Mining Review Weekly Update 5th December 2021
As the year comes to an end risk seems to be rising in the mining sector, and the importance of investing in companies in safe tier one jurisdictions is being highlighted on a weekly basis.
Recent kidnappings of mining employees in Burkina Faso, Ethiopia, and now two Chinese miners in the dreaded DRC have been killed, and four more kidnapped. […]
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A sparsely populated area at Mines and Money London 2021
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Mining Review Weekly Update 5th December 2021
As the year comes to an end risk seems to be rising in the mining sector, and the importance of investing in companies in safe tier one jurisdictions is being highlighted on a weekly basis.
Recent kidnappings of mining employees have occurred in Burkina Faso, Ethiopia, and now two Chinese miners in the dreaded DRC have been killed, and four more kidnapped.
In addition, Chile, Peru, and now, sadly, Ecuador (see Cornerstone Capital news release HERE) are leaning to the left and becoming less mining friendly, despite the massive contibution mining makes to their GDP.
At the end of the day there are an abundance of quaity mining prjects in tier one jurisdictions, so why take addtional risk in an unsafe country?
My personal tier one jurisdictions are currently;
- Australia
- Botswana
- Brazil
- Canada
- Ghana
- Ivory Coast
- Mali
- Mexico
- Nicaragua
- USA
I see no reason to stray outside of these jurisidictions, why take unnecessary risk when there’s plenty of projects to choose from in the above safer countries?
Companies on our watchlist making news this week
Ramelius extends offer for Apollo Consolidated
Mines and Money Conference hit by Covid Variant
American Creek JV Drills Long Gold Intersection
City Investors Circle Mining Review Published
Cartier Resources Announces Benoist Drill Results
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Market Data
Precious Metals
| Gold | 1782 | -1% |
| Silver | 22.18 | -4% |
| Palladium | 1750 | 0% |
| Platinum | 930 | -3% |
| Rhodium | 12850 | -6% |
PGM’s fell on reduced industrial demand due to car plants being idled around the world due to a deficit of critical components.
Gold can’t find any friends, and silver is just plunging despite its industrial uses.
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Industrial Metals
| Copper | 4.32 | -4% |
| Nickel | 9.16 | -4% |
| Zinc | 1.49 | -4% |
| Tin | 17.92 | -4% |
A 4% fall across the board, and a rare fall for tin, up virtually every month in the last year.
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Energy metals
| Cobalt | 29.59 | +4% |
| Manganese | 3.46 | -2% |
| Lithium | 29,905 | +3% |
| Uranium | 46 | -4% |
Lithium continues to rise northwards on supply demands, and shortage fears.
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Bulk commodities
| Iron Ore | 102.3 | -2% |
| Coking Coal | 268 | -7% |
Another poor week for both bulk commodities after the Chinese reduced steel production to reduce emissions prior to 2022 Winter Olympics.
Precious metal ETF’s
| GDX | 30.69 | -4% |
| GDXJ | 40.59 | -5% |
| Sil | 35.76 | -5% |
| SILJ | 12.12 | -7% |
| GOEX | 28.29 | -5% |
| GLD | 166.63 | 0% |
No cheer here as all the precious metal funds took a hammering.