COVID-19 Hasn’t Diminished Precious Metals and Base Metals Project Development

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When the prices of precious metals increase, there is a shockwave throughout the entire industry. Following the recent increase in value for gold and silver, it now seems projects are kicking off more quickly. This seems to indicate the industry as a whole is in a very good place right now.

An Exciting Future for Precious Metal Projects

A rising value of gold, silver, and other precious metals is beneficial in more ways than one. Most people only look at their personal profits, but there is a lot more to this industry than just that. Numerous companies have been eyeing the gold and silver industry for a while now. A higher price seemingly makes it more attractive to launch new projects. That, in turn, can offer many benefits to the broader industry.

Sources close to the matter confirm this is indeed the case. More and more projects are dipping their toes into the precious metals industry thanks to higher gold and silver prices. Even the momentary setback currently in place isn’t reducing the overall excitement by those projects. For smaller projects, a higher price for precious metals allows them to come to market much quicker. 

A key contributing factor to this sudden change in pace is how miners haven’t suffered too much from COVID-19. More specifically, most of them were able to maintain their production levels with ease. Even with new social distancing requirements in place, the production of gold and silver hasn’t slowed down by much. Demand for these precious metals, on the other hand, has gone through some changes. 

Companies who have managed to remain operational during COVID-19 have reaped the profit from their hard labor. Despite global uncertainty regarding assets and finance, precious metals will benefit from this overall fear and doubt in the markets. Both gold and silver will always remain hedges against ongoing market volatility.

What About Base Metals?

Although this segment is often overlooked, base metals can benefit from the current developments as well. It is not uncommon to see base metals, such as copper and iron, note relatively strong prices. Demand for those metals will never go down by much, and not even a global pandemic can slow down that momentum. 

Any project in the metals industry  -either base metals or precious metals – has been able to lay down the necessary groundwork to ramp up overall operations once the situation allows for it. Some ventures may have been forced to push back their launch to next year, but there are still many things that can be done under the current circumstances. As such, there will be a lot to look forward to in 2021 and beyond.

All things considered, there is no overly negative news for the metals industry. The mining-oriented outlook remains positive across the board, which is all one can ask for. More importantly, crucial mergers and acquisitions are still taking place behind the scenes. Judging by the current state of the industry, the next 12-18 months will offer plenty of action across the precious metals and base metals segments.

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