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The Drill Down
The Drill Down
Tuesday 7 April 2026 · Part 1 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,660.65
+11.72 (+0.25%)
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| Silver |
$73.08
+0.27 (+0.37%)
|
| Platinum |
$1,975.50
-2.50 (-0.13%)
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| Palladium |
$1,478.00
-23.50 (-1.57%)
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| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.65
+0.0088 (+0.16%)
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| Nickel |
$7.74
-0.0794 (-1.01%)
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| Zinc |
$1.47
-0.0142 (-0.96%)
|
| Aluminium |
$1.57
-0.0282 (-1.77%)
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| Lead |
$0.87
-0.0018 (-0.21%)
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Prices updated as of 7 Apr 2026, 8:34 am AEST
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Today's Stories
Source: Seeking Alpha
Panama's government expects to issue a resolution allowing First Quantum Minerals to remove and process stockpiled ore at its shuttered Cobre Panamá copper mine. The authorization will permit processing and exporting material from the facility.
Source: The Northern Miner
The U.S. administration has named Highland Copper as a contributor to expanding domestic copper supply. The Canadian company is being highlighted as part of the White House's local supply chain initiatives.
Source: Kitco
Silver prices have pushed back to $75 an ounce, showing signs of stability. Analysts warn investors not to give in to $1,000 silver call option hype brewing on social media.
Source: AFR
Rio Tinto's iron ore chief Matt Holcz faces a multi-billion dollar, decades-long expansion program at the world's third-largest mining company. Holcz oversees excavation operations in the Pilbara region.
Source: The Northern Miner
British Columbia Premier David Eby proposes temporarily suspending parts of landmark Indigenous rights law following a court ruling that found issues with the legislation. The decision could impact mining and resource development projects across the province.
Source: Mining.com
Eramet holds claims covering 99% of the La Isla and Aguilar salt flats in northern Chile's Atacama region. The lithium dispute has connections to Cold War-era nuclear activities in the region.
Source: Kitco
Gold prices hold above $4,500 an ounce as the market continues to improve. Bloomberg strategist warns investors that January's peak could represent a generational high for gold and silver.
Source: Business & Human Rights Resource Centre
Australian authorities are moving to revoke a mining company's licence following allegations of organised crime connections and money laundering at the Hellyer mining operation. The case centers on claims that company funds were misused at the mining site.
Source: MINING.COM
France has repatriated its final gold reserves from the Federal Reserve Bank of New York, securing a $15B gain on bullion stored there since the late 1920s. The move marks the end of nearly a century of French gold storage in US vaults.
Source: Sri Lanka Guardian
Tata Steel faces a ₹1,755 crore penalty following a retrospective audit of historical mining operations. The penalty relates to alleged illegal coal extraction activities by the mining giant.
Source: Kitco
Gold prices recovered above $4,700 an ounce after the biggest monthly loss since the early 1980s. However, one analyst suggests the unprecedented correction could deepen toward $3,800.
Source: MINING.COM
The world's top 50 mining companies added $250 billion in value during early 2026 despite ongoing US-Iran conflict, reaching a combined market capitalization of $2.41 trillion by end of Q1. Global mining majors demonstrated resilience amid geopolitical tensions affecting commodity markets.
Source: Economy Middle East
An analysis by the Precious Metals and Diamonds Desk at CBD finds that gold and silver have surged on geopolitical shock and financial uncertainty in Q1 2026, while the diamond industry has undergone a quieter structural adjustment, with De Beers' book value falling 75% from $9.2 billion in December 2022 to $2.3 billion by December 2025. Silver's role is also shifting structurally, with industrial demand from solar manufacturing alone growing approximately 140% since 2016, leaving the market in a supply deficit it has not exited since 2021.
Source: Armaiti Mercantile Exchange (via X)
Indian Potash Limited has issued a tender for 1.5 million tonnes of granular/prilled urea for the west coast and 1 million tonnes for the east coast, with all vessels required to sail by 14 June 2026. Bids close on 15 April and must remain valid until 23 April 2026.
Source: Kitco
Central banks remained active gold buyers in February despite growing economic uncertainty and rising inflation pressures. Data shows continued purchases right up until the outbreak of hostilities in the ongoing war with Iran.
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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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