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The Drill Down
Thursday 26 March 2026 · Part 1 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,506.04
+31.42 (+0.7%)
|
| Silver |
$71.24
-0.00 (-0.01%)
|
| Platinum |
$1,914.50
+5.00 (+0.26%)
|
| Palladium |
$1,407.50
-29.32 (-2.04%)
|
| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.55
+0.0027 (+0.05%)
|
| Nickel |
$7.86
+0.1715 (+2.23%)
|
| Zinc |
$1.40
+0.0247 (+1.8%)
|
| Aluminium |
$1.46
-0.0032 (-0.22%)
|
| Lead |
$0.86
+0.0057 (+0.66%)
|
Prices updated as of 26 Mar 2026, 9:12 am AEST
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Today's Stories
Source: The Northern Miner
SSR Mining has completed the divestiture of its Çöpler mine stake for $1.5 billion. The company has invested nearly $150 million in reclamation and remediation activities following an earlier operational incident.
Source: Mining.com
Chile's antitrust regulator has approved the mining collaboration between state-owned Codelco and Anglo American. The approval clears a regulatory hurdle for the copper mining partnership.
Source: Business Wire
Hecla Mining has completed the sale of its Casa Berardi subsidiary and announced a redemption notice for senior notes. The transaction represents a significant divestiture for the precious metals producer.
Source: Mining.com
Arafura Resources warns of rare earths supply vulnerabilities for South Korea and Germany. Only Australia's Lynas Rare Earths and US-based MP Materials are producing rare earths at scale outside China.
Source: Barron's
Gold futures surged 3.5% to $4,557.80 per ounce while silver jumped 3.9%, driving mining stocks higher early Wednesday. Freeport and Newmont were among the beneficiaries of the precious metals rally.
Source: Mining.com
BHP Group expects the global potash market to tighten over the next decade as demand growth and geopolitical supply chain disruptions converge. The world's largest mining company anticipates a shift toward market deficit conditions.
Source: Reuters
Australia will implement a floor price mechanism for its strategic critical minerals reserve, according to government minister. The policy represents a key development in Australia's critical minerals strategy.
Source: MINING.COM
LME nickel futures climbed as much as 2.7% after Indonesia's Finance Minister confirmed President Prabowo Subianto had approved export tariffs on nickel and coal, with specific tax rates still under discussion. The world's largest nickel producer is facing rising budgetary pressure from higher oil prices linked to the Iran war and is using the tariff as both a revenue measure and a continuation of its long-running resource nationalism strategy.
Source: AFR
Fortescue believes it could save billions of dollars annually by eliminating diesel from its Pilbara iron ore operations. The company is deploying artificial intelligence to optimize operations and slash fuel costs.
Source: MINING.COM
Roughly $11 billion has been pulled from around 100 commodity ETFs in March, marking the largest monthly withdrawal on record per Bloomberg Intelligence data going back to 2005. The SPDR Gold Shares (GLD) alone saw over $7 billion in outflows, with silver ETFs shedding a further $1.4 billion, as investors locked in gains from gold's strong pre-war run amid a dash for cash, expectations of higher interest rates, and a stronger US dollar.
Source: AFR
Australia's mining sector has plunged into a bear market due to rocketing diesel prices from the Iran war. Brokers are advising clients on which mining companies are best positioned to weather the fuel cost crisis.
Source: Mining Hub
Cabral Gold (TSXV: CBR) has launched a C$20 million bought deal financing, with a 15% overallotment option that could lift proceeds to C$23 million, to expand drilling across its Cuiu Cuiu Gold District project in Brazil. Recent results include 9.5m at 87.4 g/t gold at the Jerimum Cima target. Phase 1 gold-oxide production remains on track and on budget for Q4 2026.
Source: FT Markets
Rio Tinto's Diavik diamond mine has completed its final production after 23 years of operations and more than 150 million carats produced. The mine closure marks the end of a major Canadian diamond operation.
Source: GlobeNewswire
Koryx Copper (TSXV: KRY) has released an updated MRE for its 100%-owned Haib open-pit copper-molybdenum-gold porphyry project in southern Namibia, reflecting an 18-23% increase in CuEq grade in the high-grade Indicated and Inferred categories, and a 416-636% increase in total low-grade mineralised tonnage. The project envisages 92,000 tpa of payable copper in concentrate over a 24-year mine life. A pre-feasibility study is targeted for year-end 2026.
Source: Mining.com
The World Gold Council forecasts central banks will purchase roughly 850 tonnes of gold in 2026, matching last year's pace. Central bank demand remains a major driver for gold markets.
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