Record Gold, Copper Prices Create Huge Opportunity for New Large-Scale Projects
, /PRNewswire/ -- The surge in the price of gold has been well documented this year. The precious metal closed above an ounce earlier this year, leading experts to forecast (Bank of America) in the coming months. In addition, copper prices have also risen to their highest levels in more than two years, climbing to . These numbers bode well for companies in the precious metals space, especially companies such as (TSX: JOSE) (OTCQB: JOSMF) (), which has interests in both copper and gold. Earlier this month, regarding its 100% owned Josemaria Copper-Gold Project in , . Other companies that are making moves in the base and precious metals sectors include (NYSE: RIO), which just announced that itsKennecott site in is the first producer to be awarded the Copper Mark, the copper industry's new independently assessed responsible production program. (NYSE: FCX) has commenced the Copper Mark process for six of its operating sites and has future plans to validate all of its operating sites against the program's requirements. (NYSE: SCCO) recently released its Q3 2020 financial report, noting that its net sales totaled , up 14.5% compared to Q3 2019. (NYSE: FNV) also reported record revenue, EBITDA and net earnings in the third quarter with all material mining assets having returned to normal operations through the quarter.
Emgold Completes Acquisition of 50% Interest in East-West Property, Quebec
VANCOUVER, BC / ACCESSWIRE / November 11, 2020 / Emgold Mining Corporation (TSXV:EMR)(OTC PINK:EGMCF)(FRA:EMLM)(BSE:EMLM) ("Emgold" or the "Company") announces it has completed the acquisition of 50% ownership in the East-West Property, Quebec ("East-West" or the "Property"). Details of the transaction are contained in a press release dated December 11, 2019 found at or under Emgold's corporate filings at . Emgold has a further option to acquire up to a 55% interest in the Property.
Demand For Gold During Pandemic Drives Strong Growth In Gold Mining Industry
PALM BEACH, Fla., /PRNewswire/ -- During periods of crisis, gold has proven to be a time-honored safe-haven asset. Scarcity and built-in utility have made the yellow metal a sought after commodity throughout recorded human history. Whether in physical or paper form, gold bullion is the world's go to financial hedge against uncertainty. The global gold market is likely to be affected by the fluctuating supply of mined gold as the global gold production is a mix of scrap recovery, central bank supply, and mined gold. More than half of the global gold supply comes from mined gold. In 2019 the U.S. produced 200 tons (6.4 million troy ounces) of gold (down from 210 tons in 2018), worth about , and 6.1% of world production, making the U.S. the fourth-largest gold-producing nation, behind , and . Most gold produced today in the US comes from mines in the state of . The US is a net exporter of gold. Active stocks in the mining markets this week include (TSXV: EMR) (OTCPK: EGMCF), (NYSE: RIO), (NYSE: NEM) (TSX: NGT), (NYSE: HL), (TSX: TLG) (OTCQB: CHXMF).