Initial Drill Results at Orom-Cross Highlight High Grade Shallow Zones

By Finance News On Sep 28, 2025

Excluding the lower costs at the pumps, CPI remained steady at 2.5 percent, the same increase as May and June.

The national reporting agency released June’s mineral production survey on Wednesday (August 20).

The data indicates that production and shipments increased across the board, with copper production rising to 39.17 million kilograms, gold rising to 16,935 kilograms and silver increasing to 29,081 kilograms.

For shipments, copper increased to 45.96 million kilograms from 34.38 million kilograms, gold shipments rose to 18,554 kilograms from 16,725 kilograms, and silver jumped to 31,391 kilograms from 27,614 kilograms.

On Thursday (August 21), Canadian Prime Minister Mark Carney had a phone call with US President Donald Trump. Although the prime minister’s office has provided few details, the two leaders reportedly had a “productive and wide-ranging conversation” about the current trade dispute, as well as economic and security relations.

Carney and Trump are expected to speak again soon.

South of the border, US Federal Reserve Chair Jerome Powell gave his speech at the Jackson Hole Economic Policy Symposium on Friday (August 22). In his remarks, he said that the Fed’s dual mandate goal is in balance, with the labor market remaining near maximum employment, while inflation has eased from post-pandemic highs.

However, he also said that “a shifting balance of risks may warrant adjusting our policy stance,” hinting at a near-term cut to the Fed’s benchmark interest rate. Expectations are high for a 25 basis point cut in September.

Markets and commodities react

Canadian equity markets were positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) was in record territory, closing the week up 1.44 percent to set at another all-time high of 28,333.13. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 2.45 percent to finish Friday at 803.61. The CSE Composite Index (CSE:CSECOMP) slumped mid-week, but recovered on Friday to post a slight gain of 0.48 percent to 158.82.

US equity markets were mixed this week, but strong gains on Friday following Powell’s comments kept them in record-high territory. The S&P 500 (INDEXSP:INX) was up 1.52 percent on Friday, but down by 0.16 percent over the past five days to 6,466.92, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 1.51 percent on Friday, but sank 1.33 percent on the week to 23,497.83 on Wednesday. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was the sole weekly gainer, rising 1.89 percent on Friday and 1.04 percent on the week to post a new record high of 45,631.73.

The gold price was largely flat this week, but also surged on Friday after Powell hinted at a near-term rate cut, rising 1.11 percent on the week to hit US$3,373.21 per ounce by 4:00 p.m. EDT on Friday.

Silver saw similar movements, but ended the week with a larger gain of 2.62 percent to US$38.90 per ounce.

Copper saw…