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📝 Here are the highlights
🧐 Emerita Progress
😉 Copper Struggles
🐦 Sprott Uranium Shares
📌 Daily Commodity Prices
Source: TradingEconomics and Numerco.
🧐 Emerita Progress
Emerita Resources Corp. (TSX – V: EMO; OTCQB: EMOTF; FSE: LLJA) reported results from its ongoing metallurgical testing program for La Romanera deposit, on its wholly-owned Iberian Belt West Project in Spain.
Highlights:
Achieved 64.3% gold recovery through a two-stage metallurgical process, including flotation and a post-flotation pyrometallurgical process.
Zinc recovery at 91.3%, copper at 85.8%, and silver at 80.5%.
Testing the CLEVR™ non-cyanide gold leaching process, aiming to optimize gold and base metal recoveries while minimizing environmental impact.
Emerita Advances Testing at El Cura: Arsenopyrite separation and concentrate cleaning progress, with results expected early 2025.
😉 Copper Struggles
Peru's copper production is expected to remain flat in 2025, holding steady at around 2.8 million metric tons, the same as in 2023 and 2024. The country's copper output has been hindered by declining ore grades and a lack of new projects, while rising global demand, particularly for electric vehicles and renewable energy, is creating pressure for increased supply.
Peru's top mining association, SNMPE, forecasts the 2025 output to match the 2023 levels as miners struggle with poorer-quality resources and development bottlenecks. The country's most recent new mine, Anglo American’s Quellaveco, opened in 2022, and it is currently responsible for over 10% of domestic copper production. However, dramatic improvements in production are unlikely in the short term.
Future production increases could come from Southern Copper’s Tia Maria project, expected in 2027, and Teck Resources’ Zafranal, anticipated in 2029, potentially adding 150,000 tons of output. Despite these new projects, seven of Peru’s ten largest copper mines reported lower production through October 2024.
📰 In Other News
Bingo!🏆 Just like last year, Sprott shows that its year-end #Uranium ETF dividends were paid out today by issuing 1.08M new shares of $URNM and 520K shares of $URNJ.💰 There was NO selling of any ETF holdings to pay out the dividends.😃 Global X $URA did the same last year.👇✅
— John Quakes (@quakes99)
8:42 AM • Dec 20, 2024
How Are We Doing?Today's mining news was: |
Happy Speculating!
The Editor
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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