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Idaho gold mine wins federal approval despite objection

ByVictoria

A contested mine in Central Idaho that will produce gold and antimony earned the U.S. Forest Service’s final approval following a lengthy environmental review and objections from the Nez Perce Tribe, which will lose access for decades to federal lands guaranteed by a U.S. treaty.

“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA,” Jon Cherry, Pepetua’s president and CEO, said in a statement.

“The tribe’s treaties with the United States are the supreme law of the land and remain binding,”

Source – Idaho Statesman

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    Silver in demand and up

    ByVictoria
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    On April 16, spot silver traded between $32.28 and $33.11. The white metal closed with a strong gain of 1.57 per cent at $32.90 as gold surged and the US Dollar Index and yields slumped.

    Per Silver Institute, silver industrial demand rose 4 percent in 2024 to 680.5 million ounces (Moz), reaching a new record high for the fourth consecutive year. 

    Source – Business Standard

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    Copper at record high $11,633 a ton

    ByVictoria
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    Unusually large shipments of copper to the United States are unlikely to abate as long as the threat of tariffs hangs over the market and price premiums for the metal on U.S.-based COMEX make deals profitable for traders and producers, analysts said.

    COMEX copper hit a record high at $11,633 a metric ton on March 26, creating a premium of more than $1,570 a ton against the benchmark contract on the London Metal Exchange.

    “We expect 250,000-300,000 tons of extra copper will be shipped to the U.S. over March-May because of the spread and amid the uncertainties regarding the tariff,” said Sharon Ding, head of China basic materials at UBS Investment Research.

    “It’s possible we’ll see more atypical cargos in the second half of May,” Kpler analyst Ben Ayre said. “While the COMEX price continues to run at a premium to the LME there’s a strong incentive to land refined copper in the United States.”

    Source – Reuters

  • “Richest shipwreck” gold coins confirmed

    ByVictoria
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    Experts have confirmed that dozens of gold coins scattered across the ocean floor off the coast of Colombia belonged to the San José, an ill-fated Spanish treasure galleon that sank over 300 years ago during a battle with British warships. The findings were published on June 10 in the journal Antiquity.

    The 64-gun, three-masted Spanish flagship alone carried as much as 200 tons of treasure with a modern value estimated as high as $17 billion by today’s standards.

    The key pieces of evidence were dozens of rough gold coins sitting on the ocean floor. The treasure had an average diameter of 1.3 inches and each weighed around one ounce.

    “Hand-struck, irregularly shaped coins—known as cobs in English and macuquinas in Spanish—served as the primary currency in the Americas for more than two centuries,” Daniela Vargas Ariza, a maritime archeologist and the study’s lead author said in a statement.

    Source – Popular Science

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    Africa’s copper market continues to grow

    ByVictoria
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    Africa’s copper industry is poised for growth in 2025, with the Democratic Republic of Congo (DRC) and Zambia – the continent’s largest producers – leading market expansion. Both countries are investing in new production mines, mineral exploration campaigns and the modernization of existing facilities to increase output.

    Source – Sweet Crude Reports

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    2025 Uncirculated coin set

    ByVictoria
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    The 20-coin 2025 Uncirculated Coin Set is slated for sale to the general public by the United States Mint beginning at noon Eastern Time July 17.

    The sets are offered at $33.25 each, with a maximum output of 190,000 sets, offered without household order limits.

    Each set contains two separate blister-pack folders of 10 coins each, one pack apiece from production at the Philadelphia and Denver Mints. Coins included in the set have an Uncirculated finish but are struck to higher standards than their circulating counterparts.

    Source – Coin World