towards safe havens and out of stocks,” said Ole Hansen, head of commodity strategy at Saxo Bank.

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    Source – Reuters

  • Mining in Peru suspended

    ByVictoria
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    Mining in Peru’s northern district of Pataz will be suspended for 30 days, President Dina Boluarte said on Monday, after 13 gold mine workers in the area were kidnapped and killed by illegal miners.

    On Sunday, miner Poderosa said the bodies of 13 workers from a local firm, R&R, which held a mining contract with Poderosa, had been recovered by police after they were kidnapped last month.

    “The armed forces will take control of the area where Poderosa operates,” Boluarte said, but did not provide details on how the mining pause would work.

    Peru is the world’s third-largest copper producer, but the deposits of the red metal are largely in the south. Gold and silver are mined in the north.

    Jorge Montoro, said the 30-day pause could be extended.

    Source – Reuters