Tin prices rise on Myanmar supply worry

Mining News Pro - Tin prices rose on Thursday on renewed concerns about plans by a major tin producing region in Myanmar to suspend mining later this year.

Mining firms’ cash-raising lifts Toronto exchange as deals slow

Mining News Pro - The one bright spot in Canadian equity capital markets this year has been mining and metals companies. But whether that’s a glass half full or half empty for this sector is up for debate.

Adriatic Metals gears up for Bosnia-Herzegovina mine opening

Mining News Pro - A former silver mine in Bosnia and Herzegovina that sat abandoned through the years of civil strife that hit the region from the early 1990s is almost ready to resume operations.

US imposes sanctions on some of Russia’s biggest gold miners

Mining News Pro - The US has sanctioned some of Russia’s biggest gold miners, as it imposes fresh penalties on the country’s metals and mining sector.

Aluminum trader’s huge LME position ignites battle for stock

Mining News Pro - One of the world’s biggest metals traders has built up a dominant position in one part of the London Metal Exchange aluminum market, creating a squeeze on exchange stocks and putting focus on the availability of non-Russian metal.

Debt ceiling negotiations have investors eyeing gold if US defaults

Mining News Pro - The risk of a US debt default is greater than it’s ever been, threatening to tip global markets into a brand-new world of pain. For investors, there are few places to hide other than the oldest hedge in the book: gold.

LME base metals index tumbles more than 30% since 2022 peak

Mining News Pro - The London Metals Exchange Index — a gauge for the six main metals traded on the bourse has tumbled more than 30% since its record high in 2022.

Silver Lake submits revised bid for St Barbara’s Leonara assets

Mining News Pro - Silver Lake Resources Ltd made a revised offer on Thursday to buy St Barbara Ltd’s Leonara assets in Western Australia for A$707 million ($479.56 million), allowing the latter to secure a 7.5% stake in the gold miner.

Ramelius acquires majority stake in Breaker

Mining News Pro - Gold producer Ramelius Resources has purchased a controlling stake in Breaker Resources, another Australian gold producer.

Deadly Peru mine is partner in Switzerland’s efforts to clean up gold supply

Mining News Pro - A gold mine in Peru where 27 workers died in a fire over the weekend is a partner of Swiss institutions in their effort to ensure responsible sourcing from informal miners in the Andean country.

China’s gold splurge reaches sixth month as reserves rise again

Mining News Pro - China added to its gold reserves for a sixth straight month, extending a flurry of purchases as central banks around the world expand their holdings of bullion amid escalating geopolitical and economic risks.

Bolivian senate approves general terms of bill to monetize gold

Mining News Pro - Bolivia’s Senate approved Thursday in general terms a central bank bill that would allow the country to monetize its gold reserves, a key step to ease a dollar shortage and tame a growing financial crisis.

Marathon Gold on schedule to begin production in Q1 2025

Mining News Pro - Marathon Gold is well on track to begin production at its 100%-owned Valentine gold project located in central Newfoundland by the first quarter of 2025. The company began early works on the property last October, followed by major construction mobilization in January.

St Barbara backs Genesis’ offer for Leonara assets over Silver Lake bid

Mining News Pro - Australian gold miner St Barbara Ltd on Thursday said it will back a A$600 million ($400 million) offer for its Leonara assets from Genesis Minerals Ltd, despite a higher proposal from Silver Lake Resources Ltd SLR.AX.

China’s property pain deflates ‘overhyped’ iron ore market

Mining News Pro - After a bullish start to 2023, iron ore is struggling with the reality that China’s property sector — the steelmaking material’s largest demand driver for two decades — is still far from a robust recovery.

Newmont’s quarterly profit beats estimates on higher prices

Mining News Pro - Newmont Corp posted first-quarter profit on Thursday that beat Wall Street expectations, as the world’s largest gold miner benefited from higher prices of the metal.

Newcrest’s gold production misses analysts’ estimate

Mining News Pro - Takeover target Newcrest Mining on Thursday reported lower third-quarter gold output after facing production difficulties at its Cadia project in Australia, missing a consensus forecast by nearly 10%.

Canada concerned with Mexico’s proposed mining reforms

Mining News Pro - Canada’s Trade Minister Mary Ng expressed concern with Mexico’s proposed mining reforms in a call with Mexican Economy Minister Raquel Buenrostro on Tuesday, the trade ministry said in a statement on Wednesday.

Iron ore price mixed as steel group urges producers to cut output

Mining News Pro - Iron ore prices were mixed on Wednesday while a China steel industry group urged producers to curb output to stay afloat.

Zimbabwe’s digital currency plan needs $100 million of gold

Mining News Pro - Zimbabwe needs $100 million of gold to kick-start its proposed bullion-backed digital currency, as the southern African nation makes another attempt to stabilize its floundering dollar.

Zimbabwe to introduce gold-backed digital currency

Mining News Pro - Zimbabwe will soon introduce a gold-backed digital currency meant to stabilize the local unit from its continued depreciation against the dollar, state-run Sunday Mail reported, citing central bank governor John Mangudya.

Iron ore price extends decline as China demand slumps

Mining News Pro - The iron ore price was the lowest since November on Monday as weak steel demand in China prompted a production slowdown.

Ximen receives final permit for Kenville gold mine in British Columbia

Mining News Pro - Ximen Mining has been granted the final permit required to proceed with its Kenville gold project, home to one of the first underground gold mines in British Columbia’s history.

Record demand pushes silver into new era of deficits, Silver Institute says

Mining News Pro - Global demand for silver rose by 18% last year to a record high of 1.24 billion ounces, creating a huge supply deficit, the Silver Institute said on Wednesday, predicting more shortages in the years to come.

Gold price falls below $2,000 as market readjusts rate hike expectations

Mining News Pro - Gold prices retreated below the key $2,000 level on Wednesday as the US yields marched higher, with investors turning skeptical over potential rate cuts later this year.

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