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Ivanhoe Mines Targets Increased Copper, Zinc Production This Year

ByVictoria

The Canadian mining company on Wednesday set a 2025 production target of between 520,000 and 580,000 metric tons of copper at its Kamoa-Kakula operation. 

Ivanhoe expects to produce between 180,000 and 240,000 tons of zinc at its Kipushi zinc-copper-germanium-silver mine.

Ivanhoe said that during the last day of the year, a record 750 tons of zinc were produced over a 24-hour period, exceeding the operation’s nameplate capacity.

Source – Market Watch

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    Trump announced 25% tariffs on all vehicles and foreign-made auto parts imported into the United States late on Wednesday, prompting heavy losses in Japanese and South Korean stocks in Asian trading overnight.

    General Motors slumped 6%, while shares in Ford fell almost 5%, reflecting concerns about the impact on their supply chains.

    “Uncertainty on the tariff front remains high, which is really tough for both businesses but also investors to plan into the future, and of course it’s making it really difficult for investors to price risk,” said Baylee Wakefield, a multi-asset portfolio manager at Aviva Investors.

    Gold prices rose, up 0.7% on the day at $3,040 an ounce. Goldman Sachs raised its gold price forecast on Wednesday, citing stronger-than-expected ETF inflows and sustained central bank demand.

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  • Barrick gold seeks arbitration to settle disagreement with Mali

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    Barrick is a sector leading gold and copper production. One of the biggest in the world and comes in at 2nd in gold mining.

    “The miner this week threatened to suspend operations in Mali over deteriorating mine conditions. Jefferies analysts wrote in a note this week that closure of the mine would reduce Barrick’s earnings before interest, taxes, and amortization by 11% next year.”

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    Analysts poll on gold and silver

    ByVictoria
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    Analysts in a quarterly Reuters poll have forecast an average annual gold price above $3,000 for the first time, with global trade friction and a swing away from the U.S. dollar powering demand.

    The poll of 29 analysts and traders returned a median forecast of $3,065 per troy ounce of gold for this year, up from $2,756 predicted in a poll three months ago. The estimated price for 2026 rose to $3,000 from $2,700.

    The poll forecast an average 2025 silver price of $33.10 per ounce, unchanged from the previous survey. It has averaged $32 so far this year.

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    Silver breaks above $33.45

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    After briefly dipping to $32.66 last week, silver has regained the $33.45 pivot, which now serves as near-term support. The level is seen as a trigger for momentum trades, and a sustained move above it could drive a retest of the recent high at $34.24. A breakout above that zone would open the path toward resistance between $34.87 and $35.40. Conversely, a failure to hold $33.45 could expose the downside to the $32.53–$31.81 retracement range.

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    Gold and Silver to be legal tender in Florida

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    Gov. Ron DeSantis signed a bill on Tuesday that would recognize gold and silver as legal tender in the state, paving a path for Floridians to use the commodities in payment transactions.

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    Gold falls, trade war fears continue

    ByVictoria
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    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.

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    “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