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Indonesia trade ministry supports extending Freeport’s copper export permit

ByVictoria

Freeport’s last export permit expired at the end of 2024, but the company has requested it can continue selling copper concentrate abroad because its local copper smelter was in repair after a fire in October last year.

“The trade ministry supports a plan to relax the export policy after weighing the cost and benefit analysis … while also observing the sustainability of the government’s natural resource downstreaming policy,” deputy minister Dyah Roro Esti said in a statement.

Freeport Indonesia said that it’s currently negotiating with the government over the export permit and believed the government “would accommodate” it.

Source – Mining.com

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Riversgold secures 80% stake in Kalgoorlie Gold Project

ByVictoria
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Riversgold Ltd has exercised its option to acquire an 80% interest in the Kalgoorlie Gold Project’s Northern Zone in Western Australia after meeting the required A$600,000 minimum exploration expenditure.

Exploration efforts have identified a significant blind porphyry gold system, with widths of up to 600 metres and mineralisation extending beyond 400 metres in depth.

Source – Proactive Investors

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Silver Is Rebounding Following Its Year-End Selloff

ByVictoria
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Silver is making a strong comeback at the start of 2025, following a challenging year-end performance in 2024.

There is good reason to suspect that bullion banks have deliberately driven gold and silver prices lower at the close of 2024 to “paint the charts” and influence the yearly closing prices. Reports Jesse Colombo

Source – Money Metals

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Silver holding at $30ish, Can it keep up with Gold?

ByVictoria
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At 13:19 GMT, XAG/USD is trading $30.84, Unchanged.

Prices have also remained above the pivot at $30.53, which keeps the short-, medium-, and long-term trends firmly upward.

Daily Gold (XAU/USD)Gold, often viewed as silver’s counterpart, has outperformed with a breakout above $2,726.30, pushing prices closer to record highs at $2,790.17. 

A sustained rally above $30.53 and a breakout over $30.98 may open the door for further gains, but for now, silver remains in gold’s shadow.

Source – FXEMPIRE

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Over the Weekend!

ByVictoria
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Robert Kiyosaki Predicts Gold, Silver, Bitcoin Crash Over Trump’s Tariffs—Says It’s A Buying Moment

Kiyosaki said, “Trump tariffs begin: gold, silver, Bitcoin may crash.” He indicated his plan to purchase more Bitcoin if prices plummet, seeing it as an opportunity to grow his wealth. However, he also pointed out the U.S. national debt as a major problem that Bitcoin might not be able to address.

Source – Benzinga

BHP awards EPCM contract for copper smelter expansion in South Australia

Fluor president of mining & metals Harish Jammula said: “We are excited to support BHP on their growth plans to increase production of refined copper cathode in south Australia.

“Accelerated expansion of the downstream processing sector is increasingly important to secure local supply of mined materials, become independent of overseas supply and drive sustainable production technologies.”

Source – Global Data

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Silver prices rise, how high will it go?

ByVictoria
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“Silver is showing signs of relatively higher momentum with the price trying to breach the crucial US$ 33 level,” Emkay said

Given silver’s diverse industrial applications, its price is projected to rise from its current level, reaching $36.60, $38.70, and $39.30 on COMEX, it said.

“Investing in silver funds with a 12 to 18 months’ time horizon is likely to be a worthy proposition.”

The gold-silver ratio is currently around 90, which suggests that silver is currently undervalued.

Source – invezz