Trump to Double Tariffs on Steel and Aluminum

US President Donald Trump aims to raise tariffs on steel and aluminum from 25% to 50%. Among the most impacted countries are Canada, Brazil, and Mexico. In other news, Canada-based silver company First Majestic reported the discovery of the Santo Niño and Navidad vein mineralization at its Santa Elena property in Sonora. The company expected further drilling through 2025 to explore the Santo Niño vein and expand Navidad's mineral envelope. 

Ready for more? This is your Weekly RoundUp! 

Trump to Double Tariffs on Steel and Aluminum Imports to 50%

Trump aims to double tariffs on steel and aluminum imports, raising them from 25% to 50%. This move comes amid ongoing legal challenges to his "reciprocal" tariffs and could further strain relations with key US trade partners, including Canada, Brazil, and Mexico. As the largest steel exporter to the United States, Canada is expected to feel the greatest impact due to previous tensions over similar trade actions. 

Prime Mining Selects Ausenco to Lead Los Reyes PEA

Prime Mining has selected Ausenco Engineering Canada to lead the Preliminary Economic Assessment (PEA) for its Los Reyes gold-silver project located in Sinaloa. The company is aiming to deliver a PEA that outlines a high-return, low-capital, long-life operation with strong margins. The study will incorporate data from drilling completed through the end of 2024 and will reflect the technical work carried out to date. The PEA is scheduled for completion in 3Q25.

Luca Mining Sees Double-Digit Growth in 1Q25 Mineral Output

Luca Mining achieved net earnings of US$4.5 million, an EBITDA of US$7.6 million, and free cash flow of US$11.7 million in 1Q25. The company also achieved double-digit growth in gold, silver, zinc, lead, and copper production. 

First Majestic Unveils Santo Niño, Navidad Discoveries

First Majestic Silver confirms two major gold-silver discoveries at its Santa Elena property in Sonora: Santo Niño and Navidad. Further drilling is planned for 2025 to continue exploring the Santo Niño vein and expanding Navidad’s mineral envelope.