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Mining Stock Daily
Morning Briefing: Perpetua's Stibnite is Approved and Barrick Challenges Continue in Mali
Jan 6, 2025
The Biden Administration has officially approved the Stibnite Project in Idaho, marking a significant win for the mining sector. Barrick Gold faces operational challenges in Mali, threatening to suspend operations due to shipment restrictions. Exciting drill results emerge from XXIX Metal's Upamiska Copper Project and Juggernaut Exploration's Kokomo property, hinting at high-grade mineral finds. Meanwhile, Arizona Sonoran Copper’s strategic buyback signals confidence in its Cactus Mine Project.
09:51
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Quick takeaways
- The Biden Administration's approval of the Stibnite Project represents a significant economic milestone for Idaho, promising over $1 billion in investments and job creation.
- Barrick Gold's ongoing challenges in Mali emphasize the complex regulatory and operational landscape facing mining companies in international markets.
Deep dives
Gold's Remarkable Performance
Gold experienced significant growth during the previous year, finishing up 27% from its peak in 2023. This strong performance outpaced other major indices, including the S&P which grew by 23% and the Nasdaq 100 at 24%. Silver also had a notable increase, closing the year 21% higher, while copper showed more volatility, finishing with only a 3.5% gain. The overall rise in precious metals reflects a renewed interest in safe-haven assets amid economic uncertainty.
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