McLeod Lake band takes stake in Defense Metals’ rare earth project in British Columbia
Defense Metals (TSXV: DEFN; OTCQB: DRMTF) has entered into a co-design agreement with the McLeod Lake Indian Band regarding development of Defense’s 100%-owned Wicheeda rare earth element (REE) project. The project is about 80 km northeast of Prince George, B.C. With a targeted annual production equivalent to almost 10% of current global REE production, the […]
Los Pelambres boosted Antofagasta copper production in 2023
Chilean miner Antofagasta (LON: ANTO) on Wednesday reported a 2% increase in annual copper production last year to 660,600 tonnes thanks to strong performances by its largest mines Los Pelambres and Centinela. The company, which operates four copper mines in Chile, said output at Los Pelambres increased after overcoming water supply issues at the operation, […]
Seabridge Gold applies to extend KSM environmental permit
Seabridge Gold (TSX: SEA) (NYSE: SA) has taken steps to ensure that the environmental permit for its KSM copper-gold project in British Columbia’s Golden Triangle would remain in effect beyond its expiration date. On Wednesday, its wholly owned subsidiary KSM Mining applied to the BC Environment Assessment Office for a ‘substantially started’ status, which, if approved, […]
Sumitomo Participates In FPX Nickel Financing To Gain 9.9% Stake
Decar nickel-iron project, British Columbia. Image by FPX Nickel Sumitomo Metal Mining Canada is investing about C$14.5 million to gain a 9.9% interest in FPX Nickel (TSXV: FPX). Sumitomo will participate in a private placement, purchasing approximately 30.1 million FPX shares at a price of C$0.48 per share. “This strategic investment by Sumitomo Metal Mining […]
Gold price drops to near $2,000 on hawkish Fed comments
Gold fell to its lowest in a month on Wednesday following hawkish comments from a US Federal Reserve policymaker who tamed expectations of an imminent rate cut, sending both the dollar and Treasury yields higher. Spot gold dropped 1.1% to $2,004.78/oz. by noon ET, its lowest in 2024 after starting the new year around the […]