Record gold and copper prices are also a boon for illegal mining in Peru

Record prices of gold and copper are buoying the spirits of mining leaders gathered in the Peruvian capital this week.

Solaris ends plan to sell stake to Zijin Mining, cites government rules

Solaris Resources has scrapped plans to sell a minority stake to China’s Zijin Mining Group because it feared the deal was unlikely to meet Canada’s stringent foreign- investment standards in a timely manner, the Canadian company said on Tuesday.

Nutrien potash mine closed for investigation after fatal accident

An employee died Sunday at a Nutrien potash mine in Saskatchewan, temporarily shuttering the operation as the company conducts an investigation, the company said Monday.

Gold price hits $2,450 on rate cut optimism, geopolitical risks

Gold touched a new record of $2,450 an ounce on Monday as increasing optimism over the Federal Reserve’s monetary policy and rising geopolitical tensions paved the way for another rally in the metal.

Spot silver tops $30 an ounce to hit highest since 2013

Spot silver surpassed $30 an ounce to hit the highest level in more than a decade.

ICSID rules in favour of Peru in decade-long dispute with Kaloti Metals

The International Centre for Settlement of Investment Disputes (ICSID) ruled in favour of Peru in a decade-long dispute with gold dealer Kaloti Metals & Logistics, LLC.

Iron ore price hits more than 2-week low on rising inventory

Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports and caution about demand outlook, but property support measures in China lent some support.

Montage Gold receives environmental OK for Koné project

Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals for the development of its Koné project in Côte d’Ivoire.

Copper price touches $10,000 again as Goldman sees ‘stockout’ risk

Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs Group Inc. warned of intensifying supply stress.

Gold price advances as investors weigh mixed signals on US economy

Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the Federal Reserve fights inflation.

Manara Minerals’ team in Pakistan for talks on Reko Diq stake

Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan’s Reko Diq gold and copper project, a Pakistan government document showed on Monday.

Strong copper price reviving Peru’s mining mojo

Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country’s mining minister said on Friday.

Harmony Gold reports fatality at Mponeng mine

Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South Africa on May 1.

Contango grows Alaska gold footprint with two major buys

Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s HighGold Mining and Avidian Gold’s subsidiary Avidian Gold Alaska.

Gold price falls as investors face long wait until Fed rate cuts

Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s comments was overoptimistic.

Near record high LME prices a magnet for Chinese copper exports

China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said.

Barrick Gold beats estimates for quarterly profit, enters JV in Jamaica

Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has entered into an exploration partnership with Geophysx Jamaica.

Barrick’s Mali mine feeds Russian war machine, advocacy group says

Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ties to Russia.

Gold price fluctuates as market focuses on Fed meeting

Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.

Iron ore is tight and will pass $100 test in 2024

Iron ore will average more than $100 a ton this year as the worldwide market remains tight, despite China’s property crisis hurting the outlook for steel demand there, according to HSBC Holdings Plc.

Marex Group’s IPO raises $292 million

Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public offering priced within a marketed range.

Newmont beats quarterly profit, production estimates on Newcrest assets boost

Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner benefited from strong production and higher sales.

China’s Zhaojin Mining buyout offer for Tietto Minerals now unconditional

China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s Tietto Minerals has become unconditional.

Ghana miners seek termination of Future Global Resources’ lease

Ghana Mine Workers Union is demanding the termination of the mining lease of Future Global Resources Ltd. because the company lacks the finances to invest and operate the Bogoso-Prestea gold mine it acquired more than three years ago.

Gold’s record-setting rally may have its roots in Chinese frenzy

Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

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