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The Drill Down
The Drill Down
Wednesday 8 April 2026 · Part 1 Edition
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Commodity Prices
| Precious Metals |
Price (USD/toz) |
| Gold |
$4,706.34
+57.41 (+1.23%)
|
| Silver |
$72.99
+0.19 (+0.26%)
|
| Platinum |
$1,961.50
-6.00 (-0.3%)
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| Palladium |
$1,470.50
-8.92 (-0.6%)
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| Base Metals (LME) |
Price (USD/lb) |
| Copper |
$5.63
-0.0098 (-0.17%)
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| Nickel |
$7.71
-0.0363 (-0.47%)
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| Zinc |
$1.49
+0.0198 (+1.35%)
|
| Aluminium |
$1.57
-0.0013 (-0.08%)
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| Lead |
$0.88
+0.0027 (+0.31%)
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Prices updated as of 8 Apr 2026, 8:01 am AEST
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Today's Stories
Source: News.com.au
Hours before a planned military strike on Iranian infrastructure, President Trump suspended the attack following urgent calls from allies, including Pakistani Prime Minister Shehbaz Sharif who had requested a two-week extension to allow diplomacy to run its course. The eleventh-hour pause came after Trump had warned "a whole civilisation will die tonight" if Iran failed to make an acceptable deal by his 8pm ET deadline, with the Revolutionary Guards threatening to deprive the US and allies of oil and gas if Washington crossed Tehran's red lines.
Source: First Squawk (via X)
China adds to state gold reserves for 17 consecutive months.
Source: BBC
Burkina Faso's military leader Ibrahim Traore, who seized power in a 2022 coup, has publicly declared that "democracy kills" and that citizens must forget about it, three months after his government dissolved all political parties and seized their assets. Traore initially pledged elections by mid-2024 before extending military rule by five years, and a concurrent Human Rights Watch report attributed more than 1,800 civilian deaths since his takeover, with two-thirds blamed on the military and allied militias.
Source: Junior Mining Network
Lifezone Metals (NYSE: LZM) has produced platinum, palladium and rhodium from US-sourced spent automotive catalytic converters using its hydrometallurgical technology at its Simulus Laboratories in Perth, achieving recoveries of up to 99% for platinum and palladium and 95% for rhodium. A financial investment decision for a commercial US plant is anticipated in Q2 2026, with Glencore holding a 6% stake and an option to fund 50% of the project capital.
Source: Forbes
Dated Brent, the benchmark that values most of the world's physical oil transactions, hit $144.42 per barrel on 7 April 2026, the highest level since Platts began publishing the measure in 1987, as the Iran war's effective closure of the Strait of Hormuz tightens global supply. Brent futures were trading near $109 on the same day, with the spread reflecting intense demand for immediate barrel delivery.
Source: Bloomberg
CATL appointed Zijin Mining founder Chen as advisor for its mining arm to leverage his experience building one of the world's largest miners. The appointment signals CATL's growing focus on securing mining assets for battery materials supply chains.
Source: John Kemp (via X)
Front-month Newcastle coal futures have averaged $137 per tonne so far in April, up from $108 in January, as electricity generators across South and East Asia shift toward coal-fired generation to conserve scarce gas supplies following the loss of Middle East LNG. The price increase has been relatively contained because China and India, the region's two largest coal generators, are expected to absorb much of the additional demand from domestic mines.
Source: Miningmx
Kenya launched a tender process for its rare earths deposit with more than 10 companies expressing interest according to mines cabinet secretary Hassan Ali Joho. The bidding process represents a major opportunity for international miners to access African rare earth resources.
Source: Mining.com
Goldman Sachs trimmed its 2026 copper price target to $12,650 per ton from $12,850 previously, citing potential downside risks. The bank warned of headwinds for copper prices despite ongoing supply concerns in the market.
Source: Argus Media
The Australian government is amending the Export Finance and Insurance Corporation Act to give Export Finance Australia new authority to underwrite additional cargoes of critical imports, including fuel and fertiliser, in response to supply pressures stemming from the Iran conflict. The move forms part of a broader package of policy adjustments aimed at protecting domestic commodity security as Australia's reliance on Middle Eastern crude supply chains comes under strain.
Source: Alaska Beacon
A new Alaska Department of Labor and Workforce Development analysis finds the state's metals mining sector has accounted for 3% to 4% of GDP annually over the past decade, with export value rivalling seafood and an industry now worth close to $3 billion per year. The sector added 3,533 jobs in 2024 at an average wage of $135,000, with employment growing 37% over the decade compared to a statewide rate of 0.3%, and Alaska's Red Dog mine was the only US mine producing germanium that year following China's export cutoff.
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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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