AGP Executive Report
Last update: 4 hours agoSaskatchewan Copper Buildout: Eldorado Gold’s McIlvenna Bay copper-zinc mine in the Flin Flon belt has produced its first copper concentrate and is ramping toward commercial production in Q3, with 2026 guidance pointing to millions of pounds of copper plus zinc, gold and silver. Middle East Oil Risk: The US expanded strikes on Iran tied to Strait of Hormuz security, including a “tanker-for-tanker” approach after attacks on shipping, while CNN reports 40 vessels and 18m barrels escorted through the strait amid drone and missile threats. Gold Outlook Shift: Schroders turned bullish on gold again, citing structural demand and improved positioning despite elevated real yields and inflation/debt/currency worries. Utah Land vs Mining: Patagonia and conservation groups filed new legal moves against Trump’s Bears Ears and Grand Staircase-Escalante monument rollbacks, arguing the cuts open land to mining and energy leasing without proper authority. Ghana Gold FX Plan: Ghana’s GoldBod projects $1.4b in foreign exchange for September under GANRAP, splitting funds between commercial banks and reserve accumulation to stabilize the market. Labor Pressure on PGMs: Sibanye-Stillwater received strike notice for parts of its US Stillwater East PGM operations starting Sept. 3. Nigeria Tin Push: Kano’s solid minerals ministry says it wants to make the state a major tin mining and export hub as investors ramp up surveys and paperwork. Rehab Security Clash (NT): Northern Territory traditional owners say a $6.2m rehabilitation bond for the Nathan River Resources iron ore mine is “grossly inadequate,” threatening new rehabilitation guarantees for future approvals. China Ferrous Hedging: Dalian launched coke options to help steelmakers hedge volatility from mine supply disruptions and demand swings. Undersea Tech M&A: KONGSBERG completed its Sonatech acquisition to strengthen underwater acoustics and US Navy mine-countermeasure and maritime security capabilities.
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