February 2025 - MiningNewsWire

FridayFeb 28, 2025 10:00 am

Gold Stutters as the Dollar Strengthens, Inflation Data Awaited

The price of gold slid to its lowest level in more than a week as the dollar gained at a time when investors are watching out for a key indicator/report that could provide some insights about the likely policy direction of the Federal Reserve over the coming months. Spot gold shed 1.2 percent to sell at $2,880 per ounce. This price marks the lowest that the precious metal has been since February 17. The drop comes after gold prices had rallied on Monday to a high of $2,956 as a result of money flowing into the gold market due to…

ThursdayFeb 27, 2025 10:00 am

Musk’s DOGE Targets Fort Knox and the Gold it Holds

For decades, conspiracy theories have swirled around Fort Knox, the heavily guarded vault in Kentucky that holds much of the U.S. government's gold. But now, these theories have gained new life thanks to billionaire Elon Musk and President Donald Trump. Over the past two weeks, Musk has raised questions about whether the gold is still there, and Trump has vowed to check for himself. On social media, Musk openly questioned the state of the gold reserves at Fort Knox, asking if it was “still there” or if it had been “stolen.” He even called for a “live video walkthrough” of…

TuesdayFeb 25, 2025 10:00 am

Congo Gains Prominence as a Copper Exporter to China

China’s demand for copper has undergone a significant shift in recent years, with the Democratic Republic of Congo (DRC) emerging as its top supplier. Once reliant on Chile and Peru, China is now sourcing an increasing share of its copper from Africa’s richest copper-producing nation. This shift is reshaping global trade patterns and strengthening China’s grip on the Congolese mining sector. In 2024, China imported 1.48 million metric tons of refined copper from the DRC, marking a 71% increase from the previous year. This surge has positioned the DRC as China’s largest supplier of refined copper, significantly outpacing Chile, whose…

FridayFeb 21, 2025 10:00 am

Market Differences Trigger Growth in Exports of Singapore Gold to the US

The gold market is seeing big changes, with Singapore’s gold exports to the U.S. reaching their highest level in almost three years. In January, shipments rose by 27% from December, totaling around 11 tons. This jump is due to ongoing market disruptions and price differences between key regions. Recent instability in the gold market has caused a surge in exports. Gold prices are approaching record highs, and price gaps between major trading hubs continue to widen. A major factor behind this is concern over possible tariffs on precious metals from the U.S. administration. These concerns have pushed up gold futures…

ThursdayFeb 20, 2025 10:00 am

Tariff Threats Trigger Transatlantic Copper Pricing Differences

Copper prices are experiencing significant differences between the United States and global markets due to concerns over potential import tariffs. As speculation grows that U.S. President Donald Trump may impose tariffs on copper imports, traders and manufacturers are closely watching price movements. The gap between copper prices on the Chicago Mercantile Exchange (CME) and the London Metal Exchange (LME) has widened considerably. Currently, CME copper is trading at a premium of over $1,000 per metric ton compared to LME prices. This is mainly due to fears that the U.S. government may apply tariffs similar to those imposed on aluminum and…

TuesdayFeb 18, 2025 11:30 am

Bridging the Supply Gap: How Torr Metals Inc.’s (TSX.V: TMET) Kolos Project Aligns with BC’s Growing Copper Demand

Torr Metals has strategically positioned its Kolos Project near the Highland Valley, New Afton and Copper Mountain mines, which are nearing the end of their ore feeds As production from neighboring mines inevitably declines, Torr’s Kolos Project offers a potential new source of copper and gold in one of Canada’s most mining-rich regions A lack of greenfield exploration means these companies have minimal targets for replacing operations in the area Torr Metals is well-placed to capitalize on the mining dynamics of the region and deliver long-term value to investors In the world of mining, much like in real estate, the…

TuesdayFeb 18, 2025 10:00 am

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Solidifies Position as Gold Demand and Value Rise

Historically, gold has demonstrated resilience and consistent performance, averaging an annual return of 8% since 1971. As demand for gold continues to rise, the necessity for developing new gold mines becomes increasingly critical. Platinum Group Metals Ltd. is making significant strides in the precious metals sector, including gold. Gold has long been revered as a symbol of wealth and a reliable store of value. Its unique properties have made it a cornerstone in investment portfolios, offering stability and a hedge against economic uncertainties. As we navigate the complexities of the 21st-century financial landscape, gold’s significance remains undiminished, with projections indicating…

FridayFeb 14, 2025 10:00 am

Industry Applauds B.C. Government Plans to Expedite Mining Projects as Trump Tariffs Loom

The British Columbia (B.C.) government is taking swift action to protect its economy in response to Donald Trump’s tariff threats. On Monday, Premier David Eby unveiled plans to fast-track approvals for 18 minerals deemed critical as well as energy projects, totaling approximately $20 billion. This initiative is aimed at reducing administrative delays and ensuring that key projects, particularly in remote and rural communities, move forward quickly. The mining industry has welcomed the move, seeing it as a much-needed step toward strengthening B.C.’s resource sector. The Mining Association of British Columbia (MABC) expressed strong support, emphasizing the importance of accelerating major…

ThursdayFeb 13, 2025 10:00 am

Trump Orders End to the Production of Copper Coins

In a bold move to cut government waste, President Trump has ordered the Treasury Department to suspend minting pennies. Pointing out the skyrocketing costs of production, Trump announced the decision via Truth Social account, stating, "For far too long, the United States has minted pennies which literally cost in excess of 2 cents. This is pure waste! It's time to cut unnecessary spending from our nation's budget, even if it means starting with a single penny." The decision comes amid concerns over the financial burden posed by penny production. The U.S. Mint says the cost of producing a single penny…

TuesdayFeb 11, 2025 10:00 am

Report Finds That Chinese Companies Control About 75% of Nickel Capacity in Indonesia

A recent report by the Washington-based nonprofit C4ADS has revealed that Chinese firms control approximately 75% of Indonesia’s nickel refining capacity. This dominance has raised concerns about supply chain control, economic influence, and environmental risks, particularly as nickel plays a crucial role in the global electric vehicle (EV) market. Indonesia is the world’s largest nickel producer, with a refining capacity of 8 million metric tons spread across 33 companies. Over the years, the country has implemented policies that ban the export of raw nickel ore, forcing companies to refine nickel domestically. This has attracted massive Chinese investment, leading to China’s…

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Month: February 2025