Goldcorp Snags Permit for Chile Mine; Chinese Palladium Bar Price Drops

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Goldcorp now has the environmental permit it needed to progress with its copper and gold El Morro project in Chile.

“Construction on the $3.9 billion project was halted last year, after the Supreme Court froze its environmental permit at the request of the local indigenous community, until the company had fully consulted the community,” reports Reuters.

The price of Chinese palladium bar fell 3.6 percent on Tuesday, October 22, making it the day’s biggest mover. After a 2.7 percent increase, Japanese palladium bar finished the day. US palladium bar prices inched up 1.2 percent.

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The price of US platinum bar closed, following a couple days of improvement, the metal’s price weakened by 0.4 percent. The price of Chinese platinum bar closed, following a couple days of improvement, prices fell by 0.3 percent. The price of Japanese platinum bar fell 0.3 percent.

Chinese gold bullion saw its price rise 0.8 percent. After a 0.3 percent increase, Japanese gold bullion finished the day. The price of US gold bullion was essentially unchanged. The price of Indian gold bullion ended a two-day climb.

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The price of Chinese silver changed direction with a 2.7 percent drop. The price of Japanese silver increased 2.1 percent. Indian silver prices rose 1.7 percent. US silver finished the day up 1.3 percent.