Top-Level Conference Will Mark Miner’s Day Celebrations
By Alejandro Ehrenberg | Journalist and Industry Analyst -
Thu, 07/09/2020 - 16:43
The Week in Mining highlights developments in Mexico’s mining industry, where top players are getting ready to celebrate Miner’s Day 2020. Also, juniors in Mexico are moving their projects forward as metal prices remain on the rise.
Mexico
To celebrate the mining industry’s commitment to Mexico’s development, the Undersecretary of Mining, in collaboration with Mexico Business News and Mexico Mining Review, will host the online webinar “Mining's New Normal: Reactivating the Industry” on Saturday, July 11, 2020.
Riverside Resources announced that it has entered into a definitive option agreement with Hochschild Mining plc’s Mexican subsidiary. The option agreement concerns Riverside's fully-owned Los Cuarentas gold-silver project in Sonora. Los Cuarentas will now move ahead immediately with a robust exploration program.
Vizsla Resources has announced additional drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Sinaloa. A total of eleven holes have been completed to date at Napoleon with results for mineralized intervals in four holes. High-grade intercepts have been returned, the company said.
Archaeologists have discovered the oldest mining site in the American continent, going back 12,000 years. The site is located in a submerged cave in the Yucatan peninsula. Researchers have found strong evidence of sophisticated ochre prospecting and mining activities.
Metals
Gold has broken the US$1,800/oz threshold for the first time since 2011. “Not since the historical run-up to the all-time highs in 2011 have we seen gold pricing trade above US$1,800/oz,” reported Kitco News.
Silver price has recovered after having fallen sharply in March. “Further gains are forecast for the rest of the year, owing to the precious metal’s safe-haven status and a belief among investors that silver is undervalued in absolute terms to gold,” said Mining Weekly.
Copper is gracing the heights at which it opened in 2020. After dropping to US$4,617/ton on the London Metal Exchange in March, the red metal is currently trading at US$6,080/ton. While some analysts argue that copper still has room for further gains, others caution that its price may fall once supply issues abate.
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