.jpeg)
1) An Australian mining company, Mineral Resources (MinRes), has revealed luxurious new accommodation sites in order to attract talent to its fly in fly out operation in West Pilbara, northern Western Australia. It is planning construction on two villages at its $3 billion Onslow Iron project that is closer to a holiday resort rather than a traditional mine-site camp. The company has order 750 rooms, which span almost 500 sq. ft. and comes with a queen-sized bed, laundry, kitchenette, lounge, TV and a balcony. Each room will be linked with walkways and share gathering spaces, barbecues and resting spots. Other amenities include an Olympic-sized swimming pool, an a la carte restaurant, wellness center and a recreation center with a theater. "We need a lot of good people to run a really valuable asset and we think this is a good strategy for attracting that talent," said Bronwyn Grieve, MinRes Chief People and Shared Services Officer. Mineral Resources is also building 10 four-bedroom houses in Onslow as a pilot project to encourage more families to relocate to the area.
2) Gold is rising in price as the confidence in the banking system is losing confidence. "Safe-haven flows in the aftermath of the SVB's fallout, along with a pullback in hawkish rate expectations, have been supportive of gold prices' upside over the past few days," said Yeap Jun Rong, a market analyst at IG. As attempts are made to try and stabilize the financial sector, and economy, some profit-taking might be triggered. With failures and measures to try to save some of these failed banks, gold becomes a more attractive hedge against an economy that might be on the brink of collapse. Uncertainty creates the perfect environment for gold prices as investors look for something tangible that has a solid return, compared to stocks and bonds.
3) Nova Royalty has increased its royalty position on the Copper World project in Tucson, Arizona with the acquisition of an additional 0.03% net smelter return royalty. Copper World is owned by Hudbay Minerals, and it "represents one of the largest and most strategic copper districts in the United States..." according to Alex Tsukernik, the CEO and President of Nova Royalty. The royalty covers all metals extracted from most of the mining claims, which includes copper, molybdenum, silver and gold.