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The Drill Down
The Drill Down
Tuesday 24 March 2026 · Part 1 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,383.99
-22.68 (-0.51%)
|
| Silver |
$68.83
-0.32 (-0.46%)
|
| Platinum |
$1,881.50
-10.00 (-0.53%)
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| Palladium |
$1,405.87
-22.90 (-1.6%)
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| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.52
+0.0090 (+0.16%)
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| Nickel |
$7.78
+0.1447 (+1.89%)
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| Zinc |
$1.40
+0.0100 (+0.72%)
|
| Aluminium |
$1.46
+0.0143 (+0.99%)
|
| Lead |
$0.86
+0.0048 (+0.56%)
|
Prices updated as of 24 Mar 2026, 9:15 am AEST
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Today's Stories
Source: Mining.com.au
AMEC has welcomed South Australian Labor's re-election on 21 March as a mandate to advance Mining Act amendments and reinstate the $12 million PACE exploration program. CEO Warren Pearce noted the Premier and Treasurer have committed to all 10 recommendations in AMEC's Election Policy Platform, though the Legislative Council remains the key barrier to reform passage.
Source: CNBC
S&P 500 e-Mini and WTI crude futures recorded sharp, isolated volume spikes around 6:50 a.m. on 24 March, roughly 15 minutes before Trump posted on Truth Social that the US and Iran had held productive talks and that strikes on Iranian energy infrastructure were paused. Whoever took those positions profited significantly within minutes, drawing scrutiny given the absence of any public catalyst at the time.
Source: Reuters
Fortescue executives warned iron ore miners face billions in additional fuel costs as diesel prices surge amid the Iran conflict. The warning underscores how geopolitical tensions directly impact mining sector operational costs.
Source: The Northern Miner
Gold recovered from Monday's dramatic decline after President Trump postponed military strikes against Iran. The postponement eased market volatility and provided relief to precious metals markets.
Source: The Australian
Andrew Forrest holds what The Australian describes as a "poison pill" as BHP moves to sell key minerals processing infrastructure attached to its mothballed Nickel West business. Forrest's position gives him potential leverage to complicate or influence the outcome of the sale process.
Source: Mining Forum Live
Zijin Mining (SH: 601899) has agreed to acquire a controlling 25.85% stake in Chifeng Jilong Gold Mining for a total consideration of US$2.65 billion, combining an A-share purchase and a strategic H-share subscription. The deal follows Zijin reporting record 2025 results, with net attributable profit up 62% to US$7.4 billion on revenue of US$49.7 billion. Zijin cited rising resource nationalism and limited premium domestic gold assets as key drivers for the acquisition.
Source: BNN Bloomberg
Liberty Gold sold its flagship Goldstrike project for US$72.5 million as the company refocuses on core mining-friendly gold regions. The divestiture provides significant cash proceeds for strategic repositioning.
Source: Business Insider Africa
A report by the Environmental Investigation Agency and PremiCongo alleges that CMOC Group's Tenke Fungurume mine in the DRC has caused a public health crisis through sulphur dioxide emissions from a processing plant opened in 2023. Community members near the site have reported nosebleeds, respiratory illness and pregnancy complications. Supply chain analysis links the mine's cobalt output to BMW, Mercedes-Benz, Stellantis and Volkswagen.
Source: CBS News
A 60 Minutes transcript piece on MP Materials' bid to challenge China's near-monopoly on rare earth magnets, covering the Mountain Pass mine, the new Fort Worth magnet manufacturing facility, and the company's agreements with GM and Apple. China weaponised rare earth exports following Trump's April 2025 tariff announcements, temporarily halting Ford Explorer production and accelerating the US push for domestic supply chain sovereignty.
Source: Kitco News
The World Gold Council has announced a "Gold as a Service" initiative, co-developed with Boston Consulting Group, to build shared infrastructure connecting physical gold custody with digital issuance and management. The move targets a tokenized gold market valued at approximately $5.5 billion, currently dominated by Tether Gold and Paxos Gold with a combined 92% market share.
Source: MINING.COM
China purchased 20,000 ounces of palladium last year to test glass industry applications, according to Russian miner Nornickel. The company established a Palladium Center to explore new technologies sustaining China's palladium demand.
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