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    Switerlands gold exports reach highest since 2022

    ByVictoria
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    Over the last two months, 12.9 million troy ounces (401 metric tons) of gold were delivered to COMEX-approved warehouses, raising stocks there by 73.5% to 30.4 million ounces, the highest since July 2022.

    According to the Swiss data, gold deliveries from the country to the U.S. rose to 64.2 tons in December from 3.3 tons in the last month of 2023. In March 2022, when global markets were grappling with immediate consequences of Russia’s invasion of Ukraine, Switzerland exported 81.5 tons of gold to the U.S.

    Source – US News / Reuters

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    China urges US to stop potential tariffs on copper

    ByVictoria
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    China urged the United States on Thursday to halt an investigation into potential new tariffs on copper imports to rebuild U.S. production of the critical metal, vowing to retaliate if Chinese entities got caught up in the levies.

    “We urge the U.S. side to withdraw its investigation as soon as possible,” He said.

    “If the U.S. insists on imposing tariffs and other restrictive measures, China will resolutely take the required steps to safeguard its legitimate rights and interests,” He said, without giving any further details.

    Source – Reuters

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    Democratic Republic of Congo proving to be a good investment for China

    ByVictoria
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    Shipments of refined copper from the central African country jumped by 71% year-on-year to 1.48 million metric tons in 2024. The Congo is now by some margin the largest supplier of refined metal to the world’s largest buyer.

    The Congo’s share of Chinese copper imports has risen from 10% in 2020 to 36.7% with volumes steadily increasing over the fourth quarter. December’s imports of 167,735 tons were a new monthly record.

    Source – Reuters

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    Hindustan Zinc shares up 5%

    ByVictoria
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    The shares of Hindustan Zinc surged nearly 6 percent to trade at Rs 496 apiece on June 5 on the back of a notable surge in silver prices in India.

    Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity. The sharp rise in the bullion’s prices is expected to further boost the stock.

    Hindustan Zinc shares have gained nearly 16 percent in the past one month, but dropped nearly 27 percent in the past one year.

    Source – Money Control

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    Freeport-McMoRan shares up 1.6%

    ByVictoria
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    Miner Freeport-McMoRan (FCX.N), beat Wall Street estimates for second-quarter profit on Wednesday, as higher copper and gold prices helped offset lower production.

    The company’s shares rose 1.6% to $40.54 in pre-market trade.

    Freeport could be a big beneficiary, seeing as much as $1.6-billion boost to annual profit, given its position as the largest U.S. producer with more expansion options than rivals.

    Freeport, which supplies about 70% of U.S. refined copper, said it expects to sell 1.3 billion pounds from its domestic mines in 2025.

    Source – Reuters