NASA scientists estimate that there are almost 20 million tons of gold dissolved in the water of the seas and oceans.
Estimates suggest that nearly 20 million tons of gold are dissolved in seawater. However, the concentration of this metal is extremely dilute across a vast volume of water, making its extraction highly complex.
Source – AS USA
South Africa’s rand strengthened on Monday, as gold hit a fresh high and optimism grew over the prospect of an agreement between the two biggest government partners on the budget.
At 0728 GMT, the rand traded at 18.2375 against the dollar, about 1.1% stronger than its previous close.
Gold prices touched an all-time high on Monday as investors stressing over a global trade war and economic slowdown from the world’s biggest economy turned towards the safe-haven asset. South Africa is a major producer of the precious metal.
Source – Reuters
Korea Zinc’s ambitious 10-year growth plan has stalled in its first year, derailed by an eight-month control battle with private equity firm MBK Partners, raising concerns about the company’s financial health and strategic direction.
The world’s top non-ferrous metal smelter laid out its long-term vision in December 2023 during its first-ever investor day in Seoul, pledging to invest 11.9 trillion won ($8.8 billion) over the next decade in battery materials and other new businesses, with a target of 10% annual growth.
The dispute has overshadowed hopes that Korea Zinc could benefit from U.S. President Donald Trump’s renewed tariff push and global supply chain realignment. “They’ve already wasted eight months,” said an industry source. “If this continues, the company may miss its window of opportunity.”
Source – The Chosunilbo
Pan American Silver has an analyst consensus of Strong Buy, with a price target consensus of $28.36, implying a 15.14% upside from current levels. In a report released on February 11, National Bank also maintained a Buy rating on the stock with a C$47.25 price target.
Source – Markets Insider
The white metal now seems poised to advance further towards last Friday’s swing high, around the $33.35-$33.40 zone before aiming to reclaim the $34.00 round-figure mark.
Source – FXStreet
Spot gold was up 0.2% at $3,374.54 an ounce, as of 0505 GMT. U.S. gold futures eased 0.5% to $3,391.90.
“Gold has made a modest bounce as we await the next steps in the Israel-Iran conflict. If the U.S. does decide to get directly involved in the conflict this could raise the geopolitical stakes,” KCM Trade Chief Market Analyst Tim Waterer said.
“The Fed was not as dovish as some had hoped, and I’d argue Powell was a tad more hawkish than many would like. The U.S. dollar is likely at oversold levels, and that is likely to cap gains on gold over the next few weeks,” said Matt Simpson, a senior analyst at City Index.
Source – Reuters
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028
“Our stated goal is to become a green, high-tech, leading global company,”
“By 2030, more than 30% of our energy use will come from renewable sources.” said Shaoyang Shen, Deputy President of Zijin Mining
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said.
Source – Kitco NEWS
ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.
