Weekly Nugget
Catch the June monthly mining roundup replay
We dig into the latest trends, data, and news in this week's Nugget.
Dig into the latest mining news in this week's nugget.
Here's Your Weekly Nugget!
- 🔥 What's New
- 📰 In The News
- 🎧 On The Rocks
- 📱 Trending On Social
- ❓ Prospector Poll
🔥 What's New
We’re excited to share this conversation about mentorship in mining between our CEO, Emily King, and BHP's VP of Exploration, Sonia Scarselli! They discussed being vulnerable and honest as mentors, and the importance of diverse perspectives. This is such an insightful and meaningful conversation. Click below to watch!
📰 In The News
How Beijing Tamed a Lawless Industry and Gained Global Influence
- China's rare earth industry, once marked by lawlessness and severe environmental damage, has been tightly consolidated and regulated by the government, ending illegal mining and reducing environmental harm.
- A series of government crackdowns and consolidation efforts since 2006 curtailed crime syndicates and unregulated mining, and helped China establish control over rare earth production for strategic economic and environmental reasons.
- Now dominated by three state-controlled companies, China exerts significant influence on global rare earth prices, strategically undercutting Western production efforts and keeping control over this critical resource.
Ecuador To Reopen Mining Register for First Time in Over Six Years
- Ecuador's President Daniel Noboa has ordered the reopening and update of the national mining cadaster to address illegal mining and improve sector transparency within six months.
- The executive decree grants authorities increased power to combat illegal mining, allowing coordination with police and military forces if needed, while defining any mining without proper authorization as illegal.
- Amid rising violence and corruption linked to illegal mining, Noboa aims to establish Ecuador as a more secure and regulated mining destination ahead of the February 2025 elections.
Glass Half-Full Economy Powers Gold Higher
- Talon Metals announced a significant copper and nickel discovery at its Boulderdash target in Michigan, with the first drill hole showing 99.92 meters of mineralization at 1.6% copper equivalent.
- The find, located near Lundin Mining’s Eagle mine, raised Talon’s shares by 17%, prompting plans to expand drilling to assess the deposit’s potential.
- Supported by a $20.6 million U.S. Department of Defense grant, Talon is exploring Michigan and Minnesota, aiming to boost domestic critical mineral production amid rising demand for local resources.
Silver Short Squeeze Coming?
- The Fed’s rate cut in September spurred gold and silver rallies, with gold up 37% and silver up 46% this year due to central bank buying, geopolitical uncertainty, and demand from sectors like solar and electronics.
- With a silver deficit expected for the fourth consecutive year, supply constraints and potential shifts, such as Russia's addition of silver to reserves, could drive further price gains and market volatility.
- The potential “silver squeeze” has raised concerns over bank short positions and market manipulation, as analysts suggest silver's value could continue rising, especially if other BRICS nations adopt similar reserve strategies.
🎧 On the Rocks
This week, host Emily King sits down with Louis Buck, SVP of Public Affairs at 3 Rivers Energy Partners, to explore the innovative intersection of bourbon production and renewable energy.
📱 Trending On Social
❓ Prospector Poll
Which industry dataset is most important or interesting to you?
Last Week's Results
With the valuation of tech giants like Nvidia surpassing the mining industry, do you see the resource sector’s value catching up?
