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TD Securities’ Daniel Ghali says gold and silver won’t return to the UK

ByVictoria

The massive outflows of gold and silver bullion from the UK into the U.S. will not likely return even after the tariff and trade situation is resolved, and while gold prices are poised to continue setting fresh all-time highs, the setup for silver is even stronger, according to TD Securities’ senior commodity strategist Daniel Ghali.

“This isn’t the silver squeeze narrative that you’ve heard about, this is the silver squeeze that you can buy into,” Ghali added.

Source – KITCO News

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    Ivanhoe Mines Unveils Independent Phase 2 and Phase 3 Expansion Studies

    ByVictoria
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    Mokopane, South Africa–(Newsfile Corp. – February 18, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that the company’s subsidiary, Ivanplats, and its partners, welcome the positive and significant results from two independent technical studies completed on the Phase 2 and Phase 3 expansions of the tier-one Platreef platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa.

    Ivanhoe Mines’ Founder and Co-Chairman, Robert Friedland commented: “The results of these studies mark the culmination of three decades of tireless efforts by thousands of our people to discover, then delineate, and finally build a world-class, polymetallic mining complex that will have a life span of many human generations.

    Source – Junior Mining Network

    Fantastic study and very detailed article to fill your day with. -V. 🙂

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    JP Morgan expects copper prices at $11,000 in 2026

    ByVictoria
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    JP Morgan expects the global deficit in refined copper to grow to 160,000 metric tons in 2026 and continues to forecast copper prices averaging around $11,000 per metric ton next year, the bank said in a note dated Friday.

    “Likely excess inventory builds in the U.S. in the coming months ahead of a tariff on copper sets up the potential to leave the rest of the world shorter of copper … setting the stage for our forecast bullish push higher over 2H25 towards $10,400/mt,” JP Morgan noted.

    Source – Reuters

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    MAG Silver Corp reports Q4 2024

    ByVictoria
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    MAG Silver Corp.’s Q4 2024 results showed lower production due to lower grades, but full-year production exceeded revised guidance, leading to strong financials.

    MAG Silver Corp. (NYSE:MAG) is a precious metals mining company with a few assets in North America. It has some early-stage exploration projects in the United States and Canada but gets most of its value from its 44% ownership in the Juanicipio mine in Mexico.

    Source – Seeking Alpha

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    Codelco boots copper 2024 but strains workers, delays maintenance

    ByVictoria
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    An internal document seen by Reuters showed Codelco’s production reached 1.328 million tons in 2024, at the low end of its target range and just about 3,500 tons higher than the quarter-century low in 2023.

    The worker, who asked not to be identified because they were not authorized to talk about internal operations, said Codelco has yet to fix bottlenecks in transporting minerals in the mine.

    Cristian Cifuentes, an analyst at the Center for Copper Studies (CESCO), said that the Ministro Hales mine is still at reduced capacity and the ramp up of Chuquicamata Underground has been “slower than we all thought.”

    Source – Reuters

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    Foreign traders banned from gold markets

    ByVictoria
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    Ghana has banned all foreigners from trading in its local gold market as part of efforts to boost national revenue and streamline the country’s mining sector.

    It follows the enactment of a new law earlier this month that grants exclusive authority of gold mining to a new state body, the Ghana Gold Board

    “All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said GoldBod spokesperson Prince Kwame Minkah in a statement.

    However, foreigners are allowed to apply to buy or off-take gold directly from the GoldBod but can no longer operate within the local gold value chain.

    “It sends a strong message to foreign actors – especially Chinese operatives – who have circumvented local laws for years,” Nana Asante Krobea, a mining governance consultant

    Source – BBC

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    Freeport set to resume copper exports from Indonesia

    ByVictoria
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    Indonesia has restricted raw material exports to pressure companies to refine minerals locally and add value to its exports. Freeport has local refining capacity, but is seeking to keep exporting concentrate due to a fire last October at its Manyar smelterin East Java.

    Should exports resume, it will relieve, although not reverse, a shortage of copper concentrate that has hit the profits of smelters.

    Source – Reuters