July 2024 - MiningNewsWire

WednesdayJul 31, 2024 10:00 am

Four Smart Steps to Take as Gold Price Drops

Investors have been flocking to gold in the past few months, many focused on capitalizing on the metal’s uptick in price. Earlier this year, the metal’s price started going higher before reaching its first record of the year in March. By mid-July, gold had surpassed many highs to reach $2,472 an ounce, its newest record. Since then, the price of the precious metal has dropped to $2,371.45 an ounce, representing a drop of nearly 4%. With the Fed set to make a new announcement and the rate of inflation cooling, the price of gold is expected to go down, at…

TuesdayJul 30, 2024 11:15 am

Canada’s Mining Legacy Continues: Torr Metals Inc. (TSX.V: TMET) and Quesnel Terrane Hold Promise for New Discoveries

In 2022, Canadian mines produced 510,782 tonnes of copper in concentrate, with over half originating from British Columbia The Quesnel Terrane, which is home to Torr Metals’ expansive Kolos Copper-Gold Project, has the potential to be instrumental in Canada’s next great copper discoveries Torr’s recent rock sampling confirmed copper porphyry mineralization in outcrop adjacent to Highway 5 in the heart of the southern Quesnel Terrane, with assays returning economic values as high as 4,240 ppm Cu and 1.07 g/t Au Canada stands as a global mining titan, amidst British Columbia becoming the largest copper producer, commanding 53% of total Canadian production and…

MondayJul 29, 2024 10:00 am

Why the Price of Silver Could Be Subject to Manipulation

First Majestic Silver CEO, Keith Neumeyer, claims that the market is being manipulated because of the metal’s role as an investment commodity and an industrial metal. This alleged manipulation is widespread, driven by traders that ignore this precious metal’s significance and fundamental value. In a recent interview, Neumeyer explained that traders saw silver as just a number on a screen, failing to recognize that the metal needed to be trading at a much higher price. As of mid-July, the metal’s deficit globally is expected to increase by 17% to reach just over 215 million ounces. According to the Silver Institute,…

FridayJul 26, 2024 10:00 am

Demand Concerns Sink Copper Price to Three-Month Lows

Earlier this week, the price of copper fell to its lowest in more than three months. The significant drop in price was driven by demand concerns after China failed to issue fresh stimulus measures despite the struggling economy. Daniel Ghali, a senior commodity strategist at TDS, notes that the continued rise in copper exports from China supports TDS’s view of a weakness in domestic demand. He noted that the decline in demand expectations for the commodity suggest a rise in downside convexity. It is expected that policymakers will announce economic policies to promote domestic demand at the end of the…

WednesdayJul 24, 2024 10:00 am

Price of Silver on Mend After Recent Plunge

Silver is a precious metal that is highly traded by investors. Historically, the metal has been used as a medium of exchange and a store of value. While the metal is less popular in comparison to gold, traders often turn to it due to its intrinsic value to diversify their portfolios. The metal can also be a potential hedge in times of high inflation. Last week, the price of silver dropped to $30.06 and showed signs of recovery soon after, hinting at an increase that could see the metal’s price potentially reach the $32.00 mark. The metal’s highest price is…

MondayJul 22, 2024 10:00 am

China Releases Plan to Back Coal Plants to Switch to Low-Carbon Operations

China recently issued a plan to encourage the switch to low-carbon operations by coal plants. The country also announced its plans to award preferential loan guidelines to qualified projects and diversify funding channels. The new action plan also incorporates the construction of new infrastructure and improved technologies related to carbon reduction for coal plants. This will ensure the country’s energy security during the transition to green energy. The plan was jointly issued by the National Energy Administration as well as the National Development & Reform Commission. Its main objective is to improve financial support directed at low-carbon reformation projects, which…

FridayJul 19, 2024 10:00 am

World Gold Council Data Shows Gold ETFs Saw Decade-High Outflows in H1 2024

The World Gold Council (WGC) defines gold exchange traded funds (ETFs) as regulated securities that hold gold in physical form. This includes mutual funds, closed-end funds and open-ended funds that trade on regulated exchanges. The organization tracks gold ETFs either by the equivalent value of their holdings in U.S. dollars, or the physical quantity of gold they hold. In addition, the WGC monitors how these assets change through time by examining fund flows and demand. Latest data from the WGC shows that physically backed gold ETFs globally have lost $6.7 billion between Jan. 1 and June 30 of this year.…

ThursdayJul 18, 2024 10:30 am

Nickel Rush Heats Up in Canada: Opening Doors for Companies Like Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) as Canada Eyes a Top Spot Among Global Producers

Nickel demand is expected to grow at a continually accelerating rate over the coming years and decades By 2040, use in batteries will command 41% of total nickel usage, up from just 7% in 2021 Nickel is considered one of the most strategically vulnerable critical metals in North America or the west Like Canada’s Critical Minerals Infrastructure Fund (“CMIF”), the west has been making increasing efforts to encourage critical metal exploration and extraction Fathom is developing two highly prospective projects in Canada’s Trans-Hudson Corridor in Saskatchewan Fathom has received a new drill permit that allows for up to 60 drill…

WednesdayJul 17, 2024 10:00 am

As Mine Costs Skyrocket, Friedland Warns of Looming Copper Crisis

Last week, analysts and miners met in the state of Florida to discuss why the mining industry isn’t getting a lot of attention from investors. The Rule Symposium was held in Boca Raton and ran from July 7–11, 2024; the event was organized by Rick Rule, the founder of Rule Investment Media. In a prerecorded video interview, Robert Friedland of Ivanhoe discussed how copper would likely face a supply shortage in the future. Friedland, who is the executive cochair and founder of Ivanhoe, stated that the world was already experiencing a shortage of copper, adding that despite this, the price…

WednesdayJul 17, 2024 9:45 am

Torr Metals Inc. (TSX.V: TMET): Ontario’s Golden Past Hints at a Glittering Future

Ontario is renowned for world-class mining infrastructure and gold and copper deposits, with the world-class Timmins Gold Camp region hosting $400+ billion in gold resources Torr Metals is developing its 100% owned 261km2 Filion Gold Project, ideally located adjacent to the Trans-Canada Highway 11 and northwest of Timmins, with all requisite mining infrastructure Late last year Torr conducted the first large-scale systematic soil program ever conducted in the project area, with39 of 318 humus samples returning highly anomalous values greater than 10 parts per billion (ppb) gold and13 exceeding 20 ppb Au, reaching a maximum of 1,320 ppb Au The largest…

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Month: July 2024