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This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and watch TV. 📺

📝 Here are the highlights

✨ Gold Glow

😬 Barrick Crisis

🐦 Crypto Meets Mining

📌 Daily Commodity Prices

✨ Gold Glow

Gold prices edged higher following the release of the U.S. jobs report for November, which showed an increase of 227,000 jobs, suggesting a continued easing in the labour market.

This data fueled expectations of another interest rate cut by the Federal Reserve, with traders now predicting a 91% chance of a 25-basis-point reduction at the Fed's December meeting.

Spot gold rose by 0.3% to $2,638.89 per ounce, while U.S. gold futures gained 0.5%. The potential for rate cuts has supported gold’s strong performance this year, as lower rates make gold more attractive.

Other precious metals like platinum and palladium were on track for weekly declines.

😬 Barrick Crisis

Mali's government, under military rule since 2020, has issued an arrest warrant for Barrick Gold CEO Mark Bristow as tensions over the Loulo-Gounkoto gold mine escalate. The mine, one of Africa's most valuable assets, produces over half a million ounces of gold annually.

Despite Bristow’s longstanding history of successful operations in Mali, including through the turbulent 2012 coup, the current regime is pressing for a larger share of the mine’s profits. This comes after a disputed government audit, with Barrick offering $370 million to settle a tax claim. Four Barrick employees have already been detained, and the government threatens to let the mine's key permit lapse in 2026.

Mali’s military junta, which has aligned with Russia and distanced itself from traditional Western partners, is using the dispute as leverage to secure more funds amid a financial crisis. Barrick has denied any wrongdoing and is working to reach a resolution that would ensure the mine’s continued operation and the government’s long-term financial benefit.

The country’s shifting political landscape, alongside its new mining code, has created an uncertain future for foreign investment in its gold sector.

📰 In Other News

🐦 Crypto Meets Mining

Happy Speculating!

The Editor

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