McEwen is currently contemplating an expansion to the Fox Complex.

Spot prices for the six key metals that dominate trading on the LME are all at a discount to futures.

Investors include California State Teachers’ Retirement System and Legal & General Investment Management.

The Yangshan copper premium, or the fee traders pay for imported cargoes over benchmark prices on the LME, extended to its highest level in a year.

Gold has had a surprisingly strong run through much of the year, rallying further in October as the conflict between Israel and Hamas escalated.

The stock sank as much as 25% in Johannesburg, wiping out about 15.2 billion rand ($824 million) of its market value.

According to Sprott, there is some additional room for prices to move in the short term.

Demand for platinum is expected to decline by 6% to 7.7 million troy ounces in 2024.