VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.
Source – Globe News Wire / Yahoo Finance
The Ministry of Commerce and Industry said in a statement Thursday it revised import figures from April to November after discovering the discrepancy, which had resulted from migrating to a new data transmission system.
The miscalculation led to a four-fold increase in gold imports to a record $14.8 billion in November, causing the trade deficit to widen to $37.8 billion.
Preliminary revisions show gold imports were $37.39 billion in the April-November period, down $11.7 billion from previously reported.
Source – Bloomberg / Live Mint
“These projections are supported by a rise in copper demand from the energy transition, electricity grids and a limited supply,” Claudia Rodriguez, Cochilco’s interim VP, said in a statement, adding that geopolitical tensions also played a role.
“Uncertainty about China’s economic recovery, tariffs implemented by the United States and the hardening of monetary policy could limit the demand for copper, affecting its price,” Rodriguez said.
It also expects Chile’s copper production to rise by 4.6% this year to 5.76 million tons and grow another 3.6% to 5.97 million tons in 2026.
Source – Mining.com
News is from 1/14/2025
This is a follow up on Barrick Gold and it’s current mining situation.
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally, the interim attachment order on the gold has now been executed by the Malian government by moving the existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.
As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work towards a resolution.
Barrick remains committed to constructive engagement with the Malian government and all stakeholders to find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and its vital contribution to Mali’s economy and communities.
Source – Barrick
Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.
According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.
Source – US News / Reuters
On Wednesday, TD Securities shifted its stance on ERO Copper Corp (ERO:CN) (OTC: ERRPF), raising the stock rating from Hold to Buy, while adjusting the price target to Cdn$23.00, down from the previous Cdn$26.00. The upgrade reflects a change in sentiment based on the company’s current share price and its future growth prospects.
The analysts at TD Securities anticipate a significant turnaround in free cash flow (FCF) starting in the second quarter of 2025. They project a 95% year-over-year improvement in copper production for the current year, with expectations for continued growth into 2026.
Source – Investing.com
