Platinum Prices Continued to Hold Up Well, Downstream Buyers Mostly Waited and Watched as Trading Remained Sluggish [SMM Daily Review]

Atico Mining Corporation has secured key environmental permits for its La Plata copper-gold project in Ecuador, marking a major milestone toward construction readiness. The company confirmed that Ecuador’s Ministry of Environment granted the Environmental License along with additional regulatory registrations, enabling further progress toward development. CEO Fernando Ganoza stated the project is now nearing a construction decision, expected in Q2-Q3 2026, following years of exploration, feasibility studies, and environmental assessments.

Vietnam is moving toward establishing a national gold trading platform, transitioning from traditional gold shops to a centralized, digital, account-based system. The initiative aims to mobilize idle gold resources, improve market transparency, and reduce pressure on foreign exchange management. The Prime Minister has requested relevant ministries and agencies to urgently develop the exchange and target its operation before February 10, 2026; however, the project is still under review.

[SMM Silver Morning Review] Today's SMM spot silver ingot quotes are mainly at parity or small premiums. On the macro front, sentiment over US-Iran peace talks pushed silver T+D up over 4% today. In the physical market, selling increased while demand remained tepid. Early morning offers were at TD+10-30 yuan/kg, but downstream showed little willingness to buy, with most deals at parity. Traders focused more on warrant registration or bank transactions, resulting in thin overall trading.