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McEwen Copper requests major tax breaks for Los Azules copper mine in Argentina

ByVictoria

Canadian miner McEwen Copper, a subsidiary of McEwen Mining, has submitted a request to join an Argentine government incentives program that would give it significant tax breaks for its Los Azules copper project in San Juan province, it said.

Once the government gives McEwen the green light, its corporate tax rate for the Los Azules project will fall from 35% to 25%, and it will be exempt from value-added tax during construction and from export duties.

Source – Reuters

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    Gold Fields Limited reports 42% jump

    ByVictoria
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    Gold Fields (NYSE:GFI) +4.2% pre-market Thursday after reporting a 42% jump in FY 2024 profit and saying it met revised full-year guidance after a stronger H2 performance.

    Gold Fields (GFI) raised its dividend by 34% to a company record 10 rand/share ($0.54) per share, prompting CEO Mike Fraser to say the company may consider a share buyback program as a way to boost shareholder returns if the gold price remains elevated.

    Source – Seeking Alpha

  • Weak dollar and Treasury yields

    ByVictoria
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    “U.S. dollar and Treasury yields are lower, which is helping gold catch a bit of support… The overall uptrend remains intact and the path of least resistance favours the upside,” said Ilya Spivak, head of global macro at Tastylive.

    “Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks… We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming.”

    Spot silver added 0.3% to $32.19 an ounce, platinum was steady at $957.89 and palladium lost 0.3% to $940.47.

    Source – Reuters

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    List of 50 exempt items Gold and Silver included

    ByVictoria
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    Non-tariff barriers are meant to limit the amount of imports/exports and protect domestic industries. In some relief to consumers globally, the Trump administration has kept some essential items exempt from the purview of these tariffs.

    Items exempt from the tariffs levied by Trump include copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, as well as energy and energy products. 

    Source – GoldSilver Reports

    Long list of all exempt items when you go to the website. Hope that helps! – V.

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    Silver rising with gold in the spotlight

    ByVictoria
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    Silver has enjoyed a “stealth bull market”, according to Adrian Ash, director of research at metals marketplace BullionVault, as supply of the metal has lagged demand for seven years running.

    Silver’s highs have come “under the radar for two reasons,” said Ash. “First, that silver has set fresh records outside the US dollar, leaving headline writers to miss its new highs in terms of other currencies including the pound.

    “Second, and rather than shooting the lights out like gold has over the past 12 months, the price of silver has risen to new annual and month-average records without hitting fresh daily highs.”

    Source – Proactive Investors

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    Americas Gold and Silver Announces 2024 Results

    ByVictoria
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    Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, reports consolidated financial and operational results for the year ended December 31, 2024.

    Paul Andre Huet, Chairman and CEO, commented: “At Americas Gold and Silver we have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.”

    Source – The Globe and Mail