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The Drill Down
Monday 30 March 2026 · Part 2 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,507.90
+15.34 (+0.34%)
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| Silver |
$70.38
+0.59 (+0.84%)
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| Platinum |
$1,923.26
+64.41 (+3.46%)
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| Palladium |
$1,424.58
+45.09 (+3.27%)
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| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.54
+0.0492 (+0.9%)
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| Nickel |
$7.81
+0.0345 (+0.44%)
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| Zinc |
$1.44
+0.0218 (+1.54%)
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| Aluminium |
$1.55
+0.0692 (+4.66%)
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| Lead |
$0.86
+0.0044 (+0.51%)
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Prices updated as of 30 Mar 2026, 4:33 pm AEST
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Today's Stories
Source: Mining Indaba
West Wits Mining has commissioned the Qala Shallows Underground Mine in the Witwatersrand Basin, South Africa's first new underground gold mine in 15 years. The shallow operation, mechanised and running on hydropower, targets initial annual output of 70,000 ounces with a long-term pathway to 200,000 ounces. CEO Rudi Deysel described the opening as a revival of a historic gold belt many had written off, coming at a time when record gold prices are making previously marginal projects viable.
Source: ABC Pacific Beat
The US Bureau of Ocean Energy Management has nearly doubled its proposed deep-sea mining footprint near the Mariana Islands from 35.5 million acres to 69 million acres, despite receiving more than 65,000 public comments in opposition. The expanded area brings potential activity as close as 46 miles from Guam's shores. Critics, including Guam's governor, say the decision disregards indigenous communities and risks irreversible damage to marine ecosystems central to the region's food security and cultural heritage.
Source: Yahoo Finance
Gold and silver mining stocks remain under pressure from the Iran conflict, with speculative money continuing to flow out of precious metals as investors grapple with higher oil prices, inflation fears, and reduced rate-cut expectations. While the long-term fundamentals for gold remain intact, analysts caution that volatility in mining stocks will persist until the conflict is resolved, with any near-term recovery likely sentiment-driven rather than grounded in improving operating conditions.
Source: Financial Times
The closure of the Strait of Hormuz and Iranian strikes on Qatari LNG infrastructure have cut off roughly a third of the world's commercial helium supply, threatening semiconductor fabrication and MRI scanner operations globally. Qatar's state-owned gas company has announced a 14% cut to helium exports, with Deutsche Bank estimating the market has shifted from oversupplied to undersupplied. South Korea, which imports 65% of its helium from Qatar, is considered particularly exposed, given it is home to Samsung and SK Hynix.
Source: The West Australian
The World Gold Council has published a new report urging Australian investors to treat the recent gold price pullback as a buying opportunity, arguing that gold has delivered positive returns across all RBA rate regimes since 2010 and appreciated 181% since the RBA began hiking in 2022. The WGC notes that as bond-equity correlations rise in Australia's inflationary environment, gold's role as a portfolio diversifier is more relevant than ever, particularly given the country's exposure to both Western geopolitical risk and Asian economic demand.
Source: MINING.COM
Deep-sea mining firm Glomar Minerals and Australia's Cobalt Blue Holdings will select a US refinery site by June and target commercial production before 2029. The partnership aims to establish domestic processing capacity for deep-sea minerals.
Source: The West Australian
US Deputy Assistant Secretary for Critical Minerals Joshua Kroon told Australia's Minerals Council that critical minerals cooperation will become one of the central pillars of the US-Australia alliance, with both countries committed to ending reliance on Chinese supply. Kroon highlighted Alcoa's gallium recovery project in Western Australia as an early success under the bilateral framework signed at the White House last year, which committed at least US$1 billion from each side within six months. He also met with Resources Minister Madeline King and emphasised the need for sustained investment in exploration, mining, processing, and refining.
Source: ABC
Queensland mining company Mastermyne Crinum Operations has been found guilty of industrial manslaughter over a worker's death at a central Queensland mine site in 2021. The conviction highlights escalating legal risks for mining operators under strengthened workplace safety legislation.
Source: Barchart
Ivanhoe Mines will release an updated technical report for its Kamoa-Kakula Copper Complex after market close on March 31, 2026. The company will host an investor conference call the same day at 4:30pm EST to discuss the findings.
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This newsletter is for general information, education & entertainment. Kamoa Capital is not licensed and does not know your circumstances. Nothing here is financial, legal or tax advice - seek professional advice and read any PDS before acting. We aim for accuracy but make no guarantees and accept no liability. Views are opinions only and may include forward-looking statements that may not occur.
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